Central Asian countries are increasing their investment attractiveness. For this purpose, the republics use modern methods. Foreign businessmen are offered preferences and support, particularly, reduced tax rates and customs duties. Another factor is developed infrastructure and the region’s transport and logistics system. For example, Kazakhstan provides foreign partners with full-time grants, visa-free entry and a simplified tax regime. In addition, the country’s geographical location also serves as a competitive advantage. The most promising industries of Kazakhstan for foreign entrepreneurs are not only traditional extractive but also processing.

BALTABAI SYZDYKOV, SCIENTIFIC STAFF, KAZAKH INSTITUTE FOR STRATEGIC STUDIES:

- More than US$150 billion have been attracted to the region over the past 10 years. The biggest share of this amount was invested in Kazakhstan which is approximately 80%. The main reason behind the investors’ interest in our region is the availability of abundant mineral resources and mineral base. Of course, since the independence, each country has been made some reforms and transformations to improve the investment climate and business environment. Today, we can talk about a fairly favorable investment environment.

Kazakhstan has conducted a number of reforms to facilitate business procedures for entrepreneurs. The World Bank’s Doing Business ranking 2018 demonstrates the vivid result by granting Kazakhstan the 36th place. Moreover, Kazakhstan holds leading positions in such areas as protection of minority investors, registration of enterprises and connection to electricity supply, registration of property and enforcement of contracts. Kazakhstan has joined the OECD Investment Committee. The conditions for attracting foreign labor were also improved, and the Center for the Settlement of Investment Disputes, the National Contact Points for Responsible Business Conduct. Thanks to the latter, the feedback is provided between civil society and investors.

AGRIS PREIMANIS, CHAIRMAN, FOREIGN INVESTORS COUNCIL OF KAZAKHSTAN:

- What is a good investment climate? These are well-designed laws, regulations in the country and the rule of law. Kazakhstan has worked hard on these issues. I would say that the last 4-5 years have been especial accelerations, which lead to improvement of all these factors. A new investment law was adopted in 2014 and many improvements are taking place in the regulatory framework in different sectors like the tariff issue, the green economy and etc.

Uzbekistan is actively attracting investments in the region, too. According to experts, the state’s competitive advantages include a high population, a diversified economy, a good raw material base as well as proximity to the largest markets. Today the country grants foreign investors with individual benefits. However, in the future, they plan to switch to industrial preferences in order to develop competition in the market. Uzbekistan has a diversified economy which includes the developed machine building and a vast range of nomenclature from modern cars to agricultural machinery. Uzbekistan is the largest producer of chemical, textile, food products, building materials, electronics and electrical engineering in the region.

AGRIS PREIMANIS, CHAIRMAN, FOREIGN INVESTORS COUNCIL OF KAZAKHSTAN:

- Since the beginning of the year, the country has undergone strong reforms to liberalize the economy and development of various sectors. What is happening in Uzbekistan is undeniably good for Kazakhstan and for the whole Central Asian region, because Uzbekistan’s strong economy with the population will give great opportunities for both Kazakh and foreign companies.

According to experts, today a completely new model of investment attraction is being built in the Central Asian countries. Experts claim that all these measures will lead to economic prosperity both of the republics and the region as a whole.

 

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