Kazakhstan is
planning to launch production of iron castings. The enterprise will become the
second plant in the world capable of high-tech casting without the need for
additional processing. Furthermore, another facility for ferroalloy production
is set to be established in the country this year, with a capacity of 240,000
tonnes of export-oriented products per year. According to the Investment
Committee of the country’s Foreign Ministry, a list of 281 investment projects
worth two trillion tenge has been approved this year. Additionally, work on the
creation of a single National Digital Investment Platform is currently
underway. It will serve as a roadmap for attracting investor companies.
“The first phase of
this project is slated for completion by the end of this year, with the second
phase expected to be finished by the middle of next year. Moreover, the Head of
State has set the task of attracting at least $150 billion to the country over
a seven-year period. To achieve this, we aim to attract $24 billion in foreign
investments by the end of the year. Additionally, it is planned to conclude at
least four investment agreements before the year-end, two of which have already
been signed. Furthermore, there are plans to sign or ratify at least three
agreements on the promotion and protection of investments, as well as to launch
at least 40 projects involving foreign investment, before the year’s close,” Ardak
Zebeshev, Chairman of the Kazakh Foreign Ministry’s Investment Committee, said.
It is worth noting
that Kazakhstan maintains its leadership position among landlocked countries,
as well as post-Soviet and Central Asian states, in attracting foreign direct
investment. For example, last year, the country attracted a record $28 billion
in investments over the past 10 years. In the current year’s first quarter
alone, the figure reached $7.6 billion, marking a 10 percent increase compared
to the same period in 2022.
