Nazyken Uzakovna Bagayeva
Associate Professor, Department of Logistics and Business at ALT University; Candidate of Economic Sciences
In today’s Address, President Kassym-Jomart Tokayev paid considerable attention to economic structural reforms. Given Kazakhstan’s strategic positioning as Eurasia’s premier logistics hub, the Head of State directed authorities to proactively attract investment, expand industrial manufacturing, modernize transport infrastructure, accelerate digital technology adoption, and deploy artificial intelligence tools to identify operational budget inefficiencies. Furthermore, he highlighted an initiative supported by the leadership of NVIDIA to integrate AI into agriculture. The President also proposed updating banking legislation to redirect greater financial capital toward the real sector of the economy.
Importantly, the President set a target to fully transform Kazakhstan into a digital nation within three years, advocating for the establishment of a dedicated Ministry of Artificial Intelligence and Digital Development.
The initiative for large-scale infrastructure modernization is particularly noteworthy. Between now and 2029, 6.5 trillion tenge will be allocated from the National Fund to modernize regional and urban infrastructure across Kazakhstan. This stimulus policy is poised to deliver a powerful multiplier effect: generating employment, boosting regional commercial activity, and improving public living standards. At the same time, the deployment of National Fund resources must be accompanied by stringent oversight. Independent audits, transparent cost disclosures, and public reporting on construction timelines and deliverables remain essential for every project.
I strongly support the mandate requiring commercial banks to increase long-term credit facilities for businesses. Kazakhstan’s economic momentum demands investment scale that cannot be absorbed by the state budget alone.
The year 2027 has been declared the Year of Nationwide Construction in Kazakhstan. The President announced that an unprecedented construction cycle will cover all regions in the coming years, expanding highways, railways, bridges, industrial plants, energy facilities, schools, hospitals, and cultural institutions.
The proposal to discuss targeted tax adjustments for high-net-worth individuals also warrants focused attention. President Tokayev instructed experts to prepare precise amendments to the Tax Code that address feedback from the business community. He emphasized eliminating statutory ambiguities, reducing excessive administrative burdens on entrepreneurs, and creating a stable, predictable tax framework.
Furthermore, the President directed that effective January 1 of next year, salaries for primary healthcare field specialists be increased by up to 40% based on continuous service tenure, benefiting over 77,000 healthcare workers. He also instructed raising the national minimum wage from 85,000 to 110,000 tenge, elevating the income of 1.8 million citizens, including more than 370,000 public sector employees.
Overall, the economic roadmap outlined in the Address merits a highly positive assessment. It defines clear structural priorities and identifies funding mechanisms. Nevertheless, the ultimate outcome will depend not on the volume of announced projects, but on the precision of their execution. Achieving these strategic goals requires transparent capital allocation, executive accountability, anti-monopoly enforcement, and equal opportunities for private enterprise. If these parameters are sustained, these initiatives will deliver resilient economic growth and tangible improvements in the standard of living for the citizens of Kazakhstan.
