Kazakhstan’s most influential business figures have come together to form the Kazakhstan Investors Union (KIU), a new organization dedicated to promoting economic development and enhancing the investment climate.
The companies of prominent tycoons Timur Kulibayev, Vladimir Kim and Oleg Novachuk were among the latest to join the recently established group.
Journalist Oleg Chervinsky highlighted the development on his Telegram channel focused on Kazakhstan’s oil and gas sector.
The following companies were admitted to the union during an absentee meeting:
- KAZ Minerals Management, founded by KAZ Minerals Holding Limited, ultimately owned by Vladimir Kim and Oleg Novachuk.
- Kipros, founded by Timur Kulibayev.
- Halyk Bank, founded by Almex Holding Group, controlled by the Kulibayev family.
- Petroretail, operator of the Qazaq Oil gas station network, founded by Joint Technologies (also owned by the Kulibayev family).
- Caspian Oil, founded by Joint Resources.
- PTC Holding, also founded by Joint Technologies.
The KIU has recently launched a presence on social media platforms. The idea for the union reportedly emerged after a Feb. 7 meeting between President Kassym-Jomart Tokayev and top business leaders, during which he emphasized the private sector’s role in advancing major economic initiatives and breakthrough projects.
In response, several major businesses decided to unify under a common structure.
The union will focus on strategic economic issues, investment policy and reform advocacy. It is not intended to replace or compete with the Atameken National Chamber of Entrepreneurs, which is currently transforming to focus more on supporting micro and small enterprises.
The founding organizations of the KIU include the Kazenergy Association, the Kazakhstan Electrical Power Association and the Association of Developers of Kazakhstan. By the end of 2025, the union aims to include 100 medium and large companies, with plans to add another 500 in subsequent years. The KIU will be funded through voluntary membership dues.
Rustam Zhursunov, former ombudsman for the protection of entrepreneurs’ rights in Kazakhstan, has been appointed chairman of the union.
