EU and USA are in the top investors
By the end of 2022, the gross inflow of foreign direct investment to Kazakhstan reached US $ 28 billion, breaking a record for the last ten years (in 2012 – US $ 28.9 billion). The indicator is 17.7% up compared to 2021 (US $ 23.8 billion), the Ministry of Foreign Affairs of Kazakhstan reports.
The lion’s share of FDI in Kazakhstan’s economy came from the Netherlands – US $ 8.3 billion dollars, USA – US $ 5.1 billion, Switzerland – US $ 2.8 billion, Belgium – US $ 1.6 billion, Russia – US $ 1.5 billion, South Korea – US $ 1.5 billion, China – US $ 1.4 billion, France – US $ 770 million, UK – US $ 661 million, Germany – US $ 469,5 million.
In the sectoral context, the most investments fall on the mining industry – US $ 12.1 billion (+ 25%), the manufacturing industry – US$ 5.6 billion (+2.7%), wholesale and retail trade – US $5.1 billion (+36%), professional, scientific and technical activities – US $ 1.2 billion (an increase 2.2 times), transportation and warehousing – US $ 1.2 billion (+13.5%).
In the next 7 years, Kazakhstan aims to attract at least US $ 150 billion of foreign investment into its economy. The goal is likely to be achieved thanks to President Tokayev’s result-oriented policy.
Meanwhile, despite the fact that the extractive sector has absorbed the majority of investments, Kazakhstan places a priority on foreign investors adhering to environmental regulations. The country recently filed a lawsuit worth 2.3 trillion tenge (US $ 5.1 billion) against North Caspian Operating Company (NCOC), the consortium operator of Kashagan field, for violating environmental requirements and harming the environment. ///nCa, 4 April 2023