(10 February 2026 | Source: press service of Akorda)
Kazakhstan needs a full-scale launch of a new investment cycle aimed at attracting high-quality private capital and developing high-tech industries.
This was stated by President Kassym-Jomart Tokayev at an expanded government meeting, emphasising that the positive investment trend does not yet align with long-term development objectives.
INVESTMENT TRENDS AND THE KEY PROBLEM
The head of state noted that since 2022, the accumulated volume of foreign direct investment has exceeded 84 billion dollars, and fixed capital investments have grown by almost 50%. However, he said that even with the improvement in investment inflows last year, the pace of attracting them remains insufficient.
The President stressed that the state must create conditions for private capital, rather than relying primarily on budgetary resources. He highlighted the importance of maintaining commitment to the principles of a market economy.
PRIVATE BUSINESS AND THE LIMITATIONS OF THE QUASI-PUBLIC SECTOR
According to Kassym-Jomart Tokayev, the country needs a comprehensive strategy for attracting new, high-quality investments, and the key role in this process should belong to private business.
"Private business is called upon to become the main source of high-quality investment inflow, job creation, and growth in citizens' incomes," the President stated.
At the same time, he drew attention to the need to prevent the restriction of private initiative by development institutions and the quasi-public sector, including national holdings and funds, whose management structures, he said, are overloaded with excessive administrative staff.
PRIORITY AREAS FOR INVESTMENT
The President identified a number of investment-attractive areas, the development of which should be based on the principles of state-business partnership. These include rare earth metals, petrochemicals, digital infrastructure, renewable energy sources, transport and agro-processing.
He noted the growing interest of foreign investors in projects related to critical materials against the backdrop of rapid technological development, and called this a global competitive advantage for Kazakhstan.
MONITORING AGREEMENTS AND THE ROLE OF THE FINANCIAL SECTOR
The President paid special attention to the implementation of investment agreements reached during foreign visits. According to him, the total value of commercial agreements last year amounted to around 75 billion dollars, and delays in implementation are unacceptable. The ultimate responsibility for results will lie with senior executives.
Tokayev also focused on the role of the financial sector, pointing out that despite 84% of banking system assets, the share of business lending remains low. He named stabilising and reducing inflation as a key condition for affordable financing.
PPPs AND GEOLOGICAL EXPLORATION
The head of state also stated that the potential of public-private partnerships (PPPs) is underutilised, and stressed the need to attract private capital into geological exploration to avoid its complete dependence on budget funding.