Kazakhstan targets $150bn by 2029 as Central Asia’s investment hub deepens Gulf ties

Kazakhstan has set a target of attracting $150 billion in investment by 2029, leveraging its economic strengths and strategic location. As the largest economy in Central Asia, the country accounts for around 60% of foreign direct investment into the region. “In Central Asia and Eurasia, Kazakhstan stands at the centre of investment attractiveness,” says Kazakh Invest Chairman Sultangali Kinzhakulov. “Investors now seek more stable markets, those offering higher revenues but also higher risks.”

Kazakh Invest plays a central role in growing inflows, acting as a one-stop agency for investment projects, managed through its National Digital Investment Platform, which offers real-time tracking. The agency is also prioritising the development of Kazakhstan’s 16 special economic zones, including pilot projects at key locations.

This investment drive is supported by institutions such as Paryz, whose members represent around 60% of the economy. The organisation works to improve the business environment for investors, acting as a bridge between private enterprise, government and international partners. Dialogue is central to its role, both in representing industry and connecting investors with local opportunities.

Against that backdrop, Gulf ties are key. UAE firms have invested more than $5 billion in Kazakhstan, with 20 bilateral agreements signed across multiple sectors. Renewable energy is one area of alignment, with Masdar developing a 1 GW wind farm in Kazakhstan. Agriculture is another; Kazakhstan has around 220 million hectares of agricultural land, offering strong potential for cooperation with Gulf partners focused on food security. Halal Kazakh lamb is already exported to UAE markets, with Kazakh Invest driving further expansion in the sector.

That reflects the agency’s outward-facing role in helping companies targeting international expansion. Kazakh Invest plans to open a Dubai office in 2026, designed to support investor engagement – a significant move for firms with export potential such as LOTTE Rakhat. The confectionery brand sees its halal-certified portfolio as a natural fit for Gulf markets. “Halal is a very strategic direction in terms of expanding exports,” says Chairman Akhmed Akhrarov.

Kazakhstan’s outbound push is also supported by a more internationally connected financial sector. ForteBank, one of the country’s leading lenders to large corporates and SMEs, has been active in the Gulf through investor roadshows in Dubai, Abu Dhabi and Doha. Its engagement with regional institutions reflects a banking system increasingly able to connect Kazakh projects with international capital.

QUOTE (64/72 CHARS): “Kazakhstan stands at the centre of investment attractiveness.” -- Kazakh Invest Chairman Sultangali Kinzhakulov - SULTANGALI KINZHAKULOV, CHAIRMAN, KAZAKH INVEST