Kazakhstan and Switzerland discuss investment cooperation

ASTANA (TCA) — On July 11, Kazakhstan’s Prime Minister Bakytzhan Sagintayev held a meeting with Federal Councillor and Head of the Federal Department of Economic Affairs, Education and Research of Switzerland Johann Schneider-Ammann, the official website of the Prime Minister of Kazakhstan reported.

They discussed issues of further deepening of trade and economic relations, including investment partnership and interregional cooperation, as well as joint projects on the development of transport and logistics infrastructure.

Sagintayev noted the interest in closer cooperation in the areas of energy, transport, small and medium-sized business, as well as in setting up the exchange of new technologies and know-how. Today there are projects in engineering, construction, agrarian industry, mining and metallurgy complex with the participation of Swiss companies that are implemented successfully in Kazakhstan.

The Prime Minister also emphasized that Kazakhstan has created a favorable climate with significant tax and customs preferences for foreign investors. A visa-free regime for 30 days for citizens of Switzerland has been introduced. The measures taken will increase the number of Swiss enterprises that invest and bring technologies to the economy of Kazakhstan.

In 2017 the trade turnover between the two countries amounted to $3.2 billion, 21% higher than in 2016. In January-May 2018, the trade amounted to $1.14 billion (an increase of 95%). In 2005-2017, the gross inflow of direct investments from Switzerland to Kazakhstan was $20.6 billion. As of May 1, 436 legal entities, branches and representative offices with Swiss participation were registered in Kazakhstan.

Sagintayev invited Swiss financial institutions to take an active part in the work of the Astana International Financial Center, noting that Switzerland and Kazakhstan maintain successful cooperation within international financial structures and are the members of the same group in the International Monetary Fund and the World Bank.

Sergey Kwan

TCA

Sergey Kwan has worked for The Times of Central Asia as a journalist, translator and editor since its foundation in March 1999. Prior to this, from 1996-1997, he worked as a translator at The Kyrgyzstan Chronicle, and from 1997-1999, as a translator at The Central Asian Post.
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Kwan studied at the Bishkek Polytechnic Institute from 1990-1994, before completing his training in print journalism in Denmark.

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