Foreign investments create 6,000 jobs in Kazakhstan since beginning of 2018, 4,000 more expected by year’s end

NUR-SULTAN – Fifty-seven projects with foreign capital and worth $5.1 billion will have created more than 10,000 jobs in Kazakhstan by the year’s end, said Kazakh Invest Deputy Chairman Rustam Issatayev at a press conference in the capital.

Rustam Issatayev. Photo credit: invest.gov.kz.

Twenty-nine projects with foreign capital were commissioned with Kazakh Invest support between January 2018 and July, creating 6,000 jobs in the country, reports Invest.gov.kz. Another 28 projects will launch by the year’s end and create an additional 4,000 jobs in the country.

In 2018, 27 projects worth $3.1 billion were commissioned with Kazakh Invest support, such as the Zhambyl Region’s 50-megawatt solar power plant, the Kyzylorda Region’s cement plant with a production capacity of one million tonnes per year, the Turkestan Region’s dry camel milk production plant with a production capacity of 100 tonnes of milk per day, the Pavlodar Region’s railway wheels production plant with a production capacity of 200,000 wheels per year, the Karaganda Region’s modernised machinery building plant with a production capacity of 8,500 tonnes per year and Nur-Sultan’s transformers production plant with a production capacity of 100 transformers per year. Five projects were implemented in Almaty, four in the Pavlodar Region, three in the Karaganda Region, three in the Turkestan Region and three in the Almaty Region.

This year, Kazakh Invest plans to support the commissioning of 30 projects with foreign capital worth $2 billion. Forty percent of these projects centre on the new sectors of the economy, such as renewable energy and information technology. For example, $680 million will be invested in power plants this year. Production capacity will be 400 megawatts for solar power plants, 90 megawatts for wind power plants and 25 megawatts for hydropower plants.

In 2018, Kazakh Invest helped create two joint ventures worth $335 million and attracted eight transnational corporations with projects worth $930 million, such as German company Linde, Dutch company Farm Frites, Belgian company Carmeuse Group, Chinese company China Triumph International Engineering, Emirati company Phoenix Global, Turkish company Yıldırım Holding, British company United Green and Singaporean company CG Corp Global.

This year, Kazakh Invest aims to assist in the creation of at least two joint ventures with foreign investors and attract at least eight transnational corporations, targeting Russian company ECO-Culture, French company Servier, German company Tonnies and American companies AGCO, Tyson Foods and Valmont.

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