ALMATY – Prime Minister Olzhas Bektenov chaired a Jan. 28 meeting, discussing the launch of a new investment cycle to increase the volume of high-quality investments.
Bektenov stressed that all state bodies have been tasked with boosting the inflow of quality investments and ensuring the implementation of breakthrough, high value-added projects. Photo credit: Prime Minister’s press service.
“We need to work together to create a favorable investment climate, promote productive work, protect investors’ rights, and support important projects for the country at all stages of implementation,” Bektenov said.
Shift to a proactive investment model
Deputy Prime Minister and Minister of National Economy Serik Zhumangarin reported that investment in fixed capital reached 22.7 trillion tenge (approximately US$45.17 billion) last year. For the current year, targets have been set at 31.5 trillion tenge (US$62.7 billion) in fixed capital investment and $25.5 billion in foreign direct investment.
Authorities plan to implement 475 investment projects worth 16 trillion tenge (US$31.8 billion), creating more than 1,000 permanent jobs. At present, 1,047 projects worth 74.5 trillion tenge (US$148.3 billion) are being implemented through the National Digital Investment Platform. Last year, 273 projects worth 2.49 trillion tenge (US$4.95 billion) were launched. Overall, the Investment Policy Concept calls for tripling total investment volumes.
Global investors and major projects
Deputy Foreign Minister Alibek Kuantyrov reported on strengthening the external track of investor attraction. He cited targeted work with investors and specific projects, including a $4 billion coal chemical complex by CHN Corporation in the Karagandy region, a $70 million sanitary ware plant by Roca Group in the Kyzylorda region, an $800 million corn processing plant by Fufeng Group in the Zhambyl region, $58 million feed mills by UBM Group in the Kostanai and Almaty regions, and a $250 million soy processing project by Shandong Yuwang Industrial.
With the support of international consultants, investment proposals have been prepared in priority sectors. Kazakh Invest is also strengthening its foreign offices in Germany, the United States, China, Qatar, Russia, and Malaysia.
Sharp criticism over regional delays
Bektenov emphasized that protecting investors’ rights and fostering a favorable investment climate are shared responsibilities of all state bodies, especially those directly engaged with business.
“Every foreign or Kazak investor should be confident that their interests are protected, disputes are resolved objectively, and government institutions operate under transparent and predictable rules. It is unacceptable when an investor who is willing to invest in our economy cannot obtain basic technical conditions or legal documents for months. This is a direct loss for the country’s economy,” he said.
Bektenov criticized Kazakh Invest and several regional administrations for shortcomings and obstacles to the implementation of already approved projects.
He ordered state bodies to make all necessary decisions on the remaining projects within three days, warning that a lack of results could lead to disciplinary action. Materials related to the obstruction of investor activities have been forwarded to the Prosecutor General’s Office.
Prosecutor’s office takes lead in investor protection
The meeting also focused on protecting investors’ rights and strengthening legal support mechanisms. The Prosecutor General’s Committee for the Return of Illegally Acquired Assets has been transformed into a Committee for the Protection of Investors’ Rights, while the role of Investment Ombudsman has been assigned to the Prosecutor General.
Prosecutor General Berik Asylov noted that investment prosecutors have already begun work in the regions.
“We will issue binding orders and instructions, which is very important. We will coordinate and implement international legal cooperation activities to protect investors. We will conduct a review of all investment projects in collaboration with government agencies. We will promptly support all projects based on our target picture,” he said.
Digital monitoring and unresolved challenges
Digitalization of project support was highlighted as another priority, with online monitoring of each initiative to identify risks and delays in real time. The Prosecutor General’s Office reported that issues affecting nearly 2,000 investors have been resolved, and that 250 projects have been launched, creating 25,000 jobs. However, some challenges remain and require joint action.
Bektenov instructed the Ministry of National Economy, together with the Foreign Ministry and the Prosecutor General’s Office, to complete a review of all current investment projects as soon as possible.
