Kazakhstan’s economy attracts US$380 billion of investments during independence years

Kazakhstan’s economy attracts US$380 billion of investments during independence years
rbc.ru

Kazakh entrepreneurs have signed more than 30 investment contracts and 6 non-commercial documents worth over US$2.2 billion. New projects will boost the development of priority sectors of the country’s economy, including agro-industrial complex, healthcare, mechanical engineering and energy. This was the result of a regular meeting of investors that took place in Nur-Sultan. More than 400 specialists took part in the annual forum, including major investors as well as world experts. All participants have come to an agreement that ‘Kazakhstan is a favorable country for investments.’ The country is the leader among the CIS countries in attracting foreign investments. Over the years of independence, US$380 billion have been invested in the economy. New investment instruments have been developed to enhance the potential for growth. The mechanism of the Strategic Investment Agreement was introduced this year. It provides guaranteed stability of legislative conditions on the part of the state for the entire period of validity.

“On what terms do our investors work in Kazakhstan under this investment agreement? How many new jobs will be created in the country? What kind of help will be provided by the state? All this is now being determined. And the general rules of the contract after its conclusion will be observed for up to 25 years,” said Kuat Zholdybekov, Spokesperson for Kazakh Invest National Company.

“We aim to put into operation a factory within two years. In 2 years, we will start producing laminated chipboard in Kazakhstan. We plan to reach a production capacity of about 60,000 cubic meters of finished products per year. Import will total about US$25 million, where laminated chipboard will cover nearly 30 percent,” Oguzkhan Celik, an investor from Turkey, noted.

 

Translation by Saule Mukhamejanova

Editing by Galiya Khassenkhanova

 

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