Economic series of the Bulletin of L.N. Gumilyov ENU

Economic efficiency of renewable energy integration in university campuses

А. Raimkulova — 2026-06-30

The growth of energy consumption in higher education institutions and the increase in utility expenditures intensify the need to identify economically efficient solutions in the management of university infrastructure. The purpose of this article is to assess the economic feasibility of transforming university campuses into green campuses during the period 2025–2031 under conditions of rising energy consumption and increasing utility costs. The implementation of renewable energy sources (RES) and sustainable infrastructure solutions as instruments for enhancing the financial sustainability of universities.

The research method is based on a systemic economic approach, within which the key performance indicator is the specific energy consumption of the campus (kWh/m²). A mixed methodology is applied, including multiple linear regression analysis, a student survey, and a case study of L.N. Gumilyov Eurasian National University.

The results indicate that the implementation of RES and the development of waste management systems make the greatest contribution to reducing specific energy consumption and operating costs. These measures generate a long-term budget savings effect, improve infrastructure energy efficiency, and strengthen the financial sustainability of the educational institution.

Conclusions – the green campus model can be considered as an investment mechanism for university development, ensuring cost reduction, increased energy independence, and enhanced competitiveness, especially for countries with severe climatic conditions, including Kazakhstan.

At the same time, building an effective green campus model requires an interdisciplinary approach that integrates both the engineering and technical aspects of implementing renewable energy sources (RES) and the socio-educational mechanisms for fostering environmental culture. It is essential to understand which factors—technological, behavioral, or managerial—play a decisive role in successfully embedding sustainability solutions into university infrastructure.

The aim of this article is to develop a comprehensive model for transforming university campuses into green ones, based on a systems analysis of energy, environmental, and educational components. The study will examine key infrastructure parameters, levels of environmental awareness among stakeholders in the educational process, and institutional practices in sustainable development management. This approach will help identify the most effective strategies for transforming universities into sustainable educational ecosystems.

Keywords: green campus, sustainable infrastructure, renewable energy, energy efficiency, environmental education.

Priorities of modernization of Kazakhstan's higher education system in the context of digitalization

R. Bigozhin — 2026-06-30

The purpose of the article is to analyze the main directions and features of the modernization of the higher education system of the Republic of Kazakhstan in the context of digitalization, as well as to identify modern mechanisms for improving the effectiveness of higher education in the process of digital transformation.

In the course of the study, methods of dialectical, abstract-logical, systemic, comparative and content analysis were used. In addition, approaches to the analysis of regulatory legal acts, national projects and strategic documents, generalization and structural comparison of statistical data were used.

As a result of the study, an analysis of the current state of digitalization processes in the higher education system of the Republic of Kazakhstan was carried out. Expanding the academic and financial autonomy of universities, improving the quality assurance system of education, developing human resources, commercialization of scientific research and strengthening the digital infrastructure were identified as the main directions of modernization of Higher Education. The impact of digital technologies on the quality of education, management efficiency and competitiveness of universities was also evaluated.

The authors emphasize that the modernization of the higher education system in the context of digitalization is an important factor in the socio-economic development of the country. Based on the results of the study, proposals are formulated aimed at improving effective management mechanisms in the field of higher education, institutional support for digital transformation and improving the quality of human capital. The results obtained can be used in improving educational policy, developing strategic development plans for universities and improving the quality of human capital.

The research was guided by the regulatory legal acts of the Republic of Kazakhstan in the field of science and higher education, national projects, concepts and statistical data. The methods of system, comparative and content analysis were used as a methodological basis. As a result of the study, the expansion of academic and financial autonomy of universities, improvement of the quality assurance system of education, development of human resources, commercialization of scientific research and strengthening of digital infrastructure were identified as the main directions of modernization of the higher education system.

The theoretical and practical significance of the research is to determine the mechanisms of effective management of the higher education sector in Kazakhstan in the context of digital transformation. The results obtained can be used in improving educational policy, developing strategic plans for the development of universities and improving the quality of human capital.

