Kazakhstan's investments grow 10,000 tenge per capita

Compared to the same period of last year investments per capita grew 10 thousand tenge ($66.7) and made 102.5 thousand tenge ($683) in January-May 2013 in Kazakhstan, Tengrinews.kz reports citing Ranking.kz. Capital investments in Kazakhstan in H1 2013 grew 12.8 percent against H1 2012 and became less concentrated in oil-bearing regions and largest cities. The share of investments in oil regions -- Atyrau and Mangistau oblasts -- lowered from 33 to 30.2 percent. The share of investments in Almaty and Astana cities dropped from 21.7 to 15.5 percent. Overall the share of the four most contributing regions of Kazakhstan shrank from 54.6 to 45.7 percent. According to Ranking.kz managing partner Pavel Gribnitskiy, the focus is shifting to regions and their development: “For many years Almaty, Astana and Atyrau oblast (oil sector) were the magnets for the investments. Whereas now other oblasts, like Kyzylorda and Zhambyl obasts, are moving forward,” he said. He believes that this is linked to implementation of state-run programs on regional development and that the trend will persist. “It will largely depend on the government. Public sector is moving the economy forward these days. There are many state-run development concepts, e.i. the Business Roadmap-2020 and the State Program of Accelerated Industrial-Innovative Development. Increase of the investment flows will also largely depend on how successfully the officials responsible for the economic affairs implement the policies of investments attraction and stimulation,” Gribnitskiy explained. By Azhar Ashirova