Kazakhstan Accelerates Industrialization with $26.7 Billion in Investments
The Republic of Kazakhstan is implementing 17 strategically important projects focused on high value-added production, with a total investment of 14.3 trillion tenge (approximately $26.7 billion), according to Prime Minister Olzhas Bektenov. These initiatives are expected to generate over 24,600 new jobs.
Upon full commissioning, the projects are projected to increase annual exports by about six trillion tenge ($11.2 billion) while reducing imports by 1.5 trillion tenge ($2.8 billion).
To support industrial enterprises, Kazakhstan currently operates 16 special economic zones and 55 industrial parks, which have produced goods valued at more than 15 trillion tenge ($28 billion) and created over 48,600 jobs.
A differentiated mechanism introduced in 2024 links the volume of investment to the scale of benefits provided, ensuring that higher investments receive greater incentives.
Significant emphasis is placed on redirecting raw materials from export to domestic processing, as demonstrated by leading companies such as KAZ Minerals Smelting and Mineral Product International. Furthermore, new supply chains are being established in the automotive sector around the operations of KIA Qazaqstan and Astana Motors Manufacturing Kazakhstan.
Key active and upcoming facilities include the Tengri Tyres tire plant in Saran, Kazakhstan Mobility Engineering’s multimedia systems factory in Almaty, the Almaty Autoparts Production plant specializing in automotive seat manufacturing, Vector Pavlodar’s cast aluminum wheel production enterprise, and Qarmet’s automotive steel production.
Prime Minister Bektenov highlighted that since 2021, manufacturing output has increased by 7.9 trillion tenge ($14.7 billion), exports of processed goods have risen by 45.1% to $28.8 billion, and investments in fixed assets have grown by 34.6%.
As part of the country’s long-term industrial strategy for 2023–2032, projects aimed at asset modernization, digital transformation, research and development, and high-tech production capabilities are underway.
Special attention is also given to the development of the chemical industry. An integrated gas chemical complex with an annual polypropylene production capacity of 500,000 tons has been commissioned, reducing imports from 25,000 tons in 2022 to 7,000 tons in 2024. Currently, 12 grades of polypropylene are produced domestically, including five grades that were previously fully imported. Exports now reach markets in Turkey, China, Russia, and the European Union.
Photo credit: kdmfab.com
