Kazakh government plans to launch 298 projects in 2018. Kazakh Deputy Minister of Investments and Development reported that the total amount of investments will make up $6.5 billion in 2018. In general, according to vice minister Arystan Kabikenov, in January-February 2018, fixed capital investments grew almost 54.5% and made up 1 trillion 200 billion tenge. Investments grew in mining and manufacturing industries and construction sector. Foreign investments totaled 361 billion tenge, growing by 160 billion tenge. There is a growth of foreign investments in Atyrau, Karaganda regions and Almaty city.

ARYSTAN KABIKENOV, KAZAKH VICE MINISTER OF INVESTMENTS AND DEVELOPMENT:

- We began launching plants in the first quarter of 2018. The first facilities that we launched are a waste management plant in Almaty, a flour mill and a commercial concrete plant in Atyrau region and polypropylene bags production and retail facilities. 

Last year, Kazakhstan became an associate member of the OECD Investment Committee which shows that Kazakhstan’s investment climate meets high requirements. To fulfill the OECD recommendations, Kazakh government has canceled entry visas to a number of countries, and loosened visa requirements for others. This year, the number of countries whose citizens do not require a Kazakh entry visa has reached 61 countries. By the end of 2018, Chinese citizens transiting through the airports of Astana and Almaty will be able to stay on the territory of Kazakhstan for 72 hours without visas. The similar visa requirement is planned to be introduced for the citizens of India.   

ARYSTAN KABIKENOV, KAZAKH VICE MINISTER OF INVESTMENTS AND DEVELOPMENT:

- We have improved the procedure of international agreements conclusion on promotion and reciprocal protection of investments. According to the results of President Nursultan Nazarbayev’s visit to the UAE, the governments of the two countries signed an agreement on promotion and reciprocal protection of investments. Currently, there are about twenty such agreements under review.      

Vice Minister Kabikenov also noted that a package of legislative initiatives on further improvement of the investment climate will also be formed this year.  

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