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Kazakh region yearly makes $1B from cooperation with foreigners

Business Materials 23 November 2017 14:12 (UTC +04:00)

Baku, Azerbaijan, Nov. 23

By Ali Mustafayev – Trend:

Kazakhstan's Karaganda Region earns $1 billion a year from cooperation with foreign companies. Presently, the region is implementing 20 projects with participation of foreign investors.

“Working with foreign investors allows us to attract investments worth $1 billion annually. We understand that the stability of the economy depends on the development of small and medium businesses," said Yerlan Koshanov, the head of the executive body (akimat) of Karaganda, Kazakh media reported.

"A third of the economically active population of the region works in this segment. The number of entrepreneurs is also growing. The volume of production of small and medium businesses in the region has grown by 20 percent since the beginning of the year.”

He added that the region has also supported 18 projects and created more than 800 new jobs within a business roadmap.

“We have carefully studied the market, the raw materials source, and the demand. We have already prepared 80 projects worth more than 1 trillion tenges which are currently being introduced to potential investors.”

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