Nearly 60 investment projects to be launched in Kazakhstan's Almaty

Business Materials 29 November 2019 18:11 (UTC +04:00)
Nearly 60 investment projects to be launched in Kazakhstan's Almaty

BAKU, Azerbaijan, Nov.29

By Nargiz Sadikhova - Trend:

Some 58 investment projects will be implemented in Kazakhstan’s Almaty city, Head of Kazakhstan’s Almaty city Bakytzhan Sagintayev said, Trend reports with reference to Kazakh media.

According to Sagintayev, based on the results of the World Bank’s Doing Business rating, Almaty was first among Kazakhstan’s region, thus gaining the status of the most favorable Kazakhstan city for doing business.

“Another important point: in September this year, Fitch assigned our city a credit rating of “BBB”, which means a low level of risk for investments and opens up opportunities for the city to attract long-term funding,” Sagintayev said.

The head of the city also said that in order to attract major investors the work of Almaty Socio-Entrepreneurial Corporation has been reformed by adding an Almaty Invest company to its structure.

“Currently some 58 investment projects worth $7.5 billion are in the works. We need to get on the map of global investment radars. Recently held investment forum in Almaty has displayed high investors interest to our city and its development plans. We are actively working in this direction,” the head of the city said.

Thus, some 700 representative of business participated in the Almaty Investment Forum 2019 held in the city on November 27, 2019.

Furthermore, some 30 memorandums on cooperation and understanding worth $2.3 billion were signed following the end of the forum.


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