Russia's direct investment to Kazakhstan down 19.7% in 2022 — republic’s MFA

Business & Economy July 20, 2023, 12:04

Almas Aidarov noted that investments from China also decreased "due to COVID-related restrictions that still persisted there"

ASTANA, July 20. /TASS/. Gross inflow of direct investment to Kazakhstan from Russia fell by 19.7% in 2022 to $1.5 bln, Deputy Foreign Minister of the Republic of Kazakhstan Almas Aidarov told a briefing on Thursday.

"The traditional top ten countries that are donors to our economy, are the Netherlands, the US, Switzerland, Belgium, Russia, Ukraine, China, France, the UK and Germany. Last year saw an increase on almost all countries, excluding Russia, for obvious reasons," he said.

Investments from China also decreased in 2022, Aidarov noted, adding that "it was due to COVID-related restrictions that still persisted there."

The gross inflow of direct investment from Russia to Kazakhstan were down by 19.7% to $1.5 bln last year, from China - down by 22.4% to $1.4 bln, from the US - up by 81.9% to $5.1 bln, according to figures released.

Overall, gross foreign direct investment (FDI) inflow to Kazakhstan amounted to $28 bln in 2022, up by 17.7% compared with 2021 ($23.8 bln), hitting a record level in the past 10 years. This year the republic’s authorities plan to attract $24.4 bln worth of such investments.

Read more on the site →