Geopolitical crisis and energy resiliency in Central Asia

Ehsan Rasoulinezhad — 2026-06-30

Objective – to assess the impact of geopolitical crises (sanctions, regional conflicts, supply chain disruptions) on the energy systems of Central Asian countries and to identify mechanisms for strengthening regional energy resiliency. Methods – dialectical, abstract-logical, comparative analysis, system approach. Results – the study reveals that Central Asian energy infrastructure remains highly dependent on external transit routes and investment flows, which increases vulnerability during geopolitical shocks. A comparative assessment of energy security indicators for Kazakhstan, Uzbekistan, Turkmenistan, Kyrgyzstan, and Tajikistan is provided. The role of regional cooperation (e.g., CASA-1000, unified energy ring) in mitigating crisis impacts is evaluated. The potential for renewable energy (solar, wind, hydro) and digitalization of energy management to enhance resiliency is identified. Conclusions – the authors state that geopolitical crises accelerate the need for energy diversification, modernization of aging infrastructure, and the creation of joint strategic reserves. Amendments to national energy legislation and the adoption of a regional energy security charter are recommended.

Economic efficiency and aspects of innovative development of waste-free production technologies in the meat processing industry

М. Iskakova — 2026-06-30

The objective of the article is to determine the economic efficiency of producing new types of products in the meat industry using waste-free technologies that increase the nutritional and biological value of products by replacing raw materials with by-products. The introduction of waste-free technologies should ensure a comprehensive and rational use of all types of raw materials, is carried out in order to increase productivity and protect the environment from the impact of production, and is carried out not only through the complete elimination of production waste, but also through its rational use in the same production. Methods - the work uses logical and statistical methods. Results - the analysis of the dynamics, strengths and weaknesses of products from secondary waste on the market, as well as a forecast of opportunities and threats to their promotion is presented. The strengths of products manufactured using waste-free technologies are considered in detail, in particular: fundamentally new developments; high productivity of meat and meat meal. The economic efficiency of introducing waste-free production is determined. Conclusions: The authors emphasize that it is economically beneficial to rationally organize overall production through the use of waste-free technologies, while simultaneously modernizing national dishes in meat processing.

Integration of Artificial Intelligence into the Healthcare System: A Comparative Analysis and Adaptation Possibilities for Kazakhstan

А. Omarova — 2026-06-30

The relevance of the study is determined by the accelerating digital transformation of healthcare and the growing role of artificial intelligence as a tool for improving the efficiency of medical systems. International experience demonstrates that the successful integration of AI requires not only technological readiness but also financial sustainability of the sector, which is particularly important for countries with developing economies, including the Republic of Kazakhstan. The purpose of the study is to conduct a comparative analysis of foreign models of AI implementation in healthcare and to assess the economic conditions of digitalization based on healthcare financing indicators of the Republic of Kazakhstan. The research methods include comparative institutional analysis of international practices, statistical analysis of time series data, calculation of growth increments and growth rates of healthcare revenues and expenditures, correlation analysis based on indicator increments, and the construction of a linear regression model to assess the dependence of expenditures on revenue dynamics. The results of the study demonstrate a steady increase in healthcare financing in the Republic of Kazakhstan while maintaining budgetary balance. However, the dynamics of increments reveal alternating periods of expansion and contraction of financial reserves. A strong positive relationship between changes in revenues and expenditures was identified, indicating a high dependence of the system’s development scale on the resource base. The conclusions confirm that the economic sustainability of the healthcare system is a key prerequisite for scaling AI. The rational use of financial windows of opportunity and the prioritization of projects with measurable effects make it possible to ensure technological development without disrupting budgetary balance. The obtained results may be used in the formation of national and regional policies for the digital transformation of healthcare.

