In his 2023 State-of-the-Nation Address, President Tokayev highlighted the importance of creating a new economic development model to ensure steady, high-quality, and inclusive growth.
The 2029 National Development Plan sets forth Kazakhstan’s development priorities for the coming years and is guided by five key principles for economic transformation:
- Liberalization and Competition: The plan emphasizes liberalization and the encouragement of competition to boost global competitiveness and improve the quality of goods and services.
- Entrepreneurship and Investment: It focuses on protecting entrepreneurship and establishing a clear, predictable, and attractive economic policy for investors to secure sufficient investments for economic growth.
- Unlocking Human Potential: The plan prioritizes unlocking the potential of Kazakhstan’s citizens through quality education, entrepreneurship support, and fostering creative initiatives.
- Productivity and Innovation: There is a strong emphasis on improving productivity and economic complexity by expanding innovation, modernizing, and digitalizing industries and enterprises.
- Regional Development: The plan aims to prevent significant disparities in regional development by creating conditions that unlock regional potential and promote greater economic independence.
The 2029 National Plan includes 17 development trends organized into four main blocks, addressing various aspects of Kazakhstan’s growth strategy.
The presidential decree enacting the plan will come into effect immediately upon signing.
