Kazakhstan Weekly: Kazakhstan Unveils Investment Push, Advances EU Ties, Moves on Constitutional Reform

November 27, 2025 to December 3, 2025

This week's top 10 stories from Kazakhstan, selected from our daily intelligence briefs.

1. Baiterek Rebranded as National Investment Holding, Sets Trillion-Tenge Push for Non‑Resource Growth

Kazakhstan has restructured its state development conglomerate into Baiterek National Investment Holding and broadened its mandate to accelerate investment in non‑resource sectors, infrastructure and export‑oriented industry. The board approved a 2026 work plan that adds infrastructure, industrial project support and digitalization/AI tools for SMEs, upgrades corporate governance and risk/anti‑corruption reporting, and ties leadership KPIs to foreign capital attraction. The holding intends to deploy about KZT 8 trillion in 2025, rising to KZT 10 trillion in 2026–2027, supported by KZT 1 trillion a year in state capitalization and additional market borrowing (including a recent CNY 430 million loan for agribusiness on‑lending).

Policy instruments include two new guarantee funds—one covering up to 85% of SME loans to address collateral shortages (notably in rural areas) and another offering up to 30% guarantees for large projects with tenors to 15 years—and a joint 2026–2028 programme with the National Bank and financial regulator to boost real‑sector lending. Officials frame the move as a tool to spur import substitution, non‑commodity exports and higher‑productivity jobs, but caution remains about long project cycles, gaps in technology due diligence and exposure to banking‑sector trends.

Local Coverage: aikyn.kz, malim.kz, inform.kz, egemen.kz, dknews.kz, zakon.kz

From daily briefs: 2025-11-27, 2025-12-03

2. EU, Kazakhstan Advance Middle Corridor and Infrastructure Investments in Brussels Talks

Kazakh Foreign Minister Yermek Kosherbayev and EU Commissioner for International Partnerships Jozef Síkela met in Brussels to advance economic and regional cooperation, building on outcomes from recent high‑level forums in Samarkand and Tashkent. Discussions prioritized development of the Trans‑Caspian International Transport Route (the “Middle Corridor”) — including digitalization of procedures, multimodal logistics upgrades, and concrete investments such as €45 million to modernize Aktau port and €150 million for Kazakh road reconstruction — positioning Kazakhstan as a key node in a more resilient Eurasian transport network. The sides agreed to regular monitoring of project execution, exploration of co‑financing (including possible EIB engagement), and stepped‑up cooperation across critical materials, energy, trade and transport under the EU’s Global Gateway; these moves coincide with the 10th anniversary of the EU–Kazakhstan Enhanced Partnership and Cooperation Agreement and reflect strategic aims to diversify supply chains (Kazakhstan supplies ~13% of EU oil imports and ~16% of uranium, and can provide 21 of 34 EU‑designated critical elements). Trade with the EU approached $50 billion in 2024, with over 4,000 European firms operating in Kazakhstan, underscoring the economic and geopolitical implications of deeper connectivity and visa‑facilitation talks for broader people‑to‑people and commercial links.

Local Coverage: inform.kz, dknews.kz

From daily briefs: 2025-11-27, 2025-11-28, 2025-11-30, 2025-12-02

3. President Proposes Unicameral Parliament Without Presidential Quota, Signals Broad Constitutional Changes

Kazakh President Kassym-Jomart Tokayev announced plans to overhaul the country’s political architecture by proposing a unicameral parliament with no presidential appointment quota and a streamlined, professionalized legislature. Tokayev said all deputies would be elected under the same rules, committee structures could be reorganized to prioritize digitalization and regional development, and a working group will refine proposals before likely submitting extensive constitutional amendments to a referendum. He framed the reforms as steps to strengthen executive accountability and legislative effectiveness while preserving stability and the rule of law.

