Prime Minister of the Republic of Kazakhstan, Olzhas Bektenov, held an interim meeting of the Foreign Investors’ Council. The meeting addressed current issues related to investor activities in the country and their contribution to domestic value creation.

As instructed by the Head of State, the Government is implementing systemic measures to improve the business climate and accelerate economic diversification. These efforts aim to attract additional capital, expand the country’s resource potential, and launch new industrial enterprises.

The Prime Minister emphasized the government’s commitment to close cooperation with investors to implement new projects in priority sectors of the economy, ensure deep localization, and increase employment.

"As the Head of State noted, under the current geopolitical and economic conditions, the top priority is to create a favorable environment for enhancing entrepreneurial activity through the attraction of private investment. We are interested in working with you to establish new production facilities in Kazakhstan, which will support job creation and deep localization. It is important to unlock the potential for new areas of cooperation and implement breakthrough projects in the priority sectors of the economy. We have created all the necessary conditions for this. The Government of Kazakhstan is open to constructive dialogue and ready to jointly find solutions that will contribute to our country’s development," Olzhas Bektenov stated.

During the meeting, joint working groups presented reports on the implementation of investment policy; healthcare and the development of the pharmaceutical industry; energy, ecology, and the oil and gas sector; labor legislation and human capital development; and digitalization.

Speakers included:

·        Yerlan Dosymbekov, Chairman of the Board of the Association "Kazakhstan Foreign Investors’ Council" and Managing Partner at EY for Central Asia and the Caucasus,

·        Cécile Rollin, Managing Director of ExxonMobil Kazakhstan Inc.,

·        Dimitriy Propp, Director of Marketing and Sales in Kazakhstan, Kyrgyzstan, and Tajikistan at Knauf Gips Kapchagay LLP,

·        Saken Zhumashev, Managing Partner and Executive Director at KPMG Caucasus and Central Asia,

·        Adam Alekseyuk, CEO of JSC "Himpharm",

·        Huseyin Ozhan, Managing Director at the European Bank for Reconstruction and Development.

The speakers highlighted that future efforts will focus on improving environmental regulations, developing cloud technologies and artificial intelligence, refining migration policies, digitalizing subsoil use processes, enhancing inter-agency coordination regarding the declining Caspian Sea level, and attracting investment and technology in the healthcare sector.

Representatives from the Ministries of National Economy, Energy, Labor and Social Protection, Digital Development, Innovation and Aerospace Industry, and Health provided comments on the issues raised by investors.

Kazakhstan is implementing a number of systemic measures to improve the business environment. The Law on Industrial Policy has been adopted, supporting local suppliers and integrating them into value chains. The Investment Policy Concept has been updated through 2029 to foster a sustainable business ecosystem. The National Digital Investment Platform has been launched to streamline project implementation processes. Infrastructure support is being provided, with ready-made industrial sites available in special economic, industrial, and small industrial zones. Work is underway to conclude long-term contracts and off-take agreements to load existing production capacities and attract new participants.

Following the meeting, the Prime Minister instructed government bodies and organizations to address the issues and recommendations raised.

Source: https://primeminister.kz/en/news/olzhas-bektenov-holds-interim-meeting-of-foreign-investors-council-30043