News

Starting Jan. 1, 2026, Kazakhstan will change the funding structure for several major institutions, including Nazarbayev University (NU), the Astana International Financial Centre (AIFC) and the Social Health Insurance Fund (SHIF).

The new regulations were adopted following inspections by the Supreme Audit Chamber (SAC) into these entities. NU’s operations were audited in the second half of 2024.

Previously, these organizations received government funding through earmarked contributions and transfers. According to auditors, this approach reduced transparency and prevented the state’s assets from being accurately reflected in consolidated financial statements.

Additionally, the funding method did not contribute to an increase in the...

President Kassym-Jomart Tokayev has signed a law ratifying the intergovernmental agreement between Kazakhstan and the United Arab Emirates (UAE) on the construction of a one-gigawatt wind farm. Earlier this year, the administration of the Zhambyl region announced that Masdar, a state-owned renewable energy company in the UAE, was set to implement this project in the region.

«The head of state has signed a law of the Republic of Kazakhstan ratifying the agreement between the governments of the Republic of Kazakhstan and the United Arab Emirates to implement the wind farm project,» the president’s press service reported.

Kazakhstan’s membership in the Eurasian Economic Union (EEU) has been positively impacting the modernization of its national economy, according to the country’s Ministry of Trade and Integration. The agency outlined the benefits Kazakhstan gains from its participation in the union.

Currently, the EEU member states include Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. Customs declarations have been abolished between all these countries, enabling the unimpeded movement of goods and reducing business time and costs. The Ministry of Trade and Integration noted that this interaction, in turn, provides Kazakhstan’s population with access to a wider range of higher-quality goods.

Within the EEU...

The East Kazakhstan region is set to build a new cross-border road for tourists from China. The road will span from Kanas Lake in China to Lake Markakol in the Katon-Karagay district of Kazakhstan, as reported by the Ministry of Tourism and Sports of Kazakhstan, citing the administration of the East Kazakhstan region.

Interested state agencies are already discussing the project. For example, the Kazakh Foreign Ministry and the Ministry of Finance have begun negotiations with their Chinese counterparts to promote the opening of an international border crossing near Markakol village.

«When all necessary arrangements are...

Starting Jan. 1, 2026, several categories of Kazakhstanis with unresolved tax debts may face restrictions on their ability to travel. A measure introduced in the new tax code allows tax authorities to prevent individuals who owe money to the state from leaving the country, as reported by Kazakhstani attorney Zhangeldy Suleymanov on Facebook.

The new regulation will affect company managers, individual entrepreneurs, attorneys, notaries and other entities engaged in private practice. Restrictions will apply if a debt exceeds 20 monthly calculation indexes (approximately $155) and remains unpaid for more than three months. Authorities will be able to prevent taxpayers from...

Kazakhstan’s GDP grew by 6% from January to April, according to preliminary data revealed by the Ministry of National Economy, marking an acceleration from the first three months, when the figure stood at 5.8%.

«Preliminary results of the country’s social and economic development over the period from January to April 2025, based on the projection data from the Bureau of National Statistics, show a 6% growth of the GDP. The accelerated pace of development is evident in key economic sectors, such as transport (22.4%), trade (7%), agriculture (3.9%) and telecommunications (2.6%),» the agency said in a...

KMG International, a subsidiary of Kazakhstan’s national oil and gas company KazMunayGas (KMG), has resumed operations at a petrochemical unit within the Petromidia refinery in Romania, the company announced.

Amid rising demand for petrochemical products in the European market, KMG has launched a low-density polyethylene (LDPE) production plant. The company plans to reintegrate the LDPE facility with the petrochemical complex at the Petromidia refinery, aiming to solidify its position as Romania’s sole national polymer producer. This move is expected to bolster KMG International’s production and financial performance while reestablishing its dominance in the regional polymer market.

The LDPE plant has...

Germany, riding on its strong performance, entered the May 11 match of the second round of the 2025 Ice Hockey World Championship as the clear favorite against Kazakhstan, which was viewed as a dark horse. Ultimately, the team that was favored to win delivered, securing a 4-1 victory. The three-goal difference fairly reflected Germany’s dominance throughout the game.

Kazakhstan struck first, catching a stroke of luck early in the match. German captain and Detroit Red Wings defenseman Moritz Seider scored an own goal while attempting to intercept a pass from Nikita Mikhailis in the fourth minute. Mikhailis was credited with...

