Kazakhstan Leads North and Central Asia in Attracting $15.7 Billion in Investments
Astana, The Gulf Observer: Kazakhstan has emerged as a leader in attracting investments for new projects in the North and Central Asia region, according to a recent report by the Economic and Social Commission for Asia and the Pacific (ESCAP) of the United Nations.
The ESCAP report, which outlines investment trends in the region for 2024, reveals that Kazakhstan attracted a substantial $15.7 billion for new projects, securing its position as the top destination for investments in the region. This marks an 88 percent increase in investments compared to 2023, with Kazakhstan accounting for 63 percent of the total investments in North and Central Asia.
The report highlights the sustained commitment of international companies to diversify their strategies and focus on key areas such as green energy, digitalization, and technological innovation. It emphasizes that the proactive efforts of investment agencies and relevant ministries are vital for ensuring the success of new initiatives. “The success of new directions depends not only on creating favorable policies but also on supporting investors at all stages, including post-investment support,” the report states.
Following Kazakhstan, other countries in the region saw varying investment levels: Uzbekistan attracted $4 billion (a decrease of 49 percent), Kyrgyzstan secured $2.1 billion (a remarkable increase of 310 percent), Azerbaijan received $1.2 billion (a slight increase of 1 percent), Turkmenistan obtained $339 million, Georgia received $126 million, and Armenia secured $67 million.
Kazakhstan’s economic growth has been further supported by a significant influx of investments, surpassing KZT 15 trillion in 2024, underscoring the country’s pivotal role in the regional economy.
This impressive performance underscores Kazakhstan’s growing prominence as a key investment hub in the Central Asian region, demonstrating its strategic efforts to foster a favorable environment for global investors.
