Foreign Businessmen Investing in Kostanai Region
Foreign investors are increasing their presence in Kazakhstan’s economy.
For example, many foreign businesspeople are willingly investing in Kostanai region. Over 10 projects are being implemented there with the participation of foreign investments.
One of such projects is a joint Kazakh-Chinese tractor manufacturing plant. The investors plan to increase the production volumes of the vehicles. The auto component manufacturing company will be built in the region as well.
Russian investors also have ambitious plans. They plan to open two factories to manufacture spare parts for trucks in Kazakhstan. US$300 million will be invested in the project.
“We have started designing the first stage of the foundry plant. We are finishing negotiations with the engineering company to design the gearboxes manufacturing plant. In the first half of 2022, both factories will be launched on the territory of Kazakhstan,” said CEO of Russian Automobile Manufacturing Company, Sergei Kogogin.
The tractor manufacturers also have big plans for the future. They will increase the warranty and service maintenance to a new level as well as work on the provision of spare parts.
“We will create technological competencies and a technological school on certain issues of industrial development. We will manufacture tractors in the territory of Kazakhstan,” said Director of Russian Tractor Manufacturing Plant, Sergei Serebryakov.
Investments are the most important factor in the growth of a country’s economy.
According to the National Bank of Kazakhstan, the inflow of foreign direct capital last year amounted to over US$24 billion. The current target is to increase the annual investment flow to US$34 billion.