Almaty region leads Kazakhstan in investment projects

NUR-SULTAN – The Almaty region is implementing the most investment projects in the country, with 34 projects worth $3.8 billion planned for the next few years, the Kazakh Invest company reports. Ten projects are expected to launch at the end of this year.

Overall, 168 projects are registered in the Kazakh Invest monitoring system nationwide. 

“We have a three-level system of working with foreign investors. Initially, when we have an offer, we provide basic information about Kazakhstan and its investment opportunities, including taxes and other conditions. Then investors visit our region to discuss the project, select a site and consult on the provision of necessary documents and other services. We create all conditions for the implementation of the investment project. Our task is to make the investor feel comfortable in Kazakhstan from the start of the project and after its launch. We are also interested in further investments and modernisation,” said Darya Ovsyannikova, director of the regional representative office of Kazakh Invest.

She noted work is underway to attract new investors. Almaty’s investment indicators are growing by 30 percent annually, and more than 20 multinational companies operate in the region.

 

Major projects with foreign participation include the Wilo Central Asia plant, the Lukoil Lubricants Central Asia lubricants production plant and a 100-megawatt solar plant. 

The Wilo Central Asia plant, worth $5 million, was launched in 2018. It is located on an area of more than 2,000 square metres and includes a high-tech centre for the production and testing of pumping systems, a training centre for designers and engineers and a service centre for public utilities. The company supplies equipment for healthcare facilities, the Ministry of Defence, educational institutions, sports facilities and public utilities. 

The lubricants plant, worth $94 million, is designed to produce 100,000 metric tonnes of lubricants per year and created some 200 jobs. The plant exports its products to Central Asia.

Located in Kapshagai, the Eneverse Kunkuat solar station, worth $71 million, was launched in September. As one of the largest solar parks in the country, it will generate approximately 160 million kilowatt of electricity. It reduces carbon dioxide emissions by 150,000 tonnes per year. 

Ovsyannikova said investors are interested in projects in Almaty’s agricultural sector due to its fertile land and favourable climate. The region also has potential in logistics, sales and marketing and tourism. 

“We observe the interest of investors from many countries because Kazakhstan is a good platform for doing business due to its trans-border location. For example, we work with investors from Germany, as their advanced technologies are interesting to us. Foreign businesspeople feel safe due to the fact that the rights of local and foreign investors are equal. Therefore, they have confidence their rights will also be respected here,” she added.