Interests of investors will be taken into account – Alikhan Smailov calls on foreign companies to invest in Kazakhstan
Prime Minister of the Republic of Kazakhstan Alikhan Smailov spoke at the Panel Session «Investing in Energy and Food Sustainability. Kazakhstan's case» of the Astana Finance Days 2022 conference.
The event was also attended by Deputy Chair of the Supreme Council for Reforms under the President of the Republic of Kazakhstan Sir Suma Chakrabarti, AIFC Governor Kairat Kelimbetov, Minister of Energy Bolat Akchulakov, Managing Director of Condor Petroleum Inc. Norman Storm, Regional Director of Çalık Holding in Kazakhstan Kenan Akkirman and others.
In his speech, Alikhan Smailov noted that world prices for hydrocarbons and food products are at a historical maximum, which is affecting the quality of life of people in many countries, including Kazakhstan.
«With that in mind, we can certainly appreciate the timeliness of the political reforms, initiated by the President, Mr. Kassym-Jomart Tokayev at the beginning of this year. These reforms, once performed, will, in turn, trigger the deep economic transformations», — said the Prime Minister of the Republic of Kazakhstan.
The Head of Government emphasized that Kazakhstan, having a solid political and economic base, is today the gateway to the largest world markets with a volume of more than 1 billion potential consumers, including the EAEU and China, and is rightfully considered a transit hub in Central Asia.
Over the years of independence, Kazakhstan has attracted 390 billion USD of foreign direct investments. The majority of these investments were attracted in the last 10 years.
In 2021, the inflow of FDI estimated at 24 billion USD, which is 38% higher than in previous year.
That being said, in 2021 the share of investments in oil and gas was 28%, whereas in 2018-2019 this share was as high as 50%.
«This shows the active on-going diversification of the national economy. Considering the global turn of events with the commodity prices, we have to explore more into our energy and agricultural opportunities», — Alikhan Smailov emphasized.
According to the Prime Minister, significant natural resources make our country an important supplier to world commodity markets. Moreover, Kazakhstan ranks 6th in the world in terms of agricultural land.
«Both sectors are important in facilitating investments into creating the high value added products. The Government is providing favorable conditions and support to investors, who come to Kazakhstan», — the Prime Minister noted.
Thus, at present, 13 special economic and 36 industrial zones have been created in Kazakhstan, which provide for a preferential investment regime. In addition, the Astana International Financial Center operates in the country, which serves as a point of attraction for investors from all over the world due to the established Common English Law regime.
«The Government welcomes foreign investors to initiate investment projects and conclude investment contracts. We can ensure that investors’ interests will be taken into account as much as possible», — Alikhan Smailov concluded.
For reference: On June 27-29, the Astana International Financial Center is holding the 5th Astana Finance Days conference dedicated to sustainable development, social responsibility and growth.
Astana Finance Days is one of the largest financial conferences in the region. Over the past four years, the conference has attracted over 15,000 participants from over 100 countries.
Source: Official Information Source of the Prime Minister of the Republic of Kazakhstan
