Kazakhstan Prime Minister presents the new Concept of Investment Policy

The document was developed on behalf of the Head of State.
Фото: primeminister.kz 23.06.2022 101

The Concept of Investment Policy will actively contribute to the growth of investments in the country's economy, the Prime Minister Alikhan Smailov announced at the government meeting, El.kz reports.

"In general, we managed to achieve a pre-pandemic level of investment growth. For 5 months of this year, the volume of investments in fixed assets increased by 2.5% and amounted to 4.1 trillion tenge," the Prime Minister said.

Akmola region, Shymkent and Almaty demonstrate the high growth dynamics of investments in fixed assets this year.

"There is a significant decrease in the volume of investments in fixed assets in Turkestan and Karaganda regions. At the end of 2021, there is an increase in the gross inflow of foreign direct investment in Kazakhstan by 38% compared to the previous year, amounting to about 24 billion dollars," the head of the Cabinet of Ministers said.

The largest increase in foreign direct investment has been in industry, trade, financial and insurance activities, transport and construction.

"Kazakhstan is attractive for foreign direct investment and retains its position as a leader in the inflow of foreign investment in the Central Asia. To strengthen this position in the current conditions, we need to act ahead of the curve in the competition for foreign investment and create the most optimal conditions for investors. It is necessary to expand the sources of financing investment projects in non-primary sectors of the economy," Alikhan Smailov appointed.

The presented Concept of Investment Policy should ensure the launch of a new investment cycle, which will become a driver of economic development and growth in the well-being of our population.

The Concept sets ambitious target indicators - to increase the level of investment in fixed assets to 25.1% of GDP by 2026 and increase the inflow of foreign direct investment to 25.5 billion dollars

The state investment policy will be aimed to attract high-quality foreign and domestic investment, increasing economic activity and increasing incomes of the population, also by creating new permanent jobs.