KAZAKHSTAN TO ATTRACT INVESTMENTS FROM 40 COUNTRIES

KAZAKHSTAN TO ATTRACT INVESTMENTS FROM 40 COUNTRIES

Kazakh Government is planning to attract additional investments into the country. The country’s Foreign Ministry has started cooperating with investors in a new way. The ministry has identified 40 priority countries for investments such as Russia, China, Ukraine, Uzbekistan and others. According to experts, the Government is focusing on non-resource based industries such as food industry, deep processing of oil and gas, chemicals, petrochemicals and machine-building.

ZHUMABEK SARABEKOV, EXPERT, INSTITUTE OF WORLD ECONOMICS AND POLITICS

- The second priority is attracting investments in areas such as information and communication technologies, tourism and finance. The Kazakh Government sees these industries as promising and will strive to attract investments to these sectors and create favorable conditions for raising the Kazakh economy’s competitiveness.

Kazakhstan is planning to increase the inflow of investment by almost 1.5 times by 2022, compared to the value recorded in 2016. According to analysts, the active involvement of the investors from developed countries will contribute to the promotion of Kazakh goods in foreign markets. Kazakhstan exported products worth more than US$ 54 billion in 2018.

BEIBUT ATAMKULOV, KAZAKH FOREIGN MINISTER

-We will work with other Government agencies on implementing measures aimed at bringing the products by Kazakh enterprises in compliance with international best practices, quality standards and packaging requirements. We will also work on ensuring stable exports for our enterprises.  

An investment fund will be created in Kazakhstan to attract investments. The Government is expected to allocate about US$ 970 million for its establishment.