Atyrau region leads Kazakhstan's investment drive
Deputy Foreign Minister of Kazakhstan Alibek Kuantyrov participated in a meeting of the Regional Investment Headquarters, Qazinform News Agency cites the Kazakh MFA press service.
The meeting covered issues related to several investment projects crucial for the socio-economic development of the region. Particular attention was paid to attracting financing, improving the regulatory framework, developing infrastructure, and state support for investors.
Alibek Kuantyrov noted that the Atyrau Region is one of the country's key economic centers, accounting for over 60% of oil production and approximately 80% of gas production in Kazakhstan. He emphasized the importance of further diversifying the region's economy, developing the petrochemical complex, energy, logistics, and high-value-added manufacturing.
The goal of Government set to increase Kazakhstan's economy to $450 billion by 2029 and attracting at least $150 billion in foreign direct investment was also noted. In this regard, the effective operation of regional investment headquarters and the development of high-quality regional investment portfolios are of particular importance.
The meeting addressed the implementation of strategic projects by companies as Sillen, KMG PetroChem, Atyrau Carriage Works, Fibratex and Butadiene, as well as initiatives to expand the region's tax base by registering contractors and subcontractors in the Atyrau region.
A separate discussion focused on the development of the Atyrau Special Economic Zone, including the construction of utility infrastructure and the expedited approval of the SEZ's internal regulations.
As part of his working visit, Alibek Kuantyrov also visited several industrial enterprises in the region. During his visit to Talshykteks LLP, the development of textile production and the implementation of projects for the advanced processing of raw materials were discussed. At Fibratex LLP, the prospects for expanding the plant's production capacity and measures of state support for investment initiatives were discussed.
Currently, a pool of 60 investment projects has been formed in the Atyrau region, totaling over 7 trillion tenge and creating over 6,000 permanent jobs. The implementation of these projects will further diversify the region's economy, strengthen its industrial potential, and enhance its investment attractiveness.
Qazinform News Agency reported earlier that Kazakhstan intends to boost non-commodity exports to Sweden.