The end of the oil age is already looming for Kazakhstan, which means that the country must speed up its transformation process. According to Almas Chukin, a Kazakhstani economist, a serious discussion of national finance and economic policy should begin soon.

He mentioned that the National Fund has already reported a significant drop in tax revenue. If the price of Brent Crude were to decrease to $60 per barrel by the end of the year, the fund would receive less cash inflow than it is due.

«The 2025 to 2027 budget was planned based on a...

Andrey Lavrentyev, owner of Allur Auto — Kazakhstan’s largest automotive company — who acquired ArcelorMittal Temirtau (AMT) from Indian billionaire Lakshmi Mittal in late 2023 (renamed Qarmet), has debuted on the latest Forbes Kazakhstan list of the richest people, ranking 12th with a net worth of $840 million.

The media outlet pointed out that Qarmet stopped publishing audited reports on Dfo.kz, a digital reporting platform, as early as the time when the deal between Lavrentyev and Mittal was being prepared. As a result, the only way to estimate a «more or less appropriate» value of the company’s assets was through...

Investment in fixed assets across enterprises in Kazakhstan continues to grow. Notably, this growth is driven less by oil projects and more by infrastructure developments, including schools and hospitals. Despite this shift, the ratio of investments to GDP has declined, reaching a 10-year low.

Top 100 largest investment projects by sectors

Top 5 investment projects implemented in 2024

How did investment activity change in 2024

Kursiv Research is continuing its analysis of Kazakhstan’s largest new industrial and infrastructure projects. Trends in capital investments and overall investment activity are critical indicators for predicting economic growth, as well as...

Vietnamese Sovico Group, which recently acquired 51% of shares in QazaqAir, may receive one more asset in Kazakhstan – an airport in the Kyzylorda region, according to Kazinform, citing Deputy Foreign Minister of Kazakhstan Alibek Bakayev.

«We are leveraging advanced technologies and companies that could help us improve the work and service in our airports from both technological and administrative points of view. We are already negotiating with the Vietnamese. I mean, we are talking about the Vietnamese side managing an airport to improve its overall operations,» Bakayev said.

He clarified that the airport in...

Vyacheslav Kim has retained the top spot on the list of the richest Kazakhstanis in 2025. Timur Turlov rose from 5th to 2nd place, while Vladimir Kim stepped up from 4th to 3rd. Timur Kulibayev and his wife Dinara dropped from 2nd to 6th, and Bulat Utemuratov was ranked 6th, according to the latest Forbes Kazakhstan ranking.

The combined wealth of the top five increased by $7.2 billion over the year, totaling $27.6 billion. Vyacheslav Kim’s capital grew by $5.8 billion, reaching $7.1 billion. His portfolio includes a 23.4% stake in the fintech company Kaspi.kz, as well as shares in...

According to Chinese Ambassador to Russia Zhang Hanhui, Russian gas delivered to China via Kazakhstan may be too expensive. The official stated that a more viable option would be gas supplies via Mongolia.

«Delivering Russian gas through Kazakhstan doesn’t work because there is just one pipeline, and it already operates at full capacity. If we want to import Russian gas along this route, we’d have to build a new pipeline, which would be a costly project. Russia is evaluating this route (via Kazakhstan), but it’s not feasible. We can’t implement this project. It would be much...

Kazakhstan’s Ministry of Energy has issued a statement in response to recent media reports.

«The ministry considers it necessary to comment on publications made by some media outlets that interpret possible adjustments in the country’s oil production volume as the result of external pressure. The ministry strongly denies such claims,» the agency said in a statement.

The ministry emphasized that Kazakhstan is still committed to the OPEC+ agreement and will continue to fulfill its obligations, contributing to the stability of the global energy market.

The agency also added that «Kazakhstan has no plans to reduce...

In April, the Business Activity Index across Kazakhstan’s service sector rose to 51.4, according to Freedom Holding Corp. By comparison, the index stood at 50.3 in March.

Growth in activity has been recorded in each month since the beginning of the year, with the latest increase being the most significant in nine months. According to surveyed representatives of the sector, the growth was primarily driven by inflow of new orders, with the latest expansion being the fastest in a year and a half.

Respondents attributed the increase to improving underlying demand trends, successful marketing campaigns, new client acquisitions and the...

