Kazakhstan plans to direct KZT 6.5 trillion ($14.3bn) from its National Fund towards infrastructure development by the end of 2029, President Kassym-Jomart Tokayev announced during his annual State of the Nation Address on October 28. 

The country’s National Fund was established to cushion the economy against commodity price swings and preserve wealth for future generations, but transfers are also used to support public spending. Tokayev said investment decisions should balance the protection of reserves with infrastructure needs and deliver measurable economic and social benefits.

Tokayev has also proposed designating 2027 as a year of large-scale construction, with a national programme covering roads, airports, railway stations and public facilities. 

The amount planned for allocation will include KZT 1.5 trillion ($3.3bn) for social projects between the remaining months of 2026 and February 2027.

The programme envisages around 70 new healthcare facilities and approximately 50 schools, sports venues and cultural institutions. It also includes extending access to natural gas and safe drinking water in communities that remain underserved. Tokayev said state funding should be used to draw in private capital rather than cover all project costs.

Tokayev also highlighted Kazakhstan’s plans to increase its role in freight transport between China and Europe, including through the Trans-Caspian International Transport Route, commonly known as the Middle Corridor, which offers an alternative land connection between Central Asia and Europe, bypassing Russia.

The 272-kilometre Bakhty–Ayagoz railway in eastern Kazakhstan is scheduled to open in 2027. Construction began in December 2023, and the project includes a new border crossing linking Bakhty in Kazakhstan with Tacheng in China. The line is expected to increase annual rail freight capacity between the countries from about 28mn to 48mn tonnes. A second major project is the approximately 800-kilometre Aral–Caspian Highway, linking Beineu in western Kazakhstan with Saksaulsk near the Aral Sea. Construction began in August. 

Tokayev said the road could shorten the land freight route between China and Europe by around 1,000 kilometres and cut delivery times by three days, although actual savings will depend on the routes used by freight operators.