The flow of foreign investments in Kazakhstan's economy is breaking records
The flow of foreign investments in Kazakhstan's economy is breaking records. In the first quarter of this year, the indicator increased nearly 70% and amounted to more than 1 billion tenge. Foreign investments are growing, primarily in the industrial development of the country. According to the Kazakh Minister of Investments and Development Zhenis Kasymbek, since the beginning of this year, the budget for the country’s industry has amounted to more than 850 billion tenge which is 71% of the total amount of investments into the country. As representatives of the department explained, this volume of investments is associated with development of projects with foreign participation in Kazakhstan. A number of agreements worth more than US$50 million were signed with companies from Europe, Russia, China and Turkey. These joint projects will be implemented in the next five years. Kazakh Minister Zhenis Kasymbek says, today the investment climate in Kazakhstan is one of the most favorable ones in the region.
ZHENIS KASYMBEK, KAZAKH MINISTER OF INVESTMENTS AND DEVELOPMENT:
Within 25 years, 70-80% of investments into Central Asia accounted for Kazakhstan. We must maintain this pace. We should assure investors in the stability of the local legislation which means our legislation protects their investments. Last year, Kazakhstan became an associate member of the Organization for Economic Co-operation and Development Investment Committee. This indicates that our work is recognized internationally.
As part of the state Digital Kazakhstan program which is aimed at increasing the competitiveness of the country's economy and creating modern innovative technologies, a number of domestic industrial facilities will be taken into consideration. According to Zhenis Kasymbek, pilot projects will become an example of the successful implementation of digital technologies in Kazakhstan.