Innovative approaches to forming consumer loyalty in digital retail

N. Aidargaliyeva — 2026-06-30

Objective – to examine innovative approaches to forming consumer loyalty in digital retail and to assess the effectiveness of neuromarketing tools in managing customer behavior under conditions of digital transformation. Methods – mixed research methodology combining quantitative survey methods, comparative analysis, customer segmentation, and experimental neurosensory monitoring. The empirical study included 150 respondents divided into individuals, corporate clients, and dealers, as well as an experimental group of 40 participants exposed to different neuromarketing stimuli. Results – significant differences in satisfaction levels among customer segments were identified. Corporate clients and dealers demonstrated higher satisfaction with payment flexibility, service quality, and reliability of interaction, while individual consumers showed greater sensitivity to service speed and personalization. Neuromarketing stimuli, including dynamic lighting, video displays, background music, and scent marketing, positively influenced emotional engagement, duration of store visits, and purchase intention. In addition, 2025 retail trends confirm the growing role of mobile commerce, personalized offers, and omnichannel loyalty ecosystems in Kazakhstan. Conclusions – effective loyalty formation in modern retail requires the integration of behavioral analytics, segmentation strategies, and sensory marketing tools. The practical significance of the study lies in the possibility of applying the results to improve customer experience management and strengthen the competitive position of retail companies in Kazakhstan.

Elasticity of target indicators of the labor market of Kazakhstan on the way to integration with the higher education market

О. Bezler — 2026-06-30

Background: The alignment between higher education outputs and labor market demands remains a critical challenge in Kazakhstan. Discrepancies between graduate competencies and workforce requirements often hinder economic development and employment efficiency.

Objective: This study aims to quantitatively evaluate the interaction between higher education provision and labor market needs in Kazakhstan, identifying key factors that influence graduate availability and their integration into the workforce.

Methods: Using data from 2015–2025 and projections for 2026–2030, a multi-factor linear regression model was developed to analyze the impact of education costs, average nominal wages, and population dynamics on graduate supply. Elasticity coefficients and an integration index were calculated to measure the responsiveness of graduate supply to economic variables and the level of system alignment.

Results: Regression analysis indicates that a 1% increase in average wages reduces graduate supply by approximately 1.005%, while a 1% increase in population aged 15 and above increases supply by 0.468%. The integration index declined from 14.9 in 2016 to 3.1 in 2024, indicating gradual improvement in labor market alignment.

Conclusion: The findings highlight structural gaps between higher education outputs and labor market demands, emphasizing the need for policy interventions to enhance system integration. This study provides actionable insights for policymakers and educational planners to optimize graduate distribution and workforce planning.

The mechanism of formation of the influence of digital technologies on the effectiveness of managerial decision-making in the system of public services

Zh. Orazmakhanov — 2026-06-30

In the context of active digital transformation, the public sector is increasingly using modern technologies for management decision-making. The objective of this article is to study the impact of digital technologies on the effectiveness of management decision-making in the public service delivery system. Research methods: a study of statistical methods based on the analysis of data from government agencies of the Republic of Kazakhstan, in particular, the use of statistics from the government portal eGov.kz, which allows us to assess the use of digital services by the administration and their effectiveness. Results: the article considers the features of modern digital technologies in the provision of public services, including the use of artificial intelligence, big data, cloud solutions, connections and the Internet. Their capabilities, impact on the quality, validity and efficiency of management decisions are analyzed. Key advantages of digitalization, such as increased transparency, reduced service delivery times, cost reduction, and improved interaction with citizens, are highlighted. Risks associated with data security, unequal access to digital solutions and the need for advanced training are outlined. The cited examples of international and domestic experience, as well as data from the user statistics portal provided by Kazakhstan, take into account digital technologies and their application in government public services. Conclusions: The introduction of digital technologies into decision-making processes in government agencies is associated with a number of problems and risks that require careful consideration and the development of strategies to minimize them.

Project Management and the Integration of ESG Factors: A Review of Scientific Perspectives in the Oil and Gas Sector

A. Kulkenova — 2026-06-30

This research paper is a theoretical review aimed at systematizing the scientific literature on the integration of ESG (environmental, social, and governance) factors into project management in the oil and gas sector. The study aims to systematize scientific approaches to integrating ESG into oil and gas projects, identify key areas, and provide a conceptual basis for future research by identifying theoretical gaps. Based on the principles of a systematic literature review, the study identified scientific trends at the intersection of ESG and project management by analyzing papers in the Scopus and Web of Science databases. The results revealed four priority areas of ESG integration: compliance-based and reporting approaches; explaining impacts through risk management and health, safety, and the environment; stakeholder management and the logic of social license to operate; and organizational agility, flexible, and hybrid management approaches. The practical significance lies in the fact that the proposed classification and model provide oil and gas companies with a methodological basis for integrating ESG requirements into the project planning, implementation, and control system (risk matrix, KPIs, contract and procurement requirements, stakeholder engagement plan), as well as for determining ESG indicators at each lifecycle stage.

