Foreign Investors Take Interest in Kazakh Agriculture

Foreign Investors Take Interest in Kazakh Agriculture

Investors’ interest in Kazakhstan’s agricultural sector is increasing. The total amount of investments in the country’s agriculture increased 41 percent over the last year and made up more than 500 billion tenge (US$1.1 billion). Experts forecasted that the total investments volume in the sector will amount to 559 billion tenge (US$1.3 billion) in 2020 to implement 94 projects. All of these projects are aimed at increasing competitiveness of local products and import substitution. (It is planned that) the agro-industrial complex will attract nearly 4.5 trillion tenge (US$10.3 billion) in the next five years. A corresponding memorandum was already signed between Ministry of Agriculture and Kazakh government.

“We will continue working on attracting major investors, including transnational companies. This will allow attracting not only foreign investments to our country, but also advanced technologies and investors’ connections on foreign markets. This will also provide the training for Kazakh experts,” Aikhan Sultan, spokesperson of the  Kazakh Ministry of Agriculture, said.

 

Photo: openbusiness.ru