EBRD to double its investment in Kazakhstan economy
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Deputy Prime Minister - Minister of National Economy Nurlan Baibazarov had a meeting with Hüseyin Özhan, Acting Managing Director of the European Bank for Reconstruction and Development for Central Asia and Mongolia. The sides discussed the state of the current projects and EBRD’s plans on financing new ones, having noted an important role of investment attracted to ensure sustainable socio-economic development of the country, Kazinform News Agency reports citing the press service of the Kazakh Government.
Hüseyin Özhan said the EBRD planned to double its investment in Kazakhstan in 2024. Together with KEGOC (Kazakhstan Electricity Grip Operating Company), the EBRD is working on a large project which can help ensure power supply reliability in the country’s west.
Previously, the sides agreed on implementation of the largest territorial project - construction of new sewage treatment facilities in the city of Aktobe. Funds were allocated to enhance the capacities of the country’s leading salt producer - JSC Araltuz, as well as to support women and youth entrepreneurship. In June 2024, a new passenger terminal started operating at the Almaty Airport. Its construction was also financed by the EBRD. The EBRD even acquiared a minority stake of 5% of Kazakhstan’s flagship carrier Air Astana.
According to Nurlan Baibazarov, Kazakhstan intends to expand cooperation with the EBRD both at the country and regional levels and supports the EBRD’s aspiration to invest in private sector.
Our country is ready for mutually beneficial work with the EBRD to attract investment for the implementation of energy, transport-logistics, RES and private business projects," the Vice Prime Minister noted.
EBRD has channelled €10.2 billion of investments in 324 projects in Kazakhstan to date. Currently, the EBRD’s portfolio in Kazakhstan includes 121 projects worth €2.9 billion.
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March economic snapshot: Regional and sectoral inflation insights
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The Bureau of National Statistics' most recent annual inflation figures revealed notable rises in a number of industries. Prices for consumer products, housing utilities, services, and transportation increased over the same period last year, the Bureau of National Statistics reports.
Compared to March last year, tariffs for cold water increased by 88.4%, water disposal - by 23.7%, central heating - by 19%, hot water - by 14.6%, electricity - by 14.3%, gas transported through distribution networks - by 13.3%, garbage collection - by 11.1%, payment for housing maintenance - by 11%.
Prices for services of organization of comprehensive recreation increased by 47.3%, connection services - by 13.9%, health services - by 13.4%, maintenance and repair of personal vehicles services - by 12.9%, hairdressers and personal service establishments - by 12.6%, catering services - by 11.3%, recreation and sporting activities services - by 9.2%. Travel by rail passenger transport increased by 23.6%, city bus - by 11.2%, air passenger transport - by 10%. The cost of renting housing increased by 14.9%.
The price level for audiovisual and photographic equipment increased by 48%, jewelry and watches - by 26.6%, new cars - by 21.6%, carpets and other floor coverings - by 13.9%, clothes and shoes - by 10.9%, furniture and household items - by 10%. Liquefied gas in cylinders rose in price by 23%, firewood - by 14.8%.
Increases in prices was noted for potato by 66.4%, bulb onions - by 32.2%, cabbage - by 27.3%, mineral and drinking water - by 17.1%, sunflower oil - 16.8%, confectionery - by 15%, tomatoes - by 14.9%, bananas - 14.6%, alcoholic drinks and tobacco products - by 13%, butter - by 12.2%, fruit and vegetable juices - by 11.4%, beef - by 11.2%, gold drinks - by 11.1%, fish and seafood - by 10.6%. A decrease in prices was observed for buckwheat by 17.7%, eggs - by 8.3%, carrot - by 7.4%, rice - by 6.3%.
Regionally in March 2025, the inflation rate exceeding the republican average was in seven regions, of which the highest was in Astana city (13.3%), Karagandy (12.1%), Akmola (12%) regions.
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Need to focus on optimising business processes
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At the Government session chaired by Prime Minister of the Republic of Kazakhstan Olzhas Bektenov considered issues of development and digitalisation of public services, primeminister.kz reports.
The report was made by the Minister of Digital Development, Innovation and Aerospace Zhaslan Madiyev. On the work of CONov and the procedure for providing services to the public reported Chairman of the Board of the Government for Citizens State Corporation Arman Kenzhegaliev, on the implementation of socially important projects in the "e-Government" General Director of BTS Digital Nurtay Abilgaliev, on the order of public services in banking systems Chairman of the Board of Kaspi.kz Mikhail Lomtadze and Chief Executive Officer of Freedom Holding Corp. Timur Turlov.
According to the Ministry of Digital Development, Innovation and Aerospace Industry, today in Kazakhstan the population is provided with 1382 public services, 1265 of which are provided in electronic format (91.5%), and 117 in paper format.
Prime Minister noted that on the instructions of the Head of State since 2020 active work on simplification and debureaucratisation of public services, creation of a unified system of e-Government is being carried out. Special attention is paid to improving the accessibility and convenience of online services. To date, the work carried out has allowed Kazakhstan to enter the top 10 countries in the world in the provision of digital public services. Thus, the proactive format provides, for example, automatic assignment of IIN to a newborn, registration of birth certificate via SMS and automatic calculation of benefits. Positive results of interaction with banks were also noted.
In general, we need to focus on optimising business processes in public services so that users get the necessary maximum "in two clicks". In addition, according to the Head of State's instruction, we need to actively implement artificial intelligence. First of all, on the platform of ‘electronic government’. Its application should ensure smooth operation of information systems of state bodies and will help to simplify access of the population to services," Olzhas Bektenov emphasised.