Marketing potential of Higher education institutions: digital technologies and innovative approaches

А. Duissembaev — 2026-06-30

This study examines the marketing potential of higher education institutions in the context of rapid digital transformation. The ongoing digitalization of the education sector compels universities to implement innovative technological and marketing solutions to maintain and enhance their competitiveness. The objective of this article is to identify the competitive advantages of higher education institutions achieved through the use of digital and innovative marketing tools and to determine effective approaches to their implementation.

The research methods include a literature review, comparative analysis, statistical data processing, and case studies. The results demonstrate that higher education institutions actively utilizing digital marketing tools such as search engine optimization (SEO), content marketing, social media marketing (SMM), and e-learning platforms gain significant advantages in improving educational quality, institutional recognition, and brand image.

The scientific significance of this study lies in its comprehensive analysis of digital transformation in higher education from both educational and marketing perspectives. The practical significance is reflected in the development of applied recommendations aimed at strengthening the market position of educational organizations through the systematic use of digital marketing tools.

Conclusions: The findings confirm the strategic role of digital marketing in higher education and its practical value for managerial decision-making and competitiveness.

Examining the relationship between airline marketing communications and destination branding on social demographic groups

А. Kazybayeva — 2026-06-30

Objective – to investigate the role of airline marketing communications in shaping brand perception and destination branding across different age groups and to identify which communication tools and channels are most effective for each segment. Methods – a consumer survey of 169 airline service users was conducted to collect empirical data on customer attitudes and preferences and communication channels usage; one-factor analysis of variance (ANOVA) was applied to test six hypotheses and identify statistically significant differences in marketing communication effectiveness across five age groups. The hypothesis was formulated based on theoretical and practical evidence highlighting the importance of age as a determinant of communication channel selection and message perception. Results - confirmed that age-related differences in consumer behavior significantly affect the impact of promotional channels and communication strategies used by airlines. Younger and older consumers respond differently to specific communication tools, which has important implications for strategic marketing planning. Conclusions – age-based segmentation provides a pragmatic and effective basis for differentiating airline marketing communication strategies; airlines are recommended to prioritize digital marketplaces and loyalty programs for younger passengers while directing website-based communication toward older cohorts, and to align promotional product offerings with age-specific preferences to enhance brand recognition and destination branding outcomes.

Financial mechanism for inclusive agricultural development in increasing the socio-economic stability of the agricultural sector

Т. Arzayeva — 2026-06-30

In order to achieve sustainable economic development, many government programs and measures are provided to financially support the agricultural sector.

Objective – to assess the impact of financial instruments on the main development indicators of agriculture and to identify the financial mechanisms that are crucial for inclusive development.

Hypothesis – an increase in financial resources directed towards the agricultural sector will contribute to an increase in the share of the economically active population, the establishment of agricultural product processing enterprises, and the enhancement of export potential.

Methods – statistical and mathematical methods were used to analyze the development of agricultural economics, along with dialectical and abstract-logical approaches to evaluate the impact of key economic and social factors on its inclusive growth.

Results – the analysis revealed economic and social issues related to the inclusive development of agriculture. Based on this data, a strategy for the effective use of financial resources was developed, which is expected to increase the share of the economically active population, facilitate the establishment of necessary agricultural product processing enterprises, and enhance export potential. Furthermore, a methodology for assessing the efficiency of financial resource utilization was proposed based on economic and mathematical modeling.

Conclusions – the authors emphasize the importance of enhancing financing mechanisms for agriculture to reduce economic inequality and increase the social and economic stability of local communities.

Bank lending to small business entities: current state and relevant trends

О. Misnik — 2026-06-30

The purpose of the study is to analyze the current state of bank lending to small businesses in the Republic of Kazakhstan, identify key trends, and determine problems. Methods: statistical analysis, comparative analysis, cause-and-effect analysis, and graphical analysis. Results: the authors analyzed lending, determined the role of banks in providing credit resources to the economy in comparison with other financial institutions, and presented the structure of bank sector loans broken down by borrowers, i.e., businesses and individuals. A more detailed analysis was conducted of the dynamics of lending volumes to small businesses by industry and region in Kazakhstan. The study is supplemented by an analysis of data on the participation of banks in lending to entrepreneurs within the framework of state programs to support and develop business in order to identify banks that are leaders in providing preferential credit resources and are the main financial intermediaries between the state and business. Conclusions: the authors conclude that bank lending to small businesses is important, but existing systemic problems require a change in approach, ranging from the redistribution of bank resources between businesses and consumers to the restructuring of sectoral loan portfolios.