The Gstaad Guy, a British blogger with 1.2 million subscribers, including movie and music stars, and even Princess Maria-Olympia of Greece and Denmark, visited Almaty, the largest city in Kazakhstan. The videos he posted on his Instagram account immediately went viral. Kursiv LifeStyle decided to check out what the Gstaad Guy experienced in Kazakhstan.

A video titled «Going to Kazakhstan’s Almaty instead of Miami’s Grand Prix,» posted by the blogger, gathered more than 42,000 likes in just 12 hours, becoming one of the most popular videos on his account.

During his trip to Kazakhstan, the Gstaad Guy visited Charyn Canyon...

The volume of securities traded on the International Trading System (ITS) in Astana fell by 27% in April to $955 million month-on-month (MoM), down from the previous month’s record of $1.31 billion, the platform said in a statement. Meanwhile, the Astana International Exchange (AIX) reported a 74% MoM increase to $86 million — still nearly 11 times lower than the ITS figure.

According to ITS, the change in trade volume reflects current sentiment in the global financial markets.

«In the long term, trading volume is expected to grow, supported by a rising number of active investors...

During the night of May 6 to 7, the Eta Aquariids meteor shower — a picturesque act of nature — will be visible in Almaty and several other regions of Kazakhstan. Although the peak activity occurred the previous night, the shower will still remain bright and visually striking, with up to 30 meteors lighting up the sky per hour.

The Eta Aquariids are associated with particles left behind by Halley’s Comet. Each year, as Earth passes through the trail of dust from the comet, these particles enter the atmosphere at high velocity (around 67 kilometers per second) and burn up...

General Secretary of the Communist Party of Vietnam (CPV) Tô Lâm has thanked Kazakhstan for its support of Vietnam’s fight for independence, as reported by Akorda, the official apparatus of Kazakhstan’s president. He also expressed his gratitude to President Kassym-Jomart Tokayev and the people of Kazakhstan for the warm reception in Astana.

«CPV and the people of Vietnam will always be grateful for the support Kazakhstan provided to our country in the past, during its fight for national liberation, and continues to provide now by facilitating the development of our country,» Tô Lâm said.

He...

Turkish TAV Holding will invest $362 million in the Almaty airport it controls over the next five years, Kazakhstan’s Ministry of Transport reported on its website. The number one priority is to raise wages for airport workers and reconstruct the tarmac.

These tasks are part of a memorandum of cooperation signed by the ministry and TAV Holding. The document, for instance, stipulates a 25% average salary increase for airport personnel within the year. Moreover, the company is expected to create an additional 600 jobs by the end of the year and build training and medical centers for the personnel. The...

QazaqAir, previously owned by the Samruk-Kazyna National Welfare Fund and sold to the Vietnamese Sovico Group last year, will now be rebranded as Vietjet Qazaqstan. The agreement was signed during the Kazakhstan-Vietnam business panel held in Astana, as reported by inform.kz. Sovico Group’s portfolio includes the Vietnamese airline Vietjet.

Nurlan Zhakupov, CEO of Samruk-Kazyna, stated during the forum that the QazaqAir sale deal has been completed and financially resolved, with all suspensive conditions fulfilled.

«We highly appreciate the intentions of Sovico Group and VietJet Air to participate in QazaqAir’s management and operations under the new brand...

Kazakhstan is considering introducing a new mandatory payment for oil companies — equal to 1% of hydrocarbon production costs or investments — to finance research and development (R&D), according to the Energy Monitor fund. The proposed annual obligation is projected to generate about $30 million.

«A new tax may be introduced for oil-producing companies in Kazakhstan: 1% of R&D obligations may be redirected directly to the state budget. Apparently, due to a lack of tangible results [on the part of producers], the government has decided to centralize these funds,» Energy Monitor stated.

Nurlan Zhumagulov, head...

The State Revenue Committee (SRC) is going to streamline feedback from those who interact with customs services by putting QR codes in all customs posts and centers for customs clearance. These codes are meant to work as a «red button,» allowing citizens and business representatives to send a complaint directly to the chair of the committee.

Customs officials believe this tool is going to be the fastest feedback channel that could make a difference when businesses face obstacles while going through customs procedures, and for situations when unethical behavior by customs officials must be reported and addressed. Such complaints would...