Investments in Kazakhstan's Almaty increase by 21%

Finance Materials 29 November 2018 12:02 (UTC +04:00)

Baku, Azerbaijan, Nov. 29

By Rashid Shirinov – Trend:

Over the past 10 years, foreign investments in Kazakhstan's Almaty city amounted to $3.5 billion, the city mayor Bauyrzhan Baibek said at the 6th International Investment Forum Almaty Invest, according to Kazakh media.

He noted that more than 40 memorandums for $1 billion were signed at the previous five forums, of which 12 projects for $400 million were already implemented.

"Almaty is one of the most developed megacities in Central Asia with an economy of $35 billion. Over the past 10 years, $22.2 billion of investments have been attracted, including foreign ones of $3.5 billion. This year, investments have increased by 21 percent," the mayor said.

Baibek also stressed that trade and services account for 86 percent of the city's economy.

"The contribution of small and medium-sized businesses is more than 40 percent, that is, Almaty has a sustainable oil-independent economy," he added.

It is worth noting that more than 500 delegates from around the world take part in Almaty Invest 2018. The guests include well-known politicians, world and Kazakh business leaders, heads of investment corporations, financial institutions and international organizations.


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