Kazakhstan Reports Growth in Foreign Investment in 2024
Kazakhstan has made significant strides in attracting foreign investment, bolstering its economic growth and global competitiveness The government continues to foster a favorable investment climate by developing infrastructure, supporting key industries, and executing large-scale international projects.
Surge in Foreign Direct Investment (FDI)
According to Kazakhstan’s National Bank, FDI for January-September 2024 reached $12.7 billion. Additionally, UN ESCAP reported a total of $15.7 billion in new investment projects, marking an 88% increase from the previous year. This accounted for 63% of total investments in North and Central Asia.
- 45 new projects worth $1.3 billion
- Over 6,000 new jobs created
Major Investment Projects in 2024
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Manufacturing and Industry:
- $50 million Carlsberg production site
- $450 million Zhetysu Wolframy plant (Phase 1)
- Wan Sheng Ceramic tile production facility in Shymkent
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Automotive Sector:
- Škoda and Hongoi car production in Kostanai
- Upcoming car production projects with KIA, Changan, Haval, and Chery (starting in 2025)
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Agriculture & Food Industry:
- $160 million PepsiCo project in Almaty Region to support local agriculture
- $200 million grain processing plant in Astana, in partnership with Hassad Food and Tiryaki Agro
- Capacity: 250,000 tons of wheat and 100,000 tons of peas annually
Infrastructure & Energy Investments
- Qatari Power International Holding acquired Tele2, Altel, and Bereke Bank
- UCC Holding launched infrastructure projects, including:
- New compressor station
- KS-14 Aktobe-Kostanai gas pipeline
- Beineu-Bozoi-Shymkent gas pipeline (second line)
Government Initiatives for Investment Growth
Kazakhstan is removing systemic barriers, increasing regulatory transparency, and introducing regional investment strategies.
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Investment Headquarters:
- 115 investor-related issues resolved ($50 billion in total projects)
- Six agreements worth $2.3 billion signed
- Seven more agreements in progress, totaling $7.5 billion
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National Digital Platform:
- Ensures transparency in monitoring investment projects
- Reduces bureaucratic barriers for investors
Photo credit: Kazakh Foreign Ministry.
