Foreign businessmen will invest $3.5 billion in Kazakhstan’s economy. Corresponding agreements have been already concluded. According to the report of Pricewaterhouse Coopers and the World Bank, Kazakhstan ranked 18th among 189 countries in terms of the level of favorable tax climate. Kazakhstan is also among the top ten states by the Contract Execution index for the second consecutive year. Kazakhstan offers partners such preferences as exemption from payment of a number of taxes and a visa-free entry. Government services, request replies and documents will be provided in English.
Kazakh investment and development minister Zhenis Kassymbekov commented: “$10 billion were attracted in Kazakhstan’s economy in the first half of 2017. It is planned to maintain these indicators until the end of the year. Considering amendments to the legislation on attracting investments and opening a new national investment company Kazakh Invest, it is planned to increase the volume of investments next year. We expect that this year’s growth of investments will reach from 8 to 10 percent.”
According to experts, metallurgy, oil refining, engineering, copper, gold and geological explorations are profitable industries for investments. Kazakhstan’s industrial enterprises introduce advanced technologies, elements of the Fourth Industrial Revolution and automation.
“We have come across job and other opportunities across the country. So I think the objectives and the intentions are there. You almost feel like the country is on the cusp of the new transformation,” in the words of World Bank senior economist Stefka Slavova.
“We have been investing in Kazakhstan’s economy for many years. We own the largest coal mining plant Bogatyr 50 to 50 with Samruk Company. We are happy to invest in this enterprise and we are planning to continue developing it. I recommend all new investors to cast aside all the doubts and come to Kazakhstan. It is the right place to invest money,” noted CEO Vladislav Soloviev of the Russian aluminium giant RusAl.
“Kazakhstan has a great potential, and the initiative the government is taking in these stages are really remarkable. We can see a lot of growth, a lot of potential and development in Kazakhstan, said railway concern KEC’s chief executive Rakesh Gaur.
To strengthen the work on attracting investments, Kazakh Invest opened a network of representative offices in the countries Kazakhstan is interested in. They negotiate with potential investors abroad. The Kazakh government intends to further improve the conditions for foreign partners. The country is creating a new model of growth by reducing the role of the state in the economy. Astana openly invites investors to participate in promising Kazakhstani projects.
Reported by Kazakh TV.
