ASTANA – The Investment Headquarters is an important mechanism for resolving investors’ problems, but its continued role also shows where Kazakhstan’s investment infrastructure still has “rough edges,” financial analyst Rassul Rysmambetov told The Astana Times.
Photo credit: Shutterstock
He described the Investment Headquarters as a useful “diagnostic” tool, saying that its cases could provide insight into which regions and sectors resolve investor issues more quickly and where decisions take longer.
“If we collect all the data from the Investment Headquarters and understand in which regions or sectors decisions are made faster and where they take longer, we need to understand which regions are working poorly and in which sectors we have poor legislation,” Rysmambetov said.
From resolving individual problems to identifying systemic barriers
Rassul Rysmambetov, a financial analyst. Photo credit: Kazinform.
Over the past three years, the Investment Headquarters has held 69 meetings, addressing issues related to 309 projects with a combined value of more than $154 billion, reported the Prime Minister’s press service on Sept. 16.
Its work covers different stages of project implementation, including land allocation, infrastructure connections, permits, raw material supplies, financing and preparation for construction.
In 2025, decisions by the Investment Headquarters enabled 12 projects in nine regions to proceed to construction and installation works, representing more than $1.5 billion in invested capital.
Rysmambetov said the mechanism is particularly relevant because investors can face difficulties when moving from central government institutions to regional authorities. He identified coordination between central and regional authorities as a key challenge, noting that central-level decisions can face delays when investors move to the regional level.
Investment agreements expand the pipeline
The Government has also increased its use of investment agreements, intended to give investors greater predictability about the conditions for implementing large projects.
In 2025, 41 investment agreements worth $29.8 billion were signed, compared with six agreements worth $2.2 billion in 2024. Since the beginning of this year, another 25 agreements worth about $11 billion have been concluded.
The figures indicate a substantial expansion in the number and value of projects receiving this form of state support. The more important measure, however, is how many of these projects progress from agreements and investment decisions to construction and eventually operational production.
Several projects already moving through the implementation process illustrate the potential economic impact.
From raw materials to higher-value production
The projects illustrate how investment support can translate into new production and jobs. In Balkhash, the $1.5 billion Qazaq Smelter project is expected to produce 300,000 tons of cathode copper annually, process up to 1.5 million tons of concentrate and create nearly 1,600 jobs.
In the Mangystau Region, a $287.6 million multifunctional terminal at the Port of Kuryk is planned to handle 15 million tons and create around 500 jobs, adding capacity to the Trans-Caspian International Transport Route.
Other projects focus on domestic processing. Advanced Processing is developing a $100 million ammonia and ammonium nitrate plant in the Atyrau Region, while QazCoilPro is investing nearly $256.8 million in a full-cycle aluminum plant in the Turkistan Region, with more than 1,000 jobs expected across the project and related facilities.
Measuring implementation, not only commitments
These projects also highlight why resolving administrative barriers matters: investment agreements and announcements must ultimately translate into construction, production and jobs.
Rysmambetov said the Investment Headquarters helps “break through this ice” and reach the core of issues at the regional and ministerial levels. But its continued role also indicates that Kazakhstan’s investment infrastructure still has gaps.
“The fact that there is still work for such things as the Investment Headquarters means that the investment infrastructure is not yet fully developed,” he said.
Tracking the problems brought before the headquarters could help identify recurring regulatory and regional barriers and show where systemic reforms are needed.
Rysmambetov expects the Investment Headquarters to remain necessary for at least the next five years. Its longer-term value, he suggested, will depend on whether the problems it now solves project by project can eventually be addressed through improvements to the broader investment system.
