Kazakhstan boosts China investment ties after Xi’s visit

ISTANBUL

Kazakhstan’s Prime Minister Olzhas Bektenov held a key meeting Friday to speed up joint projects with China, after Chinese President Xi Jinping’s recent visit brought billions in new investment agreements.

Bektenov said the deals signed during the Central Asia-China Forum in Astana gave “strong momentum” to economic ties.

In total, 58 agreements worth $24 billion were signed between Chinese and Kazakh companies in areas like green energy, transport, farming, and industry.

“The president has set a goal to attract at least $150 billion in foreign investment by 2029,” Bektenov said. “China is one of our top partners. We will fully support these projects, and I will personally monitor their progress.”

According to Kazakhstan’s Foreign Ministry, Chinese companies have already created 50,000 jobs in the country.

Right now, 224 industrial projects worth over $66 billion are underway with Chinese partners. From 2005 to 2024, China invested $26.4 billion in Kazakhstan.