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Baurzhan Sartbayev is appointed Chairman of the Board of NC Kazakh Invest JSC

By the decision of the Board of Directors of NC Kazakh Invest JSC, Baurzhan Sartbayev is appointed the Chairman of the Board of the National Company. The Deputy Minister of Foreign Affairs Yermek Kosherbayev introduced the new head to the team of the Company.

The Deputy Minister noted that in the light of the past Coordination Board on Investment Attraction, chaired by the Prime Minister of the Republic of Kazakhstan Askar Mamin, several relevant objectives and goals have been set for the Company and the newly appointed head of Kazakh Invest, including increasing the annual gross inflows of foreign direct investment in Kazakhstan from USD24 billion in 2018, up to USD34 billion by 2025.

The Prime Minister of the Republic of Kazakhstan, Askar Mamin instructed to intensify the work with national and foreign investors, as well as international financial organizations, to attract investments in the country's economy and search for new large-scale projects.

“The new manager has extensive experience working with foreign companies. Baurzhan Sartbayev held senior positions in a number of commercial structures for many years. I think that the accumulated experience will make it possible to find new niches and significantly improve the targeting of foreign investors”, said Ermek Kosherbayev.

The Deputy Minister of Foreign Affairs Yermek Kosherbayev also noted the merits of the previous head of the company. “Saparbek Tuyakbayev was directly involved in the creation of this Company. He managed to establish a mechanism for attracting and working with investors. Last year alone, 27 projects worth USD 3.1 billion were implemented with the support of Kazakh Invest. This year, another 30 projects are being implemented. This indicator needs to be improved from year to year”, the Deputy Minister said.

It should be noted that as part of the Coordinating Board on the issues of investment attracting, they also discussed the institutional and legislative measures to increase the volume of investments into the fixed capital up to 30% of Kazakhstan’s GDP.