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Foreign companies to invest in new projects in Almaty

9 August 2018 17:07 442
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Foreign companies to invest in new projects in Almaty

ALMATY. KAZINFORM - It is planned to implement 11 investment projects totaling over $400 million with the participation of foreign companies in Almaty, Zhandos Orazaliyev, Director of the office of Kazakh Invest National Company JSC, told a briefing at the regional communications service, Kazinform correspondent reports.

According to the company, Almaty attracts more and more international investment. In the first half of 2018 alone, the investment in the fixed capital of the city was about US$851 million, which is 22.7% more than a year ago. The share of international investment reached $129 million.

"Almaty is the most attractive city for doing business. The number of registered foreign companies in Almaty is about 7,500. Presently, we are guiding 11 projects, which attracted a total of $414.8 million international investment, being implemented in Almaty. They will create more than 3,000 jobs," said Zhandos Orazaliyev.

These projects are intended for the manufacturing industry and trade.

"This year, it is planned to launch seven projects totaling $252 million. For instance, the $100 million project for the welded pipes production by a Chinese company, the $20.3 million project for the manufacture of cabling and wiring products by a Russian company, the project for assembling Eurabus electric buses with German investment for about $44 million. The largest Japanese company's engineering systems plant for over $10 million and $32 million construction materials hypermarket of Leroy Merlin, a French brand, are already operating. Such construction materials hypermarkets are expected to open in two more districts. The projects are under consideration," added Orazaliyev.

According to the investment company, there are five more projects worth about US$73 million under development.

"These include the construction of the largest hypermarket of Decathlon, a French company, the construction of a laundry complex of Cotton Way, Russia's market leader for rental and professional handling of textile, the expansion and construction of Nobel AFF's new plant with Turkish investment, the construction of a tubular goods manufacturing plant of CNPC of China, and so on," the speaker said.

Besides, the national investment company cooperates with local entrepreneurs who proposed 24 projects in such industries as machine building, tourism, food industry, and medicine. The projects require $2.4 billion investment.

The national company's representative said all the above projects are being implemented within the framework of the National Investment Strategy and the 2016-2020 Almaty City Development Program.


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