On November 1st in Astana, the Kazakhstan Global Investment Roundtable (KGIR) 2024 underscored Kazakhstan’s position as a major investment hub in Central Asia. The event attracted over 500 participants, including representatives from leading international corporations, financial institutions, and global organizations like the European Bank for Reconstruction and Development (EBRD). Agreements totaling $7 billion were signed, reflecting increased confidence in Kazakhstan’s economy and commitment to fostering a favorable investment climate.
Key Agreements and Investment Projects
KGIR 2024 facilitated several important agreements across diverse sectors in Kazakhstan’s economy, from agriculture and energy to healthcare:
Wheat Processing Plant ($650 million)
In partnership with China’s Dalian Hesheng, a new wheat processing plant will be constructed in the Akmola region, a leading wheat-producing area in Kazakhstan. This project will boost food security and strengthen Kazakhstan’s role in the global agricultural market, particularly in Southeast Asia, creating over a thousand jobs and supporting the local economy.
Coal Chemistry Production ($4 billion)
A strategic partnership with China’s CHN Energy aims to develop Kazakhstan’s coal chemistry sector, enabling the shift from raw material exports to high-value-added production. This project will also enhance the supply chain by integrating local small and medium-sized enterprises into production processes.
LNG Plant in Zhetisu Region ($305 million)
A new liquefied natural gas (LNG) plant will enhance Kazakhstan’s energy infrastructure, expand export potential, and reduce dependence on raw materials. This initiative supports the country’s strategy to transition to cleaner energy sources, offering flexible energy solutions in the global shift towards sustainable energy.
Healthcare Infrastructure Development ($80 million)
Investment from Orhun Medical will advance Kazakhstan’s healthcare system, addressing the growing demand for quality healthcare services. This project includes partnerships with local universities and medical centers to foster specialist training and introduce advanced medical technologies.
Railway Transport Digitalization ($10.4 million)
An agreement between Kazakhstan Temir Zholy and Transportation Global will drive the digitalization and modernization of Kazakhstan’s railway network, incorporating artificial intelligence into logistics processes. This project enhances Kazakhstan’s integration into international transport routes, including the Trans-Caspian International Transport Route.
Kazakhstan’s Investment Appeal
Kazakhstan remains attractive to investors due to its strategic location between Europe, Asia, and Russia, as well as its abundant natural resources. The government’s focus on long-term investment through a stable legal framework, special economic zones, and tax incentives is further complemented by localization initiatives that create jobs and boost local production.
Trends and Future Prospects
KGIR 2024 also explored global trends impacting Kazakhstan and Central Asia’s economic growth:
Energy Transition and Renewable Energy Development
Kazakhstan is advancing its “green” energy goals through solar and wind projects, aligning with global sustainability standards and positioning itself as a future producer of hydrogen and clean energy.
Transportation and Logistics
As Central Asia gains strategic importance as a transit route between Europe and Asia, Kazakhstan’s infrastructure development will support regional integration and overcome logistical challenges, elevating Central Asia’s role in global trade.
Industrial Policy and Protection of Strategic Sectors
Kazakhstan and other regional countries are strengthening support for key sectors like renewable energy and digital technology, creating attractive conditions for foreign investors and protecting strategically vital industries.
Conclusion
KGIR 2024 demonstrated Kazakhstan’s potential as an economic center in Central Asia. The agreements reached at the forum reflect Kazakhstan’s commitment to long-term, sustainable development and strong international partnerships. With steady economic growth, support for local production, and strategic improvements to the investment climate, Kazakhstan is steadily integrating into the global economy, laying the foundation for competitiveness and sustainable progress.
