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Monday 19 June 2017

Number of Foreign Companies in Kazakhstan Increased by 25% in 2016


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ASTANA (finprom.kz) — In 2016, the number of foreign businesses operating in Kazakhstan increased 25%, reaching 3,400 ventures. With the number of all businesses increasing 7%, the share of foreign companies augmented by 1% over the last year, amounting 6.9%.

Between April 2015 and April 2016, the number of foreign companies in trade increased by 24% or by 1,300 enterprises, reaching 6,700 ventures. In the same period however, the number of trade enterprises, with full or partial foreign participation, decreased by 155 units between. In addition, foreign business in services and construction grew by 464 and 423 enterprises respectively over the past year.

The report where these figures are published, remarks:

According to analysts, the growth of foreign companies accelerated inflows of foreign investment into the country’s economy. In 2016, gross inflow of foreign direct investment (FDI) increased 40% reaching $20.6 bln. Investments growth followed by a downturn in 2015, when inflows of FDI weakened to minimal volumes since 2006.

Until September, the Kazakh government is developing an investment strategy with the main objective to attract financial resources to the country’s economy. A major role will be given to the Astana International Financial Centre (AIFC). It is positioned as a financial hub for the countries of Central Asia, the Caucasus, Eurasian Economic Union (EAEU), Middle East, Western China, Mongolia and Europe. The centre will be located on the EXPO 2017’s site. AIFC will run on a special legal regime based on the English common law governing

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