Kazakhstan’s Reforms Will Create Ample Opportunities for Foreign Investors – Alikhan Smailov

1703

Last year, 44 new investment projects worth $3.6 billion were launched in Kazakhstan. To date, a pool of over 700 existing and potential projects worth $55 billion has been additionally developed.

Kazakhstan’s Reforms Will Create Ample Opportunities for Foreign Investors – Alikhan Smailov

The Astana Times – The Prime Minister of Kazakhstan, Alikhan Smailov, held an interim meeting of the Foreign Investors’ Council, during which the reports on the activities of permanent working groups, the preparation for the 34th plenary session of the Council, as well as topical issues of investors on doing business in Kazakhstan were discussed, reports the Prime Minister’s press service.

Opening the meeting, the Prime Minister of Kazakhstan noted that the Government is currently taking comprehensive measures to maintain and increase the inflow of foreign investments.

 

Last year, 44 new investment projects worth $3.6 billion were launched in Kazakhstan. To date, a pool of over 700 existing and potential projects worth $55 billion has been additionally developed.

 

To further increase the investment attractiveness of Kazakhstan, the Government has developed a new Concept of Investment Policy until 2026.

 

“Taking into account global trends, work will continue on attracting investments into the processing industry with high redistribution, the agro-industrial complex, pharmaceutics, transport, logistics infrastructure, and other sectors”, – Alikhan Smailov emphasized.

 

The Head of Government also noted that today Kazakhstan is opening a new page in its history, following the path of democratic and socio-economic reforms, announced by the Head of State Kassym-Jomart Tokayev as part of the “New Kazakhstan” concept.

 

It covers all spheres of society and is aimed at strengthening the institution of legislative power, and qualitative modernisation of the economy by strengthening fair competition, protecting private property, and demonopolizing the economy.

 

“All these measures will create broad economic opportunities for foreign investors. In this context, I would like to note once again that Kazakhstan continues to be a reliable investment partner for everyone who comes to our country to work and earn honestly”, – Alikhan Smailov emphasized.

 

Reports at the meeting were also made by the Deputy Prime Minister and Minister of Foreign Affairs Mukhtar Tileuberdi, National Economy Minister Alibek Kuantyrov, Ecology, Geology and Natural Resources Minister Serikkali Brekeshev, Labor and Social Protection Minister Tamara Duisenova, Energy Minister Bolat Akchulakov, CEO of Sovereign Wealth Fund “Samruk-Kazyna” Almassadam Satkaliyev, and others.

 

Among the foreign investors that participated in the meeting were Yerlan Dosymbekov, Chairman of the Board of Directors of Kazakhstan’s Foreign Investors’ Council Association and Managing Partner of EY; Alem Friga-Noy, Head of TotalEnergies in Kazakhstan; Dimitri Propp, representative of KNAUF; Saken Zhumashev, Managing Partner of KPMG; Bela Ferenci, President of GE in Russia and the CIS; Juan Escobar, Managing director of Philip Morris International, and others.

 

During the meeting, it was particularly noted that over the past period all the responsible government agencies and organisations, and foreign companies of the Council took all the necessary measures to fulfill the protocol instructions of the 33rd plenary session of the Council.

 

At the same time, the most important strategic objectives for the future are the protection of the environment and water resources, the transition to renewable energy sources, and the decarbonisation of the economy, which will be the focus of the 34th plenary meeting of the Council.

 

Summarising the results of the meeting, the Prime Minister of Kazakhstan noted that a lot of work had been done within the Council. Proposed suggestions and recommendations will be worked out by the Government in detail.

 

“I want to emphasize once again that we are ready to discuss all the proposals and recommendations of foreign investors, as well as emerging issues related to their investment activities in Kazakhstan”, – Alikhan Smailov concluded.