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Kazakhstan attracts $250B in direct foreign investment within 10 years

28 September 2018 [18:00] - TODAY.AZ

By  Trend


Over the past 10 years, about $ 250 billion of direct foreign investment has been attracted to various sectors of the economy of Kazakhstan, the Prime Minister of Kazakhstan Bakytzhan Sagintayev said when opening the work of the "High-level forum on advancing trade and investment facilitation for development: "A Eurasian perspective"”, "Kazinform" reported Sept. 28.

He noted that improvement of the investment climate is a priority for the Republic of Kazakhstan. Last year, the inflow of direct foreign investment amounted to about $21 billion, and a quarter of this amount was allocated to the manufacturing industry.

The prime minister also noted that about 50 percent of all foreign investments have been allocated to non-oil sectors.

"The momentum has continued in the current year: for the first half of this year, the agreements have been reached on the implementation of 69 new projects with major investors, including ten multinational companies from China, Turkey, USA, UAE, UK and the EU countries", Sagintayev said.

The prime minister informed the forum participants that such international companies as Toyota, Heidelberger, Alstom are already operating in Kazakhstan.

"Our country ranks first in terms of the investment climate in Central Asia and more than 70 percent of investments in Central Asia fall to the share of Kazakhstan," Bakytzhan Sagintayev said.

The head of the government noted that in order to improve the investment climate in Kazakhstan, the reforms are consistently carried out, the open dialogue and interaction with investors is provided, and the infrastructure for attracting investments is being improved.

"I will cite just one figure - over the past four years, 52 reforms have been carried out in such areas as tax and customs spheres, state support for entrepreneurship. So, on average, 13 reforms have been implemented in one year," Bakytzhan Sagintayev said.

The international "High-level forum on advancing trade and investment facilitation for development: "A Eurasian perspective"” has started in Astana.

This forum is held by Kazakhstan in partnership with the WTO group entitled as "Friends of Investment Facilitation for Development", which includes 17 developing and most developed WTO member countries, in particular Argentina, Brazil, China, Qatar, the Republic of Korea, Mexico, Nigeria and others.

URL: http://www.today.az/news/regions/174354.html

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