Kazakh Investment Committee Secures $973 Million in 29 Agreements
Kazakh Foreign Ministry’s Investment Committee Signs Contracts Worth $973.2 Million with Investors
The Kazakh Foreign Ministry’s Investment Committee recently announced the signing of 29 contracts worth 436.6 billion tenge (US$973.2 million) with investors from Cyprus, the Netherlands, and Russia in the first three months of 2024. This significant milestone was highlighted by Kazakh Foreign Ministry Spokesperson Aibek Smadiyarov during a press briefing on April 15.
According to Smadiyarov, a total of 86 applications for investment preferences were submitted through the eLicense portal, showcasing a strong interest from foreign investors in Kazakhstan’s business environment. The contracts spanned various sectors, with twelve agreements signed in the manufacturing sector, six in transportation and warehousing, and four each in arts, entertainment, and recreation, lodging and food services, healthcare, education, and the supply of electricity and gas.
The capital city of Astana led the way in signing 16 investment contracts, demonstrating its appeal as a key investment destination. Following Astana were Shymkent and Almaty Region with three contracts each, Almaty city and Zhambyl Region with two contracts each, and Aktobe, Kostanai, and Turkistan Regions with one contract each.
The successful conclusion of these contracts underscores Kazakhstan’s attractiveness to foreign investors and the government’s commitment to fostering a favorable investment climate. With a diverse range of sectors represented in the signed agreements, the country continues to position itself as a promising market for international investors looking to expand their presence in Central Asia.
