Astana, the capital city of Kazakhstan, has witnessed a significant inflow of foreign direct investment (FDI) over the past 25 years, reaching a total of $14bn. The announcement was made by Zhenis Kassymbek, the Akim (Mayor) of Astana, during the Twin Cities Forum held on July 5.
Kassymbek revealed that Astana's gross output has experienced substantial growth, reaching $22bn. The city's industrial sector has also flourished, with a value of $4.3bn. Additionally, the gross domestic product (GDP) of Astana has surged to $25bn over the course of a quarter-century.
Over this period, Astana has witnessed remarkable development in various sectors. The city has constructed an impressive 33mn square meters of housing, establishing a foundation for a thriving residential community. The educational infrastructure has also been a priority, with the construction of 670 kindergartens and schools. Moreover, more than 100 cultural and sports facilities have been built, enhancing the city's appeal to both residents and visitors.
Astana's success as a regional trade hub has contributed to its attractiveness as an investment destination. The city's creative economy has served as a magnet for bright minds, youth, tourists, investors, and multinational corporations seeking opportunities. The favorable investment climate, coupled with the city's strategic location and infrastructure, has positioned Astana as a global player in trade and commerce.
During the Twin Cities Forum, Zhenis Kassymbek took the opportunity to strengthen Astana's international ties. He signed a memorandum to establish sister city relations with Asmaa Rhlalou, the Mayor of Rabat (Morocco), and Bambang Susantono, the Chair of the Nusantara National Capital Authority (Indonesia). This move signifies Astana's commitment to fostering partnerships and expanding its global network.
The forum, held in celebration of Astana's 25th anniversary, convened leaders from 17 cities representing 13 countries. In attendance were Kazakh officials, honorary citizens of Astana, veterans of labor, cultural and sports figures, scientists, teachers, and civil servants. The participants engaged in eight-panel sessions focusing on urban development and the crucial role cities play as centers of growth and innovation across various industries.
As Astana continues to make strides in economic development, urban planning, and international collaboration, the city solidifies its position as a prominent global player and a testament to Kazakhstan's commitment to progress and prosperity.
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