Prime Minister Olzhas Bektenov chaired a meeting of the Council on Improving the Investment Climate, bringing together diplomats, international investors and business leaders, DKNews.kz reports.
The discussions centered on implementing agreements reached within the C5+1 format between Central Asia and the United States.
Constitutional reform highlighted as key political stage
Opening the meeting, Bektenov stressed that Kazakhstan is currently undergoing a major political transformation.
“Kazakhstan is currently going through a very important political stage. On March 15, a nationwide referendum will be held on the draft of a new Constitution.”
He emphasized that the reform reflects large-scale political changes initiated by President Kassym-Jomart Tokayev.
“Our key priority is to raise citizens’ incomes and improve quality of life by ensuring sustainable economic growth through launching a new investment cycle.”
Strategic importance of U.S. partnership
Bektenov also highlighted President Tokayev’s recent participation in the Peace Council meeting in Washington.
“Kazakhstan is interested in participating in the processes of Gaza reconstruction. The steady development of relations with the United States remains one of the main tracks of our foreign policy.”
U.S. Ambassador Julie Stufft emphasized record economic cooperation.
“Our commercial cooperation reached record levels in 2025. In the fourth quarter alone, deals between Kazakhstani and American companies totaled $17 billion.”
Key investment priorities discussed
Participants focused on expanding cooperation with foreign investors.
Main priorities include:
- Attraction of long-term capital.
- Technology transfer and digitalization.
- Infrastructure development.
- Creation of predictable regulatory conditions.
Investors noted the importance of tax reform stability.
Major infrastructure financing secured
Citibank Kazakhstan Chair Saule Zhakayeva reported that financing has been secured under U.S. EXIM guarantees.
The funds will support modernization of:
- Railway infrastructure.
- Aviation systems.
- Air navigation technologies.
The projects will not increase the burden on the state budget and will enhance Kazakhstan’s transit potential.
Localization of agricultural machinery production
Sergey Glocke, COO of Eurasia Group Kazakhstan, spoke about expanding John Deere equipment localization.
Key plans include:
- Increasing production of agricultural machinery in Turkestan Region.
- Expanding service infrastructure.
- Training Kazakh specialists at U.S. facilities.
He noted that workforce development remains a priority for the agro-industrial sector.
Expansion of locomotive production
Wabtec Vice President Gainy Duisenova presented plans to expand industrial cooperation.
Key facts:
- Kazakhstan is Wabtec’s second-largest production partner in the region.
- More than 700 locomotives have been produced locally.
- Annual capacity reaches 100 railway units.
Further expansion of locomotive and diesel engine production is planned in partnership with Kazakhstan Temir Zholy.
AI cooperation and digital transformation
Freedom Holding CEO Timur Turlov highlighted new opportunities created through agreements with OpenAI and NVIDIA.
He noted that priority areas include:
- Development of artificial intelligence.
- Training workforce for the digital economy.
- Expansion of computing infrastructure.
The “Data Center Valley” project in Pavlodar Region was identified as a key initiative.
Tax reform improves business climate
Deloitte partner Yeldos Syzdykov positively assessed recent tax changes.
He noted:
- Waiver of penalties for delayed VAT refunds.
- Improved administrative procedures.
- Steps toward a fair taxation system.
According to him, the reforms aim to strengthen transparency and investor confidence.
Government reaffirms commitment to investors
Concluding the meeting, Bektenov confirmed that Kazakhstan will continue strengthening cooperation with international partners.
The Government is focused on:
- Attracting global technology companies.
- Developing infrastructure for digital projects.
- Integrating Kazakhstan into global value chains.
Relevant agencies were instructed to incorporate business recommendations in future policy work.
