Kazakhstan takes the leading position among the CIS countries in attracting direct foreign investments
Kazakhstan takes the leading position among the CIS countries in attracting direct foreign investments. In total over the last 10 tears our country has attracted over 200 billion dollars. The top 5 investor countries are the Netherlands, the U.S.A., Switzerland, China and France. There are three factors that contribute to achieving these indicators: a favorable business climate, rich natural resources and advantageous geographical position.
AIZHAN MUHYSHBAYEVA, LEADING EXPERT, INSTITUTE OF WORLD ECONOMICS AND POLITICS:
- Land resources, labor resources and electric power are significantly cheaper in Kazakhstan compared to other countries. Moreover, investors are exempt from corporate income tax, land tax for up to 10 years. As a whole these measures should create preconditions for investors’ attraction.
A national investment strategy has been developed to increase the money flow into Kazakhstan. As part of this plan it is planned to attract about 118 billion U.S. dollars in the country over the upcoming 5 years. Investors are attracted to Kazakhstan’s market due to the preferences: various tax reliefs, lighter customs regulations and no administrative barriers. And the membership in the EAEU provides additional opportunities for the financial partners. Another factor that attracts investors is that investors’ rights are protected in Kazakhstan. According to the Doing Business ranking our country has improved its position in the “protecting minority investors” indicator, entering the top 10 countries with the best investment climate and opportunities.
TADEUSZ KOSCINSKI, POLISH DEPUTY MINISTER OF ENTREPRENEURSHIP AND TECHNOLOGY:
- I want to specify that polish businessmen that have already invested in your country are very pleased with the investment conditions and the fact that their investments are protected. The president’s address specifies a task – further improvement of the investment climate in the country. It is pleasing for us.
“KAZAKH INVEST”, an agency established in Kazakhstan, plays an important role in attracting foreign investors. Thanks to the organization, domestic and foreign companies establish long-term and successful business ties in such areas as mining industry, trade, transport and manufacturing industry. It is worth noting that the national company has already defined 11 priority countries in investment attraction. They include the U.S.A., the U.A.E., Turkey, Japan, South Korea, China, Russia and several European Union countries. It is expected that by 2020 200 investment projects worth about 3 trillion tenge will be implemented in Kazakhstan.