Kazakhstan Leads Regional Investment with $15.7 Billion in 2024
Kazakhstan Emerges as Top Investment Destination in North and Central Asia
Kazakhstan has solidified its position as a leading investment destination in North and Central Asia, attracting a significant influx of $15.7 billion in new projects, as reported by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) on Dec. 25. This figure marks an impressive 88% increase year-on-year, representing 63% of all investments in the region.
Investment inflows into North and Central Asia as a whole saw a 27% growth, reaching $24.8 billion in 2023. Kazakhstan played a key role in this growth, accounting for 63% of the region’s total FDI in 2024. Notable investments include $11 billion from Qatar’s UCC Holding, aimed at establishing two gas processing plants, a compressor station, and additional trunk gas pipelines across the country.
During President Kassym-Jomart Tokayev’s visit to Qatar, key agreements were signed between QazaqGas and Qatar’s UCC Holding to advance projects such as gas processing plants, a compressor station, and crucial gas pipelines within Kazakhstan.
The report emphasizes the importance of proactive investment promotion by line ministries and investment promotion agencies to ensure success in emerging investment destinations. It highlights the need for the right policy environment and comprehensive support services to attract and retain investors.
Looking at investment trends in the broader North and Central Asia region, countries like Uzbekistan, the Kyrgyz Republic, Azerbaijan, Turkmenistan, Georgia, and Armenia also experienced robust investment activity. However, outward investment from the subregion decreased in 2024, with Russia accounting for the majority of outflows.
In the Asia-Pacific region, FDI totaled $292 billion in the first three quarters of the year, with leading recipients including India, Australia, China, and Japan. The report notes the evolving landscape of FDI in the region, attributing changes to global economic uncertainties, geopolitical shifts, and technological advancements.
Sectoral trends show that the services sector received a significant portion of inward FDI in the Asia-Pacific region, with the manufacturing sector also attracting substantial investments. The report highlights key sectors such as semiconductor, electronic components, and metals, which remain popular among investors.
As Kazakhstan continues to attract significant investments and strengthen its position as a top investment destination in the region, proactive measures to promote and support investment activities will be crucial for sustaining this positive trend in the future.
