Tokayev proposes Kazakhstan–Germany investment and financial platform

President Kassym-Jomart Tokayev has proposed a joint Kazakhstan–Germany investment and financial platform that would combine German and European capital with Kazakh co-financing, guarantees, and risk-sharing tools. He outlined several priority areas for deeper economic cooperation during a meeting on 29 September with leaders of major German business associations and financial institutions, at the start of his official visit to Germany.

Tokayev in Berlin: Kazakhstan looks to Germany to turn multi-vector diplomacy into industrial results

Tokayev described Germany as one of Kazakhstan’s key European partners and said Kazakh–German ties form an essential part of Kazakhstan’s broader relationship with the European Union, its largest trade and investment partner.

“We have come a long way together, but the potential of our economic partnership is far from exhausted. Kazakhstan is ready to take it to a qualitatively new level,” he said.

He pointed to Germany’s banking sector, engineering capacity, and Mittelstand — its network of small and medium-sized enterprises — as strengths Kazakhstan wants to draw on as it modernizes and upgrades its technology base.

Proposed investment and financial platform

Under the proposed platform, Baiterek holding would handle project structuring. German export-credit and investment-insurance agencies could take part, along with international financial institutions already active in Kazakhstan. Baiterek is Kazakhstan’s state-owned national investment holding that oversees development banks and funds used to finance industry, infrastructure, exports, housing, and other priority projects.

Tokayev said Kazakhstan’s development institutions provided $20 billion in support to the national economy last year. The Development Bank of Kazakhstan has financed major projects in industry, energy, and transport with backing from German banks, attracting more than $1.2 billion from Deutsche Bank, Helaba, LBBW, Commerzbank, KfW, and other lenders.

He also noted that S&P recently raised Kazakhstan’s sovereign rating to BBB with a stable outlook, while Fitch affirmed the same rating.

Critical raw materials and energy

Critical raw materials were another focus. Kazakhstan wants to work with Germany’s Raw Materials Fund and to promote projects eligible for UFK guarantees, Tokayev said, arguing that such cooperation could help secure reliable supplies for German industry.

He also highlighted scope to modernize Kazakhstan’s energy and industrial sectors through renewable energy and green hydrogen. He said there was significant potential for cooperation between the European Investment Bank and the Development Bank of Kazakhstan, with German capital involved.

AI and digital technologies

Tokayev invited German firms to bring expertise in data centers, energy efficiency, cloud infrastructure, cybersecurity, and fintech.

“The high level of development of Kazakhstan’s digital financial ecosystem creates opportunities for the development of advanced payment solutions and tokenization technologies in the domestic market, with their subsequent scaling across the region,” he said. Kazakhstan’s fintech sector has grown rapidly into one of Central Asia’s most digital finance markets, with non-cash payments now making up 88% of consumer payment value and regulated digital-asset platforms handling $10.6 billion in transactions in 2025.

He added that Kazakhstan has built what he called an advanced digital and financial ecosystem in the region over the past decade.

Alatau City as gateway

Tokayev presented Alatau City as a possible gateway for German investment. He described it as Central Asia’s first smart city designed from the outset for the digital era.

“It can become a practical bridge between German institutional capital and Kazakhstan’s investment opportunities,” he said. Alatau City is a planned smart city near Almaty that Kazakhstan is developing as Central Asia’s first fully digital city, with a special legal regime meant to attract technology, finance, and industrial investment.

Broader economic partnership

The meeting also discussed pairing German finance, expertise, and risk-management tools with Kazakhstan’s resources and transport links. Tokayev said Kazakhstan aims to be a reliable partner for Germany in Central Asia and across Eurasia.

He stressed that closer cooperation should go beyond attracting more capital and should include building new industries and long-term sources of growth. He also assured German investors that Kazakhstan would keep conditions favorable and predictable, protect investors’ rights, and support strategically important projects.

This article draws on reporting by EUalive’s partner The Astana Times.

Caption: German Chancellor Friedrich Merz (R) and Kazakh President Kassym-Jomart Tokayev attend a joint press conference at the Chancellery in Berlin, Germany, 29 September 2026. Tokayev is on an official visit to Germany until 30 September. EPA/CLEMENS BILAN