Kazakhstan approves investment projects to up fixed assets funding

Business Materials 8 June 2020 13:56 (UTC +04:00)
Kazakhstan approves investment projects to up fixed assets funding

BAKU, Azerbaijan, Jun. 8

By Nargiz Sadikhova - Trend:

Over 2,000 investment projects worth 44 trillion tenge ($110.09 billion) will be implemented in Kazakhstan over the course of next five years, Kazakhstan’s Minister of National Economy Ruslan Dalenov said, Trend reports with reference to the ministry.

“The ambitious goal was set to increase the level of investment in country’s GDP to 30 percent this year, while it was 18.2 percent in 2019. Investments are the key to sustainable and high-quality economic growth,” Dalenov said.

“Fundamentally new approaches to work to attract investment in a new reality have been identified in order to accomplish this task," Dalenov said. "The issues of ensuring stability of conditions for strategic investments in priority sectors of the economy are being worked out."

Potential of Kazakhstan’s Astana International Financial Center (AIFC) is to be actively used to attract investments, the minister added.

“A pool of investment projects has been formed for the next five years. The pool consists of more than 2,000 investment projects worth 44 trillion tenge,” Dalenov said.

He emphasized that the ministry conducts monthly monitoring of the achievement of target indicators on investments in fixed assets.

“Proactive work continues with central and local executive bodies to quickly solve problematic issues within the Coordination Council for Attracting Investments,” Dalenov noted.

Investments in Kazakh fixed assets grew by 8.5 percent in 2019. The results of first four months of 2020 show that the investments in fixed assets increased by 0.9 percent.


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