On March 2023 the Interim Session of the Foreign Investors Council was held under the chairmanship of the Prime Minister of the Republic of Kazakhstan, Mr. Alikhan Smailov.

The progress of preparations for the 35th Plenary Session of the Foreign Investors Council, which will focus on the digital transformation of industry and transport sector of Kazakhstan, as well as reports of working groups were considered at the interim meeting of the Council.

On the issues of preparation for the FIC Plenary Session reports were delivered by FIC Events Preparation Working Group Co-Chair from Kazakh side, Minister of Digital Development, Innovations and Aerospace Industry Bagdat Mussin, Acting Minister of Industry and Infrastructural Development Azamat Beispekov, FIC Events Preparation Working Group Co-Chair from foreign side, Chief Executive Officer Beeline Kazakhstan Yevgenyi Nastradin.

Reports on the activities of FIC Joint Working Groups were made by Managing Partner in Central Asia & Caucasus, EY Erlan Dosymbekov, Country chair in Kazakhstan, Managing Director, TotalEnergies EP Kazakhstan Frode Ljones, Representative of KNAUF in the Republic of Kazakhstan Dimitri Propp, Managing partner and CEO at KPMG Caucasus and Central Asia Saken Zhumashev and Managing Director Agip Karachaganak BV Renato Maroli.

The reports were followed by comments from the Ministers of National Economy Alibek Kuantyrov, Labor and Social Protection of Population – Tamara Duisenova, as well as Vice-Minister of Finance – Erzhan Birzhanov, Acting Minister of Energy Asset Magauov and Acting Minister of Ecology and Natural Resources Dosbol Bekmagambetov.

In his speech the Prime Minister stressed that at present the Government was actively working to simplify regulatory policy and to increase the investment attractiveness of the real economy. New Tax and Budget Codes are being developed, measures are being taken to further reduce the share of the state in the economy, to de-monopolize and to combat shadow turnovers.

According to him, all this has a positive effect on the investment climate in the country, which is confirmed by specific figures: in the first 9 months of 2022 the gross inflow of direct foreign investments grew by 18% and exceeded $22 billion. 46 large investment projects with foreign participation were launched last year.

At the same time, the Prime Minister added that, entering a new stage of its development, Kazakhstan needs a digital transformation, which is given close attention by the authorized state bodies.