On May 14, Kazakhstan President Kassym-Jomart Tokayev and Turkish President Recep Tayyip Erdoğan, who arrived in Kazakhstan on a state visit, attended the Kazakh-Turkish Business Forum.
Opening the event, Tokayev emphasized that Kazakhstan provides comprehensive support to Turkish companies.
“Today, approximately 3,800 enterprises with Turkish capital are successfully operating in our country. Thousands of jobs have been created through our joint efforts. Deepening cooperation in the industrial sector is essential to increasing investment. I am confident that today’s event will contribute to a further increase in the number of joint ventures,” he stated.
Tokayev highlighted that Kazakhstan is the largest economy in Central Asia. Last year, the country’s gross domestic product grew by 6.5%, exceeding $300 billion, which demonstrates the stability and enormous potential of the domestic market.
The Kazakh President noted that creating a favorable environment for business is a priority of state policy.
“Extensive work is currently underway in this area. The Foreign Investors Council under the President has been established. A dedicated Investment Headquarters is operational. The National Digital Platform, operating on a one-stop-shop principle, has been launched. Foreign entrepreneurs can take advantage of the Altyn Visa program. The main goal of this unique visa is to provide investors with tax and immigration benefits. I encourage Turkish entrepreneurs to take advantage of this opportunity. As you know, the Astana International Financial Center (AIFC) is actively operating in our capital. It is a leading hub in the region, created to provide comprehensive support to investors and entrepreneurs. The center operates under the principles of English law, leveraging the best practices of the financial centers of Istanbul, London, Dubai, and New York. More than 5,600 companies from nearly 90 countries are registered here, including 73 Turkish companies operating in finance, trade, construction, and other sectors. Furthermore, the partnership between the Astana Financial Center and the Borsa Istanbul stock exchange is strengthening. We are interested in expanding ties with Turkish businesses. As we understand, at the initiative of Mr. Recep Tayyip Erdogan, a number of specific measures will be implemented to attract large-scale investment into the national economy. Bona fide entrepreneurs will be granted a range of regulatory and tax benefits,” Tokayev said.
He noted the need to develop cooperation in the industrial sector.
“To date, 142 projects worth a total of $7.6 billion have been implemented through the joint efforts of Kazakh-Turkish business circles. Among these, I would like to highlight YDA Holding, which has opened a multi-industry manufacturing complex in our country. Furthermore, it is increasing aluminum production and manufacturing medical products. Panelsan and Betek Boya are implementing projects in the construction and chemical industries, and Aksa Energy has launched a modern power plant in the Kyzylorda region. All these projects are designed to strengthen Kazakhstan’s production potential,” said Tokayev.
President Erdoğan also expressed satisfaction with the high level of bilateral economic relations.
“Today, Kazakhstan is recognized as the largest economy in Central Asia, with a foreign trade turnover of $145 billion. As a result of this growth, the country was our largest trade and economic partner in the Turkic world in 2025. Our goal is to increase our trade to $15 billion,” the Turkish President said.
Photo: akorda.kz
