Experts highly evaluate investment climate of Kazakhstan
Kazakhstan sees economic growth. The country takes consistent measures to improve its investment climate. International experts discussed Kazakhstan’s investment potential at a conference in Astana. The European Bank for Reconstruction and Development forecasts the growth of GDP by 2.4% in 2017. As the chief of the EBRD office in Kazakhstan Janet Heckman said the organization has an optimistic outlook on the economic development of Kazakhstan. The main drivers of growth, according to experts, have become thoughtful reforms, actively implemented in Kazakhstan.
JANET HECKMAN, COUNTRY DIRECTOR FOR KAZAKHSTAN, EBRD:
As EBRD is active across all sectors of the economy and in almost all the regions of Kazakhstan, we tend to know the country a bit better and more than the other international organizations or donor agencies dealing with the country. 00:00:44:23. 00:01:38:04. Main drivers of growth are improved external environment, the result of country’s reforms that we see here in the country like Nurly Zhol infrastructure investment program, improved connectivity resulting from membership in Eurasian Economic Union and WTO.
The exhibition of industrial and innovative projects was held within the event. 70 Kazakhstani companies from all regions of the country presented their ideas to foreign participants. The projects were divided into several areas: agriculture, construction industry, transport infrastructure and others. Top 10 foreign investors were awarded for their active work. The Ministry for Investments and Development evaluated their contribution to the country’s industrialization and the development of high-tech productions in industries such as agriculture, food processing, oil and gas and construction industry, automotive industry and other priority sectors.
Zhenis KASSYMBEK, KAZAKH MINISTER OF INVESTMENTS AND DEVELOPMENT:
Kazakhstan since the first years of its independence counted on economic growth through creation of favorable conditions for foreign investors. In the past 11 years, foreign direct investments in Kazakhstan's economy totaled more than $230 billion thanks to the work that was carried out by our government to improve the investment climate.
Juan JUANIKOTENA, INVESTOR:
Two years ago, we decided to invest in the country more than $40 million. We invest in the region of Mangystau. And we did a project that was a trading facility. So, that combined with a very friendly national regulation for foreign investment. Makes Kazakhstan a very attractive place for any foreign investor.
Last year, Kazakhstan has introduced a visa-free regime for 19 countries that are major investment partners. Starting from January 1, 2017, the citizens of another 55 countries will be able to stay in Kazakhstan for up to 30 days without a visa. The services within the principle of ‘single window’ are provided to foreign businessmen. In addition, amendments to the legislation of Kazakhstan to improve the investment climate were adopted. These measures, according to experts, will help the country to win more investors. Kazakhstan is set to become the leading attractor of investments in the region, as well as a center for the transfer of new technologies.