Separately, Tokayev unveiled an ambitious technology initiative to create a unified artificial intelligence platform — integrating research labs, data centers, digital models and a supercomputer network — to accelerate modernization across priority sectors including semiconductors, robotics, nuclear energy and biomedicine. He set a tight timeline, saying the program must advance “in less than a year,” stressing rapid technological renewal to avoid falling behind other economies rather than pursuing global leadership.

Local Coverage: aikyn.kz, informburo.kz, inform.kz, zakon.kz, egemen.kz, malim.kz

From daily brief: 2025-11-29

4. EU and Kazakhstan Open Formal Talks on Visa Facilitation and Readmission Agreements

Kazakhstan and the European Union opened the first formal round of negotiations in Brussels on visa facilitation and a readmission agreement, the EU’s inaugural process of this kind with a Central Asian state. Co-chaired by Kazakhstan’s Deputy Foreign Minister Älibek Bakaev and Johannes Luchner, Deputy Director‑General at the European Commission’s Directorate‑General for Migration and Home Affairs, the talks — held as the Enhanced Partnership and Cooperation Agreement marks its 10th anniversary — established initial parameters and workstreams for a modern legal framework to ease travel and strengthen people‑to‑people links.

Officials said the negotiations signal deepening trust and a strategic push to streamline short‑term travel for Kazakh nationals while reinforcing broader EU–Central Asia cooperation; both sides agreed to continue talks and plan the next round in Astana in 2026. For international stakeholders, the process introduces a potentially faster route to mobility and readmission mechanisms that could affect migration management, consular processes and bilateral economic or educational exchanges.

Local Coverage: inform.kz, zakon.kz, dknews.kz

From daily brief: 2025-12-04

5. Government Overhauls Bank Rescue and Tax Rules, Introducing Post‑Facto Levies and Tiered Rates

The government announced sweeping banking reforms that end routine state bailouts and introduce a differentiated corporate tax regime effective 2026: banks focused on business lending will pay a 20% profit tax, while full-service banks face a 25% rate, with clarified rules on allowable expense deductions. The Financial Regulation and Development Agency (ARDFM) will replace standing bailout funds with a case‑by‑case intervention framework limited to systemically important banks, prioritizing equity writedowns, removal of management and owners, and cancellation of creditor claims before any temporary, repayable budget support.

To avoid costly pre‑funding, the Treasury will levy post‑facto contributions on surviving banks proportional to size if asset sales to new investors do not fully cover state support. ARDFM justified the move by pointing to the sector’s high profitability and concentration; analysts caution the measures — higher effective tax burdens and tighter credit conditions — could push lending rates up and exacerbate credit risks.

Local Coverage: aikyn.kz

From daily brief: 2025-11-30

6. Central Bank Signals Up to $300 Million Allocation to Cryptoassets from Sovereign and FX Reserves

Kazakhstan’s National Bank is exploring a controlled allocation of up to about $300 million from the National Fund and FX reserves into cryptoassets, Deputy Chairman Berik Sholpankulov told a Senate briefing on 27 November 2025. The proposal is being framed as a limited diversification measure within a risk-managed reserve mandate; any deployment would be gradual and contingent on regulatory safeguards, custody arrangements and explicit risk limits.

If implemented, the move would represent one of the first formal sovereign exposures to digital assets in Central Asia and will prompt scrutiny of asset types (spot holdings versus regulated instruments), legal authority and timing. Market participants and reserve managers will watch for further detail on instruments, governance and the precise share of reserves involved before assessing potential implications for liquidity, valuation volatility and sovereign portfolio policy.

Local Coverage: inform.kz, zakon.kz

From daily brief: 2025-11-28

7. Government Advances Five Cross-Border Trade Hubs, Sets Deadlines for SEZs and Aktau Container Hub; Waste-Management Plan Approved

Kazakhstan announced tangible progress under its 2030 transport‑logistics strategy, advancing five cross‑border trade hubs with managing companies appointed, investment project pipelines created, and core utilities (power, water, roads, communications) being secured. Prime Minister Olzhas Bektenov directed ministries to accelerate hub development and link full‑service logistics centers to manufacturing to boost non‑raw‑material exports by 30% and speed border trade; the Industry Ministry must deliver concepts for special economic zones for an Industrial Trade‑Logistics Complex and an Eurasia Cross‑Border Trade Center by December 20, while the Transport Ministry will develop the Aktau port container hub and report by end‑Q1 next year.

