Foreign Investors’ Council meets in Kazakhstan

ASTANA (TCA) — An interim meeting of the Council of Foreign Investors under the President of Kazakhstan was held on November 29 in Astana with the participation of the Prime Minister Bakytzhan Sagintayev, the official website of the Prime Minister of Kazakhstan reports.

The meeting discussed issues of investment policy implementation, development of labor legislation, human capital and attraction of foreign labor, energy, environmental and the oil and gas industry issues.

The Ministers for investments and development Zhenis Kassymbek, labor and social protection of the population Madina Abylkassymova, Vice Minister of Education and Science Bibigul Assylova, Chairman of the Kazakhstan Foreign Investors’ Council Association Agris Preimanis, as well as the director of the Kazakhstan Foreign Investors’ Council Association Zhanna Baidasheva reported on the work done.

The meeting participants discussed areas being implemented jointly with foreign investors, and identified the contours of further work. The ministers of national economy Timur Suleimenov, finance Alikhan Smailov, and energy Kanat Bozumbayev made comments on promising projects.

The Foreign Investors Council chaired by the President of Kazakhstan was established in 1998. The Council consists of the heads of more than 30 foreign companies and international organizations in Kazakhstan. The main task of the Council is to develop recommendations and proposals on determining the main directions of the investment policy of Kazakhstan, improving the investment climate, the regulatory legal framework on investments, promoting foreign companies to diversify the economy, develop small and medium-sized businesses, integrate the economy of Kazakhstan into world economic processes, as well as implement major investment programs and projects of international importance.

In order to modernize and improve the competitiveness of the country, the Government of Kazakhstan is systematically enhancing the regulatory environment, to ensure the rule of law and the quality of public administration, reform the education system, taking into account the modernization and digitalization of the economy, develop human capital, and bring environmental legislation in accordance with OECD standards and provide international competitiveness of leading industries in Kazakhstan.

Sergey Kwan