Kazakhstan Records Significant Growth in Foreign Investment in 2024
Kazakhstan has demonstrated substantial progress in attracting foreign direct investment (FDI), reinforcing its position as a regional economic leader. The government continues to prioritize the enhancement of the investment climate, infrastructure development, and the implementation of large-scale international projects to ensure long-term economic stability and competitiveness.
FDI Growth and Key Indicators
According to data from Kazakhstan’s National Bank, FDI inflows reached $12.7 billion in the first nine months of 2024. Additionally, the United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP) reported that Kazakhstan secured $15.7 billion in new investment projects, marking an 88% increase compared to the previous year. This accounted for 63% of total investments in North and Central Asia.
In 2024, foreign investors launched 45 new projects totaling $1.3 billion, creating over 6,000 jobs.
Major Investment Projects
Key projects initiated in 2024 include:
Carlsberg's $50 million production facility
Zhetysu Wolframy’s $450 million plant (Phase I)
Wan Sheng Ceramic tile production in Shymkent
Škoda and Hongoi automotive SKD production in the Kostanai Region
PepsiCo’s $160 million investment in the Almaty Region to support local agriculture
Strategic International Investments
Several high-profile international investments have further strengthened Kazakhstan’s economy:
Qatari company Power International Holding acquired Tele2, Altel, and Bereke Bank
UCC Holding (Arab investment group) is financing major infrastructure projects, including:
KS-14 Aktobe-Kostanai gas pipeline
Beineu-Bozoi-Shymkent gas pipeline (second phase)
New compressor station construction
Additionally, the National Management Holding Baiterek, Hassad Food, and Tiryaki Agro signed an agreement to build a $200 million grain processing plant in Astana, designed to process 250,000 tons of wheat and 100,000 tons of peas annually.
Photo credit: Kazakh Foreign Ministry.
