OREANDA-NEWS. June 03, 2008.  “We will be rendering support to all investments into the Kazakh economy”, Kazakhstan’s Prime Minister Karim Massimov said when speaking at the 2nd international investment forum “Karagandainvest – 2008”, reported the Official website http://en.government.kz.

“Kazakhstan remains open-armed to foreign investments. We welcome foreign investments and guarantee that we will be removing administrative barriers so that investors could feel comfortable”, K. Massimov said.

K. Massimov also pointed out that all the state-run long-term programs aimed at diversifying the economy, including the “30 corporate leaders” program and strategy of the innovation-driven industrial development “would be moving onward and getting government’s backing”.

“Today, irregardless of the negative processes enveloping the global economy, Kazakhstan’s economy is by and large defined by sustainable development”, said Kazakhstan’s Minister of Industry and Trade Vladimir Shkolnik when speaking at the investment forum.

“Q1 results show positive growth almost across the entire real sector: … industrial production output for the period under review totaled KZT 2,4 trillion, 3,7% up y-o-y; retail turnover grew by 4,3%; capital investments – by 16% to make up KZT 620 billion”, the Minister said.

“KZT 125 billion was injected into housing construction, including KZT 4 billion out of the state budget. This enabled us to commission over 1,5 million square meters of housing floor space".

“For the Q1 the number of small and middle businesses grew by 15,3% to reach 658 000. Products produced by S&MBs totaled KZT 438 billion, 5,2% y-o-y. This is happening in an environment where S&MBs lack current assets”, the Minister emphasized.

When speaking on the foreign trade, the Minister said that in the Q1 foreign trade turnover grew by 39%, reaching USD 23 billion. “In 2007 external trade turnover made up KZT 80.5 billion, 30% up. This year we plan to approach USD 100 billion”.