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Astana, Kazakhstan • 12 February 2024

Transport Ministry Builds Investment Projects Pool worth $31 Billion

The projects cover the areas of rail and sea transport, aviation and roads

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gov.kz
gov.kz

Kazakh government officials and business representatives held a brainstorming session on enhancing the investment climate in the country, and identifying barriers to investment projects in the transport and logistics industry, QazMonitor reports citing the press service of the Ministry of Transport.

The meeting at the Astana International Financial Center included the Ministry of Transport, Ministry of Foreign Affairs, Ministry of Finance, JSC NC Kazakh Invest, and business stakeholders.

Vice-Minister of Transport, Talgat Lastaev, emphasized the need for approximately $40 billion in the coming years to achieve various tasks, including enhancing transit capacity. Lastaev stated that the Ministry has taken steps to update and expand the pool of investment projects in transport and logistics. The inaugural meeting of the Ministry's working group on investment project support involved collaboration with local executive bodies, and public, and private sector entities.

The Ministry has successfully compiled a portfolio of investment projects totaling over $31 billion in rail and sea transport, aviation, and roads. According to official data from the Bureau of National Statistics, the Ministry exceeded its investment plan in the supervised industries by 107.7%, reaching 2,233.6 billion tenge by the end of 2023.

To attract European investors, a Kazakh delegation from the transport industry conducted a working visit to Belgium, the Netherlands, and Romania. The delegation engaged in meetings with relevant ministers, international financial institutions, and key European investors, resulting in the signing of various cooperation agreements.

The meeting concluded with setting recommendations for consideration at the upcoming Investment Headquarters meeting.

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