The Kazakh Government has set an
ambitious goal to double the economy to $450 billion by 2029. To this end, the
country intends to launch a series of breakthrough projects and large-scale
industrial facilities. There are plans to attract at least $150 billion over
the next six years, including through the implementation of ESG principles. This
was announced by Kazakh Prime Minister Alikhan Smailov at an Interim Session of
the Foreign Investors Council. During the meeting, stakeholders discussed
measures and proposals for further improving Kazakhstan’s investment climate.
“The Government aims to increase investment,
transfer advanced technologies, localize production and create high value-added
clusters with the focus on the accelerated development of the manufacturing
sector. The Government will take all the necessary measures to maintain the
economic growth and improve the investment climate. We encourage our foreign partners
to invest in projects in Kazakhstan,” said Smailov.
According to Smailov, a legislative framework
and institutional environment have been established to strengthen the country’s
industrial base. Particularly, the law ‘On Industrial Policy’ was
adopted and a new Kazakh Ministry of Industry and Construction was formed.
Following the discussion, Smailov emphasized that all suggestions and
recommendations will be worked out by the Government. He also presented letters
of gratitude to the heads of companies for their contribution to the
development of the Foreign Investors Council and the country’s investment
climate.
