Government invites foreign investors to Kazakhstan

The country’s prime minister has invited foreign business to play a more active role in Kazakhstan’s economy

The Republic of Kazakhstan guarantees the protection of foreign investors’ interests and invites them to sign new investing contracts in the country, the Interfax Kazakhstan news agency reported citing Prime Minister Alikhan Smailov.

“The government invites foreign investors to sign investing contracts and take part in investment projects. We can guarantee that investors’ interests will be taken into account to the maximal reasonable extent. Given the uncertainty in the global economy, we are inviting all investors to put their money into Kazakhstan,” he said at Astana Finance Days 2022.

According to Smailov, the annual commodity circulation in Kazakhstan is about $100 billion. The country accounts for 53% of turnover in the region.

“In 2021, the total inflow of foreign investments reached $24 billion, which is 38% higher than the previous year. Last year only 28% of foreign investments were put into the oil and gas industry while over 2018-2019 this rate was about 50%. This means that Kazakhstan is doing quite well in the diversification of its national economy,” he said.

So far, the country has offered about 200 investment projects to foreign investors. The vast majority of them are supposed to be implemented in conjunction with local partners.

The official goal of the government is to make the inflow of direct foreign investments into Kazakhstan reach $25.5 billion. This figure is written in the Concept of Investing Policy of Kazakhstan that was adopted on June 23.  

Follow us on Google News
Related Materials