Kazakh President Kassym-Jomart Tokayev called for a long-term national uranium reserve and faster progress on building two nuclear power plants (NPPs) in his annual state-of-the-nation address on Wednesday.“I believe it is possible, and perhaps even necessary, to begin construction of the Balkhash NPP as early as next year, and to sign a comprehensive cooperation agreement with the goal of launching construction of the Moyynkum NPP as soon as possible,” he said. Tokayev highlighted that nuclear energy is one way to achieve an electricity surplus, which he described as essential for digitalising the economy and integrating artificial intelligence into all areas of public life.

He also criticised the government over inefficient energy management and corruption schemes in the sector. During winter shortages, Kazakhstan buys electricity from neighbouring countries at high prices, only to sell it back at much lower rates in summer.“It’s a rather simple sort of ‘business’, and one that has persisted for decades. I’m assured that this is standard practice in the energy sector,” Tokayev said. He added that such practices had also led to the deliberate obstruction of power plant construction and commissioning in several regions.

Logistics hub 'historic opportunity'Tokayev opened his address by pointing to an increasingly unpredictable geopolitical environment, which he said “did not exist even during the Cold War." Growing vulnerabilities along maritime routes, he argued, were increasing the importance of overland transport corridors.“Kazakhstan must seize this historic opportunity to truly become a leading logistics hub for Eurasia,” he said. He pointed to the construction of the Aral-Caspian Highway, which began in August.

The project is expected to shorten the Trans-Caspian International Transport Route by 1,000 kilometres and reduce cargo delivery times to three days. The Bakty–Ayagoz railway line is scheduled to launch next year.

It will establish a third railway crossing with China and increase freight capacity by 20 million tonnes. Tokayev said Kazakhstan needed to move beyond its role as a transit country and become an organiser of international freight flows. He called for developing domestic logistics operators, creating distribution centres, and digitising the transport sector, while also instructing the government to focus on air transit and road infrastructure. Address in numbersAccording to the IMF's forecast, Kazakhstan's GDP will exceed €350 billion this year, making it the world's 47th-largest economy. GDP per capita is expected to surpass €17,000.

The industrial sector now accounts for more than 14% of GDP. Tokayev attributed the growth to efforts to diversify the economy. Small and medium-sized businesses contribute 40% of GDP, while their share of fixed capital investment has approached 70%.Kazakhstan's gold and foreign exchange reserves, combined with the National Fund's assets, have exceeded €110 billion.

Tokayev said the country should use these resources to modernise infrastructure and improve living conditions across its regions.

Domestic bank assets have surpassed €130 billion, while savings accounts have reached a record €94 billion. Around 78% of these savings are held in the national currency, which Tokayev cited as a sign of the tenge's growing value.

The president designated next year as the Year of Nationwide Construction, calling on parliament to prioritise building and modernising public infrastructure, including roads, airports, hospitals and cultural centres.

The regions plan to build around 70 medical facilities and 50 educational, sports and cultural facilities. The National Fund is expected to allocate approximately €12.8 billion for these and other infrastructure projects by the end of 2029.

Nearly €3 billion of that amount is earmarked for social projects over the next four months. Tokayev also highlighted the country's demographic profile, noting that Kazakhstan has around seven million children, accounting for 34% of the population. More than 237,000 children have special educational needs. Tokayev said the sector grew nearly 6% last year, with total output reaching almost €30 billion. The address followed Kazakhstan's Day of the Republic and came as the country prepares to mark the 35th anniversary of its independence.