Foreign investors to launch new enterprises in Kazakhstan before late 2016

Thirty foreign investors will launch new enterprises in Kazakhstan in 2016, said the country’s minister of investment and development, Asset Issekeshev, addressing the Council of Foreign Investors, reports the press service of Kazakh Investment and Development Ministry.

Issekeshev said that in general the ministry actively works on over 200 initiatives of foreign investors in the manufacturing sector with potential investments in total worth over $40 billion.

Particular attention is being paid to the work with transnational corporations, he added.

The minister said that, for example, in July 2016 the Italian company Tenaris will launch production of premium junction oil pipes in the Mangystau region of Kazakhstan.

The Swiss nitrogen and phosphate fertilizer company EuroChem will begin construction of a fertilizer plant in the country, he said.

A center for new materials and additive technologies will be launched in Kazakhstan in 2016 jointly with the US company Materia, said Issekeshev.

He added that the center for financial technologies, FinTech, will be launched with IBM.

Issekeshev said the foreign investors are also implementing more than 60 projects in the agro-industry of Kazakhstan.

South Korea’s Lotte will start a project to produce confectionery, the French Lactalis and German Meggle will launch projects for manufacturing and processing dairy products in nine regions of Kazakhstan, while Italy’s Cremonini will build a modern combine for production of a wide range of processed meat products, he added.

Source: Trend