Система Orphus

Volume of direct foreign investment in Kazakhstan has exceeded KZT12bn in six months

06.11.2018, 20:43 3428
This year, nine out of 17 regions of Kazakhstan have observed the increase in the volume of direct foreign investment, Finprom.kz reports.

As a rule, the greatest concentration has been found in the Atyrau region: 40.8% of the total share of Kazakhstan (5 billion dollars for the 1st half year of the present year, of which 2.3 million - for the 2nd quarter).

Almaty is in the second place in the attraction of foreign investment - 22.7% (2.8 billion dollars for the half year, of which 1.3 billion - for the 2nd quarter). The city has had an increase of 64% in the flow of foreign investment by the 1st half year of 2017.

In the 1st half year of 2018, the lowest volume of investment outflow overseas has been - 532.5 million dollars, of which 198 million for the 2nd quarter. For comparison, the gross outflow of direct investment from Kazakhstan's investors - 1.4 billion dollars, and in 2016 - 2.8 billion.

Two years ago, Kazakhstan officially announced a new model of growth management. Within the development programmes in the second five-year phase the state has moved from the economy driven by the 'competitiveness of commodities' factor to the economy anchored in growth by the 'investment factor.'

This model is described in detail in the adjusted national programme of industrial and innovative development as of September 6, 2016. In August 2017, a detailed investment strategy until 2022 was launched, aiming at creating a favourable investment climate and attracting investment to increase effectiveness.

The programme was designed with the support of the international expert community and a group of the World Bank.

As a result of the processes of modernization of the national economy, volumes of exporting products in 2017 went up by 31.6%, up to 48.3 billion dollars (in 2016 - 36.7 billion dollars).

For the 2nd quarter of the present year, exports have made up 15.2 billion dollars, against 12.5 billion for the same period in the previous year.

The expected events in the development of Kazakhstan's investment attractiveness are of the medium term.

Based on the National Action Plan to implement the Address of the head of state to the people of Kazakhstan as of October 5, 2018, "Growing Welfare of Kazakh Citizens: Increase in Income and Quality of Life", in December 2019 the Ministry for Investment and Development should present an updated national programme of industrial and innovation development of Kazakhstan until 2025.

In February 2019, the government will create a Fund of direct investment in the non-primary sector, based on the co-investment principle with foreign investors to implement large and breakthrough projects.

Also, in February 2019 a new programme for the development of the tourism sector for 2019-2025 will come out.

In July next year, amendments to the Constitutional Law on the Astana International Financial centre will be introduced, enabling to the Centre's quick formation and development as the main financial platform of the country and to apply its jurisdiction to attract and protect investment.

In August 2019, a fundamental scheme of territorial and special development of the country until 2030 that will be a new map of the country's urbanization management. The fundamental scheme provides for the linkage between the current and long-term, macroeconomic, sectoral and regional development aspects, as well as enable to coordinate actions of businesses, sectoral and territorial government agencies and other organizations.

Source: BNews.kz

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