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  • PM: Attracting investment is one of key drivers of economic growth recovery
4 June, 2020 14:50

PM: Attracting investment is one of key drivers of economic growth recovery

Prime Minister of Kazakhstan Askar Mamin chaired a regular meeting of the Coordinating Council on Investment Attraction, Strategy2050.kz reports with reference to primeminister.kz.
PM: Attracting investment is one of key drivers of economic growth recovery | Strategy2050.kz

Minister of National Economy Ruslan Dalenov reported on the implementation of targets for investments in fixed assets, Minister of Foreign Affairs Mukhtar Tleuberdi, Ministry of Industry and Infrastructural Development Beibut Atamkulov, Ministry of Energy Nurlan Nogayev, Minister of Agriculture Saparkhan Omarov, Governors of Kyzylorda region Gulshara Abdykalikova, Karaganda region — Zhenis Kassymbek, Mangistau region — Serikbay Trumov, Mayor of Shymkent — Murat Aitenov told about the ongoing work on attracting investments.

The meeting participants noted that the consequences of the coronavirus pandemic made adjustments to the current economic situation and had a negative impact on the work to attract investment. In January-April 2020, investments in fixed assets of Kazakhstan amounted to 3 trillion tenge — 84% of the planned target. In terms of regions, the largest non-fulfillment — over 30% — falls on Mangistau and Kyzylorda regions, as well as the cities of Almaty and Shymkent.

The Prime Minister emphasized the importance of realizing the task set earlier — by 2025, increasing investment in fixed assets up to 30% of GDP. In the future, intensification of competition for investment in the world is expected, which requires the adoption of active measures to implement new investment projects in all sectors of the economy, as well as further improve the investment climate.

“The Government has begun work to revive the economy. Comprehensive Plan for Restoring Economic Growth by the End of 2020 was adopted. In accordance with it, investments are considered as one of the key drivers,” said Mamin.

The Prime Minister pointed out the need to improve the quality of preparation of investment proposals, the level of coordination of the work of government agencies and all interested parties, the introduction of new tools to attract foreign capital and technology, targeting priority sectors of the economy.

The Head of the Government instructed the central state and local executive bodies to update the pool of investment projects and target indicators for attracting investment in fixed assets as soon as possible, taking into account changes in the economic situation in the country and the world.

chronicle 2050

SMEs will make up at least 50% of the GDP

abour productivity will reach up to $126 000 and 3 to 6 y.o. kids will have 100% access to pre-school education in Kazakhstan.

Kazakhstan will fully satisfy its own market of POL in compliance with the new environmental standards

The share of non-primary exports in total exports will double and triple by 2040

Transition to Latin graphics will commence

95% of the population will speak Kazakh

15% of the area under cultivation will make use of water-saving technologies.

The issue of providing water for irrigation will be resolve

GDP per capita will stand at $60 000

The urban population will represent 70% of the total population in Kazakhstan