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About 300 projects to be implemented in 2018 with the amount of investment of US $6,5 billion

In January-February this year the investments into the fixed capital increased by 54,4 % (+ KZT487,7 billion) as compared to the same period of the previous year, accounting for KZT1,2 trillion  (KZT699,7 billion). That was announced by Vice-Minister for Investment and Development of the Republic of Kazakhstan Arystan Kabikenov, speaking at the briefing.  

“There is the growth of 84,8 % (+ KZT432 billion, amounting to KZT850,9 billion) in investments into the fixed capital in the industry, thus alongside with the mining industry that increased by 94,5 % (+ KZT313,5 billion, amounting to KZT589 billion), there is the growth of 72 % (+ KZT104,3 billion, amounting to KZT221,4 billion) in investments into the processing industry and 159,8 % (+ KZT7,2 billion, amounting to KZT11,4 billion) in construction. The foreign investments for the period of this year accounted for KZT361,5 billion, with an increase of KZT160,3 billion”, - Arystan Kabikenov said.

The targets have been set till 2025 in order to achieve the primary goal on ensuring the planned growth of Gross Domestic Product (in 2018 - 4 + %). The necessary republican growth rate of investments into the fixed capital in 2018 makes up 5,1 %. To implement the tasks set, the work has been stepped up to attract investments and improve the investment climate.

“At present, the Ministry together with “NC “Kazakh Invest” JSC have drawn up the relevant approaches and a core list of 658 investment projects (US $59,2 billion) for 2018-2020. The list included 140 projects with foreign participation (US $43,8 billion), and 518 projects with domestic (Kazakhstan) participation (US $15,4 billion). As a whole, in the current  year, it is planned to put into service 298 projects with the amount of investments of over US $6,5 billion, to start the building and construction works (BCW) of 199 projects worth US $11 billion”, - Vice-Minister said.

The country has drawn up the detailed plan as part of systematic measures on improving the investment climate. The list of the states with visa-free period of stay in Kazakhstan has been expanded up to 61 countries; by the end of 2018 a 72-hour visa-free regime will be introduced for citizens of China who are in transit through the airports of Astana and Almaty cities. Now the issue to introduce the same visa-free regime for citizens of India is under consideration.

«The work on concluding international agreements on encouragement and mutual protection of investments has been improved. I’d like to note that the visit of the Head of the state to the United Arab Emirates resulted in signing of an agreement on encouragement and mutual protection of investments between Governments of the Republic of Kazakhstan and the United Arab Emirates. The draft agreements with more than 20 countries are underway”, - Arystan Kabikenov said, summing up the performance.

A package of legislative initiatives on further improving the investment climate will be drawn up this year.