Kazakhstan is preparing around 200 major infrastructure projects worth over $86 billion.

The head of state conducted the 36th plenary session of the Foreign Investors Council, reports inbusiness.kz citing Akordu.

Welcoming the participants of the event, President Kassym-Jomart Tokayev noted that the council has become a crucial dialogue platform for discussing ways to improve the investment climate.

Referring to data from the International Institute for Management Development (IMD), he emphasized that our country has entered the top 35 most competitive countries in the world.

– We have set ourselves quite an ambitious goal – to attract an additional 150 billion dollars in foreign direct investment by 2029. To achieve this goal, the Investment Headquarters under the government has been granted expanded powers to promptly address emerging issues. In May of this year, I signed a decree that strengthened the foundation for significant liberalization of the national economy. We will continue to take consistent systemic steps aimed at improving the conditions for investors in the country, – said the head of state.

Kassym-Jomart Tokayev stressed that Kazakhstan has a unique mineral resource base and discussed measures to enhance the efficiency and transparency of processes in the field of geological exploration and mineral extraction. According to him, Kazakhstan has attracted private investments in geological exploration totaling over 1 billion dollars in the last 6 years.

Currently, approximately 1.6 million square kilometers of the country's territory are open for obtaining subsoil use rights for geological exploration.

– The recently adopted National Infrastructure Plan until 2029 opens a "window of opportunities" for local producers. About 200 large infrastructure projects worth over 86 billion dollars will be implemented. The government will compile a list of goods for the localization of off-take contracts. High-skilled labor is necessary for industrial growth. Therefore, I declared 2025 as the Year of Skilled Professions. We are looking for investors willing to enhance the quality of technical and vocational education in Kazakhstan and develop the corresponding infrastructure, – the president stated.

Characterizing the situation in the energy sector, the head of state noted the contributions of international oil companies, which have played a significant role in the country's development.

– Foreign investors have invested capital, provided advanced technologies, and high-skilled labor. Their investments have contributed to the growth of our energy sector: over the past 30 years, oil production has tripled. Thanks to this, Kazakhstan has entered the top five countries with the highest growth rates in oil production. Looking to the future, we aim to exceed the threshold of 100 million tons per year, – said the president.

It was further noted that expanding the petrochemical industry is also of key importance for the diversification of the economy.

– In 2022, we launched the largest polypropylene production plant in Central Asia with a capacity of 500 thousand tons per year. Currently, this enterprise covers almost 60% of domestic demand and exports products to Europe, Turkey, and China. In September of this year, construction began on a polyethylene production plant with a capacity of 1.2 million tons per year. A number of petrochemical projects worth over 14 billion dollars are in the pipeline, – reported Kassym-Jomart Tokayev.

Special attention in the speech was given to enhancing the investment attractiveness of the "clean energy" sector. In particular, concrete agreements have been reached for the implementation of 43 GW of "green" projects in Kazakhstan with global companies such as Total, Svevind, ACWA Power, and Masdar. Additionally, Kazakhstan has immense potential for the development of nuclear energy.

– Our country is the largest producer of uranium in the world. As you know, recently, in a national referendum, citizens supported the construction of the first nuclear power plant, which will serve as a long-term investment in our energy security. Currently, we are considering the possibility of creating an international consortium to implement this project, – added the President of Kazakhstan.

The next sector deserving attention from investors was named the agro-industrial sector.

– The development of Kazakhstan's agriculture is a strategic priority for ensuring food security in the Central Asian region. Our country ranks sixth in the world in terms of agricultural land area, which exceeds 200 million hectares. Over the past six years, sectoral exports have doubled, exceeding 5 billion dollars. As we strive to transform the agro-industrial complex into a high-tech sector, more than 100 projects worth 5 billion dollars will be implemented with the participation of foreign investors, – said the head of state.

In the transport and logistics sector, Kazakhstan aims to strengthen its position as a key Eurasian transit hub. The country plans to repair 11 thousand kilometers of old railways and build over 5 thousand new ones. A priority is the development of the Trans-Caspian International Transport Route, thus key attention is being paid to investments aimed at developing its infrastructure through the construction of new cargo terminals and the production of transport vessels.

Kassym-Jomart Tokayev specifically addressed issues related to the protection of investor rights and the improvement of regulatory policy.

It was noted that one of the tasks of the ongoing modernization of the legal and judicial system is to create a favorable investment climate. Digital interaction between the government and investors is being expanded. By the end of the year, the launch of the National Digital Investment Platform is planned, which will allow for real-time tracking of project implementation.

The new Tax Code will promote the activation of the investment cycle by establishing tax preferences, the essence of which is the right to deduct all costs associated with the purchase of machines, equipment, and software.

In the context of strengthening cooperation in the financial sector, Kazakhstan emphasizes the work of the Astana International Financial Center. AIFC is a unique institution for the region that combines the best practices of leading financial centers in the world.

In conclusion, the president emphasized the importance of continuing the dialogue between council members and government bodies aimed at improving the investment climate in the country, implementing new initiatives, and specific projects.

During the event, speeches were also made by the President of the EBRD Odile Renaud-Basso, Deputy Prime Minister and Minister of National Economy Nurlan Baibazarov, Chairman of the Kazakhstan Foreign Investors Council Erlan Dosymbekov, Vice President of CNPC Zhang Dawei, Chairman of the Board of the Eurasian Development Bank Nikolai Podguzov, President of Alstom for Africa, the Middle East, and Central Asia Andrew Deleoni, and CEO of Lukoil Vadim Vorobyov.