Kazakhstan plans to attract at least $24.4 billion of foreign investment in 2023


ASTANA — Kazakhstan Prime Minister Alikhan Smailov held a meeting of the Investment HQ on January 28, where the results of last year’s capital investment and foreign direct investment attraction and tasks for the forthcoming period were discussed, his press service reported.

At the meeting, Deputy Minister of National Economy Ilyas Usserov reported that the volume of investments in fixed capital for 2022 amounted to 15.1 trillion tenge (94.2% of the annual plan), which is 7.9% more as compared to 2021. Growth was recorded in areas such as real estate operations, mining, agriculture, transport and warehousing.

Speaking on the attraction of foreign direct investments, Deputy Minister of Foreign Affairs Almas Aidarov said that their inflow for the first nine months of 2022 amounted to $22.1 billion, which is 17.8% more than for the same period of 2021. In particular, 46 investment projects with foreign participation were commissioned in such sectors as mechanical engineering, renewable energy, metallurgy, and agro-industrial sector.

The top 10 investor countries in Kazakhstan are the Netherlands, USA, Switzerland, Belgium, Russia, South Korea, China, France, Great Britain, and Turkey.

The Prime Minister said that in 2023 the task is to attract at least $24.4 billion of foreign investment into the economy, for which the Government has created all the necessary conditions.

“The Ministry of Foreign Affairs, together with the national company Kazakh Invest and the regions should work proactively in this direction. Cooperation with Kazakhstan foreign institutions should also be strengthened to achieve the targets set,” he said.