Kazakhstan is ready to offer special preferences to Korean investors

President Kassym-Jomart Tokayev delivered a video address at the International Forum on Northern Economic Cooperation 2020. The event kicked off today in Seoul under the slogan “Global Changes after COVID-19 and the Future of Northern Economic Cooperation”.

Speaking about the Kazakhstan-South Korean strategic partnership based on common values, mutual support and close people-to-people ties, Kassym-Jomart Tokayev stressed the contribution of the hundred-thousandth Korean community of Kazakhstan to be a golden bridge of friendship between the peoples of the two countries.

“Korean investments in the Kazakhstan economy amounted to $ 7 billion. Despite the global turbulence, bilateral trade turnover has shown a robust growth. It should be noted that Kazakhstan accounts for 70% of the total GDP of all five Central Asian states. Korea ranks the 10th position among top investors. Thus, there is a huge unused potential for further boosting our mutually beneficial cooperation,” the Head of State said.

The President of Kazakhstan highlighted that the historic visit of Moon Jae-in to our country in April 2019 opened up a new chapter in bilateral cooperation. The Fresh Wind Program, signed during that visit, is aimed at enhancing the comprehensive Kazakhstan-Korean economic, trade and cultural relations.

In this regard, Kassym-Jomart Tokayev stated that both the Fresh Wind Program and the New Northern Policy Strategy correspond to the strategic objectives enshrined in the national programs, including Digital Kazakhstan and Nurly Zhol.

Pointing to the approaching completion of a long oil supercycle in the world, the Head of State stressed the paramount importance of building a diversified and sustainable economy for Kazakhstan.

“That is why I initiated the New Economic Course. It is associated not only with structural reforms, but also with the building of a more dynamic and stronger state. Kazakhstan is ready to offer tailor-made tools for Korean investors, including tax and customs preferences, co-financing of projects, partial guarantees and export support mechanisms,” the President said.

The Head of State also stressed the potential of the Astana International Financial Center based on the English law, and its unique ecosystem for foreign business.

At the end of his speech, Kassym-Jomart Tokayev wished the participants of the Forum fruitful work, and the President and Government of South Korea good luck and success in their noble endeavors.

https://kapital.kz/economic/90902/rk-gotova-predlozhit-koreyskim-investoram-spetspreferentsii.html