Kazakhstan, Astana, July 3 / Trend D. Mukhtarov /
Kazakhstan is working on more than 400 investment initiatives to the sum of $20 billion, Minister of Industry and New Technologies Asset Isekeshev said at the Industrial Forum in Astana today.
"For example, negotiations are underway with Toyota on five joint projects in the automotive industry, as well as the chemical industry, agriculture and pharmaceuticals," he said. "The projects on industrial gases are being discussed with French Air Liquid and the projects on the second gas chemical complex with Arab companies."
As a result of the measures taken during two and a half years, direct investments in the manufacturing sector increased by 60 per cent and dropped by 14 per cent in the mining industry. That means the structure of investment flows is being changed.
"At present, Kazakhstan is a leader on investment attractiveness in the CIS," the minister said. "But our competitors are also active. Therefore, we need to constantly improve the investment climate."
In this regard, work is underway to bring the Kazakh system on investment attraction in line with OECD standards. Its experts have prepared several recommendations for Kazakhstan, the minister said.
It is necessary to complete building the infrastructure and to invite the professional management companies, he added.