Banking Financial Security Risks in Kazakhstan

T. Mussilimova — 2026-06-30

Due to the rapid development of digitalization, banks are increasingly vulnerable to cyber threats like hacker attacks, data leaks, and fraudulent schemes, posing challenges to transparency and sustainability. The objective is to analyze the main risks affecting the financial security of banks in order to maintain the stability of the financial system in the face of various external and internal threats. It discusses the main types of risks faced by banks and highlights the impact of factors influencing their security and stability. Research methods: structural and functional analysis; comparative analysis, which makes it possible to compare the financial threats of domestic banks with foreign ones; and analyzing statistical data to assess trends in the development of banks. The calculation of credit risks of the banking sector of the Republic of Kazakhstan for 2023-2025 was also given. Results – drawing on international experiences, the authors emphasize the need for comprehensive risk management strategies to enhance cyber security, regulatory compliance, internal audits, and stress testing in second-tier banks. Conclusion – The authors provide recommendations for minimizing risks affecting the financial security of banks, as well as improving cyber security systems, and strengthening financial security to ensure the resilience of the banking sector.

Robo-advisors and the transformation of investment behavior of retail stock market participants

А. Abdykulov — 2026-06-30

Purpose – to analyze the impact of robo-advisors on the transformation of investment behavior among retail stock market participants, to identify the specific features of automated investment platforms, and to assess the influence of artificial intelligence and algorithmic technologies on investment portfolio management processes.

Methods – dialectical, abstract-logical, comparative, and analytical methods, as well as methods of system analysis, generalization and comparison of rating agency data, and analysis of scientific literature and modern approaches in the field of financial technologies were applied in the study.

Results – the study revealed that robo-advisors provide retail investors with access to complex investment strategies, contribute to the automation of portfolio management processes, and reduce dependence on human participation. Algorithmic systems enable dynamic risk management, automatic asset rebalancing, and the formation of diversified portfolios based on investors’ individual risk profiles. Based on the analysis of data from rating agencies in the United States and Germany, differences in the allocation of equity and debt instruments for investors with different levels of risk tolerance were identified. The evolution of robo-advisors from RAs 2.0 models with partial human control to RAs 4.0 systems using self-learning artificial intelligence was examined. The study also identified the features of pure and hybrid robo-advising, user adaptation issues, and the importance of investor education for increasing trust in automated systems.

Conclusions – the findings confirm that robo-advisors form new models of investment behavior among retail investors, strengthen investment discipline, reduce behavioral biases, and expand access to financial services. The integration of artificial intelligence and machine learning technologies creates favorable conditions for the further development of personalized investment strategies and the growth of the digital investment services market.

The Market of Cashless Payments in Kazakhstan: Trends and Development Prospects

A. Orynbassarova — 2026-06-30

Over the past decade, Kazakhstan has demonstrated a significant transition from a predominantly cash-based to an almost entirely cashless economy. This rapid growth has highlighted the need to study Kazakhstan’s experience in payment digitalization and to identify key trends and future development prospects of the market. Objective – to conduct a comprehensive structural analysis of the cashless payment market in Kazakhstan, with a focus on identifying the drivers of its accelerated growth, the institutional and technological features of the national model, as well as assessing prospects for further development in the context of economic digitalization. Methods – the study employs methods of retrospective analysis of statistical data from the National Bank of the Republic of Kazakhstan, a structural-institutional approach, and elements of comparative analysis with international case studies. Results – during the study period (2016–2025), Kazakhstan experienced an accelerated transition from a cash-based to a cashless economy: the share of cashless transactions increased from 16% to 87%, while the number of active payment cards exceeded 42.6 million. Key drivers included the development of payment infrastructure, regulatory initiatives, competition in the banking and fintech sectors, as well as the COVID-19 pandemic. The article also provides a comparison with international models of payment system digitalization (in particular, India and Russia), which made it possible to identify the unique features of Kazakhstan’s experience. Conclusions – the sustainable development of Kazakhstan’s cashless payment market is ensured by the interaction of institutional, infrastructural, and market factors, which have formed the foundation for a deep digital transformation of the financial system. The results have practical significance for the development of effective payment policy and the enhancement of financial inclusion in the country.

