The Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan at the Enlarged Session of the OECD in Paris
From November 5 to 7, Chairman of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan Gabidulla Ospankulov and Director of the Investments facilitation department of JSC "NC "KAZAKH INVEST" Alida Tuyebekova participated in the Organization for Economic Cooperation and Development (OECD) investment week. The event was dedicated to discussing new approaches in the context of the changing landscape of investment policy and investment promotion strategies worldwide.
The event's program included the OECD Roundtable on Investment and Sustainable Development and an enlarged session of the Investment Committee. On the sidelines of the event, G. Ospankulov also met with Ana Novik, Head of the OECD Investment Division of the Directorate for Financial and Enterprise Affairs.
Participants discussed the implications of the new industrial policy for international investment and sustainable development and OECD research data, including indicators such as the quality of FDI and the Index of Regulatory Constraints for FDI. Next, the participants considered new policy instruments for climate change adaptation and the promotion of sustainable investment, in particular, the unique role of international investment agreements. These agreements will contribute to achieving sustainable development goals by creating mechanisms for global cooperation and their implementation at the national level.
At an enlarged session of the OECD Investment Committee, the Secretariat presented the first draft of a Practical Guide on Investment Preferences, including tax preferences. The head of the Kazakh delegation noted that the specifics and conditions of each individual country's development must be taken into account when developing this document.
At the end of the week, the participants agreed to explore practical recommendations and policy tools to ensure the inflow of high-quality investments, promote the achievement of Sustainable Development Goals, and achieve zero emissions by 2050. They also agreed to effectively coordinate the actions of the global investment community, regardless of the level of development of the regions and countries represented.
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Kazakhstan has been cooperating with the OECD since 2008 within the framework of the Eurasian Competitiveness Program, which includes 13 countries in Central Asia, the Caucasus, and Eastern Europe. In June 2017, Kazakhstan officially became an OECD Investment Committee associate member. Moreover, Kazakhstan became the 48th country to join the OECD Declaration on International Investment and Multinational Enterprises. Kazakhstan's accession to the OECD Investment Committee and accession to the Declaration attests to Kazakhstan's desire to provide an open and competitive environment for international investment.
