AI
Friday, January 07, 2005 9:33:31 PM
Kazakhstan's Foreign Direct Investments to Reach US$5 Billion in 2004
The most important foreign investor in the reference period was the United States. During the first three quarters of 2004, US investments reached US$1.174 billion (up by 45%). This sum is superior to the US' total investments in Kazakhstan over the entire year 2003 (US$1.088 billion).
This investment is expected as our grand strategists in Washington have turned to the legendary Caspian "Silk Road" to oil riches, reviving the dream of a trans-Caucasian oil pipeline that will fill the gas tanks of Europe, bring down prices rapidly – and hand over control of much of the world's hydrocarbons to U.S. corporate interests and their allies.
"Efforts are being redoubled to crank into action the various pipelines which are supposed to transport Caspian oil to Western markets. One of these is the Brody pipeline which runs between the Ukrainian town of that name and the Black Sea port of Odessa (a Russian city but also in UKRAINE). The Brody pipeline was initially supposed to take US-controlled Caspian oil to Western markets, but it has instead been pumping Russia oil, something the Americans do not like.
#msg-4674009
Kazakhstan has hydrocarbon reserves estimated at 100 billion barrels. By 2007, these reserves (including the Kashagan deposit which is the second largest in the world) will enable the country to become a major oil producing country and thus a major traveler on Washington’s ‘Silk Road’ if all goes according to plan.
China also has been working on a pipeline with Kazakhstan for the expanding Chinese market.
#msg-4675029
-Am
Kazakhstan's Foreign Direct Investments to Reach US$5 Billion in 2004
Friday January 7, 5:25 am ET
ASTANA, Republic of Kazakhstan, January 7 /PRNewswire/ -- Kazakhstan's economy received foreign direct investments of US$3.9 billion during the first nine months of 2004, up by 17.6% compared to the same period in 2003. This is of all CIS-countries the second highest capital inflow in volume (after Russia) and the highest inflow by capita. With US$1.2 billion the US is still by far the biggest investor. International analysts believe that, from 2004 onwards, the volume of investments will exceed US$5 billion per year.
According to the latest report of the National Bank of Kazakhstan, foreign direct investment in Kazakhstan reached US$3.917 billion over the first nine months of 2004. This is a rise of 17.6% compared to the same period the previous year.
The most important foreign investor in the reference period was the United States. During the first three quarters of 2004, US investments reached US$1.174 billion (up by 45%). This sum is superior to the US' total investments in Kazakhstan over the entire year 2003 (US$1.088 billion). The second biggest investor is the Netherlands, with investments reaching US$571 million over the same period (up by 34.7% year-on-year). The UK came third with US$529 million, growth of 23.7%.
The most attractive sector remains extraction of natural resources. An overall US$3.1 billion, i.e. 68.3% of the reference period's total investments went into this sector. US$1.9 billion went directly into the mining sector (up by 17.2% compared to the reference period), whereas US$1.2 billion were invested in geological exploration and prospecting activities (up by 78.6%).
However, even if the oil and gas industry will remain the most attractive sector in which to invest for years to come, other sectors are emerging. During the first nine months of 2004, foreign investments in the consumer goods industry grew by 50.7%, reaching US$164.4 million, whereas investments in transport and communications related industries rose by 6.6% over the same period to US$65.9 million.
Growth in non-oil sector is at least partially due to the government's economic development program "Strategy of Industrial and Innovation Development for 2003-2015," which aims to diversify the country's economy in order to reduce its dependence on oil. "Kazakhstan will take further measures to improve the investment climate," announced Kazakh President Nursultan Nazarbayev at the annual meeting of Foreign Investors Council last December in Astana. "The Republic devotes much attention to the enhancement of the legislation to protect investors' rights," he further emphasised.
The National Bank report states that the rise in Kazakhstan's foreign direct investment is considerable: From 1993 to 2003, the total volume of direct investments was US$15.25 billion. While from 1996 to 1999 an annual US$1.2 billion to US$2.1 billion were invested in Kazakhstan, the US$3-billion-mark was only slightly missed in 2000. Since 2001, the US$4 billion-mark has been exceeded every year: US$4.557 billion in 2001, US$4.106 billion in 2002 and US$4.608 billion in 2003. According to forecasts of US Department of Economy and Commerce, from 2004 onwards the volume of direct foreign investments in Kazakhstan should exceed US$5 billion per year.
