Astana Forum: Nazarbayev: $255 billion in investments since independence

Astana Forum: Nazarbayev: $255 billion in investments since independence

Editorial Staff
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According to the Kazakh President, this flow of money from abroad is an indicator of confidence in the country and in the reforms being carried out"

Kazakhstan, over its years of independence, has attracted direct foreign investments amounting to $255 billion. This was announced yesterday by President Nursultan Nazarbayev during his speech to the plenary session of the Astana Economic Forum. "We have been able", said Nazarbayev, "to establish an effective partnership with international cooperation. I thank all of the companies that have given credit to our country and shown faith in it." According to Nazarbayev, this flow of money from abroad is "an indicator of confidence in the country and in the reforms being carried out." "Kazakhstan", he said, "is a young country. This year, we celebrate the twenty-fifth anniversary of our independence and, after a quarter of a century, we are now ranked in the 50 most competitive economies in the world". Despite the economic crisis that hit the country due to the fall in oil prices and the Russian recession, the Kazakh President stressed, "we are implementing an industrial and innovative policy and we are investing in infrastructure thanks to the funds accumulated before the crisis." The country’s volume of international reserves, he explained, including those of the National Fund, amount to $95 billion, equal to 50% of the GDP." Part of the country’s revival strategy includes environmental issues. "The G-Global initiative is of the utmost importance," said Nazarbayev who suggested the launch of a Global Roadmap for the development of a sustainable economy and the rationed use of natural resources on the basis of the Paris agreements.