Kazakhstan elaborates 2029 National Development Plan
Kazakhstan’s Agency for Strategic Planning and Reforms drafted the country’s 2029 National Development Plan, Kazinform News Agency reports.
The 2029 National Development Plan outlines the priorities of Kazakhstan’s development in a midterm outlook.
As a result of implementation of the plan the country's GDP is set to double up to $450 billion by 2029, while midterm average economic development paces will be at 6-7%. Per capita GDP is expected to rise by 1.4fold and median wage will increase by 1.9fold in real terms.
The document also outlines five principles underlaying the economic transformations:
- Liberalization and stimulation of competition for increasing global competitiveness and improvement of the quality of goods and services;
- Protection of entrepreneurship and clear, predictable and attractive economic policy for investors, which will enable to provide sufficient investments for economic growth;
- Unlocking Kazakhstanis' potential with the focus on ensuring quality education and support of entrepreneurship and creative initiative;
- Focus on productivity improvement and complexity of the economy through the expansion of innovation activity, modernization and digitalization of industries and enterprises;
- Prevention of critical gaps in the development of regions and creation of conditions for unlocking the regions’ potential and ensuring more economic independence;
The 2029 National Plan determines 17 development trends united in four blocks:
- Ensuring quality of life;
- Building a stable foundation for economy;
- Development of new points of economic growth;
- Cross-cutting transformation of economy and social life;
The first block covers the following areas: quality healthcare, education, social protection and comfortable environment;
The second block focuses on the development of such areas as mineral resources (oil and gas, metals and other minerals), energy and processing industry.
The third block includes transport and logistics, agro-industrial complex, innovations, digital and creative economy, as well as tourism.
The fourth block focuses on the following areas: creation of a dynamic business environment, new investment cycle, improvement of environmental sustainability, effective state finances, ensuring rule of law and raising efficiency of public administration.
The full text of the 2029 National Development Plan is available here.
