Kazakhstan attracts foreign investment
Kazakhstan created an attractive investment climate. Not only representatives of international business, but also the figures prove this. Over the past 12 years, the amount of capital invested in the country has exceeded US$248 billion. Measures of state support for investors played a significant role. Kazakh Invest, special national company for investments was established with network of international representatives and regional branches. Moreover, a visa-free regime, a number of customs and tax preferences were introduced.
ANSGAR DIEKMANN, SENIOR TECHNICAL ADVISOR, VTK:
– The government has various programs, tax cuts, tax incentives, further subsidies on interest, subsidies on land available for industrial accommodation or available for providing real estate// 00:04:16:00 – In addition, it is a stable legal environment.
In order to improve the investment climate, Kazakhstan and the World Bank have developed and approved the National Investment Strategy for 2018-2022. If previously the investments by foreign business mainly focused on the extractive sector, then now as part of the new program, the goal is to attract money to the manufacturing industries. This is also the interest of international business, too. Foreign entrepreneurs admit that they are ready to invest in new areas of the Kazakh economy.
GUOJUN SUN, PRESIDENT, JINGGONG ENERGY GROUP:
- Kazakhstan is a young country which is of great interest to Chinese investors. The most interesting industries are construction of infrastructure, real estate and energy. I came to Kazakhstan for the first time and I’m interested in green and renewable energy projects. We’ve already cooperated with Kazakhstan during EXPO 2017. We supplied steel structures. Now we are looking for opportunities to invest in green energy projects.
Kazakhstan supports the interests of minority investors, too. According to the Doing Business report 2018, Kazakhstan is ranked the first in the Protecting Minority Investors index. In general, following the results of the World Bank's annual report, Kazakhstan ranked 36th in the list of countries with favorable conditions for doing business among190 countries. According to experts, this fact causes a new surge of interest of foreign investors. The indicator will also increase Kazakhstan’s investment attractiveness and the interest in the launch of the Astana International Financial Center. The center will follow the rules of English law with independent arbitration to protect the assets. Another factor that significantly influences the growth of the country’s investment interest is Kazakhstan’s inclusion in the intercontinental network of transport corridors.