ASTANA, Kazakhstan, November 24. The volume of gross inflow of foreign direct investment from Azerbaijan to Kazakhstan amounted to $1.2 million from January through June 2023, Trend reports.
The Ministry of National Economy of Kazakhstan said the bulk of Azerbaijani investments in Kazakhstan is concentrated in the energy sector, especially in the oil and gas industry.
At the same time, the ministry pointed out that one of the most important projects being implemented by the parties is the project to lay a fiber-optic communication line along the bottom of the Caspian Sea.
The project will allow Kazakhstan to have alternative communication channels to connect to the internet. The cost of the project is estimated at 22.8 billion tenge (about $49 million).
The volume of trade turnover between Kazakhstan and Azerbaijan reached $417.4 million from January through September 2023. This figure is a record compared to the same period in previous years, and also exceeds the figure for 9 months of 2022 by 31.9 percent ($316.4 million).
