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Kazakhstan expects boost in Chinese investments 21 ноября 2014, 12:19

Minister of National Economy of Kazakhstan said he expected the new stimuli package adopted in Kazakhstan to boost the inflow of investment from China.
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Photo courtesy of minplan.gov.kz Photo courtesy of minplan.gov.kz

The Government of Kazakhstan is expecting a significant increase in the flow of investments from China, Tengrinews reports citing the press service of the Ministry of National Economy of Kazakhstan.

“Considering that China is one of the largest investors in the world, we are expecting a significant activation of its investment activity in Kazakhstan after the introduction of the new package of stimuli for investors (in Kazakhstan),” the head of the Ministry Yerbolat Dosayev said at the meeting with Chinese Vice-Minister of Commerce (Assistant Minister) Tong Daochi earlier this week.

According to the Ministry of National Economy, trade turnover between Kazakhstan and China in January-September 2014 amounted to $13.3 billion. The inflow of direct investment from China to Kazakhstan in the period from 2005 to the first half of 2014 exceeded $11.8 billion. These were mainly channeled in construction, mining and oil and gas.

“China is Kazakhstan’s closest neighbor and strategically important trade partner. We have quite friendly and partner political  relations,” Dosayev said.

The sides also discussed preparations for the upcoming visit of Li Keqiang, the Premier of the State Council of China, to Kazakhstan in December this year.

By Dinara Urazova

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