Kazakhstan Creates Map Of Investment Projects

Kazakhstan Creates Map Of Investment Projects

A map of investment projects will be introduced in Kazakhstan to facilitate the work of investors, AzerNewsAz reported.

“To effectively work with investors and monitor the implementation of investment projects, a map of investment projects will be created with integration into the information and monitoring system,” the Kazakh Minister of Investment and Development, Zhenis Kassymbek, said at a meeting of the Government.

The minister said that the  map of investment projects will become a main tool for monitoring the implementation of investment projects, as well as an effective system for assessing the work of state bodies, national companies and akimats [a municipal, district, or provincial government] in attracting investments, Kazinform reported on August 15.

The map of investment projects will be divided into two groups: perspective investment projects for offering investors and ongoing projects, for which investors are already attracted, according to Kassymbek.

“With successful implementation of the strategy, a phased growth of gross inflow of direct investments into the economy is forecasted over next five years – up to 26 percent to the level of 2016, and investments aimed at increasing efficiency, that is, export-oriented – up to 50 percent. At the same time, domestic investment is expected to grow. Thus, the volume of investments in fixed assets of the non-oil sector will increase by 46 percent,” Kassymbek noted.

He reminded that implementation of these effective operational measures and introduction of new approaches to attract investment are envisaged in the new National Investment Strategy for 2018-2022, which was approved by the government on August 15.

The volume of direct foreign investments in the economy of Kazakhstan amounted to $20.6 billion in 2016 and increased by 40 percent, as compared to 2015.

This figure was equal to $5.4 billion in the first quarter of 2017, which is 18.9 percent more, as compared to the same period of last year.