Baku, Azerbaijan, Dec. 4
By Rashid Shirinov – Trend:
Construction of a plant for cable and transformer production and a logistics project with Azerbaijani capital are being implemented in Kazakhstan, Erik Yakubayev, Managing Director of the Kazakh Invest National Company, told Trend.
Kazakh Invest supports the implementation of both projects totaling $510 million.
"These projects are aimed at the development of priority sectors of the economy of Kazakhstan, such as logistics and engineering," Yakubayev said, adding that Azerbaijan and Kazakhstan have great prospects for investment cooperation.
The managing director of the company also noted that over the past 12 years, the inflow of foreign direct investment from Azerbaijan to Kazakhstan amounted to $228.9 million, while Kazakhstan invested about $39.2 million in the economy of Azerbaijan.
"In the first half of 2018, the gross inflow of foreign direct investment from Azerbaijan to Kazakhstan amounted to $1.8 million, which is 3.5 times more compared to the same period in 2017," Yakubayev added.
He also said that as of November 1, 2018, there are 1,007 legal entities, branches and representative offices with Azerbaijani capital in Kazakhstan, of which 569 are active.
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