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Kazakhstan taking targeted measures to enhance investment competitiveness

Business Materials 26 January 2021 16:26
Kazakhstan taking targeted measures to enhance investment competitiveness

BAKU, Azerbaijan, Jan. 26

By Nargiz Sadikhova - Trend:

Kazakhstan is taking targeted measures to enhance investment competitiveness against the backdrop of increasing global competition for investment, Kazakhstan’s Prime Minister Askar Mamin said, Trend reports citing the press office of the government.

Mamin made the statement during an expanded meeting of the government chaired by the President of Kazakhstan Kassym Jomart Tokayev.

Mamin noted that thus, Kazakhstan will focus on proactive and targeted investment attraction. The government has formed a pool of projects worth 47 trillion tenge ($111.9 million). The large projects included in this pool will be used to conclude strategic investment agreements.

Direct work will be carried out with each strategic investor at every stage of the value chain. The stability of legislation will be ensured and work will continue to improve private partnership projects system.

Some 65 country investment programs were developed within the framework of intensifying economic diplomacy. These programs include a list of targeted companies and industries. This will allow foreign missions to work on a proactive basis to attract foreign direct investment.

The strategic task of Kazakhstan is to attract foreign investments in the amount of $19 billion this year and to increase the volume to $30 billion by 2025. This is expected to ensure the level of investment in fixed assets at the level of 20 percent of GDP in 2021 and 30 percent by 2025.

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