Kazakhstan leads CIS countries
Kazakhstan is the leader among CIS countries in foreign direct investment inflows
4 out of 5 indicators specified in the National Investment Strategy have been achieved.
Kazakhstan is the locomotive of Central Asia - the leader in the growth of net FDI inflows among the CIS countries and landlocked countries, as well as transition economies," the Prime Minister said in response to the deputy's request.
Askar Mamin told about the implementation of the National Investment Strategy.
According to him, currently 4 indicators out of 5 specified in the Strategy have been achieved (by the level of 2016):
1) the volume of investment in fixed assets of the non-resource sector of the economy (2018 - 141.9%, 2019 - 145%, 2020 - 156.4%);
2) the volume of external investments in fixed assets of the non-resource sector of the economy (2018 - 132.1%, 2019 - 158.5%, 2020 - 138%);
3) gross inflow of foreign direct investment (FDI) (2018 - 113.6%, 2019 - 113.9%);
4) the ratio of gross FDI to GDP (2018 - 17.7%, 2019 - 17.7%).
"The global crisis caused by the pandemic has led to a global decline in FDI flows by an average of 35% worldwide ($500 bln). The crisis had a particularly negative impact on countries with transition economies - a drop of 58%.
At the same time, the decrease in gross FDI in Kazakhstan amounted to 30%.
The Government also reported that net FDI is generated through investment in new production, patent acquisition, expansion and modernization of existing enterprise capital. Gross FDI inflows also reflect all depreciation charges.
"In his Message to the People of Kazakhstan in 2017, the First President of the Republic of Kazakhstan, Yelbassy Nursultan Nazarbayev, noted the special importance of attracting foreign investment to the economy of Kazakhstan and maintaining the leadership on investment inflows in the region. The Government in cooperation with the World Bank developed the National Investment Strategy 2018-2022 to implement the objectives of the Message. The Strategy identifies 5 key targets and 70 actions for their achievement, 50 of which have been implemented, 20 are long-term and to be implemented by 2022," Askar Mamin wrote in response to the deputy's request.