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

Building for Growth: Kazakhstan’s Ambitious Infrastructure Projects Drive GDP Goal

Kazakhstan is on track to achieve its ambitious goal of doubling its GDP to $450 billion by 2029, thanks in part to four large infrastructure projects initiated in 2024. These projects are focused on improving the country’s road network, modernizing utility networks, and increasing the volume of rental housing.

The first project involves building and repairing over 12,000 kilometers of roads and modernizing utility networks, including 55 heat sources and at least 6,500 kilometers of utility networks. Additionally, a new housing program will be launched to increase the volume of rental housing and modernize at least 1,700 kilometers of gas networks.

Erlan Karin, State Counsellor of Kazakhstan, emphasized the importance of diversifying the economy to achieve this goal. To do so, new initiatives have been launched to incentivize investors to focus on the manufacturing sector. A three-year tax holiday is being offered along with other measures to stimulate business growth and provide access to bank loans.

These initiatives aim to bolster economic growth and pave the way for achieving the ambitious GDP target set by the President of Kazakhstan.

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