Kazakhstan receives higher foreign investments compared to other Central Asian countries

Kazakhstan receives higher foreign investments compared to other Central Asian countries

Kazakhstan is one of the leaders in terms of attracting foreign investments into the country in the Central Asia region.

According to Kazakh Ministry of National Economy, the inflow of investments, particularly from Russia, has increased by 34$ in 2018, while the number of joint enterprises also increased by 63% in the last three years.

The two countries are set to further increase the volume of joint investments to US$1.2 billion by working on the development of industrial collaboration and establishing joint Kazakh-Russian enterprises based on existing and new production facilities in Kazakhstan.

Expert of Russian International Affairs Council, Nikita Mendkovich said that there are more than 9,000 Russian-invested enterprises in Kazakhstan and more than one-third of those in joint enterprises.

“A major part of the facilities are involved in advanced processing, particularly car manufacturing industry. The projects also include the construction of machine-building enterprises with the increased use of local content,” he said.

Kazakhstan also has vast cooperation with Turkey as the country is one of Kazakhstan’s top 10 strategic foreign investors.

The amount of total direct investments that Turkish companies have invested in Kazakhstan over the years reached US$3.2 billion.

Turkey also implemented a total of 500 projects, worth about US$23 billion in the country. Meanwhile, the volume of trade turnover between the two countries totaled about US$2.5 billion.

“Kazakhstan has a huge potential for foreign investors. Our company implemented infrastructural projects in Kazakhstan, including the airport in Aktau, the National Museum of Kazakhstan and a number of residential buildings.”

“Our current goal is to commission public and private partnership projects in Almaty and Pavlodar,” said Turkish investor, Huseyin Arslan.

Foto: www.forbes.kz