South Korea to Invest Over KZT 81 Billion in West Kazakhstan Development Projects

Astana, The Gulf Observer: The Kazakhstan Global Investment Roundtable (KGIR 2024) convened in Astana, marking a pivotal annual event that gathers state bodies and international investors to address key global investment trends and explore future strategies. This year’s roundtable, as reported by the West Kazakhstan governor’s press service, focused on aligning Kazakhstan’s investment framework with global economic shifts.

In his address, West Kazakhstan Governor Nariman Turegaliyev emphasized the importance of attracting investments and fostering a conducive business environment as strategic priorities set by the Head of State. He highlighted that the roundtable serves as a crucial platform for strengthening partnerships with potential investors and showcasing the investment opportunities across Kazakhstan’s regions.

Governor Turegaliyev underscored that West Kazakhstan has established a favorable climate for investors, complete with advanced infrastructure and a robust industrial and logistics base. The region has successfully launched high-tech industries, signaling a stable economic environment and potential for sustained growth. Over the past three years, the region’s capital investments have reached 1.6 trillion tenge, reflecting a 16.4% increase over previous years.

A key highlight of the roundtable was the signing of a memorandum between the akimat of West Kazakhstan and South Korea’s Hyundai Solar KZ 777. Under this agreement, Hyundai Solar KZ 777 will develop four projects valued at 81.4 billion tenge, expected to create 120 new jobs in West Kazakhstan. The projects, slated for 2024-2026, include the construction of a waste treatment complex, a greenery, and a solar panel manufacturing facility, enhancing the region’s industrial and environmental footprint.