Kazakhstan Aims To Attract Large Foreign Investments By 2029

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, November 21. Kazakhstan intends to attract large foreign investments to the country by 2029, said Prime Minister of Kazakhstan Alikhan Samilov during the VI Kazakhstan Global Investment Roundtable (KGIR), Trend reports.

"Attracting investment is a key factor for growth. As part of the National Investment Policy, taking into account ESG standards, Kazakhstan is interested in attracting at least $150 billion of foreign investment by 2029. To achieve this, we continue to create favorable conditions for investors, including improving investment support tools," he said.

As President of Kazakhstan Kassym-Jomart Tokayev previously stated, the country needs to switch to a new economic model. In particular, the government has been given a large-scale task to increase the volume of the economy to $450 billion by 2029, that is, 2 times.

In addition, the PM noted that Kazakhstan accounts for 70 percent of foreign investment in Central Asia.

"Last year, total foreign direct investment rose by 18 percent to $28 billion. Over the first 6 months of this year, about $14 billion more were attracted into the national economy. The stability of Kazakhstan's sovereign credit rating is confirmed by international agencies Fitch, S&P and Moody's," Smailov said.

Over the past years, KGIR has established itself as an effective dialogue platform for strengthening cooperation between Kazakhstan and the international investment community.

This year, the agenda includes such topics as the use of innovative technologies, ensuring food security, developing transport and logistics potential, expanding export opportunities, etc.

The event was attended by representatives of the UK, Vietnam, Germany, Canada, Qatar, China, the UAE, Saudi Arabia, the US, Türkiye, France, Czech Republic and several other countries.


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