Kazakh PM: Competition for investment, technology increasing importance of Eurasian region

The Eurasian region is gaining particular importance as a space for new opportunities for economic growth and cooperation, reads an address by Kazakh Prime Minister Olzhas Bektenov to participants of the Annual Meeting and Business Forum of the Eurasian Development Bank (EDB), read by the country's Minister of Finance, Madi Takiyev, Report informs.

The address notes that the global economy is undergoing a period of profound transformation: trade routes are shifting, new production chains are emerging, and competition for investment, technology, and human capital is intensifying.

"Under these conditions, the Eurasian region is gaining particular importance as a space for new opportunities for growth and cooperation. Today, almost 70% of investments in Kazakhstan's fixed capital are provided by the business sector," reads the address.

The prime minister also emphasized the significant role of the EDB in supporting the country's economic development.

"As part of the bank's 2022–2026 strategy, total investments reached $9.2 billion, of which $5.2 billion went to Kazakhstan's economy. This is comparable to the bank's investment in the country over the previous 15 years," the statement noted.

According to the head of government, cooperation with Kazakhstan opens up broad opportunities for joint investment projects.

"An open-door policy for foreign investment remains one of Kazakhstan's strategic priorities," Bektenov emphasized.