More than 200 projects and $86 billion in investments: Baibazarov reveals details of national infrastructural plan

The government of Kazakhstan plans to implement over 200 projects worth $86 billion within its National Infrastructural Plan by 2029. In an interview with Premierminister.kz, Minister of National Economy Nurlan Baibazarov shared details of the plan.

«Over the period from this year through 2029, more than 200 projects are expected to be implemented under the plan. The total amount of investment is more than $86 billion. This is quite a big figure and we understand that we have to do a lot to raise these funds,» Baibazarov said.

According to the national economy minister, the government will focus on attracting private and foreign direct investments. Although the ministry stated that $86 billion will be allocated to four different areas, it has not provided specific details.

Baibazarov also revealed that the government is ready to invest $20.6 billion into the national economy but did not provide a timeline for the move. He mentioned that the majority of these investments are expected to come from national holdings, internal and external capital markets, as well as private and international investments, excluding any allocations from the state budget.

The draft of the National Infrastructural Plan was published for public consideration in August 2023. Its initial version identified three main areas for investment: utilities, transportation and industry, with total investments amounting to $36.6 billion. About 65% of these funds were supposed to come from the state budget. Commenting on this, the Ministry of Economy stated that the plan was developed by the former Ministry of Industry and Infrastructural Development (which no longer exists) and described the figures in the plan as outdated.