BAKU, Azerbaijan, November 22. Kazakhstan's companies invested about $67.8 million in Central Asian countries from January through June 2023, Bauyrzhan Kudaibergenov, vice minister of National Economy of the Republic of Kazakhstan, told Trend.
As he noted, the most investments were made in Uzbekistan during this period - $31.7 million. This is followed by Kyrgyzstan at $27.4 million, Turkmenistan at $5.8 million, and Tajikistan at $2.9 million.
"Unfortunately, the volume of investments decreased by 35.5 percent compared to the same period last year. Of course, external factors (geopolitical events, increased sanctions opposition, disruption of the logistics system, and high inflation) directly affect global flows of foreign direct investment," the vice minister said.
Kudaibergenov noted that a decline in investment activity is also observed around the world.
The vice minister also revealed attractive areas for Kazakh investors in Central Asian countries.
"As for the attractiveness for Kazakh investors, the main areas of mutual cooperation are light industry, transport, trade, agriculture, the financial sector, and other areas of the economy," he concluded.
Kazakhstan’s trade turnover with Central Asian countries in 2022 amounted to $7.9 billion. This figure is 25 percent more than in 2021.
As previously stated by the Minister of National Economy of the Republic, Alibek Kuantyrov, Kazakhstan can increase supplies of finished and processed products, including agricultural products, to the countries of the Central Asian region.
According to him, the Central Asian countries are landlocked, and, given their geographical location, the states of the region should focus on cooperation and joining efforts aimed at diversifying the economy, as well as strengthening trade, economic, and investment ties.
