Prime Minister Olzhas Bektenov chaired a meeting of the Board of Directors of JSC “National Company Kazakh Invest”, which reviewed the implementation progress of the Head of State’s instructions on attracting investment into the national economy.

Chairman of the Management Board Sultangali Kynzhakulov reported on the results of Kazakh Invest’s activities over the first ten months of the current year and submitted proposals for discussion regarding changes to the company’s organizational structure. In particular, he suggested introducing additional positions within the central office and establishing new foreign representative offices.

The Prime Minister rejected the proposed organizational structure, noting a formal approach to its preparation. He emphasized the need for a qualitative restructuring of the company within the existing staff framework. Criticism was expressed regarding excessive bureaucracy and the lack of focus on concrete results.

Olzhas Bektenov underlined that Kazakh Invest must become an effective, flexible, and dynamic instrument for attracting a significant volume of investments into the economy. To achieve this, it is necessary to reorganize internal processes and introduce clear performance indicators for each employee.

The national company is working to build sustainable production chains around anchor investors by supporting Kazakhstani manufacturers.

“This work must be intensified. We need real results. The priority is not beautiful reports, but launched projects and operating enterprises,” Olzhas Bektenov stressed, noting the importance of proactively using the ‘investment order’ mechanism.

This mechanism will help focus resources on developing export-oriented industries in promising sectors such as coal and petrochemicals, agro-industry, and mechanical engineering, among others.

Following the meeting, Kazakh Invest was instructed to finalize the documents presented on the agenda within ten days.

For reference: Between 2022 and 2025, agreements totaling $29.1 billion were signed. In the current year alone, 27 projects with foreign participation worth $1.26 billion have been commissioned, including a ventilation equipment plant in Almaty, a rolling stock production facility in Astana, a wholesale distribution center in Almaty Region, and a 100 MW wind power plant in Ulytau Region, among others.
Currently, 244 projects worth $79.1 billion are in progress across the manufacturing, mechanical engineering, and agro-industrial sectors.

 

#Olzhas Bektenov #Investments #President's instruction

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