Energy System Modernisation and Clean Energy: What Kazakhstan and South Korea Agreed On

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Today, Kazakhstan's economy is more diversified than it was 10 to 15 years ago. For example, in 2010, oil extraction accounted for 16.5% of GDP. By the end of 2024, the share of the oil-producing industry had fallen to 8.1%. Foreign direct investment is following the same trend: diversification is also taking place on the investor side. Investors are becoming increasingly interested not only in extractive industries, metallurgy and the oil and gas sector, but also in other areas of the economy," he said.

• Wholesale and retail trade - $4.8 billion;
• Manufacturing - $4.4 billion;
• Financial and insurance activities - $4.3 billion;
• Information and communications - $1.4 billion;
• Transportation and storage - $977 million.

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The export from the territory of the Republic of Kazakhstan by all modes of transport of certain types of timber products, regardless of their country of origin, shall be prohibited for a period of six months, with the exception of EAEU Commodity Nomenclature code 4406910000 (‘Other coniferous wooden railway or tramway sleepers’) and EAEU Commodity Nomenclature code 4401310000 (‘Wood pellets’), provided that their country of origin is the Republic of Kazakhstan," the order states.

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Tax revenues increased by 18% to KZT 630 billion. Foreign tourists spent $2.9 billion in Kazakhstan. Investment attracted to the tourism sector rose by 33% year-on-year to KZT 1.3 trillion. The industry's contribution to the national economy reached KZT 5 trillion," Myrzabossynov said.

Last year, Kazakhstan hosted 13 international events that generated approximately $18 million for the economy. To strengthen the country’s position in the global market, existing infrastructure constraints must be addressed. In particular, Almaty, as the country’s main business hub, requires a modern international-standard convention and exhibition centre. An appropriate decision on this issue should be made," Myrzabossynov said.

Another unique tourism asset of the country is the Baikonur complex, the world’s first and largest spaceport. The time required for foreign visitors to obtain permits has been reduced to 10 days. This has improved accessibility and enabled tour operators to expand launch-viewing programmes and off-launch tourism activities. The Gagarin Launch Pad, the Assembly and Refuelling Complex, and the Dynamic Test Facility transferred to Kazakhstan have considerable tourism potential. However, their development will require modernisation and substantial investment. Project teasers have already been prepared for potential investors," the minister said.

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Growth was uneven, with declines in 2020-2021 due to the pandemic and OPEC+ production restrictions. However, in the long-term trend, Kazakhstan has strengthened its position," the Energy Analytics Telegram channel said.

The increase has been particularly noticeable since 2016, when production rose from 78 million tonnes in 2016 to 86 million tonnes in 2017 (...) Kazakhstan has managed not only to maintain production levels but also to reach a new record high of around 100 million tonnes in 2025," the report said.