President calls on Foreign Investors to support Local Producers

    By A. Maratov
    The policy of supporting Kazakhstani producers is an important element in growing the economy, President Nursultan Nazarbayev said in his concluding speech on the outcome of the 24^th meeting of the Foreign Investors Council.
    He said Kazakhstan’s share in important sectors such as oil and gas is 11 percent in total.
    "Only 14 of 130 companies in the oil and gas sector are fulfilling their obligations in terms of the Kazakh share," he said.
    Nazarbayev said Kazakhstan’s share in mineral resource use hit 11.5 percent, in the largest companies - 31 percent, and in the Samruk-Kazyna group - 38 percent.
    In this regard, Nazarbayev appealed to foreign investors actively get involved in upgrading Kazakh enterprises by supporting domestic producers.
    "I think there will be understating between us," he said.
    Nazarbayev underscored that major enterprises, national companies and mineral resources users are the locomotives for the upgrading process, Trend said.