First Deputy Prime Minister of the Republic of Kazakhstan Roman Sklyar held a meeting of the Investment Attraction Council, which considered the implementation of important projects in various sectors of the economy.

As part of the discussion on the development of the railway industry, the project ‘Bakhty-Ayagoz’ was considered. It is of strategic importance for improving logistics and investment climate in the region. Highlighting the need for accelerated implementation of the project, the Council decided to refer it to the objects of special regulation for parallel design and construction works. 

The meeting also discussed ways of solving problematic issues raised by investors.

Thus, in the Ulytau region, an enrichment plant for the production of iron concentrate is being built. It is planned to use equipment from Germany and China with innovative sensor enrichment technology. However, due to the high barite content in the mined iron ore, it is impossible to obtain the necessary iron concentrate for further pig iron production. In this regard, a decision was made to replace the investment commitments. 

The Council also familiarised itself with the report of NC Kazakh Invest JSC on the status of implementation of projects of the Kazakh-German working group.

In the bilateral trade turnover between Kazakhstan and Germany is positive dynamics: by 24.7% in 2022, by 41.3% - in 2023. Kazakhstan is among the top 50 trading partners of the Federal Republic of Germany and is a key partner in Central Asia.

Last year also saw a record $770m of investment from Germany in Kazakhstan. 

To date, the total pool of German projects in Kazakhstan includes 63 projects with a total value of about $54.4bn and the creation of 14,700 jobs. At the same time, 32 projects have already been put into operation, providing about 6,000 permanent jobs.

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