ASTANA – Kazakhstan will allocate 6.5 trillion tenge (US$14.3 billion) from the National Fund by the end of 2029 to modernize infrastructure nationwide, President Kassym-Jomart Tokayev said in his annual state-of-the-nation address on Oct. 28. Tokayev outlined a People’s Construction program to develop social, transport and engineering infrastructure, create jobs and stimulate economic growth.
He described it as potentially the largest infrastructure project in the country’s history. “I am deeply convinced that this initiative will provide jobs for hundreds of thousands of people, and our entire nation, especially the younger generation, will benefit from it,” Tokayev said.
He characterized the program as a nationwide effort to renew and rebuild civilian infrastructure, but warned that relying solely on state resources would be inappropriate for a project of this scale. “The logic behind the decisions being made is simple: state funds must become a guarantee for attracting private investment,” President Tokayev said.
He also highlighted that Kazakhstan’s gold and foreign exchange reserves, along with the National Fund’s assets, have exceeded $130 billion. “The main goal and mission of the National Fund is to carefully preserve and increase the country’s wealth, as well as use it for the benefit of present and future generations,” Tokayev said, noting that the fund had contributed to the country’s financial stability over the years.
Roads and air corridors: Kazakhstan’s logistics ambitions Tokayev said global logistics was undergoing a major transformation, with vulnerabilities in maritime routes increasing the strategic importance of land-based transport corridors. According to him, around 85% of freight transported from China to the European continent already passes through Kazakhstan.
However, he warned that the country could not afford to remain a passive transit territory. “Being satisfied with the current favorable situation would condemn us to the role of a follower in the future,” Tokayev said. “We must already move toward becoming a full-fledged organizer of international freight flows.” He called for the development of domestic logistics operators, cargo consolidation and distribution centers, and new manufacturing facilities and commercial sites around transport hubs.
Tokayev also instructed the government to complete the high-quality reconstruction of all road border crossing points next year. He described the condition of Kazakhstan’s roads as an urgent problem, criticizing central and local executive bodies for shifting responsibility and allowing the issue to remain unresolved.