US$180bln given to Kazakhstan after 1991 independence
Tuesday, May 20, 2014
ANKARA - Kazakhstan has received $180 billion foreign direct investment (FDI ), mostly from EU countries, in the last 23 years after its independence in 1991.
Kazakhstan, which is the world's largest landlocked country by land area, is one of the highest foreign direct receivers among all of the former Soviet-bloc countries.
According to data by the Ministry of Economy and Budget Planning of Kazakhstan, the oil and natural gas sectors have emerged as the largest recipient of foreign direct investments.
Netherlands was the largest investors in the country with $49 billion. It is followed by UK with nearly $25 billion. China has invested $18.2 billion and the U.S. with $18 billion.
According to International Crisis Group´s 2007 report of 'Central Asia's Energy Risks', Kazakhstan, the ninth largest country in the world, currently has the 11th largest proven reserves of both petroleum and natural gas.
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