Capital investment in Kazakhstan grew 18% in 4M

ALMATY. May 29 (Interfax) - Capital investment in Kazakhstan grew 18% year-on-year to 3.8 trillion tenge in January-April 2023, National Economy Minister Alibek Kuantirov said.

"Capital investment in January-April amounted to 3.8 trillion tenge or 18% more than for the same period in 2022. The mineral resource sector, manufacturing, real estate, transport, warehousing, and agriculture brought in the most investment," Kuantirov said at a meeting of the investment headquarters Saturday.

He said 12 of 20 regions met or exceeded their targets including Turkestan by 48%, Kyzylorda by 37%, Karaganda by 22%, Mangystau by 22% and Akmola with 16% more than planned.

Prime Minister Alikhan Smailov said eight regions fell short of their investment targets: Ulytau by 48%, Abay by 36% and Zhambyl by 35%.

He said the government's task was to raise capital investment to 18.5 trillion tenge this year.

Deputy Foreign Minister Almas Aidarov said incoming foreign direct investment amounted to $28 billion in 2022, the most for ten years. He said 199 investment projects had been delivered in the key sectors of the economy costing a total of 2.3 trillion tenge, with another 281 projects costing 1.9 trillion tenge scheduled for completion in 2023.

The top ten countries by investment last year were the Netherlands, the United States, Switzerland, Belgium, Russia, South Korea, China, France, UK and Germany.

Prime Minister Smailov said the president had set the task of raising $150 billion in FDI by 2029, including at least $24 billion in foreign capital by the end of this year.