BAKU, Azerbaijan, February 20. Kazakh economy retained its attractiveness despite the geopolitical challenges and attracted around $22.1 billion of foreign direct investments in 9M2022, which is a 17.8 percent growth in year-over-year terms, the Prime Minister of Kazakhstan Alikhan Smailov said, Trend reports, citing the press service of the Kazakh PM.
The head of the government noted that Kazakhstan made several changes to perfect the conditions for the operations of foreign investors. These changes include measures to simplify the process of concluding investment agreements and the introduction of an Improved Model Contract, which aims to facilitate attracting FDIs in the oil and gas sector.
He also added that currently, Kazakhstan is working on the introduction of a new Tax Code that will digitalize the control, stimulate digital modernization, simplification of special tax regimes, and transition to differentiated tax rates.
Top-10 FDI donors in 9M2022 included the Netherlands, the US, Switzerland, Belgium, Russia, South Korea, China, France, the UK, and Türkiye.
Smailov concluded by saying that the participation of foreign partners and the diplomatic corps in the improvement of Kazakhstan’s investment climate and attractiveness is highly appreciated.
Earlier, Alikhan Smailov said that the country aims to attract $24.4 billion in 2023. Overall, Kazakhstan plans to attract $150 billion during the next 7 years.