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Kazakhstan to attract over $300 million in foreign ivestments

17 december 2012, 16:56
0
Photo by Yaroslav Radlovskiy©
Photo by Yaroslav Radlovskiy©
Kazakhstan will sign up for projects with foreign investors for over $300 million, Tengrinews.kz reports citing regional director for Europe of KAZNEX INVEST Markhabbat Balgabai.

"Today we are going to sign a range of agreements to develop not only trade relations but also production ones. They include an investment agreement with Serbian company Electrometal that is planning to build a cable plant here in future, as well as with several Russian companies and Magnat company in particular. It will be building hotels. The Russian companies will implement infrastructural projects. We are planning to expand the range of contacts with different businesses through EXPO-2017 (to be held in Kazakhstan). The signed documents will be totally worth $300 million. Investment projects will be signed with companies from Serbie, Poland, Russia," Balgabai said on the sidelines of the international forum called Investments in small and medium business as a factor of sustainable economic growth in Kazakhstan.

The forum's purpose is to define new investment capacities for entrepreneurship in Kazakhstan, attraction of foreign investors, enhancement of cooperation between small and medium businesses and the authorities.

"As you know, we have achieved much success in attraction of investors to major projects. SKD assemblies are performed in Kazakhstan. Now we need to establish production of the components. So that the wagons are not assembled 100 percent from the spare parts made abroad. We want investors to buy spare parts from Kazakhstan companies," Balgabai said.

According to the organizers, the plan is to make the forum an annual event. This year it was participated by 100 Kazakhstan entrepreneurs and over 80 foreign investors and businessmen from Europe, Turkey, China, Korea and Russia.


By Gulnara Zhandagulova

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