Germany Sets Record For Investment In Kazakhstan's Economy
Date
9/23/2024 12:16:52 AM
(MENAFN- Trend News Agency)
ASTANA, Kazakhstan, September 23. Germany has
set a new benchmark in Kazakhstan's Economy in 2023, with direct
investment inflows hitting a record $770 million, a 64 percent
increase from the previous year, bringing the total investment to
over $6.6 billion from 1992 through 2023, Trend reports via Kazakh
Invest.
Currently, there are 32 joint investment projects between
Kazakhstan and Germany, with total commitments exceeding $1.1
billion.
Additionally, 12 projects valued at approximately $51 billion
are in the implementation phase, while 22 prospective projects,
totaling around $2.8 billion, are in development.
The majority of these investments are directed towards
non-resource sectors, including manufacturing, chemicals, building
materials, agriculture, transportation, and logistics. One of the
most promising areas for attracting German investment is
sustainable energy development. Kazakhstan aims to increase the
share of renewable energy sources in its energy balance to 11
percent by 2030. In this context, the German company Svevind is
planning a multi-billion-dollar project that includes a
desalination plant for hydrogen production.
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