Kazakhstan’s Infrastructure Boost: A Roadmap to Economic Growth and Diversification

Kazakhstan aims to double GDP to $450 billion by 2029, says State Counsellor Erlan Karin

Kazakhstan’s President has announced four large infrastructure projects for 2024 that aim to boost the country’s economy and drive growth. The first project focuses on the development of the road network, with plans to build and repair over 12,000 kilometers of roads. This project also includes the modernization of utility networks, such as heat sources and utility networks spanning at least 6,500 kilometers.

Another key initiative is the launch of a new housing program to increase the volume of rental housing. As part of this program, at least 1,700 kilometers of gas networks will undergo modernization to ensure access to gas for more than 300,000 citizens. Erlan Karin emphasized that the ultimate goal is to double the country’s GDP to $450 billion by 2029.

To achieve this ambitious goal, the President has introduced new measures to diversify the economy. One such measure includes offering incentives for investors to focus on the manufacturing sector. Investors will be granted a three-year tax holiday and other stimulus measures to encourage business growth and access to bank loans. These initiatives are part of a comprehensive strategy to drive economic development and create a more sustainable future for Kazakhstan.

Sophia Reynolds

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