Baku, Azerbaijan, January 3. Improving Kazakhstan’s investment and business climate is a top priority for my administration, said President Kassym-Jomart Tokayev in a recent interview with local media, TurkicWorld reports.
Speaking about the country’s ongoing economic transformation, Tokayev highlighted the efforts made to foster entrepreneurial initiative and streamline the business environment.
"We have made significant strides in creating favorable conditions for entrepreneurs," Tokayev stated. "Last year, we passed a new law aimed at facilitating business operations, ensuring that government oversight transitions from reactive checks to preventative measures."
He further discussed the government’s strategy of decriminalizing certain economic offenses, including the suspension of arrests related to 29 types of economic violations, emphasizing that these steps are designed to encourage business development while maintaining legal and regulatory standards.
The president also pointed out that small and medium-sized businesses (SMBs) are central to Kazakhstan’s economic growth. The SMB sector has been supported through subsidies, preferential loans, and loan guarantees. Today, SMBs employ over 4.3 million people, nearly half of Kazakhstan’s workforce, contributing significantly to the economy. "Entrepreneurial initiative is undeniably driving our economic growth," Tokayev remarked.
While focusing on small and medium businesses, Tokayev also underscored the government’s support for large enterprises. He expressed satisfaction with the growing social responsibility demonstrated by big businesses, which are increasingly forming long-term partnerships with local communities to address social issues.
"The emergence of a new wave of entrepreneurs in Kazakhstan is encouraging. These individuals possess progressive visions and are implementing advanced technologies that allow them to compete globally," the President added, noting the positive impact of such businesses on the country’s competitiveness.
In recent years, foreign businesses have been increasingly establishing branches in Kazakhstan, contributing to the diversification of the economy and enhancing healthy competition. This development aligns with the government’s goal of internationalizing Kazakhstan’s market and creating a more competitive environment.
The establishment of the Investment Headquarters under the government has played a key role in streamlining investment decisions. By operating under the "one window" principle, the headquarters simplifies the process for investors, ensuring efficiency and transparency.
Tokayev highlighted that the government’s efforts are already yielding results. According to the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), Kazakhstan attracted $15.7 billion in foreign direct investment (FDI) for new projects in 2024, an impressive 88% increase from the previous year. This makes Kazakhstan the leader in the region of Northern and Central Asia, accounting for 63% of the region’s total FDI.
The president reiterated his commitment to meeting with business representatives and investors to support their initiatives. "The government will continue to engage with businesses, ensuring that we work together to foster a thriving investment climate," Tokayev said. "Any attempts to pressure businesses will be met with consequences. We will hold officials and law enforcement accountable for such actions."
At the same time, Tokayev emphasized that businesses must comply with the law and refrain from participating in fraudulent schemes. The government, he concluded, remains committed to creating a conducive environment for investment and entrepreneurial success, with a clear focus on both economic development and social responsibility.
