During the recent KGIR-2024 round table on global investments, chaired by Prime Minister Olzhas Bektenov, a memorandum was signed between the Akimat of the West Kazakhstan region and South Korea’s Hyundai Solar KZ 777. The South Korean company is set to invest KZT 81.4bn ($167mn) into four major projects, which are expected to create around 120 new jobs and bolster the local economy.
The annual event serves as a key platform for government agencies and the international investment community to address pressing issues and develop forward-looking investment strategies. This year’s discussions centered on global investment trends and the future outlook of world markets, drawing participation from regional akims, heads of multinational corporations, major investors, and industry experts.
Akim (mayor) of the West Kazakhstan Region, Nariman Turegaliev, highlighted the government’s commitment to fostering a favorable investment climate.
“Attracting investments and creating comfortable conditions for business remain key priorities outlined by the head of state,” Turegaliev stated.
He stressed the importance of the round table as an opportunity to engage with potential investors and showcase the region’s investment potential.
He further emphasized the supportive environment established for investors in West Kazakhstan, noting the favorable climate, advanced infrastructure, and strong industrial and logistics capabilities.
“High-tech production facilities have been opened in the region, demonstrating real economic potential and stability for future growth,” he added.
In the past three years, the region has seen substantial investments, with a total of KZT 1.6 trillion ($3.27bn) in fixed assets, including a notable KZT 645.6bn ($1.32bn) by the end of 2023, reflecting a 16.4% increase compared to previous years.
Among the four projects planned with Hyundai Solar KZ 777 are the construction of a waste processing and incineration complex, a greenhouse complex, and a solar power plant, all set for implementation between 2024 and 2026.
