Investments to GDP ratio to increase to 30% in Kazakhstan

Business Materials 15 July 2019 16:33 (UTC +04:00)

Baku, Azerbaijan, July 15

By Nargiz Sadikhova - Trend:

The economy growth rate of Kazakhstan increased from 2.9 percent to 4.1 percent in 1H2019, Trend reports with reference to the press-office of prime minister of Kazakhstan.

Prime Minister of the country Askar Mamin stated that the attraction of investments is the key for sustainable development of economy and creation of productive work places.

“Our goal is to increase investments to the fixed capital by 20 percent a year and for the investment to GDP ratio is to become 30 percent in 2025,” said Mamin, having stated that this year investments to the fixed capital increased by 11.7 percent, including 13 percent growth of private investments.

“In order to reach the target parameters investments worth 30 trillion tenge should be attracted, over the course of five years,” he added.

He further stated that the pool of the projects worth 12.4 trillion tenge has been selected already.

“Thus, on average we need to attract three trillion tenge of investments a year. The annual value of foreign direct investments should be increased from $24 billion to $34 billion in 2025,” Mamin noted.

Prime minister also stated that the attractive environment for foreign and local investors will provide for harnessing the potential of Astana International Financial Centre via using English law, designing projects and co-financing.

Target indicators will be created for each central and regional executive body and national holding.

The coordinating council on investments attraction will oversee the realization of all investments projects.

(1 USD = 383.94 KTZ on July 15)


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