Azerbaijan, Baku, April 8 / Trend S.Aliyev /
Unemployment in Kazakhstan has recently kept at a stable level not exceeding 5.5 per cent, Kazakh First Deputy Prime Minister Bakytzhan Sagintayev said at a meeting of the World Economic Forum in Baku on Monday.
"According to the specialists, Kazakhstan is one of the most attractive CIS countries for investments," he said. "More than $160 billion direct foreign investments have been attracted since 1993."
According to Sagintayev, 80 per cent of direct foreign investments in the Central Asian region fall to Kazakhstan.
Kazakhstan's financial potential and international reserves, including funds of the National Fund which reached $87 billion, are being consolidated, he said.
"The rating of the World Economic Forum, where Kazakhstan ranked 51st in the Global Competitiveness Index, moving over the year to 21st in the group of countries with a high level of development testify to the country's success," he said. "A new stage of world development associated with innovations, the latest knowledge and technology meet the modernisation needs of the economic foundation of the country."
In this regard, a programme of forced industrial development of the country aimed at diversifying domestic industry has been implemented since 2010, he said.
"At present, Kazakhstan plans to implement more than 770 projects. This means the creation of more than 200,000 jobs," Sagintayev said.
"More than 530 enterprises supporting the modernising of the infrastructure have been commissioned during the past three years," he said. "Nine free economic zones and industrial parks are operating to support the programme. Various financial and non-financial measures are in place to support business. So, we now invite the regions to cooperate with our companies and enterprises."
Taking into account President Nazarbayev's strategic goal on joining the 30 most developed countries in the world, the work on the modernisation and transformation of the Kazakh economy on the parameters characteristic for this group of countries and international practice standards will begin by 2050, he said.
"The transition to a 'green' economy will be the first practical action. It is therefore appropriate that Astana was chosen to host the EXPO-2017 international exhibition. The main theme is energy of the future," he said.
"I would like to highlight some of the promising areas of cooperation with the countries of Central Asia and the Caucasus," he said. "There is certainly a beginning on a number of areas, but on the whole, there is still considerable potential to expand cooperation and business initiatives."
He added that taking into account the geographical position of being at the crossroads of Europe and Asia, the country has a significant transport and logistics potential.
Kazakhstan has greatly intensified its work to restore the previous transit functions of the bridge between the East and the West.
"Several important projects in the directions of East-West, North-South are being implemented," he said.
"These are the transcontinental projects that open up new opportunities for the growth of trade and economic exchange for Kazakhstan and other Central Asian countries without a maritime route and located far from international markets," he confirmed. "We are constructing the Western Europe-Western China highway.
"The Khorgos-Eastern Gates project aimed at improving trade relations with the fast-growing region of South-East Asia and China is being implemented on the east of the country."
The issues of many geographical barriers can be resolved after these projects are implemented, he added saying that that Astana will host the next Astana Economic Forum on May 26.
The purpose of being the host country is to find solutions to urgent international and regional problems faced by many countries," he said. "The world anti-crisis conference under the UN auspices will be a key event of the VI Astana Economic Forum."
"I wish for plenty of productive work at the Baku forum," he said.
Today Baku is hosting the meeting of the World Economic Forum (Davos Forum) 'Strategic Dialogue on the Future of the South Caucasus and Central Asia' on Monday.