Kazakhstan to Launch 40 Investment Projects This Year

ASTANA – Kazakhstan plans to introduce at least 40 major projects with foreign capital this year. This was announced at the March 12 government session with the Kazakh Invest national company’s board of directors chaired by Prime Minister Olzhas Bektenov, reported the Prime Minister’s press service.

Photo credit: Prime Minister’s press service

Kazakh Invest now supports 200 projects worth $27.3 billion, offering some 68,800 new jobs.

The list of key projects for the current year includes the enterprise for the production of medical equipment of the U.S. company GE HealthCare in Astana. This will make it possible to localize the production of ultrasound and CT (computed tomography) devices for both local hospitals and export. The company also plans to hold educational programs to improve the skills of personnel in the national healthcare system.

The Swiss company Roche will launch the production of antitumor drugs in Almaty with the prospect of exporting products.

Austria-based Lasselsberger is localizing the production of ceramic tiles, dry construction mixtures and construction glue in Astana. A new plant will employ more than 200 people and reduce the import dependence of the Kazakh market for these products.

During the meeting, Bektenov instructed Kazakh Invest to focus on attracting investors to promising projects for deep processing of grain, production of popular plastics, localization of oil and gas equipment and other products with high added value.

“The President has set the task of increasing the volume of the economy to $450 billion by 2029. During this period, it is necessary to attract at least $150 billion in foreign investment. In this regard, every effort must be made to find and attract large investors to our country. We need bold and innovative solutions,” emphasized Bektenov.

Kazakh Invest, established in 2017, promotes the country’s sustainable socio-economic development by attracting foreign investment in priority sectors of the economy and providing comprehensive support for investment projects.

On March 7, Yerzhan Yelekeyev was appointed to the post of the Kazakh Invest chair. Born in 1986, Yelekeyev graduated from the Kazakh-British Technical University with a degree in Management and the University of Glasgow with a Master of Arts in Financial Economics.

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