Kazakhstan seeks to attract more foreign investments

Baku, Azerbaijan, Feb.14

By Nigar Guliyeva - Trend:

This year, a proactive approach will be strengthened to attract investments to Kazakhstan, Zhenis Kasymbek, Minister for Investments and Development said addressing the ministry's meeting on Feb.14.

Presently, development of the investment brand of Kazakhstan is being completed, he noted.

"An information and monitoring system will be put into commercial operation. In addition, it is planned to hold a large international investment forum in Astana this May, which will expand opportunities to attract investments to our country," the minister said.

He further stressed that Kazakhstan also actively cooperates with its economic partners.

"Work continues on 51 Kazakh-Chinese projects in the industrial sphere. Four projects have been launched, we plan to put into operation six projects worth $ 363 million this year and start construction work on five projects worth $623 million this year. Overall, the total number is 51 projects for more than $27 billion," he said.

The minister further stressed that Kazakhstan exports products of its refining sector to 122 countries, the minister said.

"Kazakhstan ranks the 53rd among the largest exporting countries. Kazakh products of the refining sector are exported to 122 countries. During the 11 months of last year, exports increased by 31, 6 percent, which amounted to $43.1 billion. Import increased by 15.8 percent. We export 50 percent of our production to the European Union, 12 percent- China and 5 percent - the countries of Central Asia. We are world leaders in the supply of uranium, copper, titanium, ferroalloys, flour, wheat and other products," he said.

During first nine months of 2017, the volume of foreign direct investment in Kazakhstan amounted to $15 billion, Minister of National Economy Timur Suleymanov said earlier.

Foreign investment in the economy of Kazakhstan increased by 5.3 percent compared to the first nine months of 2016.

The most attractive investor countries for Kazakhstan are the US, Russia, China, Germany, France and other countries. The list of countries-investors included 36 states.

In 2017, the total exports increased by 31.6 percent and amounted to $43.1 billion. The increase in foreign trade turnover compared to 2016 amounted to 25.1 percent. In monetary terms, the indicator of 2017 amounted to $69.5 billion compared to $55.5 billion in 2016.

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