Kazakh President Kassym-Jomart Tokayev called for a long-term national uranium reserve and faster progress on building two nuclear power plants (NPPs) in his annual state-of-the-nation address on Wednesday. Tokayev highlighted that nuclear energy is one way to achieve an electricity surplus, which he described as essential for digitalising the economy and integrating artificial intelligence into all areas of public life. He also criticised the government over inefficient energy management and corruption schemes in the sector.
During winter shortages, Kazakhstan buys electricity from neighbouring countries at high prices, only to sell it back at much lower rates in summer. I’m assured that this is standard practice in the energy sector,” Tokayev said. He added that such practices had also led to the deliberate obstruction of power plant construction and commissioning in several regions.
Tokayev opened his address by pointing to an increasingly unpredictable geopolitical environment, which he said “did not exist even during the Cold War." Growing vulnerabilities along maritime routes, he argued, were increasing the importance of overland transport corridors. He pointed to the construction of the Aral-Caspian Highway, which began in August. The project is expected to shorten the Trans-Caspian International Transport Route by 1,000 kilometres and reduce cargo delivery times to three days.
The Bakty–Ayagoz railway line is scheduled to launch next year. It will establish a third railway crossing with China and increase freight capacity by 20 million tonnes. Tokayev said Kazakhstan needed to move beyond its role as a transit country and become an organiser of international freight flows.
He called for developing domestic logistics operators, creating distribution centres, and digitising the transport sector, while also instructing the government to focus on air transit and road infrastructure. According to the IMF's forecast, Kazakhstan's GDP will exceed €350 billion this year, making it the world's 47th-largest economy. GDP per capita is expected to surpass €17,000.
The industrial sector now accounts for more than 14% of GDP. Tokayev attributed the growth to efforts to diversify the economy. Small and medium-sized businesses contribute 40% of GDP, while their share of fixed capital investment has approached 70%.
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