Kazakhstan, Central Asia’s largest country, plans to allocate about $13.7 billion from its National Fund to upgrade infrastructure, Kazakh Foreign Minister Mukhtar Tileuberdi said Monday.
According to the diplomat, the country aims to reach the target by the end of 2029, a timeframe during which Astana also expects to attract additional foreign investment to carry out large-scale projects.
“Amid unprecedented global turbulence and geoeconomic fragmentation, Kazakhstan remains firmly committed to a balanced and pragmatic foreign policy,” Tileuberdi said at a meeting with foreign diplomats.
He emphasized that Astana intends to leverage its diplomatic relations more actively to attract capital, form joint ventures, and transfer technology.
“Our goal is true partnership: establishing joint ventures, full localization of production, the transfer of advanced technologies, and investment in human capital,” he said.
Regarding priority sectors for cooperation with international partners, the minister highlighted energy, agriculture, digitalization, and water security.
In the energy sector, the nation aims to achieve a sustainable electricity surplus by 2029 by building new power plants, modernizing existing facilities, developing renewable energy sources, and rolling out electricity storage systems, Kazakh authorities have said.
In the digital sphere, Astana is prioritizing alliances to develop artificial intelligence, build data centers, digitalize transportation, and implement emerging financial technologies.
The Kazakh minister underscored that the country is also paying close attention to water diplomacy, building on President Kassym-Jomart Tokayev’s initiative to establish an International Water Organization under the auspices of the United Nations. EFE