Life in Rural Kyrgyzstan
Kazakhstan|economy|September 5, 2019 / 04:59 PM
$330 billion invested in economy of Kazakhstan from 120 countries over period of independence

AKIPRESS.COM - Deputy Prime Minister of Kazakhstan Jenis Kasymbek today said $330 billion foreign investments from more than 120 countries have been attracted in Kazakhstan over the period of its independence, the government's press service reported.

“The bulk of investments — more than 50% — falls on the countries of the European Union, including: Switzerland — 25.8 billion, France — 16.1 billion, Italy — 8.7 billion, the Netherlands — 90.4 billion, Belgium — 7.6 billion, Germany — 5.2 billion. The United States accounts for 15% of foreign direct investment or 48.4 billion. About 5% is made up of investments from the UK and China,” Kasymbek told a press conference.

As of Aug. 1, Kazakhstan has 19 thousand legal entities and branches with foreign participation, of which 35.3% are enterprises with Russian, 9.5% — with Turkish, 5.7% — with Uzbek, 5.6% — with Chinese, 3.1% — with German participation.

Since 2010, Kazakhstani authorized bodies for foreign investment have considered about 650 projects. Of these, projects proposed by investors from European Union countries — 185, the Russian Federation — 111, Turkey — 80 and China — 55 projects, etc. Of the proposed projects, priority is given to high-tech projects that provide a transfer of modern technology, with high Kazakhstan content and ensure maximum job creation for citizens of the Republic of Kazakhstan. During this period, 235 projects were implemented for $16.2 billion (other projects are under consideration), of which 133 projects were implemented with countries of the European Union and Russia.

“In the conditions of global instability and sanctions confrontation, investors choose countries with a stable investment climate. Each country seeks to increase its investment rating, as not only capitals come to the country, but also new modern technologies,” the Vice PM said.

China, being one of many investors, has funded and implemented 15 projects, which is about 6% of the total number of projects implemented since 2010.

To date, the list of joint Kazakh-Chinese projects in the field of industrialization and investment includes 55 projects totaling $27.6 billion.

From 2015 to the present moment, 15 projects have been launched for a total of $3.9 billion. Projects are being implemented in high-tech sectors of the economy: mechanical engineering, chemical industry, energy, alternative energy and agribusiness. 3,828 jobs were created.

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