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Processing of crude into high value-added products is an effective way for Kazakhstan to attract international investors: ADB

22 may 2013, 19:22
0
ADB. ©Reuters
ADB. ©Reuters
Asian Development Bank suggests Kazakhstan focusing on oil processing, citing Lakshmi Venkatachalam, ADB Vice-President for Private Sector and Cofinancing Operations, as saying.

“When it comes to transfer of technology, processing of crude into high value-added products is an effective way for Kazakhstan to take advantage of its natural riches and attract international investors”, Ms. Venkatachalam said when speaking at the sitting of the Foreign Investors Council held in Astana.

According to her, “Kazakhstan has a vast investment potential for such projects”.

“This measure will stimulate demand for a certain type of vocational training specialists that are a cornerstone of the innovation economy (…) such projects will bring forth valuable technical know-how, enabling Kazakhstan to transform into a hub of modern industrial production and a source of innovations within the region”, she emphasized.

She stressed that the country’s Government “bears the responsibility for putting in place a favorable legal framework to attract investments into the sector”.

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