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Kazakhstan aims to develop investment cooperation with Germany

Kazakhstan aims to develop investment cooperation  with Germany

Investment cooperation is among most important areas of economic ties between Kazakhstan and Germany development, the Ministry of Foreign Affairs of Kazakhstan told Trend.

Thus, according to the data of National Bank of Kazakhstan, the gross inflow of direct investment from Germany to Kazakhstan during the period from 2005 to 3H2018 amounted to $4.4 billion, which is 1.6 percent of total flow of investments to Kazakhstan.

In turn, the gross outflow of investments from Kazakhstan to Germany exceeded $250 million, the source in the ministry said.

"Over 90 percent of German investments to Kazakhstan accounts for non-raw materials sector, including processing industry, chemical sphere, construction materials manufacturing, transport and agricultural complex," the source said.

The source further stated, that during last four years two countries realized over 2 billion euro worth of joint projects in spheres of industrial manufacturing, mechanical engineering, construction, chemistry, energy, alternative energy sources, agricultural complex, trade and so on.

"The gross inflow of direct investments from Germany to Kazakhstan amounted to $183 million in 2018 alone, which is 35 percent less than compared to the same period of last year," the source said.

Countries realized investment projects worth over 190 million euro during 2018.

"Last year CLAAS company and akimat (administrative center) of North Kazakhstan region signed an agreement on construction of a plant for montage of combine harvesters and tractors of CLAAS brand with further localization of manufacturing. Furthermore, the successful realization of the project on construction of largest solar park in Central Asia, the capacity if which amounts to 100 MW in Saran city near Karaganda city. The project was realized with participants of German Goldbeck Solar GmbH company," the source in the ministry noted.

As at March 1, 2019 there are 900 legal entities, branches and offices registered in Kazakhstan with German participation. Only 450 units of them are operating ones, the source concluded.

 

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7 October 2019 12:32 -

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