About Kazakhstan
Kazakhstan is the largest and most modern of the Central Asian republics. The country proclaimed its sovereignty on the 26th of October 1990, and its independence on December 16th 1991. In the ensuing 12 years, the transition has been made between a panned and a market economy. The Geopolitical situation of the country makes it an inevitable bridge between Europe and Asia as well as the leading country of the region. An interesting fact is that Kazakhstan, a democratic and lay state, suffers neither from terrorism or ethnic confrontation.
Kazakhstan spans Europe and Asia from the Caspian Sea to the mountains of Central Asia. By its size (covering 2.7 million square kilometres), Kazakhstan is the 9th largest country in the world and its population (50% Kazakh and 37% Russian as well as Ukrainians, Volga Germans, Uzbeks, Koreans and Ouigours) is of 17 million.
The republic is divided into 14 regions, including a city-region (Almaty, the country's ex-capital). President Nursultan Nazarbayev was last elected by universal suffrage in 1999. The Kazakh legislature is bicameral, including a lower chamber, the "Majilis", with 77 representants (including 14 women as of the last legislature) elected through direct suffrage; and a Senate of 40 members, mostly elected through indirect suffrage with 7 named by the President - the term in the Senate is of 6 years.
After having undergone the highest growth of all CIS member states (including Russia) in 2001, the Kazakh GDP grew by 9.3% in 2002. Kazakhstan has hydrocarbon reserves estimated at 100 billion barrels. By 2007, these reserves (including the Kashagan deposit which is the second largest in the world) will enable the country to become a major oil producing country. Moreover, the abundant natural resources of Kazakhstan include uranium, chromium, silver, phosphor, nickel, coal and gold. Though the oil industry is the most dynamic sector of its economy, Kazakhstan's gaol is to push forward reforms which cover social issues, decentralisation, education, modernising the administration, agriculture and boosting the development of small and medium businesses.
Press Relations
Marston-Nicholson
Ivan Pandev
+33-1-42-96-67-46
i.pandev@group-ibc.com
http://biz.yahoo.com/prnews/050107/ukf003_1.html
The most important foreign investor in the reference period was the United States. During the first three quarters of 2004, US investments reached US$1.174 billion (up by 45%). This sum is superior to the US' total investments in Kazakhstan over the entire year 2003 (US$1.088 billion).
This investment is expected as our grand strategists in Washington have turned to the legendary Caspian "Silk Road" to oil riches, reviving the dream of a trans-Caucasian oil pipeline that will fill the gas tanks of Europe, bring down prices rapidly – and hand over control of much of the world's hydrocarbons to U.S. corporate interests and their allies.
"Efforts are being redoubled to crank into action the various pipelines which are supposed to transport Caspian oil to Western markets. One of these is the Brody pipeline which runs between the Ukrainian town of that name and the Black Sea port of Odessa (a Russian city but also in UKRAINE). The Brody pipeline was initially supposed to take US-controlled Caspian oil to Western markets, but it has instead been pumping Russia oil, something the Americans do not like.
#msg-4674009
Kazakhstan has hydrocarbon reserves estimated at 100 billion barrels. By 2007, these reserves (including the Kashagan deposit which is the second largest in the world) will enable the country to become a major oil producing country and thus a major traveler on Washington’s ‘Silk Road’ if all goes according to plan.
China also has been working on a pipeline with Kazakhstan for the expanding Chinese market.
#msg-4675029
-Am
Kazakhstan's Foreign Direct Investments to Reach US$5 Billion in 2004
Friday January 7, 5:25 am ET
ASTANA, Republic of Kazakhstan, January 7 /PRNewswire/ -- Kazakhstan's economy received foreign direct investments of US$3.9 billion during the first nine months of 2004, up by 17.6% compared to the same period in 2003. This is of all CIS-countries the second highest capital inflow in volume (after Russia) and the highest inflow by capita. With US$1.2 billion the US is still by far the biggest investor. International analysts believe that, from 2004 onwards, the volume of investments will exceed US$5 billion per year.
According to the latest report of the National Bank of Kazakhstan, foreign direct investment in Kazakhstan reached US$3.917 billion over the first nine months of 2004. This is a rise of 17.6% compared to the same period the previous year.
