Astana, December 30, 2025 – A telephone conversation took place between Minister of Foreign Affairs of the Republic of Kazakhstan Yermek Kosherbayev and Minister of Foreign Affairs of Georgia Maka Bochorishvili.During the discussion, the foreign ministers reviewed the results of bilateral cooperation over the past year and positively assessed the dynamics of Kazakh-Georgian relations. They reaffirmed mutual commitment to further strengthening political dialogue and developing practical cooperation across all aspects of the bilateral agenda.Particular attention was paid to expanding trade and economic cooperation between the two countries. The importance of activating cooperation in the investment sphere was noted, as it makes a significant contribution to the development of national economies, promoting production growth and job creation.The ministers agreed to maintain close working contacts and to continue constructive dialogue.Source : https://www.gov.kz/memleket/entities/mfa/press/news/details/1135372?lang=kk

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UAPF JSC (hereinafter referred to as UAPF) presents a report on the management of pension assets by the National Bank of the Republic of Kazakhstan (hereinafter referred to as NBRK) and investment portfolio managers (hereinafter referred to as IPMs) on the website enpf.kz in the section “Indicators - Investment Activity”.As of December 1, 2025, the total volume of pension assets managed by the NBRK and IPM amounted to 25,807.19 billion tenge. As of this date, UAPF pension assets held in trust by the NBRK, formed through compulsory pension contributions (hereinafter referred to as CPC), compulsory occupational pension contributions (hereinafter referred to as COPC), and voluntary pension contributions (hereinafter referred to as VPC), amounted to approximately 25,032.97 billion tenge[1]. The volume of pension assets formed through employer’s compulsory pension contributions (hereinafter referred to as ECPC), held in trust by the NBRK, amounted to 690.47 billion tengePension assets under IPM management amounted to over 83.75 billion tenge.Investment portfolio of pension assetsmanaged by the National Bank of the Republic of KazakhstanThe National Bank, as the trustee of the UAPF pension assets, pursues a balanced investment policy: investing in various types of financial instruments across currencies, countries, sectors, and issuers.The main investment areas for pension assets formed through CPC, COPC, and VPC, as of December 1, 2025, are as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan - 42.98%, bonds of quasi-public companies - 9.09%, foreign GS – 2.12%, bonds of second-tier banks of the Republic of Kazakhstan - 2.26%, deposits of the National Bank of the Republic of Kazakhstan – 2.35%, shares and depositary receipts of issuers of the Republic of Kazakhstan - 1.91%, IFI - 1.27%,.The investment portfolio broken down by currencies in which financial instruments acquired through CPC, COPC, and VPC are denominated, as of December 1, 2025, looks like this: investments in national currency – 58.53%, in US dollars – 41.47% of the pension asset portfolioAn analysis of the income received shows that interest income on securities, including deposits and reverse repo transactions, amounted to 1,803.59 billion tenge; income from assets under external management, including exchange rate revaluation, amounted to 493.77 billion tenge; and other income amounted to 6.01 billion tenge. The market revaluation of securities was negative.Accrued investment income for the last 12 months from December 2024 to November 2025 amounted to approximately 2. 32 trillion tenge, with a return of 12.58% and an inflation rate of 9.69%.The ECPC's investment portfolio as of December 1, 2025, is as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan – 91.82%, cash in investment accounts – 0.23%, and deposits of the National Bank of the Republic of Kazakhstan – 4.38%.The ECPC's investment portfolio includes only financial instruments denominated in the national currency.As of December 1, 2025, the ECPC's return over the past 12 months was 8.07%.As a reminder, pension savings are long-term investments. Therefore, it is advisable to analyze investment income over a period of at least one year. In certain periods, a decrease in return may be observed due to exchange rate volatility, changes in the market value of financial instruments, and the impact of inflation. Diversification of the investment portfolio, whereby income from some instruments offsets temporary losses from others, ensures the safety and sustainable return of pension savings over the long term. Thus, investment income has shown stable growth over the past three years, with pension asset returns exceeding the inflation rate.A detailed breakdown of the investment portfolio of financial instruments managed by the National Bank of the Republic of Kazakhstan, including issuers, and an overview of investment activities are available on the official UAPF website. Information on the portfolio structure of pension assets formed through the ECPC is also available on the enpf.kz website.Investment portfolio managersThe total volume of pension assets under IPM management exceeds 80.53 billion tenge.As of December 1, 2025, pension assets under the trust management of Alatau City Invest JSC amounted to 14.25 