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Attracting Investment in Kazakhstan

Attraction of foreign investment in the country’s economy is considered as one of the most important state priorities in Kazakhstan.  In his Address to the people of Kazakhstan, President Nursultan Nazarbayev stated that the country has to keep the leadership in the investment attraction in the region.  The country continues to be an attractive investment destination for natural resource-seeking and market-seeking investments. However, the real challenge is to attract more export oriented, efficiency-seeking FDI.

In order to achieve this, the Government started to undertake a series of priority reforms. The National Investment Attraction and Retention Strategy of Kazakhstan is developed and will soon be approved.  It formulates an ambitious yet achievable investment vision for the country outside of the hydrocarbon and mineral sector and identifies a set of core improvements that will continuously raise Kazakhstan’s competitiveness for the efficiency-seeking investments.  Attracting and retaining this type of investment will require strengthening both Kazakhstan’s international competiveness and its investment climate.

The measures on creating a favorable investment climate in Kazakhstan include removal of administrative barriers, provision of investment preferences such as tax incentives, investment subsidy, exemption from customs duties, state in-kind grants, etc. Since January 1, 2017, citizens of 60 countries including all OECD member countries may enter Kazakhstan without a visa for a period up to 30 calendar days.   

As a result, in 2016 Kazakhstan moved up from rank 41 to rank 35 in the World Bank’s Doing Business rating.  According to the National Bank of Kazakhstan, the gross inflow of foreign direct investment (FDI) amounted to more than $20 billion and increased by 40 percent compared to 2015.  In addition, this year Kazakhstan joined the Investment Committee of the Organization for Economic Cooperation and Development (OECD).  The country will adopt many of OECD’s recommendations to integrate better within the world economy and raise its competitiveness.

One of the most important steps on attracting FDI in country’s economy is the establishment of KAZAKH INVEST National Company on the basis of Kaznex Invest National Export and Investment Promotion Agency.  The company acts on behalf of the Government as a unified negotiator and a one-stop-shop in creating and strengthening its relationship with international business community, as well as a single coordinating center on special economic and industrial zones of Kazakhstan.

The Company Board of Directors includes heads of relevant ministries and authoritative foreign consultants.  It is led by the Prime Minister of the Republic of Kazakhstan, which allows to find prompt and sustainable solutions to all issues and problems of the investors.

The main functional duty of KAZAKH INVEST is to provide full support for foreign investors – from the development of idea to the commencement of production in Kazakhstan and the subsequent export.  In other words, investment project support is not limited to consulting activities only, but extends up to the release and dispatch of products to consumers.  Such a comprehensive approach allows KAZAKH INVEST to work with each of its partners more efficiently and to establish productive cooperation.

All FDI projects will be supported all the way through its life cycle, which includes meetings and negotiations with the investor to determine his needs, preparing investment project together, supporting investor at all stages of the project, and project aftercare including full protection.

Being active on a global scale, KAZAKH INVEST operates with a network of representative offices abroad.  Representatives are in direct contact with the target business communities and are the first point of immediate contact, providing full assistance to potential investors.  The company has also opened offices in all regions of Kazakhstan.  They will provide an opportunity to receive all state services in the field and promptly resolve operational issues.

So, KAZAKH INVEST becomes a single contact point for each investor.  According to Maxat Kabashev, Chairman of the Management Board, “We fully realize that the current success of the foreign investors in Kazakhstan leads to the future long-term prosperity of the country, and we are ready to provide comprehensive assistance to them.  That is how we will build a smooth and efficient path to Kazakhstan.”

For more information please visit www.invest.gov.kz

Contact Details

KAZAKH INVEST 
2 Kunaev Street, 6th Floor
010000 Astana
Republic of Kazakhstan

Tel:  +7 7172 62 05 27
Fax:  +7 7172 62 06 00
Website:  www.invest.gov.kz

Malaysia-Kazakhstan Business Forum on 3 May 2017

Malaysia External Trade Development Corporation (MATRADE) with the cooperation of the Embassy of the Republic of Kazakhstan in Malaysia organised the “Malaysia- Kazakhstan Business Forum – New Business Opportunities in Kazakhstan” at Menara MATRADE, Kuala Lumpur.

Kazakhstan-Malaysia Business Forum on “New Business Opportunities in Kazakhstan” on 3 May 2017 at Menara MATRADE, Kuala Lumpur

The Forum’s objectives was to promote “Trade and Investment Opportunities in Kazakhstan” to officials from the Malaysian government and the business community in Malaysia.  The Forum also aimed to promote closer economic cooperation as an important element of comprehensive partnership between the two countries.

Ms Sharimahton Mat Saleh, Deputy Chief Executive Officer of MATRADE delivered the Keynote Address.  H.E. Mr Timur Suleimenov, Ministry of National Economy of the Republic of Kazakhstan chaired the Forum.

H.E. Ruslan Dalenov, First Vice Minister of National Economy of Kazakhstan giving the Keynote Address at the Malaysia-Kazakhstan Business Forum

Ms Gulnar Keneyeva, Advisor to the Chairman of Tourism and International Relations of KAZNEX INVSET presented a paper on the “Trade and Investments Opportunities in Kazakhstan” at the Forum

The following presentations made at the Forum included:-

1)  Trade and Investment Opportunities in Kazakhstan
2)  Islamic Finance Development in Kazakhtan
3)  Public-Private Partnership Cooperation
4)  Development of Cooperation of Small and Medium-Sized Enterprises  
     between Kazakhstan and Malaysia

Ms Ng Su Fun, Executive Secretary and Ms Florence Khoo, Asst. Executive Secretary of MASSA attended the Forum.