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Kazakhstan is second largest CIS investor: EDB

10 september 2013, 21:34
Eurasian Development Bank is the financial organization established by Kazakhstan and Russia
Eurasian Development Bank is the financial organization established by Kazakhstan and Russia
Kazakhstan is the second largest investor in the CIS (Commonwealth of Independent States) with the investments volume of $5.6 billion, Tengrinews.kz reports citing the press-service of the Eurasian Development Bank (EDB).

According to the survey of the Bank’s Integration Research Center (IRC), Russia is the lead in the post soviet space with $44.5 billion invested. Ukraine ($1.57 billion) and Azerbaijan ($1.55 billion) are ranked third. Belarus is ranked fourth. Belarus is also ranked second among CIS countries by the volume of signed investment deals, mainly through creation of Belarus goods trade networks and development of engineering service centers.

According to the IRC report, Russian companies still prevail among post soviet investors with 82.7 percent of cumulative volume of direct foreign investments and by the number of signed deals in 2012. “At the same time, Russian transnational corporations largely define the structure of mutual direct foreign investments in the region. Telecommunications is the most popular target for investments with 16 percent of the cumulative foreign direct investments. 12 percent of all the FDI flow into production of crude oil and natural gas. It is followed by gas transportation and sales (11 percent), banking sector (8 percent) and power energy (7 percent),” the message states.

According to EDB managing director on analytical activities Vladimir Yassinskiy, Ukraine is the leader by attracted investments: $17.1 billion almost fully represented by Russian investments.

The Bank also noted that cumulative mutual direct foreign investment of CIS countries and Georgia made almost $54 billion, growing by 32 percent over the three post-crisis years. According to the experts, the share of direct foreign investments inside the Customs Union is $22.7 billion or 42 percent of the whole volume of mutual direct foreign investments between CIS and Georgia. Meanwhile, the experts believe that the intensity of the mutual investments within the Customs Union will be significantly increased, considering that the agregate GDP of Belarus, Kazakhstan and Russia makes 87 percent of the GDP of all the CIS countries.

By Azhar Ashirova

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