Kazakhstan develops 40 investment projects with foreign investors' participation

Kazakhstan to develop 40 investment projects with foreign investors' participation
Photo credit: midjourney.com

Some 40 investment projects with foreign investors' participation worth 1.5 billion US dollars will be commissioned in Kazakhstan in 2024, Deputy Foreign Minister Nazira Nurbayeva told the expanded meeting of the Majilis international affairs, defense and security committee on attracting foreign investments into the economy, Kazinform News Agency reports.

Among the most important projects are the development of the tungsten ore deposit Boguty and the construction of the mining and processing plant in Almaty region with a capacity of 3.3 million tons of tungsten ore a year with the participation of China’s Jiaxin International Resources up to 260 million US dollars.

She also said Russia’s TekhnoNikol company intends to launch production of thermal insulators worth 100 million US dollars in Almaty region, and Italy’s Cormatex plans bonded fabric production worth 12 million US dollars in Aktobe region.

In line with the President’s task, a national pool of investment projects was created last year. It is realized by the central and local executive bodies. As of today, the pool includes 609 projects worth 25.4 trillion tenge and suggests generating over 115,000 jobs. Of which 106 worth 14 trillion tenge are developed with foreign investors’ participation, 503 projects worth 11.2 trillion tenge through domestic investments.

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