Volume of foreign investment to Kazakhstan grew by more than 18% in 2018

Volume of foreign investment to Kazakhstan grew by more than 18% in 2018

Investment growth is one of the main factors of economic development in Kazakhstan. Foreign capital is being invested in the country and work is carried out in all areas. Kazakhstan has embarked on accelerated modernization, innovation and digital transformation. The country has created a favorable investment climate; there are 11 special economic zones and 22 industrial zones, where the necessary infrastructure has been built. Last year the volume of foreign investment grew by more than 18%.

AIBOL ARGYNGAZINOV, SPOKESPERSON, CENTER OF INSTITUTE OF ECONOMIC RESEARCH:

- According to the year-end overview of 2017, 7.4 trillion tenge of foreign investment were invested in Kazakhstan’s economy. In 2018 this figure has increased by 20.3%. This is the direct evidence that Kazakhstan’s economy is attractive and shows steady growth. We also think that this will be facilitated by the opening of AIFC which gives the possibility of placing private and corporate assets as well as deposits and savings.

All regions of the country demonstrate their attractiveness for investors. Thus, in the Zhambyl region, 124 projects are being implemented worth over 80 billion tenge. Construction of the facilities was completed last year.

ZHAIYKBAI SHALDAROV, DIRECTOR, REGIONAL DEPARTMENT OF CONSTRUCTION:

- 20 billion tenge was allocated for construction of 32 houses and infrastructure facilities. Of which, 20 facilities have been built. 7.8 billion tenge was allocated for these works, of which 7.1 billion tenge have been received.

Experts highlight that in the long-term, there would be an increase in the interest of foreign countries towards Kazakhstan. Another notable trend is the increase of investments in manufacturing industry and trade. Given this fact, analysts forecast that by 2022, the volume of foreign investments in fixed capital of the economy’s non-commodity sector may increase to 50%.