billion tenge.The company's main investments: government securities of the Ministry of Finance of the Republic of Kazakhstan - 16.03%, Exchange Traded Funds (ETF) units - 14.88%, bonds of second-tier banks of the Republic of Kazakhstan - 14.69%, corporate bonds of issuers of the Republic of Kazakhstan - 10.91%, bonds of quasi-public companies of the Republic of Kazakhstan - 10.74%, repo - 8.72%, corporate bonds of foreign issuers - 5.75%, microfinance organizations - 5.37%, government securities of foreign states - 2.41%. It should be noted that 70.85% of the portfolio is presented in tenge, 27.93% in US dollars, 1.23% in other currencies.As of December 1, 2025, the return on UAPF pension assets over the past 12 months, distributed among contributors (beneficiaries), was 11.11%.A detailed breakdown of the investment portfolio of financial instruments managed by Alatau City Invest JSC, including issuers, is available on the UAPF website.As of December 1, 2025, pension assets under trust management by Halyk Global Markets JSC amounted to 7.74 billion tenge.The main investments in the portfolio structure are as follows: reverse repos (up to 90 calendar days) – 38.64%, government securities of the Ministry of Finance of the Republic of Kazakhstan – 14.90%, securities with government status issued by the central governments of foreign states – 8.65%, bonds of second-tier banks of the Republic of Kazakhstan – 7.41%, equity instruments of foreign issuers (ETF units) – 6.12%, corporate bonds of organizations of the Republic of Kazakhstan – 4.29%, bonds of RK quasi-public companies – 4.12%, corporate bonds of foreign issuers – 1.90%.Investments in national currency accounted for 70.43% of the portfolio, in US dollars – 29.57%.As of December 1, 2025, the return on UAPF pension assets over the past 12 months, distributed to contributor (beneficiary) accounts, was 10.50%.A detailed breakdown of the investment portfolio of financial instruments managed by Halyk Global Markets JSC, including issuers, is available on the UAPF website.As of December 1, 2025, UAPF pension assets held in trust by BCC Invest JSC amounted to 9.87 billion tenge.Main investment areas: bonds of Kazakhstan's second-tier banks – 20.38%, government securities of the Ministry of Finance of the Republic of Kazakhstan – 17.85%, bonds of Kazakhstan quasi-public companies – 17.76%, repo – 12.43%, corporate bonds of Kazakhstan resident issuers – 11.54%, corporate bonds of foreign issuers – 8.89%.Investments in national currency accounted for 69.21% of the portfolio, while those in US dollars accounted for 30.79%.As of December 1, 2025, the return on UAPF pension assets over the past 12 months, distributed to contributors (beneficiaries), was 10.13%.A detailed breakdown of the investment portfolio of financial instruments managed by BCC Invest JSC, including issuers, is available on the UAPF website.As of December 1, 2025, UAPF's pension assets held in trust by Centras Securities JSC amounted to 3.93 billion tenge.28.39% were invested in bonds of Kazakhstan quasi-public companies, 14.78% in bonds of Kazakhstan's second-tier banks, 14.29% in corporate bonds of Kazakhstan issuers, 12.56% in government securities of the Ministry of Finance of the Republic of Kazakhstan, 9.79% in repos, 6.63% in US government bonds, 3.13% in shares and depositary receipts of issuers resident in the Republic of Kazakhstan, and 2.83% in shares and depositary receipts of foreign issuers.Investments in national currency constituted 68.88% of the portfolio, while those in US dollars accounted for 31.12%.As of December 1, 2025, the return on UAPF pension assets over the past 12 months, distributed to contributors (beneficiaries) accounts, was 15.72%.A detailed breakdown of the investment portfolio of financial instruments managed by Centras Securities JSC, with an indication of issuers, is presented on the UAPF website.As of November 1, 2025, pension assets under trust management by Halyk Finance, a subsidiary of Halyk Bank of Kazakhstan, amounted to 47.96 billion tenge.The main investments in the portfolio structure are as follows: reverse repo (up to 90 calendar days) – 21.16%, government securities of the Ministry of Finance of the Republic of Kazakhstan – 19.25%, bonds of second-tier banks of the Republic of Kazakhstan – 8.02%, corporate bonds of foreign issuers – 7.45%, international financial institutions – 13.09%, corporate bonds of issuers of the Republic of Kazakhstan – 6.15%, government securities of foreign states – 5.64%, units of Exchange Traded Funds (ETF) – 5.08%, shares and depositary receipts of foreign issuers – 7.00%, bonds of Kazakhstan quasi-public companies – 3.58%, shares and depositary receipts of issuers of the Republic of Kazakhstan – 2.14%.58.49% of the portfolio is invested in instruments in national currency, 41.51% in US dollars. As of December 1, 2025, the return on UAPF pension assets distributed to depositor (beneficiary) accounts over the past 12 months was 9.45%.A detailed breakdown of the investment portfolio of financial instruments managed by Halyk Finance, a subsidiary of Halyk Bank of Kazakhstan, including issuers, is available on the UAPF website..As a reminder, starting July 1, 2023, contributors may transfer up to 50% of their pension savings through compulsory pension contributions (CPC) and compulsory occupational pension contributions (COPC), ignoring the minimum adequacy threshold, to an investment portfolio manager (IPM), choosing such a company independently. Contributors with voluntary pension savings may transfer 100% of them to an IPM.UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz)    Source : https://www.gov.kz/memleket/entities/abay/press/news/details/1135105?lang=kk

