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KAZAKH INVEST reviewed the results of the first half of the year

KAZAKH INVEST reviewed the results of the first half of the year

The first half of 2019 saw the launch of 4 investment projects worth $ 217 million, commencement of construction and installation works of 12 projects worth $ 1.7 billion as well as advancement of 34 projects worth $ 7.1 billion to the active implementation phase. KAZAKH INVEST had been supporting all these projects.

KAZAKH INVEST reviewed the results of the first half of the year. The specific tasks for 2019 included assistance in commissioning of 30 projects worth $2 billion and commencement of construction and installation works of 35 projects worth $ 4 billion. New sectors of the economy, such as renewable energy and information and communication technologies, account for about 40% of the projects planned for commissioning. Solar power plants with a combined capacity of 400 MW, wind power plants (90 MW) and hydro power plants (25 MW) will be commissioned in 2019. The total investment value of the power plants will be $680 million.

In May this year, KAZAKH INVEST organised the third annual Kazakhstan Global Investment Roundtable (KGIR-2019). KGIR-2019, one of the key events for Kazakhstan’s business and foreign investors’ community, gathered over 1100 heads of the world’s major companies and domestic enterprises, international experts, representatives of international and state organizations. About 600 of them were foreign participants from 41 countries (the USA, the UK, Germany, France, Italy, Turkey, India, Singapore, Korea, the UAE). They included the top management of the global companies, such as Cisco, Nokia, CITIC Bank Corporation, WILO SE Group, AGCO Corporation, Valmont Industries, Tyson Foods, Yildirim Group and others. Agreements for about $9 billion were signed during KGIR-2019.

KAZAKH INVEST, a single negotiator on behalf of the Government operating on the one-stop shop principle, has built a “soft infrastructure” for investors, including systematic work for clarifications of Kazakhstan’s legislation and procedures, transparency of decision-making, and reduced administrative burden.

It is worth noting that on 13 August this year, the Government of Kazakhstan approved a new procedure for interaction with investors on the “one-stop shop” principle as well as as well as the new cooperation procedures for investment attraction. The mechanism of work with investors is based on three levels, namely external, central and regional.

Today, the unified national interactive internet resource invest.gov.kz functions in Kazakh, English and Russian. The website not only provides all the necessary information about the investment climate, opportunities in the priority sectors and projects requiring investment, but also offers a platform for sending requests. A call center for investors +7 717 2 620 620 operates 24/7 and has provided over 1200 consultations to investors. Within the framework of the Investment Ombudsman activities, KAZAKH INVEST received 35 requests from investors regarding issues arising in the course of investment activities, of which 7 requests have been positively resolved, 2 - clarified in accordance with the current legislation, and 26 - in progress.

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