BAKU, Azerbaijan, Nov. 25
Trend:
The volume of investments in Kazakhstan has grown by 43.3 percent since early 2021, the country’s Minister of Trade and Integration Bakhyt Sultanov said during the Government Hour in the Senate of the Parliament, Trend reports.
According to Sultanov, domestic trade turnover for 10 months of this year amounted to 32.9 trillion tenge ($76 billion) and rose on annual basis by 17.5 percent, and the volume of attracted investments has also risen - by 43.3 percent compared to nine months of 2020.
“In order to systematically solve the problem of self-provision with socially significant food products, the creation of the National Commodity Distribution System in the form of an infrastructure of a network of 24 wholesale distribution centers (WDCs) was initiated,” he noted. “This will allow us to comprehensively solve the interrelated problems arising in the chain from production to sale and will ultimately lead to the formation of an integral trade infrastructure.”
“Today, within the framework of the first stage, work has begun on seven WDCs. The construction of the rest of the WDCs is planned to be completed in 2024. In general, according to the results of the project, the economic effect will make up nearly 1.5 trillion tenge ($3.5 billion). Investments in the amount of 152 billion tenge ($350 million) will be attracted and roughly 12,000 jobs will be created," the minister further said.
Besides, according to him, non-stationary trade facilities will also be modernized. Presently, out of more than 500 universal trading markets, 103 require modernization. The measures taken will improve the level of civilized trade and business culture, improve tax administration and reduce shadow trade.