Multi-Billion Dollar Projects in Central Asia: Why the Region Attracts Investors

Thursday, November 28, 2024, 09:40

A Round Table on Global Investments Held in Astana

Central Asia is increasingly attracting the attention of investors from around the world. This trend was evident from the data presented by participants at the Kazakhstan Global Investment Roundtable (KGIR) 2024, which was held in Astana.

The European Union has expressed its intention to invest $10 billion in the construction of the Middle Transport Corridor, which will connect four countries: Kazakhstan, Azerbaijan, Georgia, and Turkey.

Stability in Central Asian countries attracts investors willing to develop industries, including mining and the deeper processing of minerals, confirmed He Zhenwei, Chairman of the China Overseas Development Association, during his speech at the round table.

According to Matteo Patrone, Vice President for Banking Operations at the European Bank for Reconstruction and Development, the world is interested not only in Central Asian oil and gas but also in the region's human potential. Its favorable location allows for the development of transport infrastructure within the framework of 40 different projects, amounting to more than $18 billion in investments.

"Like Kazakhstan, Kyrgyzstan can participate in such projects. In recent years, world trade has changed significantly, especially in the transport and logistics sector. New routes from Europe to China and back are needed, along with corresponding logistics. The countries participating in trade and economic relations with Central Asia and China require an extensive network of road and rail communications," economist Iskender Sharsheev noted in an interview with Vesti.kg.

The region's geographic location facilitates the building of logistics and transport networks, the expert emphasized.

"Of particular interest is the deeper development of mineral resources for investors. Technologies and investments from BRICS countries are in demand here. Of course, there are specific issues that need to be addressed, such as the arbitration system necessary for the business sector, centers to support entrepreneurs, the transition to international law, and cases concerning the inviolability of private property—all of which will only increase the influx of investors," Sharsheev emphasized.

It should be noted that 32 agreements worth $7 billion were signed within the framework of KGIR 2024.

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