The World Bank will invest US$3.5 billion in several major Kazakh projects in the next two years, said Ato Brown, the World Bank country manager for Kazakhstan. Throughout 25 years of cooperation with the World Bank, the country has implemented 46 projects for more than US$8 billion.

 

ATO BROWN, WORLD BANK COUNTRY MANAGER FOR KAZAKHSTAN:

 - Kazakhstan has a good future and I think that will encourage government to improve competition, improve opportunities so that investors come. Questions that allow foreign investment.

 

The World Bank specialists also announced the results of the research conducted in Kazakhstan. Thus, international experts recognized Almaty as the most favorable city to do business in Kazakhstan. Megapolis is near top of world’s best economies. The rating is followed by the Aktobe region and the Kostanai region ranks third place. Astana closes the list as the leading city to start a business. 8 regions were subject to testing according to 8 indicators. The study used methodology similar to the global business report. Over the past decade, Kazakhstan has been one of the world's leading reformers for four times in the Doing Business rating.

 

SERIK ZHUMANGARIN, KAZAKH VICE MINISTER OF NATIONAL ECONOMY:

- All indicators are very clear and transparent. The rating is very popular all over the world which is a reference book for all leading businessmen. It considers to what extent a person invests in a particular country. We were on the 86th place a few years ago, now we ranked the 35th place. The head of state set the goal to enter top 30 cpuntries and it is possible.

 

JULIEN WILKIN, TEAM LEADER, WORLD BANK GROUP:

-  One trend caught our attention is that between 2003 and 2016 the time to start the business, the complexity to start the business and the cost to start the business was improved dramatically. Just realize attempt to start a business dropped by 70% between 2003 and 2016. The number of procedures was divided by two and the cost was almost eliminated. This is the direct result of the efforts made by the government in simplifying this regulation.

 

The World Bank report also highlighted that Kazakhstan has made a significant progress in recent years. The country is actively improving business regulation processes.

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