Government • 08 June, 2018

Kazakh President meets with business people of the People's Republic of China

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During the meeting, the Head of State stressed that the People's Republic of China is one of the most important strategic partners of Kazakhstan, and noted the historically established friendly and trusting relations between the two countries, reports

- China ranks 4th in terms of direct investment in Kazakhstan. In 2017, the trade turnover between our countries amounted to $ 10.5 billion, an increase of 33%, the President of Kazakhstan said.

Nursultan Nazarbayev pointed out that in Kazakhstan there are more than 1200 enterprises with participation of Chinese capital in the oil and gas, chemical and food industries, as well as in banking, engineering, logistics and other spheres.

- Today the Business Council has taken place with more than 300 representatives of business of both countries. We have signed approximately 40 commercial documents worth more than 13 billion dollars. In addition, within the framework of cooperation in industrialization and investment, a list of 51 projects has already been formed for a total of about $ 28 billion, the President of Kazakhstan said.

The Head of State told entrepreneurs at the meeting about Kazakhstan’s profitable geopolitical location and advantages of doing business connected with this factor.

- Kazakhstan is a member of the Eurasian Economic Union with a population of more than 180 million people, where there are no customs borders. Through the territory of Kazakhstan, there are 5 railway and 6 automobile international routes that connect China and other Asian countries with Europe through Russia, the Caspian and Black Seas, as well as Iran and Turkey. This allows you to deliver goods to Europe from China via Kazakhstan and back for 15 days, while shipping by sea takes 2-3 times more time, Nursultan Nazarbayev stated.

Along with that, the President of Kazakhstan has drawn attention to the measures taken to increase investment attractiveness and improve the business environment. In particular, liberalization of business legislation, establishment of the Council of Foreign Investors, Kazakh Invest and Kazakh Export national companies, simplification of the procedure for attracting foreign labour and obtaining licenses and concluding subsurface use contracts, as well as establishing tax incentives and preferences for participants of 11 special economic and 24 industrial zones.

- Our country is implementing the state program for agro-industrial complex development, as well as Digital Kazakhstan special state program. The concept of developing the tourist industry has been adopted. We are considering the possibility of our major national companies entering the IPO on the stock exchanges of Hong Kong and Shanghai. Based on the EXPO infrastructure, Astana International Financial Centre starts its work, which is intended to become a regional centre for the development of "green", Islamic and innovative financial instruments. I invite Chinese companies to participate in implementing these large-scale projects, Nursultan Nazarbayev said.

During the meeting, representatives of leading Chinese companies expressed high interest in establishing business contacts with their Kazakh counterparts.

In conclusion, the Head of State expressed his confidence that such meetings would promote even greater rapprochement between the two countries and strengthen the mutually beneficial partnership.

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