ASTANA – Kazakh Prime Minister Olzhas Bektenov chaired a meeting of the council aimed at improving the investment climate to advance agreements reached under the C5+1 format, emphasizing constitutional reform, economic modernization and deeper cooperation with U.S. investors.
Photo credit: gov.kz
The meeting brought together representatives of the diplomatic corps, including newly appointed U.S. Ambassador to Kazakhstan Julie M. Stufft, international companies and senior government officials, reported the Prime Minister’s press service.
Bektenov highlighted Kazakhstan’s ongoing constitutional reform. He stressed that increasing people’s incomes and ensuring sustainable economic growth remain the government’s top priorities, supported by the launch of a new investment cycle.
Bektenov also mentioned President Kassym-Jomart Tokayev’s participation in the Board of Peace meeting in Washington D.C. on Feb. 19 and reaffirmed Kazakhstan’s interest in strengthening relations with the U.S., including potential involvement in Gaza’s reconstruction.
Ambassador Stufft welcomed Tokayev’s address in Washington D.C. and said bilateral commercial cooperation reached record levels in 2025, with $17 billion in transactions between Kazakh and U.S. companies in October-December last year.
Discussions focused on attracting long-term capital, advanced technologies and best international practices while ensuring a predictable regulatory and tax environment.
Citibank Kazakhstan Chair Saule Zhakayeva said that financing under U.S. EXIM guarantees has been secured to modernize rail, aviation and air navigation infrastructure without additional strain on the state budget. Representatives of John Deere outlined plans to expand localized agricultural machinery production in the Turkistan Region while strengthening workforce training in the U.S.
Wabtec Corporation discussed the expansion of digitalized locomotive production in Kazakhstan. Over 700 locomotives have been manufactured in the country over 27 years, with plant capacity reaching 100 units annually and local content exceeding 40%. In partnership with Kazakhstan Temir Zholy, the company plans to produce new diesel engines and locomotives equipped with common-rail systems to reduce emissions and fuel consumption.
Timur Turlov, head of Freedom Holding, noted that agreements with OpenAI and NVIDIA open new opportunities for artificial intelligence development and digital education in Kazakhstan, supported by modern computing infrastructure projects such as the planned Data Center Valley in the Pavlodar Region.
Tax experts from Deloitte Kazakhstan said ongoing tax reforms aim to enhance transparency, improve administration and create a fairer business environment.
Bektenov reaffirmed the government’s commitment to strengthening cooperation with international partners, attracting global technology companies and building infrastructure for advanced digital projects, instructing relevant agencies and the U.S. Chamber of Commerce to incorporate business proposals into future policy work.
