Kazakhstan attracted $330 billion of foreign investment since independence

NUR-SULTAN (TCA) — During the period of Kazakhstan’s independence (since 1991), the country has attracted $330 billion of foreign investments from more than 120 countries, the Deputy Prime Minister Zhenis Kassymbek said at a press conference on September 5, the press service of the Prime Minister of Kazakhstan 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,” said Kassymbek.

As of August 1, 2019, Kazakhstan had 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, and 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 totaled 185, the Russian Federation — 111, Turkey — 80, and China — 55. 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 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 the Russian Federation.

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

Sergey Kwan