In his annual state-of-the-nation address delivered on Wednesday, Kazakhstan President Kassym-Jomart Tokayev set a fast-tracked agenda for the country's energy and infrastructure sectors. He explicitly called for the establishment of a long-term national uranium reserve and urged immediate momentum toward the construction of two nuclear power plants (NPPs). According to the President, it is both possible and necessary to initiate construction of the Balkhash NPP as early as next year.
Furthermore, he directed officials to secure a comprehensive cooperation agreement to ensure the Moyynkum NPP project begins as soon as possible. Tokayev emphasized that nuclear energy is a critical component for generating the electricity surplus required to digitize the economy and integrate artificial intelligence into public life.
The President also used the address to criticize the government for what he termed inefficient energy management and persistent corruption schemes. He pointed out that Kazakhstan frequently faces power shortages in winter, forcing the country to purchase electricity from neighbors at high prices, only to resell it in summer at lower rates.
Describing this as a simple business practice that has endured for decades, Tokayev stated he had been told this was standard procedure, even as it has led to the deliberate obstruction of power plant commissioning in several regions.
He also noted that the industrial sector now accounts for over 14% of the country's GDP, a growth he credited to successful economic diversification efforts.
Addressing the broader geopolitical landscape, Tokayev described the current environment as more unpredictable than it was during the Cold War. He argued that growing vulnerabilities along maritime routes highlight the importance of overland transport corridors. Kazakhstan, he said, must seize this historic opportunity to become a leading logistics hub for Eurasia.
He pointed to the Aral-Caspian Highway, which began construction in August and is expected to shorten the Trans-Caspian International Transport Route by 1,000 kilometers, reducing cargo delivery times to three days.
Additionally, the Bakty–Ayagoz railway line, set to launch next year, will establish a third crossing with China and increase freight capacity by 20 million tonnes.
Economically, the country remains stable according to IMF forecasts, with GDP expected to exceed €350 billion this year, placing Kazakhstan as the world's 47th-largest economy with a GDP per capita surpassing €17,000. Tokayev noted that combined gold, foreign exchange reserves, and National Fund assets have topped €110 billion, while domestic bank assets have exceeded €130 billion.
Savings accounts have reached a record €94 billion, with 78% held in the national currency, a sign he cited as evidence of the tenge's growing value.
Looking ahead, the President designated next year as the Year of Nationwide Construction. He instructed parliament to prioritize modernizing infrastructure, including roads, airports, hospitals, and cultural centers. The National Fund is expected to allocate approximately €12.8 billion for infrastructure by the end of 2029, with nearly €3 billion earmarked for social projects within the next four months.
Tokayev also highlighted the nation's demographics, noting that children account for 34% of the population, including more than 237,000 with special educational needs. The address concluded as the nation prepares to mark its 35th anniversary of independence.
