Kazakhstan’s State Counsellor Unveils Ambitious $450 Billion GDP Goal: Four Major Infrastructure Projects for 2024

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

During a briefing in Astana, Kazakhstan’s State Counsellor Erlan Karin announced that the country’s President has set a goal to double its GDP to $450 billion by 2029. To achieve this ambitious target, four major infrastructure projects have been initiated for 2024.

The first project focuses on improving the road network, with plans to build and repair over 12,000 kilometers of roads. This project 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 highlighted the importance of diversifying the economy in order to achieve this goal. In response to this, new initiatives have been launched to encourage investors to focus on the manufacturing sector. These initiatives include a three-year tax holiday being offered along with other measures aimed at stimulating business growth and providing access to bank loans. The aim is to bolster economic growth and lay the groundwork for achieving the ambitious GDP target set by the President of Kazakhstan.

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