Kazakh Invest and QazIndustry discussed the investment attraction strategy in light of the new tasks imposed by the State Programme of Industrial-Innovative Development

Kazakh Invest and QazIndustry discussed the investment attraction strategy in light of the new tasks imposed by the State Programme of Industrial-Innovative Development

To implement the State Programme of Industrial-Innovative Development of the Republic of Kazakhstan 2020–2024 (the Programme) and enhance measures on investment attraction, the management of Kazakh Invest and Kazakhstan Industry and Export Centre QazIndustry discussed areas of cooperation and solutions for current issues.

During the meeting, Alisher Abdykadyrov, the CEO of QazIndustry, presented the draft Programme 2020–2024 that envisages a transition from the sectoral priorities to support of efficient export-oriented producers in all sectors of the manufacturing industry. “In line with implementation of the Programme 2010-2018, we have already managed to achieve significant progress in development of Kazakhstan’s industries, but now a “jump” in exports development is required. For instance, for sustainable growth of budget revenues, it is necessary to expand tax base by stimulating exports of finished goods. There are already cases of successful development of domestic producers and their expansion to overseas markets resulting from strategic partnership with foreign companies”, - noted Alisher Abdykadyrov.

Also, during the discussion on implementation of the State programmes, Baurzhan Sartbayev, the CEO of Kazakh Invest, proposed a modernized format of the Programme based on the several stages, including inventory and consolidation of all data, such as inclusion of all the existing measures of state support in the unified reference guide and appointment of a single operator for business support, enhancement of technical regulations for increasing competitiveness of domestic producers, work on reducing production costs and increasing domestic demand, possibility of creating Special Economic Zones / Industrial Zones on the territories of single-industry towns and others.

“To date, there are many different development institutions, national companies and other organizations attracting foreign investments in Kazakhstan. However, their goals are frequently not aligned. Now we are working on the establishment of a mechanism for interaction and alignment of joint efforts to improve cooperation efficiency between such institutions in Kazakhstan and implementation of the goals and objectives of state development, particularly the Programme. Additionally, it is necessary to streamline and improve procurement procedures with the unified list of priority products, as well as the mechanism for concluding investment contracts and agreements on increasing competitiveness aiming for their further integration”, - said the Head of Kazakh Invest.

Also, during the meeting, the idea of ​​creating a “certificate for technological development” was touched upon, which is a measure of state support for the development of mass entrepreneurship and an increase of the share of domestically processed goods. This tool is being created in order to increase efficiency of enterprises in the manufacturing industry by enhancing productivity of the enterprises, eliminating gaps in access to engineering and production personnel, introducing innovations and increasing levels of financial management in production.

Following the meeting, the parties agreed on cooperation and exchange of available statistical and analytical information on the state and trends of development Kazakhstan and global economy and industry, as well as implementation of the State programmes related to industrialization. QazIndustry and Kazakh Invest signed a respective document. 

Kazakh Invest, acting as a “single negotiator” on behalf of the Government of the country, provides a full range of services for implementation of investment projects, including business registration, obtaining various permits and approvals necessary for conducting investment activities in the Republic of Kazakhstan. 

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