Economy

Kazakh President Kassym-Jomart Tokayev called for the construction and renovation of public infrastructure across all regions of Kazakhstan, and proposed declaring 2027 “the Year of Large-scale Construction”. Delivering his address to the people of Kazakhstan in his “state of the union” address, Tokayev stressed the need to launch construction and renovation projects in regional centers, districts and settlements throughout the country. Our collective nationwide response to the approaching era of artificial intelligence should be to build — and, once again, to build!, Tokayev emphasized. According to the President, key priorities include the construction of roads, airports, railway stations and healthcare facilities. Special attention will also be given to rehabilitation centres for children with special needs. In addition, every region should have creative development centres, sports complexes, libraries and scientific centres. Tokayev also highlighted housing construction as an important priority. Kazakhstan’s large-scale “People’s Construction” program, announced by the President, will pave the way for major infrastructure development and reforms across all sectors of the economy, Kazakh Prime Minister Olzhas Bektenov said at a government meeting. Bektenov stressed the need to develop a clear action plan to implement President Kassym-Jomart Tokayev’s state-of-the-nation address, delivered on October 28. The Prime Minister said the address sets out the central goal of building a fair, strong, clean and progressive Kazakhstan. Achieving this objective will require making the fullest possible use of the country’s existing potential and the opportunities emerging from modern innovation. Bektenov highlighted the significance of the “People’s Construction” initiative, describing it as the starting point for major infrastructure transformations and comprehensive reforms throughout the economy. “This large-scale project will provide significant momentum for employment growth and improving citizens’ well-being. This address is the most substantive policy document for the near future. We must have a clear action plan for its implementation”, he said. Kazakhstan also plans to build nearly 70 new healthcare facilities across the country. (click image to read more)

In recent days, Uzbekistan welcomed the Chinese and American governments in quick succession. During Chinese Premier Li Qiang’s visit on 17-18 October, the Uzbek presidential administration said that joint projects backed by firm agreements had reached nearly $60 billion. US Secretary of State Marco Rubio then arrived in Samarkand for C5+1 talks, accompanied at the time by American business leaders seeking contracts, particularly in critical minerals. During the visit, Uzbekistan announced 54 agreements covering trade, investment, and technology. The agreements are said to be worth a total of $12 billion, according to Uzbekistan’s Ministry of Investment, Industry and Trade. However, China still accounts for 23% of Uzbekistan’s foreign trade in January-August 2026, while US goods trade with Uzbekistan totalled at $1.05 billion in 2025, which is less than a fifteenth of the value of its trade with China. Rubio said Washington was not asking Central Asian countries to stop cooperating with other partners, but would instead compete for investment. Tashkent is likely to welcome investment from both sides, but the trade gap shows how challenging it will be if it were to decrease its dependence on Beijing. “Chinese Premier Li Qiang visited Uzbekistan on October 17–18, just ahead of United States Secretary of State Marco Rubio, who arrived in Samarkand on October 18 with a delegation of American business leaders seeking new contracts. While China already has a substantial presence in Uzbek manufacturing and energy, Washington is seeking to expand American involvement in critical minerals and technology. The visits highlight the growing competition between the world’s two largest economies for influence in Central Asia. On October 17, President Shavkat Mirziyoyev received Li Qiang. According to the Uzbek presidential administration, the portfolio of joint projects backed by firm agreements has reached nearly $60 billion. More than 6,000 joint ventures with Chinese participation have been established in Uzbekistan. (...) Construction of the China–Kyrgyzstan–Uzbekistan railway was another topic of discussion. Work officially began in December 2024. The route will cross mountainous areas of Kyrgyzstan and connect the railway networks of China and Uzbekistan. The 304-kilometer section through Kyrgyzstan alone is estimated to cost $4.7 billion and will require 50 bridges and 29 tunnels. (...) On October 19, Rubio attended talks in Samarkand under the C5+1 format, bringing together the U.S. and Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. Rubio said nearly 300 American businesses were represented in Samarkand. Companies were discussing agreements potentially worth billions of dollars, with concrete announcements expected following the meetings. Among Washington’s priorities are critical minerals used in advanced technologies, including electronics and batteries.”