Kazakhstan Secures Over 100 Investment Agreements Worth 3 Trillion Tenge in 2024
Astana, The Gulf Observer: Kazakhstan concluded 107 investment agreements worth 3 trillion tenge in 2024, First Deputy Prime Minister Roman Sklyar announced at the Investment Forum in Astana, according to media reports. He highlighted Kazakhstan’s position among the world’s top 50 recipients of foreign direct investment (FDI) and its leading role in Central Asia, as the country attracts over 60% of the region’s total investments.
Sklyar reaffirmed the Kazakh government’s ambitious goal of doubling the national economy to $450 billion by 2029. He emphasized that attracting foreign investments is a key priority, with Kazakhstan striving to enhance its investment climate through a robust legal framework. The country has adopted an investment policy concept aligned with modern global trends, aiming to secure at least $150 billion in foreign investments by 2029.
He further noted that 115 investment projects worth $50 billion were discussed by Kazakhstan’s investment headquarters. To ensure a favorable business environment, Kazakhstan continues to strengthen its legislative framework and improve investment agreements to provide beneficial conditions for investors.
In 2023, Kazakhstan signed seven major investment agreements totaling $2.5 billion. Since the beginning of 2024, six additional agreements worth more than $2 billion have been approved.
President Kassym-Jomart Tokayev previously emphasized the need for high-quality investments that introduce advanced technologies and target global markets. However, Sklyar acknowledged that foreign direct investment inflows for the first nine months of 2024 amounted to $12.7 billion, marking a 36% decline compared to the same period in 2023.
Despite this decrease, Kazakhstan remains committed to fostering a competitive and attractive investment environment to drive long-term economic growth and diversification.
