Germany Invests $770 Million in Kazakhstan in 2023

ASTANA – Last year, Germany made a record amount of investment of $770 million in Kazakhstan, according to a report presented by the Kazakh Invest national company during an April 24 meeting of the Council for Attracting Investments (Investment Headquarters) chaired by Kazakh First Deputy Prime Minister Roman Sklyar, reported the Prime Minister’s press service.

Roman Sklyar chairs the meeting of the Council for Attracting Investments. Photo credit:

To date, the total pool of German projects in Kazakhstan includes 63 projects valued at approximately $54.4 billion. These projects created 14,700 jobs, with 32 projects already operational, providing nearly 6,000 permanent jobs.

Bilateral trade between the two countries witnessed remarkable growth, with an increase of 24.7% in 2022 and 41.3% in 2023. Kazakhstan stands as one of Germany’s top 50 trading partners and a key partner in Central Asia.

The council reviewed the Bakhty-Ayagoz railway project in the Abai region bordering China, which is integral in improving logistics and the investment climate. 

Identifying the need for accelerating this project, the council classified it as an object of special regulation to facilitate parallel design and construction work.

Get The Astana Times stories sent directly to you! Sign up via the website or subscribe to our Twitter, Facebook, Instagram, Telegram, YouTube and Tiktok!