So, here’s the scoop from Almaty—come April 1, Kazakhstan is revamping its National Digital Investment Platform. Why? To beef up transparency and efficiency in how it doles out state support. This was laid out by Prime Minister Olzhas Bektenov during a pow-wow on February 17.
Kazakhstan will form an updated and verified pool of investment projects within its National Digital Investment Platform by April 1. Photo credit: Prime Minister’s press service.
Now, the whole operation’s getting spearheaded by the Kazakh Invest national company. These folks are syncing up with everyone—state bodies, regional admins, the Samruk Kazyna fund, and Baiterek holding. The aim? To verify and spruce up the data on the platform for swifter decisions on investments. [Learn more about Kazakh Invest](https://www.invest.gov.kz/).
The platform, bursting with potential, currently hosts 1,319 projects valued at 80 trillion tenge, or about $165 billion USD. But hey, no system’s perfect. Rustam Karagoyshin from Baiterek mentioned a few hiccups—up to 30% project duplication and missing data on project readiness.
Why the fuss? It’s part of a grander plan to morph Kazakhstan’s economic growth via hefty investments. By 2029, the big wigs are aiming for a cumulative $400 billion. As Deputy Prime Minister Serik Zhumangarin put it, by doing so, they’re shooting for a 23% GDP investment share. That’s a big leap from today’s 14-15%!
And don’t sleep on this—investments are primarily targeting sectors like metallurgy, petrochemicals, gas production, and pharmaceuticals. An economic growth policy is in the works, outlining “investment orders” based on what local businesses crave. The whole thing’s about smarts and dynamism. [Check out the economic landscape of Kazakhstan](https://www.worldbank.org/en/country/kazakhstan/overview).
Zhumangarin put it this way: it’s a shift from just rolling out the welcome mat for investors to actively piecing together investment projects. The state’s rolling up its sleeves and getting in the game.
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Platform Highlights:
- 1,319 potential projects
- Valued at 80 trillion tenge ($165 billion USD)
- Some data issues like duplication and completeness
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National Development Plan:
- $400 billion in investments by 2029
- GDP investment share to jump to 23%
- Fixed capital investment to increase 2.5 times by 2029
So, the ball’s rolling. Kazakhstan’s looking to hit the fast lane on its investment journey, waving goodbye to the status quo and hoping for some serious economic acceleration.
