ASTANA, Kazakhstan, March 13. Kazakhstan plans to attract at least $150 billion of foreign investment by 2029, said Prime Minister of Kazakhstan Oljas Bektenov during a meeting of the Board of Directors of Kazakh Invest JSC (Kazakhstan's national company), Trend reports.
"President of Kazakhstan Kassym-Jomart Tokayev has set the task of increasing the volume of the economy to $450 billion by 2029. During this period, it is necessary to attract at least $150 billion in foreign investment. In this regard, every effort must be made to find and attract large investors to our country. Bold and innovative solutions are needed," he said.
In addition, during the meeting, it was noted that currently, Kazakh Invest is supporting 200 projects worth $27.3 billion with the creation of 68,800 jobs. This year, more than 40 projects with foreign participation are expected to be launched.
One of the most significant is the enterprise for the production of medical equipment by the American company GE Healthcare in Astana. As part of the project, the production of ultrasound and CT scan devices will be localized.
Along with this, the Swiss company Roche will launch the production of anticancer drugs in Almaty, with the further prospect of exporting.
Moreover, the Austrian company Lasselsberger is localizing the production of ceramic tiles, dry building mixtures, and construction adhesives in Astana. The opening of a new plant will create more than 200 jobs and reduce the import dependence of the Kazakh market for these products.
Meanwhile, last year, the volume of investments in fixed capital in Kazakhstan increased by 13.7 percent and amounted to $39.5 billion, while over the first nine months of 2023, $19.7 billion of foreign direct investment was attracted.
In addition, foreign trade turnover increased by 2.2 percent and amounted to $126 billion; the positive trade balance exceeded $16 billion.