• Wed. May 29th, 2024

Kazakhstan’s Economic Growth Drives Four Major Infrastructure Projects For 2024

BySamantha Nguyen

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

During a recent press conference in Astana, Erlan Karin, the State Counsellor of Kazakhstan, unveiled that the President of Kazakhstan has launched four major infrastructure projects for 2024. These initiatives aim to stimulate the economy and promote growth in the country. The first project focuses on improving the road network by constructing and repairing over 12,000 kilometers of roads. Additionally, utility networks such as heat sources and networks spanning at least 6,500 kilometers will be modernized to ensure access to utilities for more than 300,000 citizens.

Another significant initiative is the introduction of a new housing program aimed at increasing the volume of rental housing. As part of this program, at least 1,700 kilometers of gas networks will undergo modernization to provide access to gas for over 300,000 citizens. Erlan Karin emphasized that the ultimate goal is to double Kazakhstan’s GDP to $450 billion by 2029. To achieve this ambitious target, the President has introduced new measures to diversify the economy. One such measure includes offering incentives for investors to focus on the manufacturing sector. Investors will be granted a three-year tax holiday and other stimulus measures to encourage business growth and access to bank loans. These initiatives are part of a comprehensive strategy aimed at driving economic development and creating a more sustainable future for Kazakhstan.

By Samantha Nguyen

As a content writer at newsqwe.com, I am passionate about crafting engaging and informative articles that captivate our audience. With a background in journalism and a keen eye for detail, I strive to deliver content that is not only well-researched but also adds value to our readers' lives. From breaking news stories to in-depth features, I take pride in my ability to tell compelling stories that resonate with our diverse audience. When I'm not typing away at my keyboard, you can find me exploring new cafes, practicing yoga, or getting lost in a good book. I am thrilled to be a part of the newsqwe.com team and look forward to sharing my love for writing with all of our readers.

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