Capital receives 100 billion tenge investment proposals from private entities
In Astana, the capital of Kazakhstan, a recent meeting led by Akim Jenis Kasymbek discussed the attraction of private investments for the development of the city. The proposed projects, aimed at boosting Astana's economic growth, focus on industrialization and high-value-added production sectors.
Kazakhstan is currently undertaking 17 major projects with a total investment of approximately US$26.7 billion (14.3 trillion tenge). These projects are expected to create over 24,600 new jobs nationwide, with around 3,000 of these jobs linked to the initiatives in Astana.
Key aspects of these projects include the development of special economic zones and industrial parks to foster domestic processing and manufacturing. Raw materials will be redirected towards local processing enterprises such as KAZ Minerals Smelting and Mineral Product International. Building supply chains around new automobile factories, including KIA Qazaqstan and Astana Motors Manufacturing, is also a priority.
Other initiatives include the establishment of factories such as the Tengri Tyres tire plant, Kazakhstan Mobility Engineering multimedia systems plant, and Almaty Autoparts Production seat manufacturing plant. New automotive-related production facilities such as Vector Pavlodar for cast aluminum wheels and Qarmet for automotive steel production are also part of the plan.
These initiatives aim to increase Kazakhstan's exports by about US$11.2 billion annually while reducing imports by approximately US$2.8 billion, thus strengthening domestic industrial capacity. The projects align with broader strategies to accelerate Kazakhstan's industrial sector growth, supported by government investment mechanisms and incentives to attract and enlarge industrial activity, particularly in Astana.
Astana is also fostering IT sector growth through programs supporting startups and tech education, which further contributes to job creation and economic diversification. However, these are separate from the heavy industrial projects estimated to generate thousands of jobs.
The total investment volume of the presented projects is approximately 100 billion tenge. Regional investment staff meetings are held on a regular basis to review proposals, including projects for a multifunctional logistics distribution complex, a network of household stores, a metallurgical laboratory complex, a production complex for manufacturing lighting masts, and a geochemical laboratory.
Akim of Astana, Jenis Kasymbek, shared details about the meeting with investors on his Instagram page. However, no information was provided about the source of these investor proposals. The Akim of the capital instructed relevant departments to closely cooperate with investors and provide comprehensive support. No information was provided about any previous or future meetings with investors beyond the one mentioned in this article.
The attraction of private investments is intended to foster stable economic growth in Astana. In 2024, approximately 2 trillion tenge was attracted into the city's economy. However, no specific information was given about the timeline for these projects or the industries or sectors they are targeted towards, beyond the general categories mentioned.
Sources: [1] Vechernyaya Astana [4] Additional sources (not provided)
The manufacturing industry in Astana, Kazakhstan, is set to expand with private investments, contributing to the development of new jobs and industries. The Special Economic Zones and industrial parks, such as those for KIA Qazaqstan and Astana Motors Manufacturing, will foster domestic processing and manufacturing, driving exports and reducing imports.
The financial aspect of these projects, amounting to approximately 100 billion tenge, extends to various sectors including automotive production, steel production, and tire manufacturing, aiming to strengthen Kazakhstan's industrial capacity. The attraction of these private investments aligns with broader strategies to accelerate Astana's economic growth and industrial sector development.
