Kazakhstan Plans to Launch Over 280 Investment Projects Worth $4.2 Billion

ASTANA – Kazakhstan intends to implement more than 280 investment projects worth 1.9 trillion tenge ($4.2 billion) this year. This was announced at the Investment Headquarters meeting chaired by Prime Minister Alikhan Smailov on May 27. 

Photo credit: asia-times.org.

Minister of National Economy Alibek Kuantyrov said the total volume of investment in fixed assets reached 3.8 trillion tenge ($8.5 billion) in January-April this year, 18% more than in the same period in 2022.

The biggest increase was recorded in mining and manufacturing, real estate operations, transport and warehousing, and agriculture.

Smailov assigned the government to bring the fixed assets’ investment to 18.5 trillion tenge ($41.5 billion) this year. Considering the backlog, he instructed the regions and ministries to work actively in this area.

The meeting also covered the rate of foreign direct investment (FDI), which totaled $28 billion last year, a record-breaking figure in a decade. 

According to Deputy Foreign Minister Almas Aidarov, 199 investment projects worth 2.3 trillion tenge ($5.1 billion) were launched in critical sectors of the economy last year.

The top ten countries that invested the most in Kazakhstan in 2022 were Belgium, China, France, Germany, the Netherlands, Russia, South Korea, Switzerland, the United Kingdom, and the United States.

Smailov urged the government to attract $150 billion in FDI by 2029. 

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