Kazakhstan sees rise in foreign investments

By Laman Ismayilova

The gross inflows of foreign direct investment grew in Kazakhstan in the first half of 2016, Kazakh Investment and Development Ministry reported on November 14.

Direct investment hit $9.3 billion in this period which is 25.8 percent more compared to the same period of 2015, Investment and Development Minister Zhenis Kasymbek said at the government meeting.

The minister said that as much as 60 percent of these investments fell on mining and exploration sphere, 15 percent – on the manufacturing sector, 9 percent on trade, 5 percent on the construction, 12 percent – on other spheres.

In the 1H2016 foreign investment in the manufacturing sector remained at last year’s level, Kasymbek said. Meanwhile, investment in the steel industry (which accounts for 88 percent of all investments in the manufacturing sector) grew by 26.5 percent.

Investments in the chemical industry grew by 8.4 times, in the pharmaceutical industry- by 4.2 times in 1H2016.

Meanwhile, Kazakhstan’s gold and currency reserves, including gross reserves of the National Bank and the National Fund’s assets, decreased from $95.77 billion to $92.75 billion in Oct. 2016.

In early 2016 Kazakhstan’s gold and currency reserves amounted to $91.38 billion, according to Kazakh National Bank’s data.

The National Fund’s assets decreased by 2.04 percent – to almost $62.21 billion since the beginning of 2016.

Gross international reserves of the National Bank increased by 9.56 percent – to $30.54 billion in the reporting period. Net international reserves of the National Bank increased by 11.09 percent – to $29.97 billion since the beginning of 2016.

The assets in currency decreased by 0.33 percent – to almost $20.23 billion.

SOURCE: AZERNEWS.AZ