ASTANA – Kazakhstan’s Prime Minister Olzhas Bektenov convened a meeting on Feb. 20 to assess the progress on boosting investments in the country’s economy.
Olzhas Bektenov stressed that attracting investment is a priority that requires government agencies and regional authorities to work efficiently, eliminating bureaucracy. Photo credit: Prime Minister’s press service.
The meeting’s main objective was to speed up the execution of large investment projects, tackle systemic problems hindering the investment climate, and explore measures to improve investment policies and create favorable conditions for capital inflow.
The Ministry of Foreign Affairs and Kazakh Invest presented their analyses of investment activity, highlighting key factors impacting its dynamics. Last year, 230 investment projects worth 1.85 trillion tenge (US$3.7 billion) were launched. The Investment Headquarters was pivotal in resolving 115 investor issues on projects totaling over $50 billion.
Kazakhstan is adopting a new strategy to attract investors to high-potential sectors, focusing on industries with processing and export opportunities. The government has identified ten key companies for targeted investment negotiations based on regional strengths and economic needs, reported the Prime Minister’s press service.
Сooperation is underway with leading Chinese agro-industrial firms. Fufeng Group will invest $350 million in a corn-based sodium glutamate production facility in the Zhambyl Region, while Dalian Hesheng Holding Group plans a $650 million wheat processing complex in the Akmola Region.
Kazakhstan has identified 20 strategic projects with $12 billion in investments, spanning sectors such as agriculture, energy, and construction materials. By the end of this year, the government aims to finalize agreements for 14 projects, initiate construction on 13, and begin developing project documentation for 16 others.
Bektenov also addressed delays in project timelines, calling for more proactive engagement from regional authorities. He emphasized the need for local governments to leverage their regions’ economic potential better, stating that investment efforts must involve all levels of local governance, including district-level officials. Bektenov stressed that attracting investment is a priority that requires government agencies and regional authorities to work efficiently, eliminating bureaucracy.
The National Digital Investment Platform has been launched to ensure effective monitoring of investment projects, providing real-time data on 1,159 projects.
