BAKU, Azerbaijan, Apr.8
By Nargiz Sadikhova - Trend:
A number of projects in Kazakhstan’s priority sectors of the economy will be implemented in 2020, Trend reports with reference to the press office of Kazakhstan’s Kazakh Invest National Company.
“According to UNCTAD forecasts, the coronavirus pandemic in 2020 could cause economy and foreign direct investment to shrink significantly, particularly in the developing countries. The developed countries have been intensifying their proactive policies and launching unprecedentedly 'generous' packages to stimulate domestic demand by pouring money into the economy,” the company said.
To date, the monitoring system of Kazakh Invest covers 172 investment projects worth $46.5 billion at the development stage. The projects are expected to create about 58,000 jobs.
“In general, these projects cover such priority sectors of the economy as agribusiness, light industry, mining and metallurgy, machinery building, petrochemicals, renewable energy and logistics,” the company said.
The company added that projects for construction of greenhouse complexes as well as meat processing, animal feed production, industrial gases production, mining and metallurgy, solar power and other plants are planned for commissioning already in 2020.
“At the same time, construction of large projects involving TNCs, such as production and processing of potatoes, production of soda ash, high-quality lime, fruit processing and greenhouse complex on 1000 hectares is expected to commence this year,” the company said.
The company added that volume of foreign direct investment might be reduced in 2020.
“Nevertheless, considering the work already carried out, agreements reached, trends in the global economy and measures introduced by Kazakhstan’s government, Kazakh Invest experts expect that industries, such as manufacturing, food production, light industry, pharmaceuticals, ICT, domestic tourism, as well as logistics and warehousing will remain attractive for investors in 2020,” the analysis said.
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