Investment climate of Kazakhstan attracts foreign businessmen

Investment climate of Kazakhstan attracts foreign businessmen

The favorable investment climate of Kazakhstan attracts foreign businessmen. Every year, there is an increase in foreign capital flows. The greatest interest is in mining and manufacturing industries, trade, finance and transport.

One of the largest Korean corporations intends to invest in development of manufacturing tractors project in Kazakhstan. At the initial stage, the company invests in the development of marketing of the tractors. The corporation also plans to organize an internship for Kazakh employees at its enterprises.

According to Senior Vice President of Corporation, Greg Nam it is an opportunity for Kazakhstan to develop its agricultural sector.

“We plan to manufacture starting with 1,000 tractors per year and expanding production to 10,000. I think that there is a possibility for this to happen,” he said.

The tractor manufacturing plant has been working in the Turkistan region since 2015. In the first two years, nearly 120 units of agricultural machinery were manufactured. 

In addition, significant investments will be made in the agricultural sector of Kazakhstan by the World Bank.  The financial institute is ready to finance the program for the development of beef cattle, worth US$500 million.

Meantime, Kazakh authorities have met with the US Secretary of Agriculture and the Governor of Nebraska. They discussed the construction of a plant for the production of irrigation facilities.

“We are negotiating with livestock companies and major meat producers who will build a meat processing plant and feedlots,” added Kazakh Agriculture Minister, Saparkhan Omarov.

Experts are confident that attracting foreign capital along with introduction of modern technologies will give a new impetus to development of all sectors of Kazakhstan’s economy.