OREANDA-NEWS. October 24, 2008. Over 150 Kazakhstan-based and foreign companies out of 24 countries are taking part in the Forum, reported the Official website http://en.government.kz.

Today Astana hosted the 1st Agroinvest.kz, an International Agribusiness Investment Forum.

“The fact that Kazakhstan is hosting this forum underlines readiness of our nation to contribute to global efforts to ensure food security. In the recent years this [food security-related] humanitarian problem has intensified, posing greater risks to social and political stability in many countries”, read Kazakhstan’s Prime Minister Karim Massimov from the Address of the President Nursultan Nazarbayev to the Forum.

“According to the World Bank, agrarian sector is ranked 2nd after the oil sector in terms of investments efficiency”, stated the Address.

“I would like to emphasize that the Kazakhstan’s national economy is worth about USD 100 billion. As is known, by the end of the year, USD 10 billion is to be injected into the economy out of the National Welfare Fund plus USD 5 billion out of the National Bank to boost liquidity. A lion’s share of these funds will be channeled to develop the agriculture sector of Kazakhstan”, announced Karim Massimov at the opening of the Forum.

Over 150 Kazakhstan-based and foreign companies out of 24 countries are taking part in the Forum. About 150 investment projects totally worth over USD 2 billion are to be unveiled at the event. Besides, memoranda are to be signed among the Kazagro national holding company, Food and Agriculture Organization of the United Nations and the China Development Bank.