Аннотация
The article provides a detailed examination of how foreign investments influence the economic development of the Republic of Kazakhstan. The study examines the contribution of foreign capital to industrial and innovative growth, modernization of production infrastructure, introduction of modern technologies and management experience. The regulatory framework and mechanisms for supporting investment policy are differentiated, and the structural features and main directions of foreign direct investment are determined. At the same time, along with the positive impact of foreign investments on economic growth, the risks arising from national security, capital outflow and competitiveness of domestic production are reflected. The results of the study show that effective management of foreign investments is an important factor in diversifying and ensuring the sustainable development of Kazakhstan’s economy. However, dependence on raw materials industries makes the country vulnerable to external shocks, especially in 2024, as evidenced by the recent decline in FDI inflows and capital outflows. For sustainable growth, Kazakhstan needs to diversify investments into manufacturing, the digital economy and transport corridors, as well as increase the sustainability of the investment climate. Investments in infrastructure reconstruction and technological development in the construction of main pipelines, modernization of railway lines and creation of logistics hubs will strengthen Kazakhstan’s energy and transport links.The use of renewable energy sources (solar and wind power plants) and digital infrastructure is also developing. The proposed recommendations on the scientific and practical significance of the research results can be useful for both government program development and private organizations.