Kazakhstan: prime minister promises paradise for foreign investors

ASTANA (TCA) — On December 5, at Kazakhstan Global Investment Roundtable in Astana, Prime Minister Bakytzhan Sagintayev discussed topical issues of investing in Kazakhstan with representatives of more than 100 major companies from 30 countries, the official website of the Prime Minister of Kazakhstan reports.

The event was attended by heads of international companies and organizations, such as Nasdaq, Mitsui & Co., Master Card, Yildirim Holding, World Bank, COSCO Shiping, COFCO, China Gezhouba International Engineering, Calik Holding, Alstom, Aberdeen Standard Life, Tokyo Rope, Marubeni, ENI, Farm Frites, ROSATOM, Cottonex, CIS-Airbus Group, and others.

During the plenary session “Kazakhstan’s Economic Reform Program: Challenges and Opportunities” Prime Minister Sagintayev told the forum participants about the measures taken in the country to develop the investment climate and expand investment opportunities.

Sagintayev said that the recently launched Third Modernization of Kazakhstan opens new opportunities for investors in various sectors of the economy: metallurgy, machine building, the agro-industrial sector, processing and food industry.

Investors get access to the largest markets through Kazakhstan’s integration policy, Sagintayev said, adding that the country’s integration within the Eurasian Economic Union opens large prospects for investors in Kazakhstan.

The Prime Minister emphasized that Kazakhstan’s Astana International Financial Centre is not only a financial instrument of integration with the foreign stock exchanges, but a center where investors could settle economic disputes in accordance with the principles and norms of the British legal system with proceedings in the English language.

Sagintayev pointed out that the market share of the state is shrinking, and 902 companies in Kazakhstan are to be transferred into competitive environment. He invited foreign investors to participate in the country’s second wave of large-scale privatization.

The Prime Minister confirmed the commitment of Kazakhstan’s Government to the policy of creating the most favorable conditions for investors through:
– improvement of public advisory and consultancy services to investors – feedback to be provided in English language within 10 days of application;
– provision of public services to foreigners in English starting from 2020;
– all the key regulatory and legislative documents are to be published in English on the websites of the Ministry of Justice, Ministry of Foreign Affairs, and national company Kazakh Invest;
– introduction of electronic visas for foreign investors.

Sergey Kwan