Tokayev focuses on economic diversification and infrastructure in country development
President Kassym-Jomart Tokayev Emphasizes Economic Diversification and Infrastructure Development in Kazakhstan
During an expanded government meeting on Jan. 28, President Kassym-Jomart Tokayev highlighted economic diversification and advancing infrastructure development as crucial priorities for the government, as reported by Akorda.
In terms of economic diversification, Tokayev pointed out that in 2024, the manufacturing industry saw significant growth due to the implementation of 180 investment projects totaling 1.3 trillion tenge (US$2.4 billion). He urged the government to continue attracting high-quality investments to sustain this positive trend. The President also emphasized the importance of creating a conducive ecosystem to support and protect investors at all levels.
Furthermore, Tokayev stressed the need to expedite the launch of large-scale industrial products and recover assets that were illegally taken abroad. He instructed the government to finalize a work plan to support promising medium-sized enterprises by June and underscored Kazakhstan’s potential in rare and rare-earth metals like lithium, calling for investments to bolster extraction and processing in this sector.
Additionally, Tokayev highlighted the importance of enhancing economic ties with neighboring countries, particularly in the Eurasian Economic Union (EAEU) and Central Asia. He also identified tourism as a potential driver of economic growth, calling for the urgent development of necessary infrastructure with the involvement of private investors.
In the realm of transportation and logistics, Tokayev emphasized the acceleration of the development of the Trans-Kazakhstan railway corridor, focusing on key projects like the Moiynty-Kyzylzhar railway line and the modernization of routes connecting Kyzylzhar station to the Aktau port. He also proposed expanding the Altynkol-Zhetygen section to boost the potential of the transport corridor between China and Central Asia and enhancing multimodal transport hubs to integrate various transport modes.
The President underscored the need to establish an international air hub in Kazakhstan, simplify cargo handling procedures, and address the high cost of aviation fuel. He tasked the Antimonopoly Agency and the government to address these issues within the first half of the year.
Overall, President Tokayev’s priorities of economic diversification and infrastructure development aim to propel Kazakhstan towards sustainable growth and development in the coming years.
