During today’s press conference following the Government meeting, Chairman of the Board of NC Kazakh Invest JSC Saparbek Tuyakbayev, answering the questions of journalists, noted that now it is time to attract investments into the non-primary sector of the economy.

According to Saparbek Tuyakbayev, at the moment not only the domestic investment climate, but also the macro-regional conditions around Kazakhstan have changed a lot.

“Kazakhstan is a country without access to sea routes and this complicates logistics, raises costs for shipment, and for many TNCs, it was very difficult and unattractive to establish production in Kazakhstan for the purpose of further export of goods. Now, thanks to Nurly Zhol program, infrastructure projects, the new Silk Road initiative, all this is changing,” – Saparbek Tuyakbayev said.

According to him, at the moment, container shipments are delivered all the way from Western Europe to the East coast of China. Work is also being carried out with regards to the Persian Gulf. Kazakhstan is becoming a transit country.

“Deliveries by rail are still a bit expensive, but if you cut the route 3-4 times, it becomes attractive for many. Loss of time, every minute is a loss of money for many investors. If you look at the trade turnover through Kazakhstan, then for the last 3-4 years it has been increasing significantly every year,” – Saparbek Tuyakbayev said.

Now Kazakhstan is becoming a transit country, logistics is becoming cheaper, conditions are created for entering large markets. Kazakhstan is located between the two largest markets of the world: the European Union and China.

“Moreover, as part of the EU, EAEU, we already have a market with a population of 180 million. This is a big market and Kazakhstan is becoming very attractive for many large investors. Also, together with the OECD, in the last 5-6 years we have rebuilt, rebooted the internal investment climate. Kazakh Invest was created for this purpose: to search, travel, find investors and then accompany them, so that they would establish a business here. We believe in this, and I think that we will succeed,” – Saparbek Tuyakbayev summed up.

Recall that during today’s Government meeting chaired by Prime Minister Bakytzhan Sagintayev, Chairman of the Board of Kazakh Invest Saparbek Tuyakbayev reported on the work carried out to attract foreign investment within the framework of implementing the National Investment Strategy of Kazakhstan for 2018-2022.

Saparbek Tuyakbayev said that based on the needs of the economy, a list was compiled of 145 projects involving foreign investment totaling 47.8 billion USD, which will create about 35 000 jobs. The task for 2018 is to attract investors for the implementation of 17 large projects worth 16.4 billion USD.


Published: 27 February 2018


Blogs of government agencies executives