• Sun. Jun 23rd, 2024

Kazakhstan’s Path to Economic Growth: The Ambitious GDP Target and New Infrastructure Projects

BySamantha Johnson

Mar 25, 2024
Kazakhstan’s economy aims to double GDP to $450 billion by 2029, says State Counsellor Erlan Karin.

Astana, Kazakhstan – State Counsellor of Kazakhstan Erlan Karin recently announced that the President of the country has set a goal to double its GDP to $450 billion by 2029. To achieve this ambitious target, four large infrastructure projects have been initiated for 2024.

The first project focuses on developing the road network with plans to build and repair over 12,000 kilometers of roads. This initiative also involves modernizing utility networks, including 55 heat sources and at least 6,500 kilometers of utility networks. Additionally, a new housing program will be launched to increase the volume of rental housing and modernize at least 1,700 kilometers of gas networks.

Erlan Karin emphasized the importance of diversifying the economy to achieve this goal. To incentivize investors to focus on the manufacturing sector, new initiatives have been launched that offer a three-year tax holiday along with other measures to stimulate business growth and provide access to bank loans. These initiatives aim to bolster economic growth and pave the way for achieving the ambitious GDP target set by the President of Kazakhstan.

By Samantha Johnson

As a dedicated content writer at newsanguinely.com, I weave words into compelling stories that captivate and inform our readers. With a passion for storytelling and a keen eye for detail, I craft engaging articles that shed light on the latest news and trends. When I'm not typing away at my keyboard, you can find me exploring new ideas, researching diverse topics, and striving to deliver content that resonates with our audience. Join me on this journey as we uncover the stories that matter most.

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