Kazakh Invest, Kazakhstan’s national company for attracting foreign investments, is looking to draw at least $500 investments to its strategic agribusiness industry in the next few years.
As part of the country’s long-term development strategy, Kazakhstan has identified strategic sectors to attract foreign investment. Agribusiness is one of the key sectors. “The current investment in the sector is 39 billion Kazakhstani Tenge (over $100m). We are targeting to attract a fivefold of this in the next five years”, Ulbolsyn Sarybayeva, Managing Director, Kazakh Invest told The Peninsula.
Speaking on the sidelines of ‘Kazakhstan investment forum’ here yesterday, Sarybayeva said the Kazak Invest, headed by the country’s Prime Minister, will hold discussions with Qatar’s Hassad Food. The investment company is also in talks with the US, Russia and many European countries.
With an expanse of over 210m hectares of dedicated agricultural lands, Kazhakstan is set to launch several projects in the fruits and vegetables, meat, dairy and poultry production. There are huge opportunities available for Qatari investors in this sector, who can ensure attractive returns supported by the government’s investment incentives. Qatari companies and individual investors can not only explore the opportunities in these strategic sectors, but can partner with our country to realise Qatar’s ambitious food security program”, she said.
“Qatar is one of the members of Kazakhstan’s Islamic food security committee. We can together work and support the food security program of Qatar and other member countries. Kazakhstan has long-term program for the development farming for 2018-2027”, Sarybayeva added.
Dairy industry is another strategic sector. Around 31 percent of milk manufactured in Kazakhstan is processed. Large producers occupy only 5 percent of the local market. The programme to boost dairy sector include creation of new industries; increase of livestock productivity by establishing reproduction technology; introduction of irrigated land for feed production; modernization of processing capacity and improving quality and range of products for import substitution.
Sarybayeva said the country has identified 11 regions which has ideal climatic condition for boosting its dairy sector. Kazakhstan’s domestic production covers only 80 percent of the local consumption. The export potential covers Turkmenistan, Uzbekistan, Kyrgystan, China, Russia, Magnolia, Tadjikistan and the GCC region.
In order to boost the fruits and vegetables production, 14 regions have been identified as the most ideal areas to launch several projects. More than 500,000 hectares are available for growing the produces. Currently, the area of irrigated land is 1.5million hectares and by 2021 it is expected to expand by and 2 million hectares. These are best available opportunities for Qatari investors , she said.
Source from: The Peninsula