Kazakhstan’s economic reforms discussed at round table in Oslo

The Embassy hosted a round table discussion on the development of Kazakhstan, the cooperation in Central Asia, and the Kazakh-Norwegian relations.

Ambassador Adil Tursunov spoke about the program of economic reforms presented by President Kassym-Jomart Tokayev in the annual state-of-the-nation address.

Kazakhstan plans structural economic reforms, forming a robust industrial foundation and achieving economic self-sufficiency in the coming years. To diversify the economy, the government will focus on deep processing of metals, oil, gas, coal chemistry, heavy engineering, uranium conversion and enrichment, automotive components, and fertilizers. The country will reform geological exploration and the mining sector management system. Foreign and domestic investors will be exempt from taxes and other obligatory payments for the first three years to support the manufacturing industry. Overall, the reforms should provide for stable economic growth at 6-7 percent to double the volume of the national economy by 2029, up to $450 billion.