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Kazakhstan is working toward a more diversified economy. By January 26, 2021 Advertisement The governments of Kazakhstan, Uzbekistan, and the United States have launched the Central Asia Investment Partnership under the umbrella of the C5+1 format, in order to promote private-sector growth and strengthen regional economic cooperation. The new initiative comes at a time when Kazakhstan is looking to diversify its economy to deal with the effects of the coronavirus pandemic and achieve its long-term goal of becoming one of the most developed nations by 2050. The partnership, launched on January 7, is “designed to raise at least $1 billion over the next five years to support private-sector growth” according to a joint statement by the three governments, in order to advance private sector-led projects that “exemplify international standards for quality infrastructure and promote inclusive, transparent, and sustainable investments.”

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