BISHKEK, Kyrgyzstan, December 25. Kazakhstan's investment in Kyrgyzstan reached $658 million across nine active projects by the end of the first half of 2023, Trend reports.
According to Eurasian Development Bank data, Kazakhstan's most significant project in Kyrgyzstan is the Bozymchak copper and gold open pit mine held by Kaz Minerals. The total investment in the mining is $350 million.
Another significant initiative involves a $113 million stake in Sky Mobile controlled by the Kazakh investment firm Verny Capital.
Kyrgyzstan is Kazakhstan's second-largest Eurasian investment partner. However, there are no big investment initiatives from Kyrgyzstan in Kazakhstan. Kazakhstan is the primary investor in the Russian economy within the Eurasian region.
According to the bank, Central Asian countries are implementing 27 major investment projects involving mutual investments. As of mid-2023, the cumulative volume of accumulated mutual FDI in the region reached $1.1 billion, which is a 1.8-times increase compared to 2016.
The primary investors in the region are Kazakhstan and Uzbekistan. Kazakhstan accounts for about 87 percent of investments, while Uzbekistan holds 13 percent.
Meanwhile, Kyrgyzstan is the main recipient of investments in the region, representing 63 percent, half of which is allocated to projects in the extraction sector.