Kazakhstan Breaks Into Top 50 FDI Inflows Recipients

Kazakhstan has achieved a significant milestone by entering the top 50 countries attracting foreign direct investment (FDI). The country unveiled a pioneering national digital investment platform currently in a pilot phase, poised to be fully operational in the first quarter of this year. First Deputy Prime Minister, Roman Sklyar made this announcement at a Kazakh capital investor forum.

Sklyar emphasised that Kazakhstan’s ambitious goal, as per President Kassym-Jomart Tokayev’s directive, is to draw a minimum of $150 billion in foreign direct investments by 2029. In 2023, the manufacturing industry witnessed the successful implementation of 47 projects with foreign capital involvement. Kazakhstan has solidified its standing in Central Asia and among the Commonwealth of Independence States (CIS), securing a coveted position in the top 50 countries for attracting FDI.

To address the concerns of investors, an interdepartmental commission to protect investor rights has been established. Additionally, a streamlined mechanism supporting investment projects, based on the green corridor principle, is in development. Sklyar highlighted the key advantage of this mechanism as the accelerated and simplified completion of necessary procedures for investors.