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Kazakhstan to introduce a new concept for attracting foreign capital

The meeting of the Council for Improving the Investment Climate (CIIC) chaired by Prime Minister Askar Mamin discussed the issues of restoring the economy of Kazakhstan in the post-pandemic period. This was reported by the press service of the Head of the Government.

“The anti-crisis measures taken by the Government helped mitigate the economic recession due to the pandemic - positive dynamics have been preserved in the real sector of the economy, in particular, construction (10.5%), agriculture (5%) and processing (3.3%)”, said Askar Mamin.

He emphasized that leading international financial institutions, including the European Bank for Reconstruction and Development, the Asian Development Bank, the International Monetary Fund, as well as rating agencies Moody’s, Fitch, Standard & Poor’s, confirmed positive forecasts for the development of the economy of Kazakhstan.

The Prime Minister stressed that in order to ensure further economic growth and forming the reserves for its high-quality and sustainable development in the new post-pandemic reality, the Strategic Development Plan of Kazakhstan until 2025 has been developed. At the same time, the Government is implementing a new concept for attracting foreign capital.

“One of the principles of this work will be a targeted approach to investors at each stage of preparation and implementation of projects”, said Askar Mamin.

The Head of the Government noted that special investment agreements will be signed to provide differentiated “packages” of support for each strategic investor. “Attracting investment is a key aspect of our new economic model. We will ensure the effective implementation of recommendations for further strengthening the international position of Kazakhstan as a reliable and predictable investment direction”, summed up Askar Mamin.