Increasing investment attractiveness of Kazakhstan - one of CES`s purposes

Photo: Increasing investment attractiveness of Kazakhstan - one of CES`s purposes / Economy news

Astana, Kazakhstan, May 12
By Daniyar Mukhtarov - Trend:

One of the major objectives of the Customs Union and the Common Economic Space is to increase the investment attractiveness of Kazakhstan, the head of the International Economic Integration Department of the Kazakh Ministry of Economy and Budget Planning Ernar Bakenov said.

"Since the establishment of the Customs Union the volume of direct foreign investment in the processing industry of Kazakhstan increased by 88 percent," he said at a press conference in Astana.

The increase was from $1.8 billion in 2009 to $ 3.4 billion in 2012, according to the department head. Herewith, the total foreign direct investment for the period increased by 34 percent - from $21.4 billion to $28.3 billion.

"In 2013, the gross inflow of direct investments in Kazakhstan amounted to $24.1 billion," Bakenov said.

The second goal pursued by the government while creating the CES, is the development of processing industries on the basis of expanding sales markets, he said.

"Thanks to more liberal tax policy and investment climate whereby the partners in the Customs Union and the Common Economic Space, Kazakhstan has a better chance of attracting foreign capital and capital of the Customs Union for the creation of joint ventures," the ministry's representative said.

Translated by S.I.
Edited by C.N.

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