The most important foreign investor in the reference period was the United States. During the first three quarters of 2004, US investments reached US$1.174 billion (up by 45%). This sum is superior to the US' total investments in Kazakhstan over the entire year 2003 (US$1.088 billion). The second biggest investor is the Netherlands, with investments reaching US$571 million over the same period (up by 34.7% year-on-year). The UK came third with US$529 million, growth of 23.7%.
The most attractive sector remains extraction of natural resources. An overall US$3.1 billion, i.e. 68.3% of the reference period's total investments went into this sector. US$1.9 billion went directly into the mining sector (up by 17.2% compared to the reference period), whereas US$1.2 billion were invested in geological exploration and prospecting activities (up by 78.6%).
However, even if the oil and gas industry will remain the most attractive sector in which to invest for years to come, other sectors are emerging. During the first nine months of 2004, foreign investments in the consumer goods industry grew by 50.7%, reaching US$164.4 million, whereas investments in transport and communications related industries rose by 6.6% over the same period to US$65.9 million.
Growth in non-oil sector is at least partially due to the government's economic development program "Strategy of Industrial and Innovation Development for 2003-2015," which aims to diversify the country's economy in order to reduce its dependence on oil. "Kazakhstan will take further measures to improve the investment climate," announced Kazakh President Nursultan Nazarbayev at the annual meeting of Foreign Investors Council last December in Astana. "The Republic devotes much attention to the enhancement of the legislation to protect investors' rights," he further emphasised.
The National Bank report states that the rise in Kazakhstan's foreign direct investment is considerable: From 1993 to 2003, the total volume of direct investments was US$15.25 billion. While from 1996 to 1999 an annual US$1.2 billion to US$2.1 billion were invested in Kazakhstan, the US$3-billion-mark was only slightly missed in 2000. Since 2001, the US$4 billion-mark has been exceeded every year: US$4.557 billion in 2001, US$4.106 billion in 2002 and US$4.608 billion in 2003. According to forecasts of US Department of Economy and Commerce, from 2004 onwards the volume of direct foreign investments in Kazakhstan should exceed US$5 billion per year.
About Kazakhstan
Kazakhstan is the largest and most modern of the Central Asian republics. The country proclaimed its sovereignty on the 26th of October 1990, and its independence on December 16th 1991. In the ensuing 12 years, the transition has been made between a panned and a market economy. The Geopolitical situation of the country makes it an inevitable bridge between Europe and Asia as well as the leading country of the region. An interesting fact is that Kazakhstan, a democratic and lay state, suffers neither from terrorism or ethnic confrontation.
Kazakhstan spans Europe and Asia from the Caspian Sea to the mountains of Central Asia. By its size (covering 2.7 million square kilometres), Kazakhstan is the 9th largest country in the world and its population (50% Kazakh and 37% Russian as well as Ukrainians, Volga Germans, Uzbeks, Koreans and Ouigours) is of 17 million.
The republic is divided into 14 regions, including a city-region (Almaty, the country's ex-capital). President Nursultan Nazarbayev was last elected by universal suffrage in 1999. The Kazakh legislature is bicameral, including a lower chamber, the "Majilis", with 77 representants (including 14 women as of the last legislature) elected through direct suffrage; and a Senate of 40 members, mostly elected through indirect suffrage with 7 named by the President - the term in the Senate is of 6 years.
After having undergone the highest growth of all CIS member states (including Russia) in 2001, the Kazakh GDP grew by 9.3% in 2002. Kazakhstan has hydrocarbon reserves estimated at 100 billion barrels. By 2007, these reserves (including the Kashagan deposit which is the second largest in the world) will enable the country to become a major oil producing country. Moreover, the abundant natural resources of Kazakhstan include uranium, chromium, silver, phosphor, nickel, coal and gold. Though the oil industry is the most dynamic sector of its economy, Kazakhstan's gaol is to push forward reforms which cover social issues, decentralisation, education, modernising the administration, agriculture and boosting the development of small and medium businesses.
Press Relations
Marston-Nicholson
Ivan Pandev
+33-1-42-96-67-46
i.pandev@group-ibc.com
http://biz.yahoo.com/prnews/050107/ukf003_1.html
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