Net investment income accumulated since 2014, following the consolidation of pension assets in the UAPF, exceeded 13.43 trillion tenge as of December 1, 2025. Taking into account payments made, its share of the total pension savings of Kazakhstanis as of that date is 41.5%. Thus, investment income plays a significant role in the formation of citizens' pension savings. Since 2014, there has been a significant increase in the efficiency of pension fund investment, contributing to a significant increase in the total savings of contributors (beneficiaries).It should be emphasized that pension savings in Kazakhstan represent a strategic long-term investment tool aimed at ensuring the financial stability of citizens in retirement. The implementation of a flexible investment policy and asset diversification ensure sustainable positive dynamics in the long term. The return on pension assets over specific short-term periods is not an indicator of their management effectiveness, as income from financial instruments and other transactions accrued over a short period does not always cover fluctuations in the value of securities and exchange rates over a given period. Therefore, it is advisable to conduct an objective analysis of investment income over a period of at least one year.Against the backdrop of dynamically changing macroeconomic conditions, the return on pension assets managed by the NBRK, formed through compulsory, compulsory occupational, and voluntary contributions, distributed to contributor (beneficiary) accounts, amounted to 9.69% for the 12 months ending December 1, 2025. Accrued investment income for the period from December 2024 to November 2025 amounted to approximately 2.23 trillion tenge.The return on pension assets for the same period, generated through mandatory employer pension contributions, amounted to 8.07%.In the medium and long term, a positive real return on pension savings (exceeding cumulative inflation) is ensured. Thus, the accumulated investment return from the inception of the funded pension system in 1998 to December 1, 2025, was 1054.45%, with inflation for the entire period at 933.55%.We also remind you that Kazakhstan has a unique guarantee for the safety of compulsory pension contributions, taking into account the inflation rate. In cases of a decrease in returns in a particular period, affecting the contributor's accumulated return upon the entitlement to benefits, compensation for the difference is guaranteed by the state.The entire investment management and accounting system for pension assets is transparent: each contributor can view their investment income in their personal account on the enpf.kz website or in the mobile app.Information on the investment management of UAPF pension assets and the financial instruments in which UAPF pension assets are invested is published on the official UAPF website (www.enpf.kz) in the "Statistics and Analytics/Investment Management of Pension Assets" section.UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz) Source : https://www.gov.kz/memleket/entities/abay/press/news/details/1135057?lang=kk

The Ministry of Trade and Integration of the Republic of Kazakhstan is holding its national campaign "Bereke Fest" again from December 23 to 31. Around 80 major retail chains across the country are participating in the campaign, including major retailers such as SMALL, Magnum, Fermag, Anvar, Toimart, Fermag, Dina, Norma, and Dana, as well as regional retail chains.This initiative covers all regions of the country and is primarily aimed at stabilizing prices for essential consumer goods, supporting domestic producers, and increasing the availability of Kazakhstani products for the population. It should be noted that the Ministry of Trade previously organized this campaign in September and October of this year.The price reduction was made possible by reducing retail chain markups and building direct relationships between farmers and retail outlets. This enabled direct product deliveries, bypassing intermediaries. It's important to emphasize that as part of the promotion, retail chains have reduced markups, allowing discounts on both domestic and imported goods.The promotional assortment includes socially significant food products.As part of the promotion, major retail chains have set up special promotional zones for products from Kazakhstani producers. The main goals of the promotion are to promote domestic goods and develop sustainable cooperation between retail chains and local suppliers. Furthermore, the promotion helps stimulate domestic demand and strengthen the country's food security.All participating retail outlets are designed in a uniform style. This facilitates consumer orientation within the retail space and emphasizes the availability of products and their local origin.Source : https://www.gov.kz/memleket/entities/mti/press/news/details/1134560?lang=kk

