Industry leads in attracting investments into Kazakhstan’s Aktobe region

Kazakhstan Materials 2 August 2023 07:30 (UTC +04:00)
Madina Usmanova
Madina Usmanova
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ASTANA, Kazakhstan, August 2. Investments in the fixed capital of the Aktobe region in the western part of Kazakhstan reached 354.9 billion tenge ($797.738 million) from January through June 2023, Kuandyk Kassymov, the head of the Department of Industrial and Innovative Development said, Trend reports.

The announcement was made during a meeting of the regional investment board at the regional administration.

He highlighted that the industrial sector took the lead in attracting investments, constituting 75 percent of the total investment volume among various industries. When considering the districts, Chromtau and Temirtau districts showed positive dynamics.

During the meeting, Eraly Tugzhanov, the head of a regional government, emphasized the importance of attracting investments for the economic development of the region.

"At a meeting focused on socio-economic development, the president of Kazakhstan directly instructed us to increase our efforts in attracting investments. The region's economic growth and the well-being of its residents greatly rely on attracting investments. Therefore, it is crucial for the districts and the city of Aktobe to work towards meeting the set targets," he said.

In the Aktobe region, there are 104 investment projects valued at 6.7 trillion tenge ($15.060 billion). These projects aim to meet the targets set by the government. By 2027, these projects are projected to create over 17,000 job opportunities. The majority of these projects are focused on the mining and metallurgical, petrochemical, and energy sectors.