News Kazakhstan08.08.2024
Kazakhstan's National Development Plan until 2029: Balancing energy security with a growing share of renewables

QAZAQ GREEN. On July 30, 2024, Kazakhstan’s President Kassym-Jomart Tokayev signed a decree approving the National Development Plan of the Republic of Kazakhstan until 2029. In his 2023 Address to the Nation, President Tokayev highlighted the need for a new economic paradigm to achieve sustainable and inclusive growth, overcome the "middle-income trap," and lay the groundwork for Kazakhstan to join the ranks of high-income countries. This requires prioritizing tasks and updating the medium-term development plan to address global economic and technological changes and critical socio-economic challenges.
Since 2014, Kazakhstan's economic growth has slowed to below 5% annually. The export-driven raw materials model, which relies heavily on mineral resources, contributes more than 15% of GDP and 70% of exports but limits revenue and investment potential. Structural changes and a balanced fiscal policy are necessary as global demand for fossil fuels declines.
Past economic growth has taken a toll on the environment, placing Kazakhstan among the top 20 greenhouse gas emitters, with two-thirds of its land at risk of drought. Immediate action is required to meet the goal of carbon neutrality by 2060.
Kazakhstan has the potential to develop breakthrough technologies, which will necessitate skill transformation, human capital development, and the establishment of modern digital infrastructure. The National Development Plan until 2029 outlines strategies to increase investment, boost labor productivity, and enhance goods production. Government initiatives will focus on sustainable resource use, environmental protection, justice system and law enforcement improvements, raising living standards, and ensuring equal opportunities for all citizens.
The plan also emphasizes the development of the energy sector, aiming to ensure the sustainable growth of Kazakhstan's energy industry, achieve carbon neutrality by 2060, attract more investment, and create equal opportunities for citizens.
“The priorities for the development of the energy sector are focused on ensuring energy security and meeting carbon neutrality commitments by promoting investment in infrastructure modernization, expansion, and large-scale implementation of energy efficiency measures in the economy,” the decree states.
The energy sector's priorities through 2029 include:
- Infrastructure Modernization: Reducing wear and tear on power generation and grid infrastructure, implementing modern metering systems, and utilizing smart meters and digital technologies.
- Increasing Renewable Energy Share: Expanding renewable energy procurement and flexible capacities, supporting renewable energy generation in industries, and retraining personnel for green energy sectors.
Key initiatives include enhancing renewable energy auction mechanisms, increasing flexibility by adding new resources such as energy storage systems, and boosting in-house renewable energy production in industries. Supportive measures include introducing obligations for renewable energy use in industrial consumption and establishing mechanisms for selling renewable energy for companies with their own generation, following models from India and Sweden. Additionally, a program for retraining workers in green energy sectors is planned, inspired by initiatives like Scotland's Green Jobs Workforce Academy and Canada's Future Skills Centre.
- Enhancing Investment Attractiveness: Creating predictable conditions for investors, revising tariff structures, and expanding state support for generation projects and green hydrogen.
- Improving Energy Efficiency: Reducing the energy intensity of the economy, introducing energy ratings for buildings, and supporting energy efficiency programs and audits in industry.
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