Land reform is important measure for attraction of investments - K. Bishimbayev

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ASTANA. KAZINFORM - The land reform is an important measure for attraction of investments, Minister of National Economy of Kazakhstan Kuandyk Bishimbayev said at the 1st sitting of the Land Reform Commission in Astana today.

"Presently, Kazakhstan is an agro-industrial country, but the share of the import of foods and drinks makes 25.6%. The indicators of the agricultural sector of Kazakhstan are significantly lower than the average in the world. For example, the labour productivity in Kazakhstan is 10 times lower than in the other OECD countries, 2 times lower than in Russia and 1.5 times lower than in Belarus. The fixed capital per worker is 3 times lower than in Russia, 9 times lower than in Belarus. This is explained by the low level of attraction of investments. The volume of attracted investments in the agricultural sphere made 2.1 percent of the total volume of attracted investments over the last 10 years. This is why this land reform is an important measure for attraction of investments," K. Bishimbayev told.

According to him, privatization of land will have a multiplicative effect on the other sectors of the economy as well.

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