The Prime Minister of Kazakhstan

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In Kazakhstan, 145 investment projects implemented for a total of $47.8 billion

27 February 2018, 11:28
Astana
Photo: primeminister.kz

At the meeting of the Government chaired by the Prime Minister Bakytzhan Sagintayev, the Minister for Investments and Development, Zhenis Kassymbek, and First Vice Minister of Foreign Affairs, Mukhtar Tleuberdi reported on the issues of attracting foreign investments.

According to Zhenis Kassymbek, by the results of 9 months of 2017 the volume of gross inflow of direct foreign investments amounted to $15.8 billion, which is 5.3% higher compared to the same period in 2016.

The Ministry for Investments and Development together with Kazakh Invest JSC formed a basic list of 145 investment projects under implementation for a total of $47.8 billion, which included projects within all country cooperation programs, including Kazakh-Chinese, Kazakh-Turkish and other investment projects.

Within the framework of the Kazakh-Chinese cooperation, 51 projects are being implemented for a total of $27.7 billion, of which 4 projects have been commissioned for a total of $140 million. This year, construction of 5 projects involving Chinese capital with an investment volume of $623 million will begin. The Kazakh-Turkish cooperation program ("New Synergy") consists of 26 projects. This year it is expected to build 2 projects for a total of $15.5 million. Other investment projects implemented under the agreements of the Head of State concluded at the foreign visits are also included in the base list.

In total, out of 145 projects this year it is planned to start construction of 15 projects worth $1.6 billion. In the long term, the list will include projects that will attract funds from international financial institutions, including PPP projects.

This year the MID RK passes to the active phase of the implementation of the National Investment Strategy. For 2018, 45 events are scheduled for execution.

"The issues of attracting investments are one of the main priorities of the ministry's work and are always under constant control," Zhenis Kassymbek concluded.

According to the First Deputy Minister of Foreign Affairs, Mukhtar Tleuberdi, assistance in attracting foreign investment and innovative technologies to priority sectors of the economy, as well as promoting domestic export products is a key element of Kazakhstan's foreign economic policy and one of the fundamental priorities of trade and economic diplomacy.

As M. Tleuberdi reminded, the Head of State pays special attention to the development of economic diplomacy. Almost all official visits abroad envisage its separate meetings with the foreign business community, and commercial agreements are concluded. So, within the framework of the visits of the President in 2016-2017. investment and trade agreements worth over $6 billion were signed. Following the official visit of the Head of State to the United States in January 2018, 27 documents were signed for the amount of about $7 billion.

To strengthen the work on attracting investments at the external level, work is under way to deploy investment advisers from the Ministry of Investment and Development in 10 priority countries to target investors.

Foreign institutions of the Republic of Kazakhstan jointly with foreign representatives of Kazakh Invest NC regularly conduct activities to strengthen investment cooperation with the foreign business community.

"In general, foreign economic guidelines, outlined by the country's leadership, are laid down as defining throughout the entire spectrum of activities of the MFA RK. The foreign policy department, especially in promoting economic diplomacy, attracting foreign investment, acts as an important link between internal mechanisms and external partners. This multifaceted work will be continued," Mukhtar Tleuberdi summed up.

 



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