Four investment projects worth $217 million have been commissioned in Kazakhstan this year

NUR-SULTAN, 3 September 2019 – During the first half of 2019, four projects with a total value of $217 million have been commissioned with the assistance of Kazakh Invest NC. In addition, construction and installation works began on 12 projects worth $1.7 billion, while another 34 projects worth $7.1 billion entered the active implementation phase. 

The following tasks have been set for the remainder of the year: to assist in the commissioning of 30 projects valued at $2 billion and to begin the construction and installation works on 35 projects totaling $4 billion.

Around 40% of the total number of projects scheduled for commissioning are in the new sectors of the economy, including renewable energy and information and communication technologies. Solar power plants for 400 MW, wind power plants for 90 MW and hydropower plants for 25 MW are planned to be commissioned this year. The total cost of the power plants is $680 million.

In May of this year, Kazakh Invest organized the third annual round-table on global investment “Kazakhstan Global Investment Roundtable”, which brought together more than 1,000 participants, including the heads of major world companies and domestic businesses, international experts and representatives of international and state organizations. Around 600 guests were foreign participants from 41 countries, including the US, UK, Germany, France, Italy, Turkey, India, Singapore, Korea, and the UAE. Among them were senior representatives of global companies such as Cisco, Nokia, CITIC Bank Corporation, WILO SE Group, AGCO Corporation, Valmont Industries, Tyson Foods, Yıldırım Group and others. The participants reached investment agreements and signed 41 documents totaling $8.2 billion.

It should be noted that Kazakh Invest, defined by a single negotiator with investors on behalf of the Government of Kazakhstan and operating as a  single-window built a “soft infrastructure” for the investors, which means that systematic work was carried out to clarify the laws and procedures of Kazakhstan, transparency of decision-making was ensured and administrative burden was reduced.

In August, the Government of Kazakhstan approved a new procedure for organizing work with investors based on the single-window system, as well as engagement rules when attracting investments. The mechanism of working with investors is built on three levels, namely external, central and regional level front offices.

Today, a nation-wide interactive web-site is functioning in Kazakh, English and Russian. The site provides the necessary information about the investment climate, opportunities in priority sectors and projects requiring investment. Visitors can also send requests through the site.

A call center for investors (+7 (7172) 620 620) is operational around the clock, which has provided more than 1200 consultations to investors. As part of the activities of the Investment Ombudsman, Kazakh Invest received 35 requests from investors regarding issues arising in the course of investment activities.

Kazakh Invest is a subordinate organization of the Ministry of Foreign Affairs of Kazakhstan attracting and supporting investments. Acting as a “single negotiator” on behalf of the Government, the Company provides a full range of services to support the implementation of investment projects, including registration, provision of various permits and approvals necessary for the implementation of investment activities in Kazakhstan.

Created at : 4.09.2019, 15:40, Updated at : 4.09.2019, 15:40