Deputy PM: Eighty percent of foreign direct investments in Central Asian region fall to Kazakhstan

Azerbaijan, Baku, April 8 / Trend S.Aliyev / The unemployment in Kazakhstan has recently kept at a stable level not exceeding 5.5 per cent, Kazakh First Deputy Prime Minister Bakytzhan Sagintayev said at the meeting of the World Economic Forum in Baku on Monday. "According to the specialists, Kazakhstan is one of the most attractive CIS country for investments," he said. "More than $160 billion foreign direct investments have been attracted since 1993." According to Sagintayev, 80 percent of foreign direct investments in the Central Asian region fall to Kazakhstan. Kazakhstan's financial potential, international reserves, including the funds of the National Fund, which reached $87 billion are being consolidated, he said. "The rating of the World Economic Forum, according to which Kazakhstan ranked 51st in the Global Competitiveness Index, moving over the year to the 21st position in the group of countries with a high level of development testify to the country's success," he said. "A new stage of the world development associated with innovations, the latest knowledge and technologies, needs modernization of economic foundation of the country." In this regard, a program of forced industrial development of the country, aimed at diversifying the domestic industry has been implemented since 2010, he said. Today Baku is hosting the meeting of the World Economic Forum (Davos Forum) "Strategic Dialogue on the Future of the South Caucasus and Central Asia" on Monday. Do you have any feedback? Contact our journalist at agency@trend.az