President Kassym-Jomart Tokayev recently announced that Kazakhstan has successfully attracted $400bn in foreign direct investment (FDI), with plans to bring in an additional $150bn by 2029. This new investment cycle will be spearheaded by the Investment Council, aiming to enhance the country's economic landscape.
During his address at the Astana International Forum, President Tokayev highlighted the significant political reforms underway, which aim to bolster stability and cater to the democratic aspirations of the populace. He cited the recent referendum on the construction of a nuclear power plant as evidence of Kazakhstan's commitment to democratic values.
“We are well aware of the importance of providing investors with comprehensive government support and prompt decision-making,” Tokayev emphasized, stressing the government's proactive approach to fostering a conducive environment for foreign investment.
In addition to attracting foreign capital, Tokayev reaffirmed Kazakhstan's commitment to regional cooperation, particularly within Central Asia. He noted the beneficial impacts of increased collaboration among neighboring countries and highlighted the significant transformations in the region over the past decade.
The president asserted the growing importance of Central Asia on the global stage, advocating for the voices of middle powers like Kazakhstan to be amplified in international forums, including the UN Security Council.
"While major powers are consumed by rivalry, it is the middle powers that often become mediators in resolving disputes," Tokayev stated.
Yasin Anwar, head of the regional office of the Green Investment Principles in Central Asia, echoed the need for developing domestic capital markets to enhance competitiveness and attract sustainable investment. He suggested reforms to macroprudential regulations to enable banks to support green projects, pointing to Mongolia’s success with green bonds as a potential model.
Addressing the challenges of contemporary global issues, including climate change and economic instability, Tokayev called for collective responses. He stressed that the political reforms being implemented are crucial not only for internal stability but also for driving economic growth and attracting foreign investment.
Kazakhstan’s proactive foreign policy, centered around multilateralism and regional stability, has positioned it as an influential player in international relations. Tokayev highlighted the country’s diplomatic efforts, including facilitating the nuclear deal with Iran and hosting negotiations between Armenia and Azerbaijan.
In his concluding remarks, Tokayev reiterated Kazakhstan's commitment to peace and stability, emphasizing the need for an inclusive and sustainable international system where all nations, regardless of size, can contribute to building a better world.
“Kazakhstan is ready to play an active role on the world stage. We strive to be the architects of a more balanced, fair, and sustainable global system,” he asserted.
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