Attraction of investments
As part of the National Investment Strategy, Kazakhstan plans to attract nearly US$118 billion in the next five years. A manufacturing industry will make up a quarter of this amount. According to the Kazakh Ministry of Investment and Development, since the beginning of this year the volume of foreign investment in the country amounted to more than US$10 billion. The ministry highlighted the increase of investments in mining, trade and processing sector. In total, 200 investment projects worth approximately 3 trillion tenge will be implemented in Kazakhstan until 2020.
YERLAN KHAIROV, KAZAKH VICE MINISTER OF INVESTMENT AND DEVELOPMENT:
- More than 60 countries are granted a visa-free entry into Kazakhstan, specifically, all OECD countries. Today we have established a special investment board under the supreme court. We are improving the public-private partnership mechanism. We got a recommendation to conduct privatization processes and we are actively working on the intellectual property. Owing to this, we achieved such results that Kakhakhstan has become a member of the OECD Investment Committee this year. We see this as an indicator of trust in our investment climate.
Over the past 12 years, the amount of capital invested in Kazakhstan has exceeded US$248 billion. According to analysts, the figure proves successful development of foreign business in Kazakhstan’s economy.
AIZHAN MUKHYSHBAYEVA, LEADING EXPERT, KAZAKH INSTITUTE OF WORLD ECONOMY AND POLITICS:
- The preferences created in our country help investors a lot. The 10-year corporate tax exemption will allow the investors to gain a foothold in Kazakhstan’s market and find their niche. In comparison with other countries, Kazakhstan provides the best conditions for foreign capital. This allows reducing the cost of goods produced with the participation of foreign investors.
Foreign experts highly appreciate Kazakhstan’s measures of state support and protection of investors. Well-known American political scientist and journalist and professor at the Johns Hopkins University, Robert Guttman admits that he is keeping an eye on Kazakhstan’s development.
ROBERT GUTTMAN, DIRECTOR, SCHOOL OF POLICY, GEORGE MASON UNIVERSITY:
- It is hard to explain that when we talk about the first country to give the nuclear weapons you have a message so most countries don’t have a message, Kazakhstan has a message. Kazakhstan is trying to become Dubai or Abu Dhabi of Central Asia so I think in the moving up in the rankings, getting foreign investment and yeah money follows stability.
Kazakhstan provided foreign entrepreneurs with conditions, particularly, improvement of tax legislation, development of a business environment, guaranteeing the safety of investors' deposits, prompt service and an introduction of the ‘one stop shop’ principle which makes the country a center for investment attraction.