Kazakhstan Records First Foreign Investment Outflow in Over 30 Years

In 2024, Kazakhstan ranked last among Central Asian countries in terms of foreign direct investment (FDI), marking the first year since independence that the country experienced a net outflow of capital, Orda.kz reports.

According to the latest report from the United Nations Conference on Trade and Development (UNCTAD), $2.55 billion was withdrawn from Kazakhstan in 2024.

Unlike previous years, no net foreign investment came into the country.

For comparison, FDI inflow reached $3.7 billion in 2023 and $6.5 billion in 2022.

Among Central Asian nations, Uzbekistan led in 2024 with a net inflow of $2.8 billion, while Kazakhstan fell to the bottom of the list.

Political analyst Marat Shibutov suggests that the outflow may be linked to the completion of major industrial and oil and gas projects, such as the Tengiz expansion. He also pointed to an increase in capital transfers to the UAE and offshore zones.

Earlier, it was reported that China plans to invest more than 70 billion tenge in Kazakhstan’s economy.

Original Author: Nikita Drobny