Kazakhstan to increase investment in economy from 15% to 23% of GDP by 2029

ASTANA. Feb 12 (Interfax) - Kazakhstan plans to increase investment in the economy from the current 15% to 23% of GDP by 2029, according to the national development plan, Deputy National Economy Minister Arman Kasenov said.

"According to the forecasts contained in the national development plan, the investment-to-GDP ratio will increase from the current 14%-15% to 23% by 2029, meaning significant growth in investment is expected," Kasenov said Thursday at a roundtable in the Senate.

He said a gradual increase to 23% by 2029 would generate additional investment in the amount of $120 billion. The total volume of investment in 2025-2029 will amount to $400 billion.

"To achieve the required level of investment, the government will implement a proactive economic growth policy, which involves an active role of the state, identifying priority and promising niches, creating large, successful, highly productive, export-oriented projects in them, and ensuring their financing," Kasenov said.

He said the government's efforts would be focused on increasing economic complexity, ensuring the transition from raw materials to finished products. The value of new projects aimed at maximizing gross value added from raw commodities and agricultural processing should exceed $100 billion over the next five years.

He also said the role of the Baiterek holding had been strengthened. The national investment holding company has been tasked with financing investment projects in the amount of 8-10 trillion tenge annually.

The National Economy has said gross incoming foreign direct investment rose 10.9% year-on-year to $14.9 billion in 9M 2025.