ASTANA – Kassym-Jomart Tokayev held a series of meetings with the heads of major international financial institutions and global companies on the sidelines of the 38th plenary session of the Foreign Investors’ Council on July 2, discussing investment, infrastructure, digital transformation, artificial intelligence and strategic industrial cooperation.
From L to R: Odile Renaud-Basso, President of the EBRD and Kazakh President Kassym-Jomart Tokayev. Photo credit: Akorda.
During talks with President of the European Bank for Reconstruction and Development Odile Renaud-Basso, President Kassym-Jomart Tokayev discussed the future of Kazakhstan’s partnership with the development bank.
Tokayev thanked the bank for its long-standing contribution to Kazakhstan’s economic development, describing the relationship as a strategic partnership that has evolved successfully over many years, reported Akorda.
According to him, over the past three decades, the EBRD has invested more than 11 billion euros (US$13 billion) in 354 projects across Kazakhstan, making the country one of the bank’s largest regional partners. The institution’s current portfolio includes 131 projects worth more than 3.1 billion euros (US$3.7 billion).
Tokayev also welcomed the signing of a new framework partnership agreement between the Kazakh government and the EBRD to expand cooperation in support of the country’s sustainable development agenda.
Renaud-Basso praised Kazakhstan’s investment climate and ongoing structural reforms, noting that more than $1 billion in agreements have been signed this year. With additional projects in preparation, the EBRD expects its total investment in Kazakhstan to reach 1.3 billion euros (US$1.5 billion) in 2026, the highest annual investment level in the bank’s history.
The EBRD also reaffirmed its commitment to supporting projects in infrastructure, transport connectivity, irrigation, energy, private sector development, small and medium-sized enterprises, critical raw materials, digitalization and artificial intelligence.
VEON plans $1 billion investment
President Tokayev also met with Kaan Terzioğlu, CEO of VEON, to discuss the future of Kazakhstan’s telecommunications sector as the country accelerates its digital transformation. Tokayev described artificial intelligence as a key driver of future economic growth and encouraged VEON to collaborate on expanding computing infrastructure and cloud services.
From L to R: CEO of VEON Kaan Terzioğlu and Kazakh President Kassym-Jomart Tokayev. Photo credit: Akorda.
Terzioğlu outlined the company’s plans to introduce advanced telecommunications technologies and broaden access to digital services. Over the next three years, VEON intends to double the scale of its business in Kazakhstan and invest an additional $1 billion in the country’s economy.
The company also expressed interest in supporting the Digital Kazakhstan initiative, while Beeline Kazakhstan is considering building a new data center in Astana.
Islamic Development Bank expands strategic cooperation
In talks with President of the Islamic Development Bank Muhammad Sulaiman Al Jasser, Tokayev described the organization as a reliable partner supporting Kazakhstan’s national development priorities. The IsDB Group has provided Kazakhstan with more than $4.2 billion in financing, while its portfolio of current and prospective projects exceeds $3 billion.
Kazakh President Kassym-Jomart Tokayev held meetings with global business leaders to deepen investment cooperation. Photo credit: Akorda.
Tokayev thanked the bank for supporting strategic projects in water infrastructure, transport connectivity and industrial development. Recent initiatives include a $1.15 billion Water Resources Development Program and a $1.3 billion framework agreement supporting the development of special economic and industrial zones.
The two sides also discussed preparations for a new Partnership Strategy for 2027–2032. Tokayev welcomed the bank’s proposal to hold the IsDB Group’s annual meeting in Kazakhstan in 2028.
U.S. Chamber of Commerce discusses new areas of cooperation
President Tokayev also met with Khush Choksi, who serves as Senior Vice President for the Middle East, Türkiye, and Central Asia at the U.S. Chamber of Commerce, to discuss strengthening bilateral trade and investment ties. Tokayev reaffirmed Kazakhstan’s readiness to strengthen cooperation with the administration of Donald Trump and emphasized the strategic importance of economic relations.
The discussions focused on expanding cooperation in critical minerals, energy, digital infrastructure, artificial intelligence, transport connectivity, advanced technologies, agriculture and financial services.
Choksy noted the strong potential to further expand business ties and expressed interest in pursuing new joint projects.
Cameco partnership marks three decades
Tokayev also met with Executive Director of Cameco Corporation Tim Gitzel to review cooperation in Kazakhstan’s uranium industry. He praised the 30-year strategic partnership between Cameco Corporation and Kazatomprom, highlighting Kazakhstan’s efforts to modernize its industrial sector and develop higher value-added production.
Tokayev identified the establishment of a complete domestic nuclear fuel cycle as one of the country’s strategic priorities. The discussions also covered prospects for expanding cooperation in the nuclear sector through new joint projects.
AD Ports Group focuses on Middle Corridor development
President Tokayev also met with Managing Director and CEO of AD Ports Group Mohamed Al Shamisi to discuss expanding transport and logistics cooperation across the Caspian region. Tokayev noted that AD Ports Group has established itself as one of the world’s leading operators in maritime transport and port infrastructure development.
The discussions focused on strengthening the Caspian region’s transit potential through the development of the Middle Corridor. Tokayev noted that during his recent official visit to Brussels, European Union leaders and business representatives expressed readiness to increase cargo traffic along the route, recognizing it as a key transport corridor connecting Asia and Europe.
The two sides also discussed the activities of joint freight transportation ventures and the expansion of port infrastructure, including the construction of grain and cargo terminals.
Al Shamisi reaffirmed AD Ports Group’s strategic interest in long-term cooperation with Kazakhstan and its commitment to strengthening its regional partnerships.
Anadolu Group plans new investments
President Tokayev also met with Kamil Yazici, Chairman of Anadolu Group, to discuss expanding the Turkish conglomerate’s investment portfolio and implementing new joint projects across Kazakhstan’s economy.
Tokayev noted that Efes Kazakhstan and Coca-Cola Almaty Bottlers, both part of Anadolu Group, have operated successfully in Kazakhstan for many years, contributing to employment, investment inflows, and tax revenues.
Yazici briefed the Kazakh President on the group’s operations and future plans, noting that Anadolu Group has invested nearly $1 billion in Kazakhstan over the past 30 years, creating more than 10,000 jobs. The company operates five beverage production plants and has begun construction of a sixth facility in the Aktobe Region, backed by a $100 million investment.
President Tokayev reiterated that Kazakhstan remains committed to diversifying its economy, modernizing industry, and expanding higher value-added manufacturing. Both sides expressed interest in further expanding Anadolu Group’s presence in Kazakhstan, particularly through export-oriented projects in the agro-industrial sector and other industries focused on innovation and sustainable economic growth.
