Samruk-Kazyna National State Fund has raised over $4 billion of French investments, the press-service fund.

"The French AREVA is implementing a joint project with Kazatomprom in nuclear energy, and we have a joint venture with Eurocopter /EADS for production of helicopters. In addition, a consortium of French companies participates in the production of photovoltaic modules from Kazakhstan silicon, railway management automated system and Alstom switches," said SK Deputy Chairman Kuandyk Bishimbayev at the Kazakh-French Business Council.

The National Bank of Kazakhstan has brought the refinancing rate down from 7.5% to a record low level of 7%.

"Regarding the trends in the financial markets and inflation slowdown, the National Bank has set the official refinancing rate at 7% to come in effect since February 14, 2012," the bank said.

The 7.5% refinancing rate has been in effect since March 9, 2011.

The National Bank of Kazakhstan keeps its option open for further reduction in the refinancing rate in April this year.

The National Bank of Kazakhstan does not see a reason to revise the existing inflation band of 6-8%, the bank's Chairman Grigory Marchenko said.

"We will not revise the inflation band for now," Marchenko said at a press conference in Almaty.

According to Marchenko, if inflation decreases in 2012, the allowed inflation band may be lowered in 2013.

"Last year inflation was near the upper limit of the band. If this year inflation is near the lower limit - at 6.2-6.3% - then we may revise the inflation band for the next year," he said.

Minister of Economic Development and Trade Kazakhstan Bakytzhan Sagintayev has been put on the Board of Directors of the National Welfare Fund Samruk-Kazyna.

Asset Isekeshev, Minister of Industry and Trade, has kept his post on Samruk-Kazyna Board. Both Deputy Prime Minister Kairat Kelimbetov and Deputy Head of the Presidential Administration Bakhyt Sultanov have been reelected as Samruk-Kazyna board directors.

The U.S. Ambassador to Kazakhstan Kenneth Firefax says that Kazakhstan will be becoming more attractive for the investors.

"I think Kazakhstan will join WTO in 2012 and become even more attractive," he told a Wednesday press conference in Astana.

According to him, Kazakhstan will be becoming more and more attractive for the investors. He said that the U.S. Embassy and U.S. government was closely working with the Kazakh government in various areas so that Kazakhstan could become more economically attractive.

Interfax-Kazakhstan

Kazakh President Nursultan Nazarbayev has hold a number of meetings with Germany's leading economic associations, banks and companies, while visiting this country, the president's press office says in a press release.

"The directors of the German companies noted that the Kazakh government provided adequate protection of the rights and interests of business entities and its national policy contributed to better business environment," according to the press release.

In 2011 the Kazakh issuers repaid bonds the nominal value of which nearly reaches 1 trillion tenge (148.66/$1), said the Financial Supervision Committee of the National Bank.

"In the reporting period the Kazakh issuers repaid 23 bond issues totaling 290.3 billion tenge in nominal value and 30 bond issues under bond programs totaling 679.3 billion tenge in nominal value," the Committee says in a Tuesday press release.

Kazakhstan's Finance Ministry may consider issuing Eurobonds and Islamic bonds, said Finance Ministry Bolat Zhamishev.

"Issuing Eurobond and sukuk depends on the current market conditions and plans of the corporate sector to enter capital markets. Constant monitoring of the world financial market situation is underway," he said at the Ministry's board on Monday in Astana.

"In fact, we don't need funds to cover the budget deficit, but if corporations start raising money on capital market and benchmark is relevant, we may issue Eurobonds and Islamic bonds," said Zhamishev.

Kazakh President Nursultan Nazarbayev has told the National Bank and the government to ensure the best exchange rate to support the Kazakh exporters.

"External factors may cause devaluation of our trading partners' currencies. That is why the National Bank and the Cabinet should control this situation and ensure the best Tenge exchange rate to support the domestic exporters," the president told the Cabinet meeting in Astana on Friday.

The president said that the financial sector should be ready for a crisis.

Kazakh President Nursultan Nazarbayev has said that the republic should focus on economic development of all its regions.

"Kazakhstan will be strong only if all its regions are strong. We need to insure local economic growth, which will benefit the whole country. We need to build new plants, create working places and develop social infrastructures in the regions. That is what the rest of the world normally does," Nursultan Nazarbayev said in his annual address to the people of Kazakhstan.