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Reboot of attracting investment system has led the growth of foreign direct investment – Zh. Kassymbek

by February 4, 2017 General

Zh. Kassymbek reported that direct investments increased by 4.5 times and amounted to 12.3 billion dollars for the first 9 months of 2016. In accordance with the request of the President of the Republic of Kazakhstan, the restart of attracting investment system was initiated. Over 300 representatives of the world’s largest companies from 12 countries, including 80 multinational corporations attended foreign negotiations with potential investors – business captains over the last 2 years.

In 2017, it will be put into operation about 40 projects with investments of about 1 billion dollars. In continuation of the current format of attracting investment in the current system, together with the World Bank experts will be developed and approved by the Investment Strategy.

Zh. Kassymbek reported that 130 projects worth 878 billion tenge put into operation and 10 of permanent jobs were opened in 2016 in the framework of the Industrialization Map. The map project produced goods to 2.2 trillion tenge last year . Of these, 1.4 trillion tenge falls on the manufacturing industry, accounting for over 18% of the total sector.

In the current year it will be realized over 100 projects worth 700 billion tenge, including 25 projects will be launched in the first half. Through these projects it will open another 10 thousand permanent jobs.

“On the whole, the industry has adapted to the new conditions, the new rate of tenge. At the end of the current year, we plan to ensure the growth of the manufacturing sector to 2.5%,” the minister said.

Sustainable growth of production is necessary, as specified in the Message to the people of Kazakhstan, to begin implementation of the system elements of the fourth industrial revolution. To do this in partnership with the world’s leading companies in the industry sector will be determined during the current year, the most comprehensive ready to introduce elements of the new economy.

In these sectors, it is planned to organize projects to implement the technology industry 4.0 the further spread of the experience to other companies and sectors. According to Zh. Kassymbek, the introduction of elements of Industry 4.0 – is not only an important factor of the competitiveness of enterprises, but also the ability to significantly neutralize Kazakhstan such factors as lack of access to the sea, the new home market, the shortage of qualified personnel. One of the creation of new industries is the development of the production of electric vehicles and related infrastructure. To this end, in accordance with the request of the Head of the relevant ministry of the state will develop a road map and its implementation started.

Source: Prime Minister of the Republic of Kazakhstan