As part of the instructions given by Head of State Kassym-Jomart Tokayev in his Address to the Nation, the Government is implementing a set of measures to develop the economy, aimed at ensuring sustainable growth, supporting entrepreneurship, and increasing investment attractiveness. In the first nine months of 2025, Kazakhstan's economy grew by 6.3%. The drivers were transport, construction, trade, and industry.

Macroeconomics and financial stability

At the end of the first nine months of this year, Kazakhstan's economic growth reached 6.3%, which is 2.3 percentage points higher than at the beginning of the year. Growth accelerated from January to September: in January – 3.8%, in January-February – 5.4%, 5.6% in January-March, 6% in January-April, 6% in January-May, 6.3% in January-June, 6.3% in January-July, and 6.5% in January-August.

These rates were achieved through economic diversification and balanced development of various sectors. The main drivers of growth were transportation and warehousing services (+21.2%), construction (+14.9%), trade (+8.8%), mining (+9.3%), and manufacturing (+6.2%).

Growth in fixed capital investment forms a solid foundation for medium- and long-term sustainable development. From January to September this year, investment increased by 13.5% year-on-year, including a 30.7% increase in manufacturing. The upturn in investment is linked to growth in business activity, increased lending to businesses by second-tier banks, the implementation of infrastructure and investment projects, and the “Tariff in exchange for investment” and “Keleshek mektepteri” programs.

State support for business

In 2024, preferential financing measures covered about 26,000 projects worth 1.3 trillion tenge. A new preferential lending mechanism has been in place since 2025, providing subsidies for loans to micro and small businesses of up to 200 million tenge at an interest rate of 12.3% for a term of up to three years.

The “Orleu” program has been launched, under which entrepreneurs can receive loans of up to 7 billion tenge at 12.6% for a term of up to 10 years. Already, 1,095 projects worth 392 billion tenge have been financed. Two guarantee funds have been created on the basis of the Damu Fund.

• Guarantee Fund 1 has supported 1,618 projects worth 281 billion tenge, of which 154.4 billion tenge were guarantees.
• Guarantee Fund 2 has supported one large project worth 7.1 billion tenge (2.8 billion tenge in guarantees).

A unified register of more than 100 financial and non-financial support measures has been created. To monitor their effectiveness, the Baqylauda system has been introduced, ensuring transparency and control over the implementation of programs.

Reform of the public procurement system

On January 1, 2025, a new law on public procurement came into force. It aims to improve the quality of goods and services purchased, reduce the time required for procedures, and increase transparency. The time required for procurement has been reduced threefold, from 30 to 10 working days. Public monitoring has been introduced and the responsibility of suppliers has been increased.

A turnkey construction mechanism has been introduced, limiting the volume of subcontracted work (up to 30%). For minor purchases, the right to use a single source of goods up to 100 MCI and works and services up to 500 MCI has been introduced. For rural akimats, the threshold for purchases from a single source has been increased from 3,000 to 4,000 MCI. The volume of purchases from a single source has decreased from 34% to 26% since 2019.

A unified procurement platform has been created on the basis of JSC “Center for Electronic Finance”, integrating the platforms goszakup.gov.kz, zakup.sk.kz, and mitwork.kz. At the end of the first nine months of 2025, the volume of public procurement amounted to 9.4 trillion tenge, and the number of contracts with domestic producers was 140,712 for 399.86 billion tenge, which is significantly higher than last year's level (109,909 contracts for a total of 202.5 billion tenge).

Investment attractiveness of Kazakhstan

Kazakhstan retains its status as the leading investment destination in Central Asia. According to UNCTAD, of the five major greenfield projects in landlocked countries in 2024, four are being implemented in Kazakhstan. Foreign direct investment inflows amounted to US$17.2 billion, 45 new projects were implemented, and 6,200 jobs were created.

The main sectors of inflow are:

• mining – $6.5 billion,
• manufacturing – $2.8 billion,
• trade – $5.3 billion,
• professional and scientific activities – $0.9 billion.

The largest investors were Russia ($4.1 billion), the Netherlands ($3.8 billion), South Korea ($1.2 billion), Belgium ($1.2 billion), and China ($1.2 billion). At the end of the first half of 2025, gross FDI inflows amounted to $10.1 billion, which is 1.1% higher than last year.

The government continues its efforts to attract investment, develop business, and demonopolize the economy.

Sourse: primeminister.kz