Active work on attraction of investments is being carried out in Kazakhstan
Active work on attraction of investments is being carried out in Kazakhstan. The priority is the manufacturing as well as traditional industries, including the raw materials sector. Now the republic is committed to move to international accounting standards, stocks and simplify procedures for granting rights to subsoil users. In addition, a favorable investment climate is formed, including tax breaks, simplified visa regimes in Kazakhstan. At an international conference in London Kazakh experts introduced these incentives to foreign businessmen.
ASSET MAGAUOV, KAZAKH DEPUTY ENERGY MINISTER:
At a meeting with investors the main provisions of the two draft laws were presented. We spoke about the simplification of procedures, some basic conceptual aspects in the tax laws. Of course, many issues are still under discussion with the relevant ministries. At the same time we see that there is progress, and I think that investors will be interested to hear what will happen in the future when these decisions made concerning our sector.
Analysts say, along with major projects such as Tengiz-Chevroil, Kashagan and Karachaganak, the British investors are interested in the development of small oil fields. The republic has provided additional incentives, privileges and preferences for them.
ASHLEY SHERMAN, ANALYST, WOOD MCKENZIE:
All of the discussions currently being held by the Ministry of Energy, government, about tax reform, regulatory reform, these will really set base and make clarity to investors existing investors and new investors in Kazakhstan.
At the conference, the women's Eurasian energy club, created with Kazakhstan’s support was launched. The club includes members working in the UK.
AIZADA AKKAYSIEVA, CFO, KAZMORTRANSFLOT:
We believe that the organization will provide the platform, which will expand our borders. We will exchange experiences and create the conditions so that top management of our companies had more female leaders.
The conference was organized with the support of the Kazakh Embassy in the UK. It will give an additional impetus to attracting investment in Kazakhstan’s oil and gas industry.