ALMATY – Kazakhstan has entered the group of countries with high levels of investment activity, according to World Bank indicators presented by government officials this week, as authorities seek to launch a new investment cycle focused on infrastructure, technology and productivity growth.
World Bank and Kazakhstan Discuss New Strategies to Boost Investment Inflows on May 18. Photo credit: PM’s press service. Speaking during a May 18 government session in the Senate, the Parliament’s upper chamber, Vice Minister of National Economy Arman Kassenov said Kazakhstan outperforms most countries globally in several key investment metrics.
According to him, Kazakhstan’s gross capital formation stands at 27% of GDP, placing the country ahead of 75% of nations worldwide. “By another metric, gross fixed capital formation as a share of GDP, Kazakhstan stands at 24%, which is higher than 68% of countries in the world,” he said, highlighting that these indicators create a foundation for maintaining strong economic growth rates in the coming years.
“At the same time, we intend to continue increasing investment volumes to strengthen the economy and improve citizens’ well-being,” he added. According to Kassenov, investment in fixed capital accounts for 14% of Kazakhstan’s GDP, while the government’s target is to raise the figure to 23%.
The investment figures were discussed days after Prime Minister Olzhas Bektenov held talks with World Bank experts in Astana on May 16 as part of a broader effort to implement what authorities describe as a new investment-driven stage of economic development. The meeting included World Bank Regional Director for Central Asia Najy Benhassine, National Bank Chairman Timur Suleimenov, Presidential Adviser and Chairman of the Agency for Strategic Planning and Reforms Asset Irgaliyev, Deputy Prime Minister and Minister of National Economy Serik Zhumangarin and other senior officials.
Discussions focused on Kazakhstan’s transition toward a high-income economy, including measures aimed at boosting productivity, modernizing infrastructure, accelerating digitalization and expanding artificial intelligence and innovative financing tools. Opening the meeting, Bektenov said President Kassym-Jomart Tokayev has made economic diversification and investment attraction one of the country’s central priorities.
“Competitiveness increasingly depends on the quality of economic policy, the speed of institutional change and the ability to create a predictable and attractive business environment,” Bektenov said.