The direct investments in Kazakhstan in 1999 can make $1.2 bln

/IRBIS, Oct.06, 99/ - According to REUTERS, which cites Chairman of the Investments Agency of Kazakhstan Dulat Kuanyshev, direct foreign investments in Kazakhstan in 1999 can be on the last year's level - $1.2 billions, in six months of the current year $460 million was attracted in the country (more than in corresponding period of 1998). At the today's conference, wich was curried out in connection with the annual oil and gas exhibition KIOGE-99 which is helding now in Almaty, the minister of the finance Uras Dzhandosov has told, that up to 70% of all direct foreign investments are directed in the oil and gas sector of Kazakhstan. In opinion Kuanyshev, the sale of the state share blocks of the five largest joint-stock companies ("blue chips") to the strategic investors can help to increase the direct investments. The data of holding of the advisers tender were prolonged for the strategic investors till October 15, therefore terms of state share blocks selling are also postponed. The future advisers should offer to the Government the script of sale of the state share blocks of following enterprises: oil producers Aktobemunaigas (30%) and Mangistaumunaigas (15.5%), Ust'-Kamenogorsky titanium- magnesium combine (UKTMK - 27.64%), Kazzink (35%) and Kasakhmys (35%). Last year Kazakhstan could not sell it under the "blue chips" program to the portfolio investors "because of crisis in the international share market.