Kazakh Foreign Ministry notes increase in contracts with foreign investors during pandemic

Kazakhstan signed 56 investment contracts in 2020. This is the highest figure in the past ten years, noted representative of Kazakh Foreign Ministry Ardak Zebeshev. According to him, Kazakhstan managed to attract a total of over US$17 billion of foreign investments last year. 90 percent of them are accounted for 14 main donor countries, including the Netherlands, Switzerland, Belgium, France, Germany, Italy, the United States, the United Kingdom, Russia, China, South Korea, Turkey, Japan and the United Arab Emirates.

“All these measures are supposed to bring the investment volume in fixed assets to 30 percent of GDP by 2025, and flows of foreign investments to US$30 billion, in accordance with the national development plan of the country as well as roadmap of the election program of the Nur Otan party. Despite the current situation all over the world, we keep conducting an active work on attracting high-quality foreign investments to our country. Many investment projects are being implemented due to the task set for the next five years,” said Ardak Zebeshev, Acting Chairperson of the Investment Committee at Kazakh Foreign Ministry.

More than 40 investment projects were implemented in the country last year. Among them are the construction of an airport in Turkistan region, a hotel complex in Aktau, a greenhouse in Aktobe region and a solar power plant in Zhambyl region. At the same time, the share of foreign participation in the operation of these projects amounted to over US$1.5 billion.

Translation by Saniya Sakenova

Editing by Galiya Khassenkhanova