Kazakhstan is the leader in attracting foreign investments in Central Asia
Kazakhstan is the leader in attracting foreign investments in Central Asia. High figures are the result of creation of favorable investment climate in the republic. Kazakhstan pays special attention to creating comfortable conditions for investors and facilitating business activities. Gross inflow of foreign direct investments into Kazakhstan amounted to $15.8 billion in the first nine months of last year. Experts note that in many respects, the investment attractiveness of Kazakhstani projects is influenced by world prices for resources, the cost of production and the cost of transportation.
SERGEI DOMNIN, EXPERT, INSTITUTE OF WORLD ECONOMICS AND POLITICS:
- Last year’s and this year’s investment growth is associated with several major projects in the mining sector. These are projects in the oil industry, ore mining and the production of metals. Investments in agriculture grew as well. Capital inflows into this sector amounted to 29- 30% over the past year.
Experts note that a wise foreign policy, stable political situation let Kazakhstan effectively build relations with foreign partners. At present, Kazakhstan’s ten largest investor countries are the U.S., Switzerland, China, France, Britain, Russia, Italy, Japan and Belgium. The new investment strategy for 2018-2022 sets up another 36 states as potential investors. The Foreign Ministry will develop a specific plan of action to work with every country.
DIMITRIS ORFANOS, SPOKESPERSON OF CREEK COMPANY DIMITRIS ORFANOS:
- We see a lot of opportunities. Kazakhstan is a very rich country and it seems like a very positive country to meet business with. We see that eagerness from a Kazakh people and from the Government and business as well they want collaborate with foreign companies. They actually want to come here and invest their time, their money and their expertise.
Functioning on the principles of the English law the Astana International Financial Center (AIFC) intends to attract $40 billion in Kazakhstan by 2025. The AIFC is planning to create attractive investment conditions. The new Code on Subsoil and Subsoil Use, which will come into force in July 2018, will make Kazakhstan even more attractive for foreign companies. The law simplified the procedures for obtaining the subsoil use right and issuing the necessary permits. In particular, four steps of project examination will be replaced by one. The terms of consideration of applications for exploration and production were reduced.