Astana, December 24, 2025 – Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Alibek Bakayev received copies of the credentials from the newly appointed Ambassador of the Republic of Bulgaria Georgi Vodenski.During the meeting, parties discussed the current state and prospects for deepening Kazakh-Bulgarian partnership in the political, economic, and cultural-humanitarian spheres.Particular attention was paid to the implementation of the agreements reached during the official visit of the President of Bulgaria, Rumen Radev, to Astana (8-9 June 2025), as well as the outcomes of the 5th meeting of the Intergovernmental Commission on Economic Cooperation (Sofia, 19-20 May 2025).In addition, the diplomats exchanged views on current regional and international issues.At the conclusion of the meeting, Deputy Minister Bakayev wished tj the Ambassador every success in his diplomatic mission in Kazakhstan. For his part, Ambassador Vodenski expressed gratitude for the warm reception and assured that he would make every effort to further develop comprehensive cooperation between Astana and Sofia.Source : https://www.gov.kz/memleket/entities/mfa/press/news/details/1134301?lang=kk

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In Kostanay region, work on the development of road infrastructure has significantly intensified in recent years.In 2025, the budget of the road industry is 103 billion tenge. This is 2.6 times more than in 2022. Thus, in 2022, 39.7 billion tenge was allocated for this area, in 2023 — 59.7 billion tenge, and in 2024 — 73.8 billion tenge.The increase in funding has made it possible to comprehensively modernize the region's road network. In 2025 alone, 1,300 kilometers of highways were repaired. This is 4.6 times more than in 2022, when only 280 kilometers were restored. This year, the scale of road works has increased significantly.Repairs covered not only highways and roads of regional importance, but also intra-village streets. In 2025, 253 street sections in 50 localities were renovated, as well as more than 400 streets in 103 localities. This is an important step aimed at improving the quality of life of rural residents, improving safety and comfort of movement.The development of the region's road infrastructure remains one of the priority areas. Renovated roads are a pillar of the regional economy and a key factor in strengthening ties between cities and villages.Source : https://www.gov.kz/memleket/entities/kostanay/press/news/details/1133640?lang=kk

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Министерством национальной экономики РК разработан проект Конституционного закона «О специальном статусе города Алатау». Документ закладывает основы создания нового города опережающего развития с отдельным правовым и экономическим режимом, самостоятельной системой управления и инвестирования, а также долгосрочными гарантиями для бизнеса.При подготовке проекта с привлечением международных консалтинговых компаний были изучены лучшие примеры умных городов, специальных экономических зон и особых юрисдикций - Дубай, Шэньчжэнь, Инчхон, Рас-эль-Хекма, а также опыт Международного финансового центра «Астана».Результатом анализа стал проект Конституционного закона, направленный на формирование конкурентоспособной, предсказуемой и технологически ориентированной среды в городе Алатау. Документ предусматривает:особый режим управления городом;применение международных строительных стандартов, технических регламентов, процедур сертификации и технологических норм;ускоренную и приоритетную систему привлечения высококвалифицированных иностранных специалистов;особый режим налогообложения и бюджетных отношений;защиту инвестиций и прозрачный порядок движения капитала;упрощенные процедуры предоставления земель под инвестиционные проекты;регулирование оборота цифровых активов и дрТаким образом, город Алатау предполагается развивать как «самостоятельную экосистему», предусматривающую специальный правовой режим и режим управления, особую институциональную среду, отдельную финансовую модель, а также применение ведущих мировых подходов и практик.Управление городом будет осуществляться через Совет города Алатау под председательством Премьер-Министра, с обязательным участием независимых членов и международных экспертов, что обеспечит прозрачность и профессиональный подход к принятию решений.Долгосрочное развитие города закрепляется через стратегическое и градостроительное планирование: концептуальный план - на 30 лет;стратегия развития и градостроительный план - на 15 лет.Отдельное внимание уделено финансовой модели города. До 2050 года либо до достижения бюджетной самодостаточности налоговые и неналоговые поступления, формируемые в Алатау, не подлежат изъятию в вышестоящие бюджеты.Также будет обеспечена регуляторная самостоятельность, включая собственные акты и лицензии, обеспечивающих правовую стабильность для формирования высокого уровня доверия инвесторов.Отдельным направлением Проекта является цифровизация. Реализация механизма «единого окна» обеспечит полный перевод государственных услуг для бизнеса в цифровой формат.Важно отметить, что проект Конституционного закона направлен исключительно на обеспечение опережающего развития города Алатау.Проект Конституционного закона Республики Казахстан «О специальном статусе города Алатау» размещен для публичного обсуждения: https://legalacts.egov.kz/npa/view?id=15728988Source : https://www.gov.kz/memleket/entities/economy/press/news/details/1133200?lang=kk