IN 2020, SAMRUK-KAZYNA TO ATTRACT KZT2.3 TRLNOF FOREIGN DIRECT INVESTMENT

IN 2020, SAMRUK-KAZYNA TO ATTRACT KZT2.3 TRLNOF FOREIGN DIRECT INVESTMENT

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10 September 2020

The volume of attracted foreign direct investment (FDI) in the second half of 2020 for the group of companies of JSC "Samruk-Kazyna "is expected to reach more than KZT1.1 trln. In total, in 2020, it is expected to attract FDI in the amount of KZT2.3 trln in 23 investment projects with the participation of the Fund's portfolio companies in such industries as oil and gas, chemical, energy and mining and metallurgical complex.

According to the World Investment Report, the world is expected to see a sharp decline in FDI by 40% from 2020 to 2021.

In the context of quarantine and disruption of global supplies, timely measures have allowed the Fund to contain a significant decline in FDI and achieve a target of 85% from the level of 2019. In 2019, the amount of FDI attracted by the group of companies Of the Fund amounted to KZT2.8 trln, or 30.3% of all FDI in the Republic of Kazakhstan.

At the same time, a number of industries with the participation of the Fund's group of companies demonstrate a steady interest of foreign investors. Projects in the energy sector include the construction of a 50mW wind farm in Yereimentau and a 60MW wind farm in the Shelek Corridor with a total FDI attraction of KZT30 bln. In the petrochemical sector - construction of the KPI gas chemical complex with the attraction of FDI in the amount of KZT271 bln. In the oil and gas sector – increasing the gas storage capacity in the Bozoi UGS with attracting investments in the amount of KZT7.2 bln and others.

Recall that in June this year, the international rating Agency S&P Global Ratings confirmed the long-term and short – term credit ratings of Samruk-Kazyna JSC at the level of "BB /B", the forecast is "Stable". S&P also confirmed the Fund's rating on the national scale "kzAA". In turn, Fitch Ratings assigned the Fund ratings at the level of "BBB", the forecast is "Stable" /"F2". Currently, the Fund ranks 21st in the top 30 sovereign wealth funds in the world in terms of assets.