Kazakhstan ready to create all necessary conditions for investors

Photo: Kazakhstan ready to create all necessary conditions for investors / Economy news

Astana, Kazakhstan, May 3
By Daniyar Mukhtarov - Trend:

Kazakhstan is located between the large markets and creates all necessary conditions necessary for the investors, Deputy Prime Minister and Minister of Industry and New Technologies Asset Issekeshev said.

Isekeshev made the remarks at the 47th annual meeting of the Governors of the Asian Development Bank in Astana.

"Our country intends to actively support the development of tourist, pharmaceutical and light industries. In this regard, the Kazakh government encourages foreign investors to get actively involved. We hope that during the ADB meeting, you will see that Kazakhstan is an ideal place for investment, regional center, the hub for investment in trade," he said.

Kazakhstan also intends to develop food production, metallurgy, chemistry, petrochemicals, engineering and production of construction materials, according to Isekeshev.

Deputy PM also recalled that Kazakhstan has embassies in all countries, and also the "Kaznext Invest" agency operates as the "front office on work with investments."

"We are ready to separately contact each interested company and provide full support," Isekeshev said.

He added that today all conditions for foreign investors have already been created in Kazakhstan.

Over the past 12 years, real GDP grew by average 8 percent in Kazakhstan, gross investment amounted to more than $180 billion since 2005. Inflow of direct investment from Asia to Kazakhstan's economy has made up more than $23 billion in the last eight years.

"Today, Asian investors have implemented more than 40 large investment projects in the country totaling more than $12 billion. More than 50 projects worth $20 billion are at the implementation stage," the Deputy Prime Minister said.

Furthermore, Kazakhstan intends to make a new breakthrough for the radical improvement of the investment climate.

"We develop and plan introduction of a new package of incentives to investors, which address both the support and the creation of new investment mechanisms. We plan to launch 10 free economic zones and to attarct international management companies to these zones," Issekeshev noted.

Deputy Prime Minister said that Kazakhstan will implement large-scale oil and gas projects, mining projects, projects in the field of exploration.

Furthermore, extensive program on the development of agriculture and infrastructure has been developed, he said.

"We would like to invite Asian companies to work in Kazakhstan with a focus not only on our market, it is quite small, but mainly in the markets of our partners in the Customs Union and Central Asia, as well as fast-growing regions of Asia," Issekeshev said.

Translated by S.I.
Edited by S.I.

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