Alikhan Smailov holds Investment Headquarters meeting

Prime Minister Alikhan Smailov held a regular meeting of the Investment Headquarters at the Digital Office of the Government on Saturday, Sept. 10, where the rates of target indicators for investment in fixed capital and attraction of foreign direct investment, as well as a number of other issues, were considered.

Minister of National Economy Alibek Kuantyrov said that the volume of investments in fixed assets amounted to 6.9 trillion tenge by the end of 7 months of this year. Significant growth was observed in such sectors as real estate operations, mining and oil production, transport and storage, agriculture, forestry and fisheries, energy and manufacturing.

Prime Minister stressed that there has been a positive dynamics of investment in fixed assets at the level of 4.5% this year, while 12 regions have failed to meet the set targets. The city of Shymkent, Turkestan and Ulytau regions have the lowest indicators.

"Large companies are ready to invest in production and create new jobs. We just need to work with them, conclude investment contracts, for new projects to give guarantees of tax legislation stability. Heads of regions and state bodies need to intensify this work," Alikhan Smailov noted.

In turn, Deputy Minister of Foreign Affairs Almas Aidarov reported that during the first quarter of 2022 the country attracted $6.8 billion of direct foreign investment.

The top ten investing countries during this period included the Netherlands, USA, Switzerland, Russia, China, South Korea, Belgium, Britain, France and Turkey.

The nationwide pool of investment projects contains 797 projects worth 30.2 trillion tenge in such sectors as the chemical industry, metallurgical industry, energy, transport and logistics, food industry, tourism, information and communication technologies, oil and gas industry, agriculture and so on.

Full implementation of the pool projects will create about 130 thousand jobs. In 2022 it is planned to launch 272 projects on 2,98 trillion tenge with creation of 24 thousand workplaces.

In addition, the work on relocation of foreign companies to Kazakhstan is currently underway. Thus, substantive talks on localization of production in our country are held with 51 out of 310 target companies. Among them are Youngsan, EMAG, Carlsberg, Fortescue and others. At the stage of preliminary negotiations are companies Canon, Kronospan, Alstom, Haier and others.

Prime Minister noted that the first quarter recorded a positive trend in inflow of foreign direct investment by 54%.

"At the same time, we now have a window of opportunity associated with the desire of a number of investors to relocate their production facilities. Ministers and Akims should make every effort to promptly solve the issues arising in this direction," Alikhan Smailov said.

Summing up the meeting, the Prime Minister said that state agencies and akims should take comprehensive measures to launch all planned investment projects.

"We now need to lay a solid foundation for the coming years, so that there is a good dynamics of investment. This is very important in terms of creating jobs and diversifying our economy. The corresponding work should be carried out in each region," Alikhan Smailov concluded.

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