The 32nd Plenary Session of the Foreign Investors' Council chaired by the President of the Republic of Kazakhstan was held on July 4, 2019, in Nur-Sultan.

News

26 April 2019

It will become more comfortable for investors to enter country — Agris Preimanis about Government’s new approaches to attracting investments

Source: Official web site of the Prime Minister of the Republic of Kazakhstan

He noted that in Kazakhstan over the years of independence, a lot of work has been done to attract foreign investment.

At the same time, competition for foreign direct investment is increasing in the world.

In this context, we are pleased with the proposed new approaches in the system of attracting foreign investment and I would like to focus on several elements,” said Preimanis.

In his opinion, the creation of the Coordination Council chaired by Prime Minister on attracting foreign investment is a significant measure. In the future, it will become a platform where strategic and tactical issues important for large investors will be resolved.

The expert emphasized that using the Astana International Financial Center to increase the attractiveness of Kazakhstan for foreign investors is the right and logical decision.

“From the first day, the EBRD supports all initiatives of the AIFC, a lot of joint work has been carried out to introduce the best standards, and a financial and judicial infrastructure has been established that works under English law. It will be much more comfortable for new investors to enter the country, knowing that it works in English law,” said Preimanis.

Taking into account the fact that the majority of investments are in the regions of the republic, the participation of the regions in the new structure of attracting investments is envisaged, which will allow them to solve the challenges facing them centrally and gradually acquire them locally (in akimats, local representative offices of JSC Kazakhinvest) the necessary skills for working with investors for effective interaction.

Preimanis assured that the EBRD supports these proposals and, for its part, will actively participate in the development of regulations for new approaches in the system of attracting investments.