Kazakh National Fund to implement new projects worth about $6B
ASTANA. August 10, 2015, 16:53 (10:53 GMT). BNews.kz
In 2015, Kazakh National Welfare Fund “Samruk-Kazyna” plans to commission 20 projects worth $5.9 billion, Chief Business Development Director of “Samruk-Kazyna” JSC Berik Beisengaliyev said Aug.10 at a press conference, the message of the fund said.
About 11,000 temporary and about 6,000 permanent jobs will be created as the result of this, the message said.
Beisengaliyev also said that the fund is working hard to attract investments.
The investment portfolio of the fund currently consists of 161 projects worth about $121 billion. In the overall structure of the financing of investment projects of the fund, its own funds amount to about 27 percent, loans – 73 percent. Thus, three dollars of foreign investment are attracted for every invested dollar of the fund, Trend reported.
“Creating a favorable investment climate is one of the key objectives of the fund,” Beisengaliyev said. “The fund is actively working to establish cooperation with leading anchor investor companies from the CIS countries, Europe, USA and Asia.”
He also said that the fund plans to shift to investments in priority sectors of the economy with a focus on non-extractive sector within the framework of the transformation program. The priorities during the selection of projects will become the diversification of Kazakh economy, the creation of new industries with an innovative component, as well as the transfer of new technologies.
Article was published at www.bnews.kz