ASTANA – Kazakhstan must develop a comprehensive strategy to attract new, high-quality investments to build modern, high-tech industries, President Kassym-Jomart Tokayev said at a Feb. 10 government meeting.
Tokayev underlined the importance of attracting private investment in geological exploration at a Feb. 10 government meeting. Photo credit: Akorda.
“Development institutions must build effective relationships with business and the financial sector, based not on competition but on mutual partnership,” he said, adding that as inflation stabilizes, the priority should shift to strengthening market principles.
Strategic sectors for investment
President Tokayev also highlighted a range of sectors with high investment potential, such as rare earth metals, oil and gas chemistry, digital infrastructure, renewable energy, transport, and agro-processing. He noted that global demand for critical materials is rising sharply as technological development accelerates.
“Investors from Western and other developed countries show strong interest in implementing such projects in Kazakhstan. This is our global competitive advantage, which we must use effectively for the benefit of the country,” he said.
Tokayev underlined the importance of attracting private investment in geological exploration, noting that without private capital, this sector risks remaining purely government-funded. He also criticized the livestock sector for lacking strategy and organization.
Special economic zones and long-term projects
According to Tokayev, Special Economic Zones (SEZs) will play a central role in attracting strategic investments. He underscored that without reforming SEZs, even substantial financial injections, around 1 trillion tenge (US$2 billion) of borrowed funds planned over the next three years, will not resolve systemic issues.
“Only by restructuring the SEZ development model can we ensure that such large financial inflows solve real problems,” he said.
Tokayev also stressed the importance of honoring investment agreements signed during overseas visits.
“The total value of commercial agreements reached last year alone was about $75 billion. Delays or failures in implementing these agreements are unacceptable,” he said.
Smart cities and innovation hubs
The Alatau city project was highlighted as a key platform for the new investment cycle. Tokayev said it will implement advanced innovations, AI, and digital technologies across all sectors of life on a Smart City model.
“Alatau should create unprecedented conditions for capital attraction and establish a progressive regulatory regime, allowing testing of bold, innovative solutions,” he said.
International coordination and offtake agreements
Tokayev highlighted close links with international financial institutions, with Presidential Advisor and Head of the Strategic Planning Agency Aset Irgaliev, tasked to oversee these efforts. He also stressed the importance of long-term offtake contracts for major projects.
“Due to the absence of unified and clear rules and passive government engagement, strategic investment projects often fail to materialize,” he said.
He concluded that Kazakhstan’s approach to investment must balance market-driven growth, strategic planning, and long-term private-sector engagement.
“The effective use of global capital, combined with domestic resources, is essential to modernizing our economy and achieving sustainable development,” Tokayev said.
