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During the period of independence, Kazakhstan attracted USD330 billion of foreign investment from 120 countries

Today at the press conference in the Government of the Republic of Kazakhstan, the Deputy Prime Minister of the Republic of Kazakhstan, Zhenis Kassymbek, spoke about the progress in implementing the investment policy of Kazakhstan.

The Deputy Prime Minister noted that in the Address of the Head of State the task of attracting of foreign investment in the non-primary sector is among the main priorities.

“During the period of independence, Kazakhstan attracted USD330 billion of foreign investments from more than 120 countries. The bulk of investments - more than 50% - accounts for the countries of the European Union, including: Switzerland - 25.8 billion, France - 16.1 billion, Italy - 8.7 billion, the Netherlands - 90.4 billion, Belgium - 7.6 billion, Germany - 5.2 billion. The United States accounts for 15% of foreign direct investment or 48.4 billion. About 5% accounts for the investments from the UK and China,” said Zhenis Kassymbek.

As of August 1, Kazakhstan has 19,000 legal entities and branches with foreign participation, including 35.3% are enterprises with Russian, 9.5% with Turkish 5.7% with Uzbek, 5.6% with Chinese, 3.1% - with German participation.

Since 2010, Kazakhstan authorized agencies for foreign investment considered about 650 projects. Of these, projects proposed by investors from the European Union countries - 185, the Russian Federation - 111, Turkey - 80 and China - 55 projects, etc. Of the proposed projects, priority is given to high-tech projects that ensure a transfer of modern technology, with high Kazakhstan content as well as maximum job creation for citizens of the Republic of Kazakhstan. During this period, 235 projects were implemented in the amount of USD16.2 billion (other projects are under consideration), including 133 projects were implemented jointly with countries of the European Union and the Russian Federation.

“In the conditions of global instability and sanctions confrontation, investors choose countries with a stable investment climate. Each country tends to increase its investment rating, as not only capitals come to the country, but also new modern technologies,” said the Deputy Prime Minister of Kazakhstan.

China, being one of many investors, funded and implemented 15 projects, which is about 6% of the total number of projects implemented since 2010.

The list of joint Kazakhstan-Chinese projects in the field of industrialization and investment currently includes 55 projects totaling USD27.6 billion.

Since 2015 to the present moment, 15 projects have been launched totaling USD3.9 billion. Projects are being implemented in high-tech sectors of the economy: mechanical engineering, chemical industry, energy, alternative energy and agribusiness. 3828 Kazakhstan jobs were created.

“All of these projects in various regions of the country use modern technology, are export-oriented, and create jobs for Kazakhstan people. This is not about transferring any existing plants, but about technology transfer. As a result of the implementation of the Kazakhstan-Chinese program of industrial and investment cooperation, it is expected to create a number of high-tech enterprises capable of producing high-quality domestic products with high added value, oriented to export to foreign markets, while creating about 20,000 new jobs,” Zhenis Kassymbek summarized.