Kazakhstan’s Next Chapter: $15.5 Billion Boost for Industry, 17 Megaprojects Ahead

ASTANA – Kazakhstan is set to accelerate economic growth through structural reforms, industrial diversification, and 17 large-scale investment projects, the Ministry of National Economy told Kazinform on June 25.

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Under the new National Development Plan until 2029, Kazakhstan aims to ensure sustainable GDP growth of 6–7% and expand its economy to $450 billion. The government is shifting from a raw-materials-based model to one centered on high-tech, export-oriented production. As a result, the share of the mining industry in the economy has dropped from 19.5% to 12%, while the manufacturing sector has grown at an average rate of 4.6% from 2010 to 2024.

To support industrial growth, the government allocated eight trillion tenge (US$15.5 billion) through Baiterek Holding in 2024. This year, the country is implementing 190 manufacturing projects worth 1.5 trillion tenge (US$2.9 billion). Agriculture will also receive strong backing, with 700 billion tenge (US$1.3 billion) in preferential financing and 286 projects worth 694 billion tenge (US$1.3 billion) planned for this year.

Seventeen major investment projects will play a key role in driving growth. These projects span key sectors, including metallurgy, petrochemicals, gas and coal chemistry, heavy engineering, automotive, and food production. The Industrialization Map encompasses over 230 projects through 2029, including large-scale petrochemical ventures that are expected to significantly boost exports to $37.9 billion by 2030.

Kazakhstan is also focusing on transport and logistics infrastructure, integrating domestic businesses into global value chains, and digitalizing the economy. IT service exports are projected to exceed $1.5 billion by 2030.

Foreign direct investment will remain a cornerstone of economic development, with an annual target of $24-25 billion. The primary objective, according to the ministry, is to establish a resilient, diversified, and competitive economy that can effectively respond to global challenges.


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