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The Eastern Committee of the German economy positively assesses the investment climate in Kazakhstan

The Eastern Committee of the German economy positively assesses the investment climate in Kazakhstan

Today, on the eve of the Astana Economic Forum, the 23rd meeting of the Berlin Eurasian Club was held on the issue “Privatization program in Kazakhstan – Chances for German medium business?”. The organizers of the event were Kazakh Invest and the Embassy of the Republic of Kazakhstan in the Federal Republic of Germany.

Participants of the event discussed topical issues of bilateral economic cooperation, noting that Germany is a strategic partner of Kazakhstan in the European Union.

“Today the whole pool of opportunities that investors, German investors including, can realize. This is a new investment strategy, a change in the legislation on subsoil, the creation of the AIFC based on English law, etc. I think that such forums are very helpful in bringing together the positions of entrepreneurs fr om different sectors. At this forum, representatives of the Ministry of Investment and Development, AIFC, Kazakh Invest showed all these innovations in the legislation and existing opportunities”, - said Kairat Kelimbetov, the Manager of the Astana International Financial Center.

Representatives of the German side noted the need to intensify investment cooperation, including in the framework of technological development during the event.

“We assess the investment climate in Kazakhstan as very positive. Moreover, this is noted in all international rankings. It is very important that Kazakhstan is guided by the best international practices. In addition, the German business is very detailed and carefully fixes it. We had the first experience when large German companies came to Kazakhstan. Now I think it is very important to attract the medium German business. It is the leader in many industries, so it will be particularly interesting in terms of the efforts of our technological cooperation. Here Kazakh Invest plays a very important role, namely, presenting information and support for specific investment projects”, - said Michael Harms, Managing Director of the Eastern Committee of the German Economy.

In his turn, the Chairman of the Investment Committee of the Ministry of Investment and Development of the Republic of Kazakhstan Yerlan Khairov noted that about 90 percent of investments that came from Germany were directed primarily to the manufacturing sector. “On behalf of the Head of State Exactly, in the sector it is necessary to strategically attract investors. In addition, we see that German business has responded to this call, the interest of German companies to participate in the state program of industrialization. In this regard, we create the necessary platform and provide appropriate preferences”, - Yerlan Khairov.

During the forum, Deputy Chairman of Kazakh Invest Marat Birimzhan described in more detail what kind of investment opportunities exist in Kazakhstan and urged German companies to participate in the Privatization Program: “Kazakhstan is not only the transit country, but also the country wh ere one can place its production in order to export to nearby countries. Kazakh Invest provides investors with point information on prospective investment projects, as well as on the implementation of the privatization program”, - he said.

Following the results of the event, the German side highly appreciated the importance of economic reforms in the RK and expressed interest in further cooperation.

For reference: The Berlin Eurasian Club (BEC) is the first project of this kind in Kazakhstan in Europe aimed at strengthening expert dialogue between European and Asian cultures. The functions of the BEC secretariat are jointly implemented by the Embassy of the Republic of Kazakhstan in the Federal Republic of Germany and the Eastern Committee of the German Economy – the leading economic organization of the country, dealing with the current international problems in the global economy.


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