OREANDA-NEWS. May 25, 2010. Kazakhstan has enough internal resources to overcome repercussions of the global financial crisis. The National Oil Fund has accumulated about USD 52 billion, announced Kazakhstan’s Minister of Economic Development and Trade Ms. Zhanar Aitzhanova at the OSCE`s Trans-Asian Parliamentary Forum "Eurasian Dimension".

Zhanar Aitzhanova noted that the efforts taken by the Government to overcome the financial crisis had brought tangible results. She reminded that the Government had allocated about USD 10 billion out of the National Fund. Over 2500 S&MBs have enjoyed state support in the form of mild loans and subsidies. Over 4700 new jobs have been created under the government’s anti-crisis programs. GDP per capita in Kazakhstan reached USD 6685. Since 2001 the country has attracted FDI worth USD 108 billion. “Today the Government is interested in the investments being distributed among non-extraction industries. The investments law puts in place equal conditions for foreign and domestic investors and facilitates investments into non-extraction industries. Measures are taken to reduce barriers to business”.

She emphasized that the major priority for the Government is economy diversification, including through the Accelerated Industrialization Program for 2011-2014. “Petrochemistry, pharmaceuticals, tourism and sports are of prime importance”. She stressed that the Customs Union of Kazakhstan, Russia and Belarus opens new opportunities for Kazakhstan’s businessmen.