Kazakhstan’s Economy is Rapidly Shifting Gears: Tech Investments Explode While Old Guard Sectors Cool Down

Kazakhstan is clearly making a major strategic pivot in its economy. In the first three months of 2025, the country attracted a very healthy $6.6 billion in foreign investment, showing a solid 6.2% growth over last year.

What’s fascinating is where this money is going. The investment focus has dramatically shifted toward the digital future:

The Digital Surge: Investment in Information and Communication Technology (ICT) didn’t just grow—it exploded, increasing by a whopping 9.5 times! Financial services also saw a major boost, growing 2.5 times its previous level. Manufacturing remains a strong pillar, up 27.6%.
The Slowdown: On the flip side, traditional sectors are seeing less enthusiasm from foreign investors. Mining investment is down by nearly half (-44.1%), and the construction sector took a major hit, falling by 76.5%.
Global partners are rebalancing their support. While the Netherlands remains the historical heavyweight investor, the biggest movers in terms of increased commitment are the UAE and China. Qatar also made a massive entrance with a surge of $1.1 billion. Interestingly, investment from Russia declined significantly by 47.4%, and the US also saw its contribution shrink this quarter.