In Kazakhstan, during the roundtable of the Arab Coordination Group (ACG), an agreement was reached on substantial long-term direct investments in the country's economy.
In the initial stage, the investment amount could reach $7 billion, with the potential for further increases in funding, reports Trend.az.
The Arab Coordination Group, which includes several influential financial organizations such as the Islamic Development Bank, the Saudi Fund for Development, the OPEC Fund for International Development, the Kuwait Fund for Arab Economic Development, and the Abu Dhabi Fund for Development, has shown serious interest in the development of Kazakhstan's infrastructure and social sectors.
This reflects growing trust from international investors in Kazakhstan's economic potential and its strategic position in the region.
What projects are of interest to Arab investors?
During the meeting, the Kazakh side presented several priority projects in key sectors of the economy, including transport, energy, water resource management, and healthcare.
Special attention was given to the presentation of Kazakhstan's National Infrastructure Plan through 2030, demonstrating the country's long-term and strategic approach to economic development.
A significant outcome of the roundtable was the signing of several documents formalizing the agreements reached.
Among the documents signed were:
- The protocol of the roundtable meeting,
- A framework agreement on private sector operations between the government of the Republic of Kazakhstan and the OPEC Fund,
- A protocol of negotiations between Kazakhstan’s Ministry of Water Resources and Irrigation and the Islamic Development Bank.
These documents lay a solid foundation for implementing planned investment projects and open new opportunities for economic cooperation between Kazakhstan and Arab countries.
The attraction of such significant investments could serve as a catalyst for the accelerated development of Kazakhstan's infrastructure, which, in turn, will contribute to improving the population's quality of life and strengthening the country's position as a regional economic leader. Importantly, the investments are not only aimed at developing traditional sectors of the economy but also the social sphere, reflecting a comprehensive approach to the country's sustainable development.
Collaboration with the ACG opens up not only access to substantial financial resources for Kazakhstan but also the opportunity for the exchange of expertise and technology in infrastructure development and large-scale project management.
In the long term, the implementation of these projects could significantly enhance Kazakhstan’s investment attractiveness, create new jobs, and stimulate economic growth across various sectors.
CentralasianLIGHT.org
September 5, 2024