THE INVESTMENT DOCUMENTS WORTH $ 590 MILLION WAS SIGNED WITH MAJOR TURKISH HOLDINGS WITH THE ASSISTANCE OF KAZAKH INVEST
Today, on September 9, 9 investment documents worth 590 million US dollars were signed with the support of the Embassy of Kazakhstan in Turkey and KAZAKH INVEST National Company JSC. The agreements and memoranda were signed with the largest Turkish holdings such as Calik Holding, Yildirim Holding, Yildizlar SSS Holding, Agrobest Group and others.
Within the documents, it is planned to implement the projects for the production of building materials, machine-building products, chemical industry, mining and metallurgical sector, and energy in various regions of Kazakhstan.
It should be recalled that Turkish investors have implemented 18 projects worth $ 667.5 million over the past five years. The implementation of new 10 projects is planned in the near future.
It should be noted that after the visit of the President of the Republic of Kazakhstan to Istanbul in April 2016, there has been an increase in the investment interest in Kazakhstan from the representatives of Turkish small- and medium-sized businesses and multinational companies. Turkish companies consider Kazakhstan as a platform for placing their productions with the subsequent export of finished products to the countries of the EAEC and Central Asia. In addition, Turkish investors have begun actively reinvesting and increasing their production capacity in Kazakhstan over the past three years.
In general, a total package of Kazakh-Turkish investment initiatives includes 70 projects worth $ 2.7 billion, 31 of which have been implemented and about 40 of which are being implemented and promising to date. The inflow of FDI in the Republic of Kazakhstan from Turkey amounted to $ 2.1 billion from 2005 to the 1st quarter of 2017. The foreign trade turnover has amounted to $ 925.1 million for 6 months of 2017 (an increase by 36.1% with the same period in 2016). 4,114 legal entities were registered in the Republic of Kazakhstan as of July 1, 2017, 1,831 of which are active.
It should also be noted that the Kazakh-Turkish industrial area (KTIA) has been established in the Ordabasinsky district of the South Kazakhstan region. The total area of the territory is 50 hectares with the possibility of expanding to 250 hectares. In 2017, it is planned to put into operation a plant for the production of profiles and translucent structures made of PVC and aluminum of Gold Aluminum LLP. In addition, it is planned to start construction of the plants by the companies Merkez Asia Madencilik (lead concentrate) and Petronet Otomosyon (fuel dispensers) worth $ 12 million.
At the same time, the negotiations are currently under way with 8 Turkish companies, including the construction of furniture factory of Madeyra Group LLP with an investment volume of 10.7 million US dollars.