Prime Minister of the Republic of Kazakhstan Olzhas Bektenov chaired a meeting of the Council on Improving the Investment Climate, focusing on the implementation of agreements reached by the heads of state within the framework of the C5+1 format between the countries of Central Asia and the United States. The meeting was attended by representatives of the diplomatic corps, including the newly appointed U.S. Ambassador to Kazakhstan, Julie M. Stufft, as well as representatives of international companies, the business community, and senior officials of government agencies of Kazakhstan.

Addressing the participants, the Prime Minister emphasized the importance of the constitutional reform underway in Kazakhstan.

“Kazakhstan is currently going through a very important political stage. On March 15, a nationwide referendum will be held on the draft of a new Constitution. This fundamental document clearly reflects the far-reaching political reforms initiated by President Kassym-Jomart Tokayev and aimed at building a Just and Strong Kazakhstan. Our key priority is to raise citizens’ incomes and improve quality of life by ensuring sustainable economic growth. To achieve this objective, we are implementing a comprehensive set of measures aimed at the full-scale launch of a new investment cycle,” Olzhas Bektenov noted.

The importance of the Peace Council meeting held on February 19 in Washington was also highlighted.

“Just yesterday, the Head of State took part in the inaugural meeting of the Peace Council and expressed support for the initiative of U.S. President Donald Trump aimed at stabilizing the situation in the Middle East. Kazakhstan is interested in participating in the processes of Gaza reconstruction. The steady development of relations with the United States remains one of the main tracks of Kazakhstan’s foreign policy,” the Prime Minister emphasized.

“The speech of President Kassym-Jomart Tokayev in Washington on the global stage was truly impressive. We look forward to further expanding our bilateral relationship, which is already at a very high level. Our commercial cooperation reached record levels in 2025. In the fourth quarter alone, the volume of deals between Kazakhstani and American companies amounted to $17 billion. These results reflect our shared vision and the economic growth of both countries, which benefits the people of our nations and strengthens our relationship at the same time,” U.S. Ambassador to Kazakhstan, Julie M. Stufft, said.

During the meeting, particular attention was paid to expanding cooperation with foreign investors, attracting long-term capital, advanced technologies, and global best practices, as well as fostering a transparent and predictable business environment.

Representatives of investor companies noted the positive dynamics of investment cooperation and emphasized the importance of a predictable regulatory environment within the framework of the ongoing tax reform. The discussion focused on infrastructure development, digitalization, localization of production, the introduction of advanced technologies, and the establishment of long-term partnerships aimed at sustainable economic growth.

Chair of the Management Board of Citibank Kazakhstan JSC, Saule Zhakayeva, reported that, following the agreements reached on the sidelines of the C5+1 format, financing has been secured under US EXIM guarantees for the modernization of railway, aviation, and air navigation infrastructure without additional burden on the state budget, which will enhance the country’s technological level and transit potential.

Chief Operating Officer of Eurasia Group Kazakhstan Sergey Glocke spoke about the localization of John Deere equipment production in Kazakhstan with government support, the expansion of service infrastructure, and plans to deepen cooperation in the agro-industrial sector. In particular, it is planned to expand the range of agricultural machinery and vegetable farming equipment produced at a plant in the Turkestan region. To build competencies, Kazakhstani specialists are undergoing training at John Deere facilities in the United States. The Year of Working Professions declared last year by the Head of State has provided an additional boost to the development of professional skills and human capital. Workforce training and upskilling remain priorities for key sectors of the economy, including agriculture.

Vice President for Field Services and Maintenance Management in the CIS and Mongolia at Wabtec Corporation, Gainy Duisenova, informed participants about plans to expand production through the introduction of digital technologies at enterprises. Kazakhstan is the second-largest production partner of the American holding Wabtec in the region. Over the years of cooperation, more than 700 locomotives have been produced in Kazakhstan, with an annual production capacity of 100 units of railway equipment. Within the partnership with Kazakhstan Temir Zholy, further expansion of locomotive and diesel engine production is planned. Given the large-scale efforts underway in Kazakhstan to develop railway infrastructure and eliminate bottlenecks, the modernization of the locomotive fleet and expansion of production capacity will boost the country’s transit potential and throughput capacity.

Chief Executive Officer of Freedom Holding Corp., Timur Turlov, noted that agreements signed within the framework of the C5+1 forum with OpenAI and NVIDIA open fundamentally new opportunities for Kazakhstan in the fields of education and artificial intelligence. According to him, the implementation of these initiatives requires systematic workforce training for the digital economy and can be supported by the development of modern computing infrastructure, including the “Data Center Valley” project in the Pavlodar region.

Partner in the Tax Practice at Deloitte Kazakhstan, Yeldos Syzdykov, positively assessed the changes introduced as part of the tax reform in Kazakhstan. He noted that the temporary waiver of penalties for delayed VAT refunds and improvements in administrative procedures are well-balanced, while the new provisions are aimed at increasing transparency and strengthening the business environment. Overall, the revision of special tax regime parameters is primarily aimed at eliminating imbalances and forming a fair taxation system.

The Ministers of Fiinance and Foreign Affairs also provided comments on the issues raised.

Prime Minister Olzhas Bektenov reaffirmed the Government’s commitment to further strengthening cooperation with international partners and creating a favorable investment climate. Within the development of global technological value chains, the Government is focused on attracting international technology companies and building infrastructure for breakthrough digital projects. Relevant government agencies have been instructed, jointly with the American Chamber of Commerce, to take into account the initiatives and recommendations voiced by the business community in their upcoming work.

#Olzhas Bektenov #International Cooperation #Investments

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