BAKU, Azerbaijan, Feb. 28
By Nargiz Sadikhova – Trend:
The trend of diversifying the economy of Kazakhstan has been outlined even before the COVID-19 pandemic and continues to this day, Deputy Chairman of the Management Board of Kazakh Invest National Company JSC Zhandos Temirgali said in an interview with Trend.
Commenting on how the direction of foreign direct investment (FDI) inflows to Kazakhstan has changed compared to the pre-pandemic period, he noted the lion's share of investments kept accounting for the extractive sector.
"In general, the economic structure of Kazakhstan is somewhat similar to the structure of the Azerbaijani economy, and, of course, the lion's share of investments falls on the mining sector," Temirgali said.
Meanwhile, he noted, following the results of the pandemic period, the structure of investments or the investment inflows had not changed that much.
"But there is a general trend towards an increase in the share of processing industries. If we take it globally, over the past few years we have seen a growing interest of foreign investors in the processing sector, in particular in the food industry, petrochemical industry, chemical industry, engineering industry, and so on. Totally, the state has a clear understanding of the need to diversify the economy, and this trend, which has been outlined even before the pandemic, is still going on,” Temirgali stressed.
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