On January 28, Prime Minister of Kazakhstan Olzhas Bektenov held a meeting on the implementation of the President’s instruction to launch a new investment cycle and increase the volume of high-quality investment.
“The President has tasked all state bodies and organizations with increasing the inflow of high-quality investment and ensuring the implementation of breakthrough projects with high added value. The Investment Policy Concept through 2030 has been updated. We must jointly create a favorable investment climate, support productive operations, protect investors’ rights, and accompany projects of national importance at all stages of implementation,” Bektenov emphasized.
Deputy Prime Minister and Minister of National Economy Serik Zhumangarin reported that last year investment in fixed capital amounted to 22.7 trillion tenge. For the current year, targets have been set at 31.5 trillion tenge in fixed capital investment and USD 25.5 billion in foreign direct investment. The implementation of 475 investment projects worth 16 trillion tenge is planned, with the creation of more than 1,100 permanent jobs. At present, 1,047 projects totaling 74.5 trillion tenge are at the implementation stage. In the past year, 273 projects worth 2.49 trillion tenge were launched. Overall, under the Investment Policy Concept, total investment volume must be increased threefold.
Bektenov emphasized that protecting investors’ rights and creating a favorable investment climate is a shared responsibility of all state bodies.
“Every foreign or domestic investor must be confident that their interests are protected, disputes are resolved objectively, and state institutions act within transparent and predictable rules. Many problems stem from bureaucracy and delays at the local level. It is unacceptable when an investor ready to invest in our economy cannot obtain basic technical specifications or title documents for months. These are direct losses for the national economy,” Bektenov stressed.
