Kazakhstan ranks first in growth of foreign direct investments

Kazakhstan ranks first in growth of foreign direct investments
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Kazakhstan ranked first in terms of the growth rate of foreign direct investments among countries with economies in transition and landlocked states. Most of the investments were made in such industries as manufacturing, transport, telecommunications, financial activities, energy, mining and others. This is reported by the Ministry of Foreign Affairs. Despite the reduction in their total volume, Kazakhstan received almost 35% more capital than a year earlier. Such data are provided in the World Investment Report from the UN Conference on Trade and Development. By the end of 2020, 41 projects with the participation of foreign capital for more than $1.5 billion were implemented. In general, the inflow amounted to almost $4 billion. This is the second rate in the CIS.

“In 2019, according to the UNCTAD, foreign investment amounted to $2.9 billion. And already in 2020, it grew by almost 35%. If we talk about foreign direct investment, Russia ranks higher among the CIS countries. It stands to reason. Kazakhstan is also approaching this figure,” said Almas Aidarov, Kazakh Deputy Minister of Foreign Affairs.

 

Translation by Galiya Khassenkhanova and Saule Mukhamejanova