Kazakhstan to allocate $15 billion for real economy projects in 2025

The central theme of the 2025 forum was Customer-Centric Kazakhstan: a new model of industrialization built around the client.

In his remarks, Serik Zhumangarin stressed that this year marks a turning point for Kazakhstan’s economy. The share of the oil sector in GDP is steadily declining, while manufacturing continues to grow. By the end of 2024, oil accounted for 8.1% of GDP, whereas manufacturing rose to 12.4%.

The Deputy Prime Minister noted that 2025 is a crucial year for rethinking the drivers of economic growth. The government is currently overseeing 17 major projects worth about $27 billion in areas such as petrochemicals, agricultural processing, and mechanical engineering. These include automobile plants set to launch soon in Kostanay and Almaty. At the same time, a National Infrastructure Plan running through 2029, with a budget of roughly $80 billion, is being implemented.

Particular attention was given to the recapitalization program of the development finance institution Baiterek, launched in 2025.

“This year we are investing 1 trillion tenge in Baiterek’s recapitalization, despite financial challenges and external economic pressures. Through Baiterek’s mechanisms, we are leveraging an additional 7 trillion tenge, including 4 trillion in foreign currency resources to support export-oriented industries. Altogether, about 8 trillion tenge — nearly $15 billion — will be channeled into real sector projects this year. This will provide an extra boost to the economy, adding about 1.3% to GDP growth already this year. In essence, this is a worthy alternative to oil,” the Deputy Prime Minister said.

According to Zhumangarin, transport infrastructure remains a key driver of economic growth. In 2025, 13,100 kilometers of highways and 4,000 kilometers of railway lines will be built or repaired. The Dostyk–Moyynty section is nearing completion, while construction of the Moyynty–Kyzylzhar line will begin next year. The Beineu–Saksaul project will further strengthen the Middle Corridor, with support from the EBRD and the World Bank, which have confirmed their readiness to provide more than 800 billion tenge.

At the same time, the Deputy Prime Minister emphasized that road maintenance requires a different approach, as many highways are not economically viable and state guarantees often turn into de facto obligations. To address this, a new set of proposals is being developed to introduce a road upkeep system comparable to railway maintenance standards, which would help accelerate infrastructure development.

Zhumangarin also pointed to the prospects for expanding international transit routes. Rail freight along the Trans-Caspian International Transport Route is projected to exceed 4.5 million tons in 2025, with potential to grow to 7–10 million tons. This highlights the need for reliable access to global ports to ensure product distribution. In this context, a memorandum has been signed with Afghanistan to construct the Turgundi–Herat railroad, which will form part of the broader CASA (Central Asia–South Asia) corridor, connecting Kazakhstan to routes through Turkmenistan, Afghanistan, and Pakistan.

According to the Deputy Prime Minister, the implementation of these projects in the next 5–10 years is crucial for Kazakhstan’s sustainable entry into new export markets and for ensuring stable economic development under diversification.

As reported earlier, Qazaqstan Investment Corporation JSC (QIC, a subsidiary of Baiterek NMH JSC) and the management company Qazaqstan Venture Group Ltd. have announced cooperation within the framework of the Alem Ventures Fund Limited Partnership Venture Fund.