Kazakh Invest initiates four projects worth $217 million in first half of 2019

NUR-SULTAN – Kazakh Invest supported implementing four projects worth $217 million and construction and installation works for 12 projects worth $1.7 billion in the first half of 2019.

Thirty-four projects worth $7.1 billion have entered the execution phase, the company’s press service reported Sept. 2.

“It is also expected to assist in the commissioning of 30 projects worth $2 billion and to launch the construction and installation works of 35 projects worth $4 billion. Approximately 40 percent of projects planned for commissioning are related to renewable energy and information and communication technologies,” according to the company press release.

This year, the company is planning to help open 400 megawatts of solar power plants, 90 megawatts of wind power plants and 25 megawatts of hydro power plants. The total cost is $680 million.

Kazakh Invest organised the third annual Global Investment Roundtable (KGIR-2019) in May. The event attracted more than 1,100 participants from 41 countries, including international experts, representatives of international and state organisations and the heads of the largest local and world companies including AGCO Corporation, Cisco, CITIC Bank Corporation, Nokia, Tyson Foods, Valmont Industries, WILO SE Group and Yildirim Group. KGIR-2019 resulted in signing 41 agreements worth $8.2 billion. 

As a single negotiator with investors on the government’s behalf, Kazakh Invest operates according to the one window principle. The company conducts systematic work to clarify local laws and procedures, provide transparency on decision-making and reduce the administrative burden. It serves as the solo coordinating centre for the nation’s special economic zones. 

The government approved a new procedure for working with investors Aug. 13 based on the one window principle and interaction rules. The mechanism is built on three stages – front offices at the external, central and regional levels.

The unified national interactive website invest.gov.kz is available in English, Kazakh and Russian. It provides information about the investment climate, opportunities in priority sectors and projects requiring investment and allows sending requests.

A round the clock call centre for investors (+7 7172 620 620) has provided more than 1,200 consultations this year. 

As part of the Investment Ombudsperson activities, the company received 35 requests regarding investment activities, seven of which received positive resolution, two were clarified in accordance with current legislation and 26 are in progress.

Get The Astana Times stories sent directly to you! Sign up via the website or subscribe to our Twitter, Facebook, Instagram, Telegram, YouTube and Tiktok!