Kazakhstan – Central Asian leader in foreign direct investment flow
Kazakhstan still takes the lead in Central Asia in terms of attracted foreign direct investment, surpassing other countries of the region by 46 percent on this indicator last year, the country’s Deputy Minister of Foreign Affairs Almas Aidarov said during a meeting of the Government. According to him, investments were mainly directed to the mining and manufacturing industries, trade and construction, as well as financial and insurance activities.
“Over the past five years, our country has been attracting over US$20 billion annually. Overall, the top investing countries in Kazakhstan in 2021 were the Netherlands, USA, Switzerland, Russia, China, Belgium, UK, South Korea, Turkey and France. There is an increase in the volume from all these countries, except France,” said Almas Aidarov, Kazakh Deputy Foreign Minister.
A new concept of investment policy presented at the meeting was approved by the Cabinet of Ministers. It is planned until 2026. By this time, the volume of foreign direct investment in Kazakhstan is expected to reach US$25.5 billion, wherein the focus is placed on the manufacturing industry.
“The state investment policy will be aimed at attracting quality foreign and domestic investment, increasing economic activity and raising the population’s income, by creating new permanent jobs inclusively. The concept of investment policy presented today must ensure the rollout of a new investment cycle, which will become a driver for the development of the economy and rising prosperity of people. It is necessary to expand sources of financing for investment projects in non-primary sectors of the economy,” said Alikhan Smailov, Kazakh Prime Minister.
Translation by Saniya Sakenova
Editing by Galiya Khassenkhanova