Kazakhstan is preparing a large-scale investment push aimed at reshaping its economic structure and reducing dependence on raw materials, DKNews.kz reports.
At a Government session, Deputy Prime Minister – Minister of National Economy Serik Zhumangarin presented a strategy focused on building a modern industrial framework and accelerating diversification.
Shift toward a new growth model
According to the minister, Kazakhstan’s economy showed steady growth in 2025, while structural changes toward the non-oil sector are becoming increasingly visible.
Key long-term shifts include:
- The share of manufacturing in GDP rose from 11.3% in 2010 to 12.4% in 2024.
- The mining sector’s share declined from 19.5% to 12%.
- Oil and gas extraction fell from 16.5% to 8.1%.
These trends reflect a gradual transition toward a more diversified economic model.
Strong progress in economic complexity
Kazakhstan also improved its position in the global Economic Complexity Index.
In 2024, the country ranked:
- 55th out of 145 nations.
- Up from 87th place just four years earlier.
Officials noted that the non-oil sector grew by 5.4% last year and accounted for the majority of GDP growth.
$400 billion investment target
The government aims to significantly increase investment levels over the next five years.
“To implement the National Development Plan, we need to increase the investment-to-GDP ratio from the current 14–15% to 23% by 2029.”
According to Serik Zhumangarin, this would allow Kazakhstan to:
- Attract an additional $120 billion in investments.
- Reach cumulative investments of $400 billion between 2025 and 2029.
- Increase the fixed capital index 2.5 times compared to 2024.
Priority sectors for industrial growth
The strategy focuses on processing industries and high-tech production.
Key sectors include:
- Ferrous and non-ferrous metallurgy.
- Rare earth metals.
- Petrochemicals and gas processing.
- Pharmaceuticals.
- Agricultural product processing.
A new “Proactive Economic Growth Policy” will guide implementation.
Its main principle is active state participation in launching projects together with major foreign partners.
Major investment projects already underway
Officials cited two flagship projects illustrating this approach:
- A coal-to-gas plant in Karaganda Region with capacity of 2 billion cubic meters annually and cost of about $2 billion.
- Qarmet’s $3.5 billion program to expand coal production, ore extraction and steel output.
These projects are expected to significantly boost industrial output.
Import substitution and inflation control
The government is also implementing an “Investment Order” program to strengthen domestic production.
The program currently covers:
- 12 priority areas in the food sector.
- 24 priority areas in non-food industries.
It includes production of meat, dairy products, sugar, construction materials, household appliances and light industry goods.
Financial backing through Baiterek
National Managing Holding Baiterek will provide key financial support for industrial expansion.
In 2026, the holding is expected to receive capitalization of up to 1 trillion tenge.
With additional funding:
- Total support for the real sector will reach about 8 trillion tenge.
- Subsidiaries may finance projects worth $100–120 billion by 2030.
Officials say these measures will form the foundation for long-term industrial growth and higher economic value added.
