ASTANA, Kazakhstan, February 20. Kazakhstan
plans to attract up to $400 billion in investment into the
country’s industrial framework by 2029, Deputy Prime Minister and
Minister of National Economy Serik Zhumangarin said at a government
meeting, Trend
reports via the press service of the Kazakh government.
Zhumangarin explained that, as part of the National Development
Plan, the share of investment in the country’s GDP is projected to
rise from its current level of 14-15% to 23%. This shift would
enable Kazakhstan to increase fixed capital investments by 2.5
times relative to 2024 levels by 2029.
The primary focus of this investment drive will be on expanding
key sectors such as metallurgy, petrochemicals, gas production, and
pharmaceuticals.
Notably, Zhumangarin emphasized that rather than passively
awaiting foreign investment, the state is adopting a proactive
economic growth strategy. Under this approach, the government will
take the initiative in identifying "investment orders" based on the
specific needs of domestic industries and will seek foreign
partners possessing the requisite technologies to establish new
production facilities.
"The core of this strategy is the transition from a passive
model, where the state simply invites investment, to one in which
the government actively participates in shaping and launching
targeted investment projects. This approach is tailored to meet the
concrete needs of various economic sectors. The proposed
initiatives will contribute to increasing labor productivity across
the country, an essential step for overcoming the middle-income
trap and ensuring sustained growth in per capita GDP," Zhumangarin
said.
According to the Bureau of National Statistics of Kazakhstan, in
January 2026, the volume of investment in fixed capital in the
country reached 896 billion tenge ($1.806 billion), marking a 3.4
percent increase in comparable prices compared to the same month in
2025.
The currency conversion is based on the official exchange rate
of 1 USD = 496 tenge as of February 16, 2026.
