Kazakhstan invites Germany to invest, take part in privatization program

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ASTANA (TCA) — On May 16, on the eve of the Astana Economic Forum, the 23rd meeting of the Berlin Eurasian Club was held on the issue “Privatization program in Kazakhstan – Chances for German medium business?”. The organizers of the event were Kazakh Invest national company for investment support and promotion and the Embassy of Kazakhstan in Germany.

Participants of the event discussed bilateral economic cooperation, noting that Germany is a strategic partner of Kazakhstan in the European Union, Kazakh Invest reported.

“Today there is a whole pool of opportunities that investors, German investors including, can realize. This is a new investment strategy, a change in the legislation on subsoil, the creation of the Astana International Financial Center (AIFC) based on English law, etc. I think that such forums are very helpful in bringing together the positions of entrepreneurs from different sectors. At this forum, representatives of the Ministry of Investment and Development, AIFC, Kazakh Invest showed all these innovations in the legislation and existing opportunities,” said Kairat Kelimbetov, the Governor of the Astana International Financial Center.

Representatives of the German side noted the need to intensify investment cooperation, including in the framework of technological development.

“We assess the investment climate in Kazakhstan as very positive. Moreover, this is noted in all international rankings. It is very important that Kazakhstan is guided by the best international practices. We had the first experience when large German companies came to Kazakhstan. Now it is very important to attract the medium German business. It is the leader in many industries, so it will be particularly interesting in terms of technological cooperation. Here Kazakh Invest plays a very important role, namely, presenting information and support for specific investment projects,” said Michael Harms, Managing Director of the Eastern Committee of the German Economy.

The Chairman of the Investment Committee of the Ministry of Investment and Development of Kazakhstan, Yerlan Khairov, noted that about 90 percent of investments that came from Germany were directed primarily to the manufacturing sector.

During the forum, Deputy Chairman of Kazakh Invest Marat Birimzhan described in more detail what kind of investment opportunities exist in Kazakhstan and urged German companies to participate in Kazakhstan’s Privatization Program: “Kazakhstan is not only a transit country, but also the country where one can place its production in order to export to nearby countries. Kazakh Invest provides investors with point information on prospective investment projects, as well as on the implementation of the privatization program,” he said.

The Berlin Eurasian Club (BEC) is the first project of this kind in Kazakhstan in Europe aimed at strengthening expert dialogue between European and Asian cultures. The functions of the BEC secretariat are jointly implemented by the Embassy of Kazakhstan in the Federal Republic of Germany and the Eastern Committee of the German Economy.

Sergey Kwan

TCA