Prime Minister emphasised the importance of smooth operation of e-Government, in this regard it was instructed to take additional measures in terms of improving server equipment and software. In addition, the need for widespread introduction of high-speed Internet for further expansion of online services was noted, which will provide full access to digital services for all citizens, regardless of where they live. It is also necessary to optimise the costs of the state budget, including by transferring the maximum number of state services online. Special attention should be paid to the protection of personal data and digital security.
Due to the lack of centralised monitoring in the process of providing public services, there are increased risks of data leakage, which leads to an increase in cases of Internet fraud. Olzhas Bektenov instructed state bodies to complete the connection of all information systems to the service of controlling access to personal data by the end of this year. At the same time, the Ministry of Digital Development, Innovation and Aerospace Industry together with interested government agencies should work on a permanent basis to increase the responsibility of professionals working with personal data. It was also noted the importance of toughening the punishment for violations in this area.
Following the Government session Prime Minister gave a number of instructions:
- to modernise the portal of e-Government with the launch of elements of artificial intelligence by the end of the year;
- to timely implement projects to provide Internet in remote settlements, as well as to solve the issues of financing the provision of public services in all rural post offices;
- together with interested government agencies, to ensure that the most popular services provided by the Population Service Centres are converted to electronic format by the end of the year;
- to regularly conduct explanatory work with the population on new electronic services, rules of use and receipt, observance of simple security measures for personal data.
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Samruk Kazyna posts 13% revenue growth since 2021
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Year-on-year revenue for Samruk Kazyna joint-stock company was up 13% in 2021/24, Kazinform News Agency reports.
During a meeting with Nurlan Zhakupov, Chairman of the Board of Samruk Kazyna, on Monday, President Kassym-Jomart Tokayev of Kazakhstan was briefed about the company’s performance in 2024 and plans for the upcoming period.
President Tokayev learnt that the year-on-year revenue for Samruk Kazyna joint-stock company was up 13% in 2021/24.
According to Zhakupov, the investment portfolio of Samruk-Kazyna Group of Companies includes 130 projects worth 100 billion US dollars. Seven major investment projects, including the construction of the second set of train tracks on Dostyk-Moynty section, a railway route bypassing Almaty and a container hub at Aktau Port, are slated for completion this year.
The Kazakh President was also informed about the support measures offered to domestic producers in 2024, who secured contracts worth 1.1 trillion tenge. The number of offtake contracts signed was 10fold higher than in 2023.
In conclusion, Tokayev highlighted the importance of enhancing the efficiency and increasing the value of Samruk Kazyna’s assets as well as placing special attention to priority infrastructure projects.
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Another milestone achieved in maturation of KGP Project
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Karachaganak Petroleum Operating B.V. (KPO) and its shareholders are pleased to announce the achievement of another milestone in the maturation of the 4BCMA Karachaganak Gas Plant (KGP). The Consortium led by Hyundai Engineering Co. will commence Early Engineering work.
The KGP project is a strategic initiative that is important to Kazakhstan’s energy self-sufficiency and to the longevity of the KPO’s production operations. It reaffirms KPO shareholders commitment to contribute to the development of Kazakhstan energy sector, economic growth and sustainable benefits for all stakeholders.
KPO and its shareholders remain dedicated to close cooperation with the Republic of Kazakhstan to further explore all parameters essential to assess the KGP project viability.
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President Tokayev meets with CNNC General Director Shen Yanfeng
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President of Kazakhstan Kassym-Jomart Tokayev met on Monday with Shen Yanfeng, the General Director of the China National Nuclear Corporation (CNNC), to discuss cooperation prospects in nuclear energy, Kazinform News Agency reports.
President Tokayev briefed Shen Yanfeng about the plans to promote nuclear energy in the country, highlighting the recent decision on creation of a Nuclear Energy Agency to address systemic implementation of the strategic tasks facing the national economy.
Tokayev noted that Kazakhstan is interested in the considerable experience the China National Nuclear Corporation boasts, pointing to a leading role of CNNC in nuclear energy in China.
In turn, Shen Yanfeng informed the Kazakh leader about the projects CNNC is implementing in China and abroad.
The meeting also focused on cooperation to explore advanced technologies for peaceful use of nuclear energy as well as training of Kazakhstani specialists.
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Kazakhstan’s economic growth picks up in January-February 2025
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The gross domestic product (GDP) in Kazakhstan expanded 5.4% in January-February 2025, the National Economy Ministry said in a report on Wednesday, Kazinform News Agency reports.
The National Economy Ministry said improved dynamics was seen in commodity producing and service sectors and industrial output accelerated to 5.7% thanks to the ongoing work aimed at unlocking the industrial capacity.
The January-February 2025 data indicate an 8.9% growth in manufacturing production, driven by the surge in machine-building (18.2%), food production (13.1%), production of building materials (21.6%), production of metal products (20.1%) and the chemical industry (9%). The country’s mining industry grew at a rate of 4.1%.
According to National Economy Minister Serik Zhumangarin, the construction industry in two months of 2025 was defined by strong growth rates, with the volume of works estimated at 408.1 billion tenge and the index of physical volume made up 112.8%. The total trade grew 6%, while transport and storage services rose 21.3%.
Among the significant contributors are wholesale trade enterprises, supplying grain, seeds and animal feed (5.8fold growth), pharmaceutical products (44.6% growth), cars and light commercial vehicles (38.8% growth). Grain shipments rose 43% to reach 2.4 million tons, while transportation of grain mill products increased by 12%, he said.
Zhumangarin went on to add that the export of high value-added products, especially compound feed, rose 5fold to 273,000 tons (56,000 tons in 2024), and that of vegetable oil grew 28% to up to 94,000 tons.
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