Kazakhstan Unveils $60 Million Investment Projects in Asset Recovery Program
Kazakhstan Implements Investment Projects Worth $61.5 Million as Part of Asset Recovery Efforts
ASTANA – Kazakhstan has recently kicked off the implementation of eight investment projects totaling 30 billion tenge (US$61.5 million) as part of its asset recovery initiatives.
The Asset Recovery Committee of the Kazakh Prosecutor General’s Office has confirmed that the construction of two trade and logistics centers valued at over 7 billion tenge (US$14.4 million) has already begun.
These projects are aimed at addressing the shortage of warehouse space in the country, which is expected to lead to a decrease in the costs of final goods for the general population.
Furthermore, the implementation of these investment projects is forecasted to enhance tax revenues for the budget and generate new employment opportunities.
President Kassym-Jomart Tokayev, during a meeting with Kazakh business leaders last year, emphasized that investments would serve as a key indicator of the legitimate origins of assets.
As of October 14, Kazakhstan’s special state fund for the accumulation of unlawfully withdrawn assets has amassed 177 billion tenge (US$363 million). This sum includes roughly 147 billion tenge (US$301.5 million) from registry agreements, 19 billion tenge (US$39 million) through procedural agreements, over 6 billion tenge (US$12.3 million) from asset sales, nearly 5 billion tenge (US$10.3 million) via court rulings, and more than 165 million tenge (US$338,469) from real estate leases.
Among the assets that have been sold are two villas, an administrative building, a residential building, an apartment, a land plot, and two luxury cars.
This proactive approach to recovering assets and reinvesting in the economy demonstrates Kazakhstan’s commitment to safeguarding public funds and fostering sustainable economic growth.
