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Head of CITIC Bank talked about the principles and investment philosophy in Kazakhstan

A favourable environment is essential for successful economic development. This view was expressed by Li Qingping, the Chairperson of the Board of Directors of CITIC Bank, during the plenary session of KGIR-2019.

The head of CITIC Bank told the participants of the plenary session about the secret of the successful business of the CITIC group in Kazakhstan. “The reasons why CITIC Group and CITIC Bank achieved good success in Kazakhstan are as follows. This is the use of the right concept of justice and establishing friendly relations,” Li Qingping said. According to her, the decision-making investing philosophy is based on the fact that "CITIC always adheres to the principle of jointly discussing with partners the directions of investment, for their use for mutual benefit." “We strive to implement large projects that contribute to the economic development of the region, contribute to solving problems of employment and strengthening social stability,” said the head of the Chinese bank. She noted that the major driver for the project promotion is “the development of the economy as well as improvement of living standards of the population in the host country”.

The second important rule of CITIC is the full integration and development of the local economy, assistance in the economic development of Kazakhstan. “We pay great attention to considering the issue from the standpoint of Kazakhstan and its prospects, and we try to take into account the needs of the partner in cooperation as much as possible. We are trying to invest in different areas in order to support the economic development of the whole of Kazakhstan,” Li Qingping stated.

Agreeing with the statement of the Prime Minister Askar Mamin at the plenary meeting that “Kazakhstan today is a country with wide opportunities for business, investors and entrepreneurs, we offer some of the most favorable conditions for business in the region and in the world,” Lee Qingping noted that she hopes that "the processes of continuous improvement of the business environment will not be decreased." "At present there are reserves in the tax policy in terms of VAT refund to exporters, the visa issue can also be simplified by facilitating the visa procedures," she said. In addition, the head of the Chinese bank expressed the opinion that “for economic development it is extremely important to have a favorable environment, figuratively speaking, nutrients in soil”. “First of all, we would like to increase the degree of openness and ease the restrictions on the proportion of senior managers of investment enterprises. And the limit on recruiting foreign workers. To encourage the investment of large enterprises. To establish more financial institutions in order to create subsidiaries, branches, for the promotion of companies in Kazakhstan, which would contribute to the development of the AIFC,” she said.