President of Kazakhstan Kassym-Jomart Tokayev Chairs the 37th Plenary Session of the Foreign Investors’ Council

In his opening remarks, the Head of State emphasized that the Foreign Investors’ Council will continue to serve as a reliable platform for strategic engagement between the government and its international partners.

“For more than twenty years, this forum has played a crucial role in fostering an investment-oriented ecosystem in Kazakhstan. We are committed to pursuing comprehensive reforms aimed at enhancing the investment climate, improving transparency, and simplifying the conditions for doing business, including through the active involvement of the Council,” the President stated.

According to President Tokayev, expert forecasts suggest that global GDP growth will slow to approximately 2.9% in the coming years.

“We are currently witnessing growing inflationary pressures, increasing disruptions in global supply chains, and a rise in uncertainty within the business environment. These trends may further weaken the global economic outlook. In this context, constructive international dialogue becomes even more essential. Like a number of other countries, Kazakhstan has managed to withstand external shocks during times of crisis. In the first five months of this year, our economy grew by 6%. Key drivers of this growth included transport and logistics, construction, trade, as well as the mining and manufacturing industries,” the Head of State noted.

President Tokayev highlighted that Kazakhstan’s strategic location, its human capital, and wide-ranging reforms create substantial opportunities for both investors and the national economy. He elaborated on the work of the Investment Headquarters, which operates on a “here and now” principle to promptly address investor issues. At present, the Headquarters supports 137 investment projects totaling $70 billion. In addition, 140 legislative amendments have been introduced on his initiative to systematically resolve investor-related issues.

A special “prosecutorial filter” mechanism has been implemented to safeguard investor rights. As of this year, government agencies are prohibited from conducting inspections, initiating administrative cases, filing lawsuits, or imposing restrictions on investors without prior approval from the General Prosecutor’s Office.

“We have launched the National Digital Investment Platform, which consolidates all government services related to investment into a one-stop-shop system—from initial consultations to obtaining permits. Furthermore, to stimulate business activity and attract private investment into the economy, a new Tax Code has been submitted to the Senate. It provides targeted incentives for investors involved in local production and support for exporters of high value-added goods,” the President said.

The Head of State also outlined promising areas for cooperation with investors, including the development of Kazakhstan’s industrial potential.

“The mining sector remains a cornerstone of Kazakhstan’s manufacturing industry. Recognizing the global importance of the mining and metallurgical industries, Kazakhstan has established a stable and investor-friendly jurisdiction through openness and comprehensive legislative regulation. As a result of these reforms, world-renowned companies such as Rio Tinto, Fortescue, Ivanhoe, First Quantum, and Tech Resources have been attracted to conduct geological exploration in Kazakhstan. The new Tax Code introduces royalty mechanisms designed to incentivize in-country processing of raw materials. We are confident that, thanks to our rich mineral resource base, modern subsoil use legislation, and transparent tax system, Kazakhstan will take on a strategic role in global critical mineral supply chains,” said Kassym-Jomart Tokayev.

He also drew attention to Kazakhstan’s active steps toward developing raw material processing and a new industrial base. The President highlighted successful cooperation with Wabtec, Alstom, and Stadler in the railway engineering sector. In particular, Alstom is building service centers and plans to begin production of next-generation locomotives by 2028. Wabtec has invested $200 million in rolling stock powered by alternative fuels. Stadler Rail has constructed a plant with a capacity of 100 railcars per year.

President Tokayev emphasized the high potential of the country’s agro-industrial complex. Kazakhstan ranks sixth globally in terms of arable and pasture land area and is among the top ten global grain exporters. The President cited the successful operations of foreign investors such as PepsiCo, Fufeng Group, and Dalian Hesheng, who are implementing advanced technologies and helping generate sustained demand for local products.

The Head of State placed particular focus on strengthening Kazakhstan’s position as a strategic transit hub through the large-scale modernization of its transport infrastructure.

“By 2029, we plan to modernize 11,000 kilometers of railway lines and build an additional 5,000 kilometers of new track. This year, the 830-kilometer Dostyk–Moyynty railway line will be commissioned—two years ahead of schedule—boosting capacity along this strategic route fivefold. Expansion is also planned for routes such as Darbaza–Maktaaral, Moyynty–Kyzylzhar, and Altynkol–Zhetygen, which will further increase rail freight volumes. Simultaneously, efforts are underway to improve the quality and safety of road infrastructure. Last year, three major international highways were launched: Taldykorgan–Ust-Kamenogorsk, Karaganda–Almaty, and Aktobe–Atyrau–Astrakhan. As a result, the length of Kazakhstan’s international highway corridor increased by 1,600 kilometers—twice the total of 2023. This year, construction and renovation work is planned for over 13,000 kilometers of roads,” the President reported.

New international terminals were also opened at the airports of Almaty, Kyzylorda, and Shymkent, increasing their throughput capacity sixfold.

President Tokayev reminded the audience that Kazakhstan ranks among the top 30 most digitally advanced countries according to the United Nations. Since 2018, the number of fintech companies in the country has quadrupled, and over 4,000 companies are now registered with the Astana International Financial Centre (AIFC), including cryptocurrency exchanges and payment systems. The Head of State called on international partners to collaborate in developing digital and artificial intelligence infrastructure.

“The AIFC ranks first among financial centers in Eastern Europe and Central Asia in global ratings. It is also a regional leader in green and digital finance. Today, 89% of transactions in Kazakhstan are cashless. Over the past four years, mobile banking usage has increased by 460%. We plan to create an innovative pilot zone—CryptoCity—where cryptocurrency can be used for purchasing goods, services, and other purposes. The development of artificial intelligence is of strategic importance to our country. AI is becoming a key driver of future development, competitiveness, and digital sovereignty,” the President emphasized.

In conclusion, Kassym-Jomart Tokayev expressed confidence that long-term, mutually beneficial cooperation between the state and the private sector is key to achieving sustainable and inclusive economic growth.

Speakers at the session included Odile Renaud-Basso, President of the European Bank for Reconstruction and Development; Yersain Nagaspaev, Minister of Industry and Construction of Kazakhstan; Yerlan Dosymbekov, Chairman of the Board of the Foreign Investors’ Council Association; Bhargav Dasgupta, Vice President of the Asian Development Bank; Kaan Terzioglu, CEO of VEON Group; Zhang Daowei, Vice President of CNPC; and Martin Vaujour, President of Alstom for Africa, the Middle East, and Central Asia.