Kazakhstan has attracted US$264 billion of direct investments over the past 12 years
Kazakhstan has attracted US$264 billion of direct investments over the past 12 years. According to official information, the Netherlands, the United States of America, France, Switzerland, Russia and China are the top investors in Kazakhstan’s economy. The vast majority of capital investments account for extraction of mineral resources. In recent years, foreign investors pay special attention to manufacturing sector, including food industry and agro-industrial sector followed by metallurgy, oil and gas, pharmaceuticals, tourism and machine-building. New investors are ready to invest US$7 billion for implementation of new projects in Kazakhstan. They are attracted by the favorable investment environment in the country as well as tax exemptions and other incentives.
ZHENIS KASSYMBEK, KAZAKH MINISTER OF INVESTMENTS AND DEVELOPMENT:
- The Government is constantly monitoring the development of favorable conditions for investors with consideration of the OECD standards and international best practices. The investment environment has significantly improved. In July 2017, Kazakhstan became the associate member of the Investment Committee of the Organization for Economic Co-operation and Development (OECD). Over the past six years, we introduced significant amendments to the Kazakh law according to the OECD standards, such as facilitation of the permit system, improvement of the laws in terms of taxation, customs control, migration, visa requirements and others.
A Russian company is planning to construct a Lube Oil Plant with the capacity of 100 tonnes per year in Almaty region. Digital elements will be applied in the plant’s production operations. According to experts, Kazakhstan’s oil and gas will be in high demand in the global market.
BEN VAN BEURDEN, CEO, ROYAL DUTCH SHELL PLC:
- Even under all the rapid change of ‘Sky’, the world will still need 85 per cent of today’s oil and gas production by 2050. The world will still need oil and gas for a very long time to come. And world will still need the work we do together in Kashagan, Karachaganak and beyond for many more decades.
JAMES JOHNSON, EXECUTIVE VICE PRESIDENT OF UPSTREAM, CHEVRON:
- We have a three-year plan to prioritize digital opportunities, things like augmented reality, robotic process automation and the use of blockchain to buy goods and services can be the next digital technologies with spotlight at TCO.
There are currently a total of 120 countries and international organizations in the list of Kazakhstan’s investors.