US investment in Kazakhstan’s economy reaches $62.7B since 1993, reports Kazakh Invest

0
216
  • Kazakhstan’s exports to the US exceeded $1.15 billion, while imports stood at $1.89 billion
  • The gross investment inflow from the US surged by 82% in 2022, reaching over $5.1 billion, compared to $2.8 billion in 2021

ASTANA(Correspondent LP):The United States, as one of the major foreign investors in Kazakhstan’s economy, has injected a substantial sum of $62.7 billion into the country since 1993, according to an announcement by Ardak Zebeshev, the chairman of the Investment Committee of the Kazakh Foreign Ministry. The report was published by Kazakh Invest, the nation’s investment promotion company, on July 19.

A meeting held in Astana, with the participation of Kazakh Invest Chairman Meirzhan Yussupov and U.S. Ambassador to Kazakhstan Daniel Rosenblum, highlighted Kazakhstan’s keen interest in implementing various projects across key economic sectors, such as manufacturing, mining, pharmaceuticals, and agriculture.

Ambassador Rosenblum emphasized the United States’ commitment to developing the Trans-Caspian International Transport Route and other trade corridors within the Partnership for Global Infrastructure and Investment—an initiative proposed by the Group of Seven (G7) nations.

The parties discussed the successful visit of the US trade mission in June, which signaled a mutual desire to bolster economic ties.

Yussupov elaborated on Kazakh Invest’s efforts and the government’s measures to support investors, outlining new projects involving prominent American companies, including Honeywell, GE HealthCare, Wabtec, and Pfizer.

During the meeting, they explored potential areas for expanding bilateral cooperation and reviewed the operations of enterprises in the country.

Notably, the gross investment inflow from the US surged by 82% in 2022, reaching over $5.1 billion, compared to $2.8 billion in 2021.

Trade between the two nations also flourished, reaching $3.05 billion in 2022—a remarkable 37.2% increase from the $2.2 billion recorded in 2021. Kazakhstan’s exports to the US exceeded $1.15 billion, while imports stood at $1.89 billion.