A newly published report by Micky’s Institute of Global Research and Development highlights Kazakhstan’s growing role as the premier investment hub in Central Eurasia, even as global capital flows face mounting pressure from geopolitical uncertainty and economic fragmentation. While worldwide foreign direct investment (FDI) recorded double-digit declines in 2024, Kazakhstan continued to attract substantial inflows, reinforcing its image as a reliable and long-term destination for international capital.
Data from the National Bank of Kazakhstan shows that the country consistently attracts more than USD 20 billion in FDI each year. Inflows totaled USD 23.8 billion in 2021 and USD 23.9 billion in 2023, with approximately USD 10 billion recorded in the first half of 2025 alone. Kazakhstan now accounts for close to 60% of all foreign investment entering Central Asia, underscoring its regional dominance.
Against a backdrop of declining investor confidence across many emerging markets, Kazakhstan’s performance stands out. Analysts link this resilience to institutional reforms introduced under President Kassym-Jomart Tokayev, commonly described as the “Tokayev investment cycle.” These reforms prioritize active government coordination, faster decision-making, and a strategic reorientation of foreign investment toward non-resource sectors of the economy.
Macroeconomic stability remains central to Kazakhstan’s investment proposition. Despite softer global commodity conditions, the economy expanded by approximately 6% in 2025, supported by infrastructure development, logistics, services, and increasing investment in renewable energy alongside the traditional energy sector. International assessments reflect this progress: in the 2025 IMD World Competitiveness Ranking, Kazakhstan ranked 34th out of 69 economies, ahead of Japan, India, and Spain, with strong scores in tax competitiveness and management efficiency.
Digital governance has further strengthened the investment environment. Kazakhstan ranks 24th globally in the UN E-Government Development Index and is among the world’s top ten countries for online public service quality, enabling faster approvals, reduced administrative costs, and greater transparency for investors.
Investment protection and targeted incentives form the backbone of the country’s current strategy. The Investment Policy Concept for 2024–2029 emphasizes sector-specific mechanisms with measurable outcomes, focusing on logistics, renewable energy, manufacturing, agri-processing, and digital infrastructure. Since 2023, the Government’s Investment Headquarters has supported more than 210 projects with a combined value of approximately USD 113 billion and driven over 172 legislative amendments aimed at removing administrative barriers and strengthening investor safeguards.
Recent developments include the launch of a KIA automobile manufacturing facility in 2025, generating around 1,500 jobs, and the approval of 33 large-scale Investment Agreements in 2025 alone, totaling approximately KZT 11.87 trillion. These agreements provide long-term stability and predictable conditions for anchor investors across priority sectors.
Kazakhstan has also modernized its development finance architecture. National holding Baiterek has been restructured into an investment-focused holding with expanded mandates covering infrastructure, industrial development, and export-oriented production. The Astana International Financial Centre continues to serve as a cornerstone of the investment ecosystem, operating under English common law with an independent court and regulator. Since its establishment in 2018, approximately USD 19 billion has been channelled through the AIFC, with enhanced tax and investment residency programs introduced in 2025.
Alongside investment reforms, Kazakhstan maintains a strong focus on fiscal stability and social development. Planned state budget expenditures for 2026 amount to approximately KZT 27.3 trillion, or about 14.8% of GDP, with nearly 39% allocated to social spending. Public finance management is increasingly aligned with OECD and EU standards, improving transparency and long-term fiscal predictability.
As global investors search for resilient, reform-oriented jurisdictions capable of absorbing long-term capital, the report concludes that Kazakhstan’s blend of institutional reform, targeted incentives, digital governance, and fiscal discipline continues to position it as a leading investment hub across the Eurasian region.
About Micky’s Institute of Global Research and Development
Micky’s Institute of Global Research and Development is a private, forward-looking think tank focused on interdisciplinary research across global economics, technology, sustainability, and public policy. The Institute bridges academic insight with real-world application, delivering data-driven analysis, strategic intelligence, and practical solutions for governments, institutions, and enterprises worldwide.
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