The Agency for Strategic Development and Reforms has prepared a draft Presidential Decree on the approval of the National Development Plan (NDP) of the Republic of Kazakhstan until 2029. The draft decree and the Plan itself are posted on the NPA website for public discussion, which will last until February 19.
The National Development Plan of the Republic of Kazakhstan until 2029 defines the priorities of the country’s development in the medium term. The results of implementing the NDP will be the doubling of GDP to $450 billion by 2029 with average annual economic growth rates of 6–7% and through a significant increase in citizens’ well-being, expressed in a 1.4-fold increase in GDP per capita and a 1.9-fold increase in median wages in real terms.
Five overarching principles underlying economic transformations have been identified within the NDP-2029:
- Liberalization and stimulation of competition to enhance global competitiveness and improve the quality of goods and services.
- Entrepreneurship protection and a clear, predictable, and attractive economic policy for investors that will enable the economy to attract sufficient investment for growth.
- Unleashing the potential of Kazakhs with a focus on providing quality education and supporting entrepreneurial and creative initiatives.
- Focus on increasing productivity and the complexity of the economy through expanding innovation activity, modernizing and digitizing industries and enterprises.
- Prevention of critical disparities in regional development and creating conditions for regions to realize their potential and achieve greater economic autonomy.
The Plan sets out 17 development directions within 4 blocks, defining ambitious goals and key priorities for each direction:
- Ensuring a high quality of life.
- Building a strong economic foundation.
- Developing new points of economic growth.
- Overarching transformations of the economy and society.
Ensuring a high quality of life includes quality healthcare, education, social protection, and a comfortable environment.
The second block — a strong economic foundation — will be ensured through the development of such areas as the mineral resource base (oil and gas, metals, and other minerals), energy, as well as manufacturing industry.
The development priorities until 2029 under the New Points of Economic Growth direction include the transport and logistics complex, agro-industrial complex, innovation, digital and creative economy, as well as the tourism sector.
The fourth block of the National Plan is aimed at overarching transformations of the economy and society and includes such blocks as creating a dynamic entrepreneurial environment, a new investment cycle, increasing environmental sustainability, effective public finances, and ensuring the rule of law and improving the effectiveness of public administration.
