By Botagoz Marabai
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FDI in Kazakhstan is slowing, but multibillion-euro deals are still landing. Officials call the shift cyclical, not a sign of waning investor confidence.
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Kazakhstan is attracting foreign direct investment despite a slowdown in global and domestic flows.
In 2024, FDI dropped nearly 30% to 14.5 billion euros, according to the UN Conference on Trade. Authorities say the decline reflects a cyclical shift from investment to returns, not waning confidence.
Kazakhstan secured four of Central Asia’s five largest greenfield projects, totalling 6 billion euros. Its sovereign wealth fund, Samruk-Kazyna, plays a central role, executing over 130 projects worth 87 billion euros.
Since independence in 1991, Kazakhstan has drawn nearly 130 billion euros in FDI, making it the region’s leading investment hub.
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