At a press conference in the Government, deputy chairwoman of the Kazakh Ministry of Industrial Development’s Investment Committee Larisa Dzhumagalieva told about the main directions of the investment policy of Kazakhstan, Primeminister.kz informs.
According to the National Bank, after a three-year recession in 2016, the inflow of foreign investment has grown significantly to make $ 21 billion, which is 41.5% more on-year.
"The growth trend continues in the current year, and the gross inflow of foreign direct investment (FDI) in the first half of the year was $ 10.5 billion, which is 8.6 percent more on-year," Larisa Dzhumagaliyeva said.
The greatest growth in FDI gross inflows is observed in such areas as the mining industry - 2.2 times, manufacturing industry - 46.7%, transport - 10.3%.
The Ministry developed and adopted the National Investment Strategy jointly with the World Bank, the main goal of which is to create a favorable investment climate and attract investments focused on the manufacturing sector and related services.
By 2022, the following target indicators are to be achieved: gross inflow of FDI will increase 1.26 times; the ratio of gross inflow of foreign investment to GDP in 2022 will increase to 19%; FDI, focused on increasing efficiency (gross inflow of FDI into the manufacturing industry) will increase 1.5 times, investments in the fixed capital of the non-extractive sector of the economy (excluding the state budget) -1.46 times, foreign investment in the fixed capital of the non-primary sector -1.5 times.
Priority sectors have been identified to attract new investments in. These are of two groups. The first group are industries with active potential, such as food industry, deep processing of oil, gas and minerals (that is, metallurgy, chemistry and petrochemistry), as well as engineering.
The second group is promising sectors, such as ICT, tourism and finance. This group consists of industries in which investors can be interested in the long term.
The Strategy also identifies priority countries for attracting investment.
"Taking into account economic opportunities, 36 potential countries of the world were identified, 11of which are the top priorities for us: the USA, Russia, Great Britain, Germany, France, Italy, China, Japan, South Korea, Turkey, UAE. For each of these priority countries, an individual approach and action plan are being developed.
The Ministry is actively working to attract foreign investors, including multinational companies, in the country's economy.
This year 34 projects are under implementation the total sum of about $ 13 billion.
Reported by the Kazakhstanskaya Pravda.
