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Astana, Kazakhstan • 22 January 2024

How Much FDI Is Kazakhstan Attracting from Italy?

The Economy Ministry published data on investment cooperation between the countries

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Collage by QazMonitor
Collage by QazMonitor

The Ministry of National Economy reported that the gross inflow of direct investments from Italy to Kazakhstan amounted to $7.4 billion from 2005 to the first nine months of 2023. Authorities note that in the nine months of 2023, the gross inflow of investments reached $107.4 million, showing a 28.3% period-over-period increase, QazMonitor reports citing the Ministry’s press service.

The volume of net direct investment inflow from Italy to Kazakhstan since 2013 reached $1.3 billion, and for the first nine months of 2023, this indicator amounted to $73.2 million. The volume of the gross investments from Kazakhstan to Italy from 2013 to the first nine months of 2023 amounted to $62 million.

In Kazakhstan, Italian investors are involved in projects in energy, exploration, extraction of natural resources, construction, infrastructure, transport, communications, and agriculture.

Among the major Italian companies implementing investment projects in the country are:

  • International energy industry contractor Bonatti

  • Steel structures contractor Cimolai

  • Energy company Eni

  • Air carrier Neos

  • Valve manufacturer PetrolValves

  • Engineering contractor Renco

  • Sustainable agriculture developer Savi Italo

  • Sustainable agriculture developer TreBio

Furthermore, the government approved four investment projects with the participation of Italian investors for construction in Kazakhstan:

  • The Badamsha 2 wind farm project by Eni in the Aktobe region, valued at over $80 million (₸36 billion).

  • The Shaulder solar power plant project by Eni in the Turkistan region, valued at over $26.7 million (₸12 billion).

  • The sheep wool factory project by Cormatex in the Aktobe region, valued at over $11 million (₸5 billion).

  • The thermal insulation materials production project in the Aktobe region, valued at over $11 million (₸5 billion).

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