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Astana, Kazakhstan • 01 June, 2023 | 10:52

Kazakhstan Plans to Attract at Least $24 Billion of Foreign Capital in 2023

The government's objective by 2029 is to attract $150 billion in foreign direct investment

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Freepik
Freepik

On May 27, Prime Minister Alikhan Smailov held a meeting of the investment headquarters, which considered the rate of capital investments and foreign direct investments, QazMonitor reports citing the prime minister's press service.

During the meeting, Almas Aydarov, the deputy minister of foreign affairs, reported that last year saw the commissioning of 199 investment projects worth ₸2.3 trillion in key sectors of the economy. For 2023, the government plans to launch an additional 281 projects valued at ₸1.9 trillion.

The direct inflow of foreign investment into the national economy reached a ten-year record high of $28 billion in 2022.

The top 10 countries-investors based on last year's results include the Netherlands, the USA, Switzerland, Belgium, Russia, South Korea, China, France, the UK, and Germany.

PM Smailov emphasized that the government's objective by 2029 is to attract $150 billion in foreign direct investment.

This year we must attract at least $24 billion of foreign capital into the national economy. The ministers and the akims [heads of local government] should take necessary measures to implement new and high-quality investment projects with foreign capital in priority sectors of the economy.

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