Today the 33rd Plenary Session of the Foreign Investors’ Council chaired by the President of the Republic of Kazakhstan Kassym-Jomart Tokayev was held in online format. The main topic of the session was «Boosting non-commodity exports».
The Plenary Session was attended by the heads of large multinational companies, heads of government agencies and representatives of international organizations.
During the session, the speeches were delivered by the following speakers - the President of the European Bank for Reconstruction and Development Odile Renaud-Basso, Deputy Prime Minister - Minister of Foreign Affairs of the Republic of Kazakhstan Mukhtar Tleuberdi on the implementation of protocol minutes of the 32nd Plenary Session of the Council, Minister of Trade and Integration of the Republic of Kazakhstan Bakhyt Sultanov on the main topic of the Plenary Session, KFICA Governing Board Chairman, Managing Partner for Kazakhstan and Central Asia, EY Erlan Dosymbekov on recommendations to the Foreign Investors’ Council, Vice-President for Private Sector Operations and Public–Private Partnerships, Asian Development Bank Ashok Lavasa, EY Global Managing Partner – Client Service Andy Baldwin, Deputy Chairperson of Baker McKenzie International, Member of the Global Executive Committee of Baker McKenize Dr. Constanze Ulmer-Eilfort and President and Chief Executive Officer, Cameco Corporation Tim Gitzel, Chief Executive Officer for Northern and Eastern Europe at Deutsche Bank AG Joerg Bongartz, Chairman of the Management Board of the Eurasian Development Bank Nikolay Podguzov, Chairman of the Board of Directors, ERG, Founder Alexander Machkevitch, Vice-President of GE, President and CEO of GE Russia/CIS Ron Pollett, President of PJSC LUKOIL Vagit Alekperov, Vice Chairman, Member of the Board of Directors of Marubeni Corporation Ichiro Takahara, Chief Executive Officer for PwC CEE Nick Kos, Regional Vice President for Europe and Central Asia, World Bank Anna Bjerde, Chief Operation Officer and Deputy Chairman of KPMG CIS, Ambassador of KPMG International Sean Michael Tiernan.
At the session, foreign investors noted the importance and relevance of the selected topic and shared their recommendations for the boosting non-commodity exports, including increasing the investment attractiveness of Kazakhstan.
The boosting of non-commodity exports in the country is in line with global trends such as climate change and the achievement of sustainable development goals. Today, the states of all countries are actively switching to the "green" technologies and renewable energy sources. Thus, the Paris Agreement, within the framework of the UN Framework Convention on climate change, has become the basis in the international arena to promote the use of cleaner technologies which will open up new prospects for governments. Kazakhstan signed this agreement in 2016 and since then has demonstrated its contribution to the implementation of the sustainable development goals.
“In the context of the inevitable decarbonization and reorientation of investments in «clean» technologies, Kazakhstan has a unique opportunity to create and boost non-commodity exports. With the right modeling and development strategy, you can turn the changes taking place in the world to your advantage and be ready for them in order to remain competitive in the coming decades”, - said Andy Baldwin, EY Global Managing Partner – Client Service.
In addition, recommendations were voiced on unleashing the potential of agricultural exports and food products, including through the formation of the concept of the Eurasian Commodity Distribution System, promoting regional trade in the post-pandemic period, digital transformation, including the export of «IT» services, as well as the use of complex digital solutions in the health care system of Kazakhstan.
Also, proposals were voiced on increasing the export of clothing from Kazakhstan, including specific steps to increase the competitiveness of the clothing and textile sectors, proposals to increase transparency and accountability for results, to take targeted support measures, to improve the Tax and Entrepreneurial Codes of the Republic, as well as to optimize target measures to support businesses and sectors.
At the same time, after the end of the main part of the Plenary Session, a closed session was held on «post-crisis tax incentives and the development of human capital for the needs of the national economy, as well as on Subsoil use issues limiting the growth of Kazakhstan’s exports and digitalization at the service of integration». During which the following speakers took the floor: EY Global Managing Partner – Client Service Andy Baldwin, CEO, Deloitte CIS Ian Colebourne, Managing Partner and General Director of the international KNAUF group Manfred Grundke, Chief Executive Officer for Citi Europe, Middle East and Africa David Livingstone, Chairman of the Board of Directors, ERG S.a.r.l, Founder Alexander Machkevitch on «the Subsoil use issues limiting the growth of Kazakhstan’s exports», Chairman of the Management Board of the Eurasian Development Bank Nikolay Podguzov.
Reference: Established at the initiative of the First President N.A. Nazarbayev the Foreign Investors Council (FIC) is an effective platform for bringing together major foreign investors in Kazakhstan and providing an opportunity to discuss the most important issues related to the development of the national economy and improvement of the investment climate.
FIC includes heads of 37 large-scale transnational companies and international organizations as well as heads of key ministries.