Technology, Infrastructure, and Human Capital: What Is Driving Kazakhstan’s Economic Growth

Kazakhstan remains one of the fastest-growing economies in Eurasia. According to the European Bank for Reconstruction and Development (EBRD), the country’s economy expanded by 6.5% in 2025. The EBRD projects GDP growth of 4.7% in 2026 and 4.5% in 2027. The organization has also invested approximately $12.8 billion in Kazakhstan, making the country the EBRD’s largest investment destination in Central Asia.

The International Monetary Fund (IMF), the World Bank, and the United Nations also forecast Kazakhstan’s GDP growth at around 4.6–4.8% over the next several years. By comparison, the global economy is currently expanding at an average annual rate of 2–3%.

The resilience of Kazakhstan’s economy is driven by a combination of several factors: investment in infrastructure, technological development, and the growth of human capital.

Kazakhstan Strengthens Its Position in Global Logistics

Kazakhstan is steadily reinforcing its role as a logistics and technology hub connecting Europe and Asia. The development of the Trans-Caspian International Transport Route, large-scale investments in transport infrastructure, and growing freight flows between Europe and Asia are creating new opportunities for international business and export diversification.

The country continues to invest heavily in transport, logistics, and industrial infrastructure. According to the Eurasian Fund for Stabilization and Development, major infrastructure projects, construction activity, and rising investment have become some of the key drivers of Kazakhstan’s economic growth.

Kazakhstan’s strategic geographic location also enables it to serve as a vital logistics bridge between Europe and Asia. At the same time, non-resource industries are becoming increasingly important. Following its visit to Kazakhstan in the summer of 2026, the IMF mission noted that domestic demand, investment, and the continued expansion of the non-oil sector remain the country’s primary sources of economic resilience.

AI Infrastructure Becomes a New Growth Engine

Over the past several years, Kazakhstan has emerged as Central Asia’s largest IT hub. The capital is home to Astana Hub, an international technology park that brings together thousands of startups and technology companies. Last autumn, President Kassym-Jomart Tokayev signed the Law on Artificial Intelligence, establishing a comprehensive legal framework governing the development and use of AI across the country.

Kazakhstan is now building a network of large-scale artificial intelligence initiatives. This summer, Freedom Holding Corp. signed a trilateral memorandum with Kazakhstan’s Ministry of Artificial Intelligence and Digital Development and the American bank Citi to establish the Freedom AI Super Cluster, a world-class AI infrastructure project powered by GPU computing, providing the processing capacity required for advanced artificial intelligence systems.

Another strategic initiative is the creation of a national AI hub, which Freedom Holding Corp. is developing in partnership with Nvidia. The project is expected to attract approximately $2 billion in investment and will provide the country with high-performance computing infrastructure while creating the foundation for developing domestic AI solutions.

At the same time, Kazakhstan is expanding its data storage and processing capabilities. Freedom Holding Corp. is investing in the construction of Akashi, the largest Tier IV data center in Eurasia. Tier IV represents one of the highest international standards of reliability for data centers. Facilities of this scale are essential for cloud computing, large language models, and modern digital platforms.

As part of a joint initiative with ChatGPT Edu, the Freedom ecosystem has provided 165,000 teachers across Kazakhstan with access to AI-powered educational tools. This represents one of the largest AI education initiatives in the region.

Freedom has also partnered with Nokia to establish a research laboratory in Silicon Valley. The facility focuses on telecommunications, artificial intelligence, and digital infrastructure, enabling cutting-edge global technologies to be integrated into Kazakhstan’s digital ecosystem. As Freedom Holding Corp. CEO Timur Turlov has noted, technology is gradually becoming one of Kazakhstan’s new export products.

The company is also expanding its own high-tech capabilities. Freedom AI Ltd., a subsidiary of the group, develops and implements artificial intelligence solutions for financial services, customer products, and internal business processes while continuing to invest in digital infrastructure. Through the development of Transtelecom, Freedom is also participating in the modernization of data transmission networks and expanding digital connectivity across Kazakhstan’s regions.

Exporting Digital Services

Another distinguishing feature of Kazakhstan’s economy is its ability to rapidly adopt and scale new products and services. The financial sector offers one of the clearest examples. Kazakhstan ranks among the global leaders in cashless payments and mobile banking. According to the National Bank of Kazakhstan, more than 85% of all transactions are cashless, while most financial services are available online. This creates favorable conditions for launching innovative digital services and fintech products.

The process also works in reverse: business models developed in Kazakhstan are increasingly being exported to international markets. Freedom began as a brokerage company in Kazakhstan before evolving into an international ecosystem of financial and digital services. Today, the holding operates in 22 countries across Central Asia, the Caucasus, Europe, and the United States, serving more than 14 million customers.

In recent years, Freedom has significantly expanded its international presence. The company entered the Turkish market through investments in a brokerage platform and has begun establishing a bank in the country. It is also strengthening its European footprint by applying for a banking license in France, where it plans to invest approximately €500 million.

People Remain Kazakhstan’s Greatest Advantage

According to Freedom Holding Corp. CEO Timur Turlov, human capital is one of Kazakhstan’s greatest competitive strengths. In his words, Kazakhstan possesses “a tremendous amount of energy, ambition to build businesses, willingness to work, and openness to mastering new professions and technologies.”

According to the World Bank, Kazakhstan ranks 42nd globally in the Human Capital Index, outperforming many countries with comparable income levels. The country’s strengths include education, workforce skills, and significant potential for further productivity growth.

The index measures a country’s ability to transform investments in education and healthcare into future economic performance. The stronger the human capital, the greater the likelihood that future generations of workers will create higher value-added output and sustain long-term economic growth.

This trend is also reflected in the demographics of Freedom Holding Corp.’s customer base, which offers a snapshot of the people shaping Kazakhstan’s new economy. Approximately 20% of users are between 18 and 24 years old, 26% are aged 25 to 35, and another 27% fall between 36 and 50 years old. Altogether, nearly three-quarters of the company’s customers belong to the country’s most economically active age groups.

Most of these customers live in Almaty, Astana, Shymkent, and other major cities. They rely on digital services, online payments, investment platforms, marketplaces, and modern financial products in their everyday lives – making technology an integral part of daily life and an important driver of Kazakhstan’s future economic development.