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Kazakhstan leads post-Soviet era in attracting investment in space

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Astana

According to the United Nations Conference on Trade and Development (UNCTAD) report on global investment for the year 2022, Kazakhstan has the highest indicator among post-Soviet countries. Net inflow of Foreign Direct Investment (FDI). The amount for Kazakhstan is USD 6.1 billion, which is the highest figure in the last 5 years and is 83 per cent higher than in 2021. This is the highest indicator among post-Soviet countries, reports Kazakh Invest.gov.kz.

Concerning net FDI inflows, Kazakhstan ranks first in the post-Soviet era. Uzbekistan with US$2.5 billion, Lithuania with US$2.2 billion, Georgia with US$2 billion, Belarus with US$1.6 billion, Latvia with US$1.5 billion, Estonia with US$1.2 billion, Armenia 998 followed by Turkmenistan with USD 936 million, Ukraine with USD 848 million, Moldova with USD 587 million, Kyrgyzstan with USD 291 million, and Tajikistan with USD 174 million, KazakhInvest reported. Together.

Azerbaijan and Russia are at the bottom of the list showing negative results of -US$4.5 billion and -US$18.7 billion respectively. Notably, net FDI inflows into Central Asia increased by 39 per cent to US$10 billion, with Kazakhstan accounting for 61 per cent. In addition, net FDI inflows to 32 landlocked developing countries increased by 6 per cent, led by Kazakhstan. According to the Kazakh Investment Report, Ethiopia is in second place with US$ 3.7 billion, Uzbekistan with US$ 2.5 billion and Mongolia with US$ 2.5 billion.

The national company Kazakh Invest JSC was established on March 1, 2017, by Resolution No. 100 of the Government of the Republic of Kazakhstan “On Renaming the National Export and Investment Agency Kazakhnex Invest Joint-Stock Company for the Promotion of Sustainable Economy” Socio-economic development of the Republic of Kazakhstan through comprehensive support for investment projects and attracting foreign investments in priority areas. Additionally, Kazakhstan ranks 5th among developing economies in terms of attracting net investment in renewable energy projects totalling US$56.3 billion during the period 2015-2022. The results of the report suggest that global net FDI inflows are set to decline by 12 per cent to US$ 1.3 trillion in 2022 after a significant increase in 2021. The main reason for this decline is the conflict in Ukraine, high food and energy prices and rising government debt. countries around the world.

The decline mainly affected developed countries, where net FDI inflows declined by 37 per cent to US$ 378 billion. Meanwhile, flows to developing countries increased by an average of 4 per cent. The United Nations Conference on Trade and Development (UNCTAD) is the main body of the United Nations General Assembly in the field of trade and investment. It was established in 1964 and is headquartered in Geneva, Switzerland. Within the United Nations system, UNCTAD serves as a coordinating centre for development issues and related topics in trade, finance, technology, investment and sustainable development. Its main tasks include promoting global economic development through the development of recommendations, principles, organizational and legal conditions and mechanisms for the functioning of modern international economic relations. The organization conducts research and policy analysis, intergovernmental meetings, technical cooperation, and dialogue with civil society and the business sector.

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