Environmental Accounting and Cost Audit in Foundry Production: Digitalization and the Use of Artificial Intelligence

D. Saktaganov — 2026-06-30

The article examines modern approaches to environmental accounting and cost auditing in foundry production under the conditions of active digitalization of the economy and the transition to sustainable development. The necessity of integrating environmental accounting into the overall system of managerial and financial accounting of metallurgical enterprises is revealed. Special attention is paid to the specifics of foundry production, characterized by high energy intensity, significant levels of emissions, and industrial waste generation, which determines the need for accurate identification and analysis of environmental costs.

The key environmental aspects of the production cycle of foundry enterprises are analyzed, including pollutant emissions, energy consumption, waste utilization, and water use. The role of digitalization and the introduction of artificial intelligence (AI) technologies in improving accounting and auditing systems that ensure transparency and reliability of data on the environmental impact of production is substantiated.

Based on system and comparative analysis, a conceptual model of environmental auditing using AI tools is proposed. The model includes automation of environmental cost calculation, pollution risk forecasting, and evaluation of the effectiveness of environmental protection measures. The main directions for applying intelligent algorithms to process large volumes of production data, monitor emissions, and optimize technological processes are presented.

The research results show that the digitalization of accounting and the application of AI contribute to improving the accuracy of analytical calculations, reducing the human factor, and enhancing the manageability of environmental and economic performance indicators of foundry enterprises, which overall increases their competitiveness and sustainability.

Improving cameral control of public procurement in the Republic of Kazakhstan in the context of digitalization

А. Zhakhmetova — 2026-06-30

Objective – to conduct a comprehensive assessment of the development of cameral control in public procurement in the Republic of Kazakhstan in the context of digitalization, aimed at ensuring transparency and effective management of public resources. Methods – dialectical and system-based approaches, abstract-logical, comparative, and structural-functional analysis, as well as the analysis of regulatory legal acts, state electronic databases, and public procurement reports. Results – positive outcomes and existing limitations of using digital tools for cameral control at the preparation, implementation, and execution stages of public procurement were identified; issues of compliance with tender procedures, data transparency, and prompt monitoring of contract execution through electronic platforms were analyzed; discrepancies between the objectives of improving procurement efficiency and the actual allocation of budgetary funds were revealed; a structural model of digital monitoring and risk identification integrated with public procurement platforms was developed. Conclusions - the analysis demonstrates the significant potential of digital tools to enhance transparency and efficiency in public procurement and emphasizes the need to strengthen interagency coordination, institutional discipline, and analytical support for cameral control at all stages of the procurement process.

Comprehensive analysis of the tourism industry in Shymkent: historical, climatic, and economic perspectives

А. Kalkabayev — 2026-06-30

Purpose: The present study aims to comprehensively identify and quantify the factors determining the dynamics of the tourism sector in the metropolitan area of Shymkent from 2018 to 2024. Methods: The research applies an interdisciplinary methodology that goes beyond the descriptive approach common in existing studies. Results: The findings show that Shymkent’s acquisition of megacity status in 2018 became a catalyst for transforming its tourism model from a historically oriented model to one dependent on infrastructure development. Quantitative analysis confirms the high elasticity of tourist traffic in relation to investment, which reached 73 billion tenge by 2024. The investment factor was found to be statistically more significant than seasonal climate fluctuations (p < 0.05). Conclusion: The scientific novelty of the study lies in the first formal quantification of weighting coefficients contributing to the climatic attractiveness of southern Kazakhstan. The research also develops a predictive model linking the demographic growth of Shymkent, with a population of 1.22 million, to visit frequency. Its practical significance is supported by the use of digital monitoring tools such as “Secret Guest” and “Feedback Form” for managing service quality based on big data analysis.