Kazakhstan plans 22.1 trillion tenge of capital investment in 2024

ASTANA. March 5 (Interfax) - Capital investment in Kazakhstan is expected to amount to 22.1 trillion tenge this year, National Economy Minister of Nurlan Baibazarov said.

"The government has been tasked with achieving ambitious investment goals. In 2024, capital investment is expected to total 22.1 trillion tenge, which is an increase of 22% compared with the previous year [when investment came to 18.043 trillion tenge]," Baibazarov said at a Tuesday meeting of the government.

As many as 234 projects worth 2.3 trillion tenge will be launched in 2024.

Furthermore, a Fast Track system - or the so-called green corridor - will be introduced to stimulate investment and to support investment projects starting from $15 million in value.

"This system will help speed up and facilitate all procedures that the investors have to follow - from company registration to commencement of commercial production. We need to launch the National Investment Platform, which will help monitor the progress of investment projects from the approved pool by regions and economic sectors," Baibazarov said.

In addition, the government will place orders on a regular basis for the government agencies in order to attract investment taking into accounts the specifics of the industries and the regions. The government is now preparing a National Infrastructure Plan until 2029 in order to improve and develop infrastructure in the country. The government may allow the investors to build infrastructure necessary for their enterprises on their own, the minister said.