ASTANA, Kazakhstan, November 27. The total volume of direct Russian investments in Kazakhstan has reached nearly $25 billion, President Kassym-Jomart Tokayev announced during the 20th Forum of Interregional Cooperation between Kazakhstan and Russia, Trend reports.
"Annual investment inflows have grown significantly, doubling last year to $3 billion. Kazakhstan is now home to 23,000 Russian and joint ventures, which account for nearly half of all foreign-invested enterprises in the country," Tokayev said.
He highlighted that cooperation in the fuel and energy sector between Kazakhstan and Russia has reached a new level.
"In partnership with Lukoil, we’ve begun developing the major offshore field 'Kalamkas-Sea – Khazar,' with investment in the project exceeding $6 billion. Russian partners are also actively involved in oil and gas chemical projects. In 2022, we launched Central Asia’s largest polypropylene plant in collaboration with Sibur. With a production capacity of 500,000 tons per year, the facility supplies raw materials to Kazakh processors and exports products to Russia, China, Türkiye, and other countries," Tokayev added.