225 billion tenge invested in Nur-Sultan over five months of 2021
Nur-Sultan, Kazakhstan’s capital, is one of the most competitive cities of Eurasia. Nearly 11 trillion tenge have been invested in the metropolis since it gained the new status. The investments volume is growing every year. More than 225 billion tenge has been received since the beginning of this year.
“Every second investment contract in Kazakhstan is accounted for Nur-Sultan city, because the investment climate here is very favorable. Multifaceted work is carried out by the mayor’s office, by the Astana Invest company. Investors receive diverse assistance starting with the search for land, right up to the support of projects,” said Eldar Garifullin, Deputy Chairperson of Astana Invest company.
The highest investment activity is seen in such fields as the real estate, which received more than 93 billion tenge (US$216.8 million); transport – about nine billion (US$20.7 million), wholesale and retail trade – 3.7 billion (US$8.6 million) and education – almost 2,4 billion.
“This year, it is planned to launch 16 investment projects with a total amount of 632 billion tenge and the creation of more than 2,500 jobs. For example, these are private and public schools, designed for a total of nearly 4,000 seats, industrial enterprises and places of public resort,” Garifullin added.
The top three of the most active investors includes Singapore, the United Arab Emirates and Turkey. The latter implements several projects at once. One of them is a shopping and entertainment center of the left bank. It is located on an area of 2.5 hectares and will open next year.
“Since ancient times, the people of Kazakhstan and Turkey have been and still are bound by fraternal ties. Thanks to this, the flow of investments between the countries is growing. However, the growth potential is much greater and needed to be used. There is every opportunity for this. Your country is warm and hospitable. Also, state bodies assist us, helping to resolve any issues,” noted Turkish investor Atilla Atmaca.
Another advantage of running business with Kazakhstan that is beneficial for investors is the country’s participation in the EAEU. It provides access to a 180 million market with a combined GDP of more than US$2 trillion. The favorable conditions for doing business are confirmed by the results of one of the most significant studies in the world. Kazakhstan is in 25th place out of 190 countries in the World Bank’s Ease of Doing Business Ranking, surpassing such developed countries as Spain, France or the Netherlands.
Translation by Saniya Sakenova
Editing by Galiya Khassenkhanova