MOSCOW

Kazakh President Kassym-Jomart Tokayev on Wednesday met the country's new cabinet and outlined his expectations that include attracting more investment into the economy.

Addressing the new government formed the day before, Tokayev, who was reelected after the November 2022 snap presidential election, said Kazakhstan's economy hast to increase to $450 billion by 2029, for which it needs 6% annual growth.

The head of state called attracting investments "a priority," and urged the ministers to facilitate opportunities in this regard.

"In general, the activities of all government agencies should be aimed at attracting more investment in the economy," he emphasized.

He said ensuring strong medium-sized enterprises in the industrial sector, and building innovative enterprises was also important.

Tokayev instructed the government, together with interested state institutions, to prepare a decree on economic liberalization within a month, which should focus on three areas -- market competition, effective privatization, and reform of the public sector.

The president asked the government to turn the country into a place of attraction for "digital nomads" from all over the world, and for this purpose launch the Digital Nomad Residency program.

One of the purposes of the project is to encourage possibilities of artificial intelligence (AI) and new technologies in the country, he said.

He appointed his chief of staff, Olzhas Bektenov, 43, on Tuesday, as the new prime minister, a day after signing a decree on the government’s dismissal.