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Prime Minister held a meeting to review the implementation of the Head of State's instructions on attracting investment in the country's economy,
primeminister.kz reports.
The main goal is to accelerate the implementation of large investment projects and solution of systemic problems that hinder the improvement of investment climate in the country, as well as consideration of possible measures to improve the effectiveness of investment policy, creation of favourable conditions for investors and intensification of work on attracting capital.
The information of the leadership of the Ministry of Foreign Affairs, Kazakh Invest on the pace of work and analysing the factors that affected the dynamics of investment activity was heard. In 2024 in Kazakhstan put into operation 230 investment projects for 1.85 trillion tenge. The work of the Investment Headquarters for the year allowed to eliminate 115 problematic issues of investors on projects totalling over $50 billion.
An approach of targeting investors in priority niches where Kazakhstan has a competitive advantage with the potential for higher conversion and export opportunities is being implemented. TOP-10 companies have been identified as industry leaders for negotiations on specific prospects for co-operation and transition to the stage of active investment. Thus, the work is being restructured through the principle of order for investment taking into account the needs of the economy, competitive advantages of the regions and other factors.
For example, productive work has been carried out with major Chinese agro-industrial companies. Fufeng Group in the near future plans to start construction of a $350 million plant for the production of sodium glutomate through deep processing of corn in Zhambyl region. Dalian Hesheng Holding Group will start construction and assembly works within the complex on deep processing of wheat in Akmola region for $650 mn this summer. Active work on ‘landing’ of projects, i.e. creation of favourable conditions, including accessible infrastructure and operative solution of administrative issues, continues with all companies.
In addition, 20 strategic projects with a total investment volume of $12bn have been identified covering key sectors of the economy, including agro-industrial complex, energy, industry, production of construction materials and others.
Among the presented projects, it is planned to conclude Investment Agreements on 14 projects this year, to start construction and installation works on 13 projects, and to start development of design and estimate documentation on 16 projects.
Attention was also paid to the projects, agreements on the implementation of which were concluded within working visits, meetings and other events. Prime Minister dwelt in detail on investment projects, where the terms of their implementation had been disrupted. Akims of Almaty, Aktobe, Atyrau, Zhambyl regions, cities of Astana, Shymkent and ministers of health, trade were heard.
To date, the measures taken to attract investment from the akimats do not reveal the opportunities of the regions, the economic potential is not sufficiently utilised. Work in this direction should be carried out at all levels of the vertical of local government, including regional akims," Head of the Government instructed.
The Government approved approaches to the introduction of planned indicators of the work of regional akimats, ministries.
A new National Digital Investment Platform will become an effective mechanism for monitoring and strengthening control over the implementation of projects, where today there is already data on 1159 projects. The data will be filled in jointly with Atameken NCE and verified on the ground by akimats.
At the same time, during the meeting a number of problematic issues affecting the efficiency of work of government agencies and requiring action were noted.
Among them are deficit and lack of prompt supply of infrastructure, complicated administrative procedures and delays in issuing permits, long terms of granting land plots. Necessary decisions have been taken on all issues.
The President noted at the enlarged meeting that attracting investment is a critical issue that requires more prompt work without excessive bureaucracy. State bodies and especially akimats need to manually control the implementation of projects. Akims and ministers should deal with this issue on a daily basis. This is the main task for today - it is necessary to promptly resolve the issues of investors," Olzhas Bektenov emphasised.
The work in this direction is under special control of the Prime Minister.
