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    Kazakhstan

    Kazakhstan signs 1,438 investment contracts worth $4.9 bn, boosting economic growth

    Kazakhstan signs 1,438 investment contracts worth $4.9 bn, boosting economic growth

    The Kazakh Investment Committee has successfully signed 1,438 investment contracts over the past 18 years, totaling an impressive sum of $4.9 bn. These contracts, including 216 with the provision of a land grant in-kind, were forged between 2005 and June of this year, as reported by Deputy Foreign Minister Almas Aidarov through the Prime Minister's press service.

    Photo: Prime Minister Alikhan Smailov
    Source: Prime Minister’s press service

    A momentous development in Kazakhstan's economic landscape, the signing of these investment contracts highlights the government's commitment to attracting foreign investment and bolstering economic growth. The July 27 meeting of the Investment Headquarters, chaired by Prime Minister Alikhan Smailov, focused on evaluating the allocation of land plots as state in-kind grants under these investment agreements.

    Deputy Foreign Minister Aidarov shared that these investment contracts have significantly contributed to the country's employment sector, creating over 37,000 jobs in various industries. Additionally, the contracts have facilitated the establishment of 125 agreements within the service sector, with projects ranging from the construction of warehouses to facilities in education, healthcare, hotel services, and passenger transportation.

    State in-kind grants play a crucial role in supporting businesses and promoting priority activities in both goods production and service sectors. These grants are distributed without the need for auctions or bidding and are allocated by the local administrations (akimats) in coordination with the Land Management Committee of the Agriculture Ministry.

    Prime Minister Smailov emphasized that president Kassym-Jomart Tokayev places special emphasis on attracting foreign investments and providing robust support to local businesses. In light of this commitment, responsible state agencies have been instructed to review and update the regulatory legal acts governing the allocation of land grants in-kind. These efforts aim to enhance the enforcement practice and create a more favorable environment for investment activities within the country.

    Kazakhstan's economic growth trajectory has been on an upward trajectory in recent years, and the signing of these investment contracts marks yet another step towards achieving sustainable development and prosperity for the nation. As the government continues to prioritize attracting investments and implementing business-friendly policies, Kazakhstan remains an increasingly attractive destination for investors seeking opportunities in the Central Asian region.

     

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    27.07.2023, 22:57   Comments (0)   958
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