World Monitor Mag, Industrial Overview WM_November_2018_WEB_Version | Page 12

DESTINATION KAZAKHSTAN
Investment opportunities
in Kazakhstan
From the first days of independence, Kazakhstan set itself the task of
attracting strategic investors to its economy by constantly improving
the investment climate to insure favorable and truly appealing
conditions.
The adopted legislative acts and
organizational measures contributed
to the strengthening of the country's
investment
attractiveness
and,
accordingly, the inflow of foreign direct
investment into Kazakhstan’s economy.
Zhenis Kassymbek,
Minister of investment
and development of
Kazakhstan
The basic legislation of the Republic
of Kazakhstan, which regulates the
country’s investment activities, is the
Business Code. It sets out basic security
to provide investor’s stability for their
work, as well as outlining preferences
that the investor can receive when
implementing an investment project.
In general, Kazakhstan has developed
steady flows of foreign direct investment
in priority sectors, which has a positive
effect on economic growth rates. Today,
attracting investors contributes to: the
availability of investment potential,
stable legal conditions, infrastructure
and other indicators. In Kazakhstan,
growth in investment is characterized by
high pace.
Attracting foreign investment is
priority for the entire Government.
a
As of today, growth has been achieved
in all key indicators for attracting
investments. New businesses and new
jobs are being created. Investors at all
levels are provided with state support
measures. New approaches to attracting
investment are being introduced.
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According to statistics, about $277 billion
has been attracted to Kazakhstan over
the past 13 years. In 2017, the volume
of investments amounted to about $20.9
billion, maintaining the dynamics of the
previous year. At the same time, every
fourth dollar that came into our country
fell on the manufacturing sector.
For the first half of 2018, $12.3 billion
was attracted, showing an increase of
15.4%. This suggests that interest in
Kazakhstan remains high.
In order to get away from commodity
dependence, it is necessary to focus
on the industrialization of the national
economy. In this context, foreign
direct investment (FDI) will make a key
contribution to realizing the investment
potential of Kazakhstan.
If we talk about attracted foreign direct
investment, which mainly focused on the
sphere of extracting mineral resources,
today in this regard there has been a
significant change in the direction of the
non-primary sector. Investments today go
to the real economy, the manufacturing
sector and other industries.
At the same time, positive investment
growth is explained by the country’s
attractive investment climate.
Thus, if before implementing the state’s
program of industrialization, the share of