The article explores the current challenges of digital transformation on business development in emerging markets, particularly in Kazakhstan and China. The emphasis is on the interplay between digitalization, innovation capacity, and human capital development, which are the pillars of resilient entrepreneurial ecosystems. The goal of the research is to uncover the unique aspects of leveraging digital tools to enhance the investment appeal and competitiveness of national economies. The research methodology is founded on a systematic and comparative approach, encompassing the examination of theoretical sources, the compilation of practical examples, and the application of analytical techniques to discern prevailing trends and patterns. The utilization of the case study method enabled the comparison of the best practices in China and Kazakhstan, and the identification of opportunities for their adaptation, considering the unique characteristics of the national context. The novelty and significance of the research lies in the fact that it focuses on the practical significance of digitalization for the development of new business models. The work contributes to a deeper understanding of how digital technologies can serve not only as a tool for modernizing business operations, but also as a catalyst for sustainable socio-economic progress. The results of the research demonstrate that digitalization has a direct effect on the expansion of innovative activity, enhancing the quality of the business environment, and fostering the creation of more transparent and resilient ecosystems. The study concludes that a comprehensive approach is required, encompassing the development of human capital, the promotion of startups, and the establishment of an institutional framework for the implementation of digital technologies. The practical implications of this work lie in the potential to utilize the findings to improve public policy, support businesses, and develop strategies for sustainable development.

Kazakhstan, China, digital transformation, business environment, innovation, investment attractiveness, sustainable development.