Germany’s $770 Million Investment in Kazakhstan in 2023
Germany Sets Investment Record in Kazakhstan, Strengthening Bilateral Ties
ASTANA – In a move that underscores the growing economic partnership between Germany and Kazakhstan, a record investment of $770 million was made by Germany in Kazakhstan last year. This significant investment was highlighted in a report presented by the Kazakh Invest national company during a recent meeting of the Council for Attracting Investments chaired by Kazakh First Deputy Prime Minister Roman Sklyar.
Currently, the total pool of German projects in Kazakhstan amounts to 63 projects valued at approximately $54.4 billion. These projects have played a key role in creating 14,700 jobs, with 32 projects already operational and providing nearly 6,000 permanent jobs.
The strong economic ties between the countries have also been reflected in the bilateral trade figures, with an impressive increase of 24.7% in 2022 and 41.3% in 2023. Kazakhstan has emerged as one of Germany’s top 50 trading partners and a key partner in Central Asia.
During the meeting, the Council for Attracting Investments reviewed the Bakhty-Ayagoz railway project in the Abai region, which borders China. This project is crucial for improving logistics and enhancing the investment climate in the region. Recognizing the importance of accelerating the project, the council has classified it as an object of special regulation to streamline the design and construction processes.
The continued collaboration between Germany and Kazakhstan in the field of investment and trade is a testament to the strong partnership between the two countries. With projects like the Bakhty-Ayagoz railway contributing to economic development and enhancing connectivity, the future looks promising for further growth and cooperation between Germany and Kazakhstan.
