PETROPAVLOVSK: The Qyzyljar Investment 2024 international investment and construction forum with the participation of domestic and international companies planning to work in the region opened in Petropavlovsk city, North Kazakhstan region on Friday.
The forum brought together representatives of companies from Kazakhstan, China, Italy, Turkiye, Russia, and the Baltic countries.
Eighteen memorandums to the tune of around $230 million, including on construction of tractor and brick plants, will be inked. The region has the special economic zone Qyzyljar, where conditions have been created to launch investment projects. The projects are underway in the zone, which has twenty participants, said deputy head of the entrepreneurship and industrial and innovation development department of the region Nurzhan Sadykov.
Favorable investment climate in North Kazakhstan region
Governor of North Kazakhstan region Gauyez Nurmukhambetov said that the region has a favorable investment climate. It has the aim of transiting to an agrarian and industrial economy.
The industrial production stood at $1.4 billion last year, 84 percent of which falls at the manufacturing sector. Most of investments are funneled in agriculture – 40 percent.
As the governor said, the region has welcomed fifteen new companies with foreign participation over the past 3 years with the help of the Qyzyljar economic zone. Construction has witnessed a 70 percent growth in the past three years.
