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145 investment projects are implemented in Kazakhstan for a total of 47.8 billion USD

by February 27, 2018 Legal

During today’s Government meeting chaired by Prime Minister Bakytzhan Sagintayev, Minister of Investments and Development Zhenis Kassymbek and First Deputy Minister of Foreign Affairs Mukhtar Tleuberdin reported on the issues of attracting foreign investments.

According to Zhenis Kassymbek, the results for 9 months of 2017 show that the volume of gross inflow of direct foreign investments amounted to 15.8 billion USD, which is 5.3% higher compared to the same period in 2016.

The Ministry of Investments and Development together with Kazakh Invest JSC has formed a general list of 145 investment projects that are being implemented for a total of 47.8 billion USD, which includes projects within the framework of all country cooperation programs, including Kazakhstani-Chinese, Kazakh-Turkish and other investment projects.

Within the framework of Kazakh-Chinese cooperation, 51 projects are being implemented for a total of 27.7 billion USD, of which 4 projects for a total of 140 million USD have been completed. This year, construction will begin of 5 projects involving Chinese capital with an investment volume of 623 million USD. The Kazakh-Turkish cooperation program (“New Synergy”) consists of 26 projects. This year it is expected to see the launch of construction of 2 projects for a total of 15.5 million USD. The general list also includes other investment projects that are implemented within the framework of agreements reached by the Head of State during foreign visits.

All in all, out of 145 projects this year it is planned to begin construction of 15 projects worth 1.6 billion USD. In the long term, the list will include projects that will attract funds from international financial institutions, including PPP projects.

This year the Investment Ministry shifts to the active phase of the implementation of the National Investment Strategy. 45 actions are scheduled for execution in 2018.

The issues of attracting investments are one of the main priorities of the Ministry and are always constantly monitored,” Source: Kazakhstan 2050 Zhenis Kassymbek concluded.

According to First Deputy Minister of Foreign Affairs Mukhtar Tleuberdin, assistance in attracting foreign investment and innovative technologies to priority sectors of the economy, as well as promoting domestic export products is a key element of Kazakhstan’s foreign economic policy and one of the fundamental priorities of trade and economic diplomacy.

As M. Tleuberdin reminded, the Head of the State pays special attention to the development of economic diplomacy. Almost all his official visits abroad include separate meetings with the foreign business community, resulting in commercial agreements. Thus, within the framework of Presidential visits in 2016-2017, investment and trade agreements have been signed for a total of more than 6 billion USD. During the official visit of the Head of State to the United States in January 2018, 27 documents were signed for the amount of about 7 billion USD.

To strengthen the work on attracting investments abroad, work is under way to deploy investment advisers from the Ministry of Investments and Development to target investors in 10 priority countries.

Foreign institutions of the Republic of Kazakhstan jointly with foreign representatives of NC “Kazakh Invest” regularly take measures to strengthen investment cooperation with the foreign business community.

In general, foreign economic guidelines, outlined by the country’s leadership, are laid down as defining throughout the entire spectrum of activities of the Foreign Ministry. The foreign policy department, especially in promoting economic diplomacy, attracting foreign investment, acts as an important link between internal mechanisms and external partners. This multifaceted work will be continued, Source: Kazakhstan 2050 Mukhtar Tleuberdin summed up.

Source: Government of the Republic of Kazakhstan