World Monitor Magazine June #3 - Page 36

Invest to kazakhstan Attraction and effective use of foreign investment in the country Today, in the conditions of a worsening world economy, we must intensify our investment resources. By the instructions of the Head of State, measures have been taken to ensure sustainable growth by attracting investments. Attraction and effective use of foreign investment in the country is the main direction of mutually beneficial economic cooperation of Kazakhstan with foreign countries. Foreign investors, for today, have real opportunities for constructive dialogue and the achievement of real mutual understanding with the president and state authorities of Kazakhstan. Erlan Khairov, Vice Minister for Investment and Development of RK On 25 March 2016, the President of the Republic of Kazakhstan, N.A. Nazarbayev, signed the Law on Ratification of the Enhanced Partnership & Cooperation Agreement between the Republic of Kazakhstan, on the one hand, and the European Union and its member states, on the other hand. Kazakhstan became the first country in the post-Soviet world to sign such an agreement with the EU. This was preceded by the Partnership and Cooperation Agreement of 1995, which was implemented in July 1999. Will the new agreement give impetus to the development of cooperation in the field of investment, innovation and business development? What are the prospects for the business community? What do the statistics on investment tell us? This and much more we have discussed with the Vice Minister for Investments and Development of the Republic of Kazakhstan, Mr Erlan Khairov. foreign investments were attracted to the economy of Kazakhstan over the past 11 years. We have experienced positive achievements. The volume of direct investment has confidently entered a stage of growth. If we briefly dwell on the statistics, according to the National Bank of Kazakhstan in 2016, the gross inflow of FDI amounted to 20.6 billion USD and increased by 40% compared to 2015. The greatest increase in gross inflow of FDI is observed in such industries as information technology - 9.7 times, electricity - 5.9 times, mining – 2 times, construction - 84.5%, trade - 51%, processing industry - by 48.3%. At this, in a number of manufacturing industries, FDI increased into pharmaceutical products – 8 times, metallurgy - 85.8%, manufacture of wood and paper products - 74%. The share of the processing industry within the structure of investments has grown from 17% to 18%. Erlan Kartayevich, please share, what is the amount of foreign investments attracted to Kazakhstan? What do the figures tell us? Thanks for asking. Let's turn to the figures. Thank you. Erlan Kartayevich, and how Thanks to the policy pursued by the Head of is the trade and economic cooperation State, more than 243 billion USD of direct with the EU developing today? What 30 world monitor