NUR-SULTAN (TCA) — Kazakhstan needs to increase the annual gross inflow of foreign direct investment from $24 billion in 2018 to $34 billion by 2025, Prime Minister Askar Mamin said at a meeting of the Coordination Council on Investment Attraction on July 10, the official website of the Prime Minister of Kazakhstan reported.
The meeting discussed institutional and legislative measures to increase investment in fixed assets up to 30% of Kazakhstan’s GDP.
It was emphasized that public-private partnership (PPP) should be an effective tool for attracting investments in the fields of transport and logistics, energy, tourism, modernization of the public utilities infrastructure, healthcare, and education.
Key performance indicators for attracting investments to achieve the target ratio of investment to GDP will be developed for central and local executive bodies.
The meeting also considered the development of a network of wholesale distribution centers. In order to expand the logistics capacity in Kazakhstan in 2020-2023, it is planned to create a network of eight regional distribution centers in the cities of Nur-Sultan, Almaty, Shymkent, Aktobe, Semey, Kokshetau, Atyrau and Aktau. This mechanism is aimed at the early purchase of products from farmers and the formation of the necessary bookmarks with the subsequent sale of products in retail chains at reduced prices during the off-season — from December to April.
As a result of the project implementation, price stability will be ensured, which will eliminate the seasonal speculative markup on socially important food products. The total socio-economic effect of the project from one invested tenge will be over 30 tenge.
Following the meeting of the Coordination Council, a road map was adopted to attract investment in Kazakhstan.
“The development of the economy is directly related to attracting investment. It is necessary to look for new niches, create mechanisms for attracting investments and provide all measures of support,” said Askar Mamin.
