Astana — Investments in Kazakhstan are now under additional reliable protection. President Kassym-Jomart Tokayev has signed a decree titled “On measures to improve the effectiveness of work to attract investment in the economy of the country.”
This decree has enhanced the Council for Attracting Investment (Investment Headquarters), authorizing it to make decisions binding on central and local government agencies, as well as subjects of the quasi-state sector. It can also develop temporary regulations with the force of law. Furthermore, the head and members of the Investment Headquarters, along with heads of state bodies and subjects of the quasi-state sector, are personally liable for the non-execution of its decisions.
Established in 2021, the Investment Attraction Council (Investment Headquarters) is tasked with developing proposals and recommendations for investment projects within the Republic of Kazakhstan. These projects aim to intensify work with potential investors in line with the state policy on investment attraction and address issues requiring decision-making at the Government leadership level.
According to the National Bank of Kazakhstan, the inflow of foreign direct investment into Kazakhstan’s economy remains consistently high. In 2021, the investment amounted to $23.8 billion; in 2022, it exceeded $28 billion; and in the first half of 2023, it reached $13.3 billion. The majority of these investments continue to flow into the extraction of raw materials. In 2022, oil and gas extraction attracted $9.6 billion in investment, significantly overshadowing the $4 billion in metals, $635.6 million in the electricity sector, and a mere $177.9 million in the food and beverage industry.