Separately, the cabinet approved a 2026–2030 national waste‑management concept that prioritizes energy‑from‑waste plants in Astana, Almaty and Shymkent and earmarks 185 billion tenge in concessional financing to scale recycling and disposal infrastructure. Together these moves signal a coordinated push to position Kazakhstan as Central Asia’s primary transport and logistics hub, integrating trade facilitation, industrial policy and waste‑to‑energy investments to support export diversification and infrastructure resilience.

Local Coverage: egemen.kz

From daily brief: 2025-11-27

8. Banks Repay Over KZT700 Billion to State as National Fund Posts Investment Gains; Central Bank Rebuts Bonus Claims

Kazakhstan’s National Bank said second-tier banks have reimbursed over KZT700 billion of prior state support, reflecting continued balance-sheet repair following earlier crises. Governor Timur Suleimenov also reported positive investment income for the National Fund over the first ten months of the year, indicating improved returns on sovereign assets amid tighter monetary conditions and easing fiscal and financial-sector pressures.

Suleimenov rebutted media claims that top National Bank managers received KZT1.7 billion in bonuses, clarifying that the figure represents total remuneration — salaries, mandatory payments, health recovery, training and vacation pay — rather than discretionary bonuses. The disclosures aim to reassure markets and the public about institutional stability and transparency as Kazakhstan navigates post-crisis recovery.

Local Coverage: inform.kz, inform.kz, inform.kz, egemen.kz

From daily brief: 2025-11-29

9. EU Council President António Costa to Visit Astana for Talks on Expanding Bilateral Cooperation

European Council President António Costa will visit Astana on 4 December for an official meeting with Kazakh President Kassym‑Jomart Tokayev to mark the 10th anniversary of the EU–Kazakhstan Enhanced Partnership and Cooperation Agreement (EPCA). While detailed agendas were not released, the talks are expected to focus on trade, connectivity, the energy transition and critical raw materials—areas identified as central to bilateral cooperation under the EPCA.

The visit signals continued high‑level engagement between Brussels and Astana as both sides seek to deepen economic links and coordinate on regional stability. For international stakeholders, the meeting could presage closer EU–Kazakhstan cooperation on strategic supply chains and energy policy, though no new policy announcements have been reported.

Local Coverage: aikyn.kz, egemen.kz, inform.kz, zakon.kz

From daily brief: 2025-12-04

10. Chinese Partner Tapped for $300M Aktau Seaport Project to Boost Trans-Caspian Corridor

Mangystau region officials say China’s Zhongyun International will invest about $300 million to develop a new seaport in Aktau, with the company having registered a local entity and preparing documents to sign an investment agreement, regional governor Nurdaulet Kilybai told a government meeting (Aikyn.kz). The project is positioned to strengthen a “China–Kazakhstan–Aktau–Baku–Poti–Europe” Trans-Caspian corridor, and authorities estimate it could cut delivery times by 7–15 days and lower logistics costs by 18–25%.

If implemented, the Aktau port would expand capacity along a route that has gained traction as shippers seek alternatives through the South Caucasus and Black Sea, while creating new jobs in Mangystau. The deal underscores growing Chinese participation in Central Asian transport infrastructure and could materially shift regional freight patterns if the investment agreement is finalized and construction proceeds on schedule.

Local Coverage: aikyn.kz

From daily brief: 2025-11-27

About This Weekly Digest

The stories above represent the most significant developments from Kazakhstan this week, selected through our AI-powered analysis of hundreds of local news articles.

Stories are drawn from our daily intelligence briefs, which synthesize reporting from Kazakhstan's leading news sources to provide comprehensive situational awareness for international decision-makers.