Kazakhstan’s ongoing reforms to provide ample opportunities for foreign investors - Alikhan Smailov
Prime Minister of the Republic of Kazakhstan Alikhan Smailov held a progress meeting of the Council of Foreign Investors to have details about the activities of Permanent Task Forces, preparations for the 34th Plenary Session of the Council, as well as about the investors’ topical issues on doing business in Kazakhstan.
Opening the meeting, the Prime Minister of the Republic of Kazakhstan highlighted that the Government is currently taking comprehensive steps to preserve and increase the inflow of foreign investment.
Last year, 44 new investment projects worth $3.6 billion were launched in the Republic of Kazakhstan. To date, a pool of over 700 existing and potential projects worth $55 billion has been additionally developed.
The Government has developed a new Investment Policy Concept until 2026 to further increase the investment attractiveness of Kazakhstan.
“Taking into account global trends, we will continue the efforts to attract investments in the processing industry with a high value added, the agro-industrial complex, pharmaceuticals, transport and logistics infrastructure and other industries,” Alikhan Smailov emphasized.
The Head of Government also stressed that Kazakhstan is opening today a new page in its history, following the path of democratic and socio-economic transformations announced by the Head of State Kassym-Jomart Tokayev as part of the New Kazakhstan Concept. It covers all spheres of society's life and is aimed at strengthening the institution of legislative power, qualitative modernization of the economy through strengthening fair competition, protecting private property, and demonopolizing the economy.
“All these measures will create broad economic opportunities for foreign investors. For this reason, I would like to note once again that Kazakhstan continues to be a reliable investment partner for everyone who comes to our country to work honestly and earn money,” Alikhan Smailov said.
The speakers of the meeting who made reports were: Deputy Prime Minister - Minister of Foreign Affairs Mukhtar Tleuberdi, Minister of National Economy Alibek Kuantyrov, Minister of Ecology, Geology and Natural Resources Serikkali Brekeshev, Minister of Labor and Social Protection of the Population Tamara Duissenova, Minister of Energy Bolat Akchulakov, CEO of Samruk-Kazyna Fund Almasadam Satkaliyev and others.
Among the foreign investors who participated in the meeting were: CEO of the Kazakhstan Council of Foreign Investors’ Association, Managing Partner of EY Erlan Dosymbekov, Head of TotalEnergies in Kazakhstan Alem Friga-Noy, the representative of KNAUF Dimitri Propp, Managing Partner of KPMG Saken Zhumashev, President of GE in Russia and the CIS Bela Ferenci, Managing Director of Philip Morris International Juan Escobar and others.
In particular, the meeting stressed that over the past period, all responsible state agencies and organizations, foreign companies of the Council have taken all necessary measures to fulfill the protocol instructions of the 33rd Plenary Session of the Council. At the same time, the most important strategic goals for the future are the protection of the environment and water resources, the transition to renewable energy sources and the decarbonization of the economy, which will be the focus of the 34th Plenary Session of the Council.
Summarizing the results of the meeting, the Prime Minister of the Republic of Kazakhstan noted that a lot had been done within the framework of the Council. The voiced proposals and recommendations will be worked out in detail by the Government.
“I want to emphasize once again that we are ready to discuss all the proposals and recommendations of foreign investors, as well as emerging issues related to their investment activities in Kazakhstan,” Alikhan Smailov concluded.