President Tokayev Approves 2029 National Development Plan
Astana, The Gulf Observer: Kazakh President Kassym-Jomart Tokayev has approved the 2029 National Development Plan of Kazakhstan, according to the NHC.
In his 2023 State-of-the-Nation Address, President Tokayev emphasized the necessity of establishing a new paradigm for the country’s economic development, aiming for a steady, high-quality, and inclusive growth trajectory.
The 2029 National Development Plan sets forth the midterm priorities for Kazakhstan’s development and is based on five key principles for economic transformation:
- Liberalization and Stimulation of Competition: Enhancing global competitiveness and improving the quality of goods and services.
- Protection of Entrepreneurship: Establishing a clear, predictable, and attractive economic policy for investors to ensure sufficient investments for economic growth.
- Unlocking Kazakhstanis’ Potential: Focusing on quality education and supporting entrepreneurship and creative initiatives.
- Productivity Improvement and Economic Complexity: Expanding innovation activity, modernizing, and digitalizing industries and enterprises.
- Regional Development and Economic Independence: Preventing critical gaps in regional development and creating conditions for unlocking regional potential.
The 2029 National Development Plan identifies 17 development trends, organized into four comprehensive blocks.
The decree signed by President Tokayev will take effect immediately.
