Economy • 03 July, 2018

Bakytzhan Sagintayev invites foreign investors to invest in processing industry

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The Prime Minister Bakytzhan Sagintayev took part in the work of the second Kazakhstan Global Investment Roundtable. The main goal of the event is to show investment opportunities in Kazakhstan, discuss the policy in the spheres of investments, economic growth and improvement of competitiveness.

Over 550 large entrepreneurs and investors from 40 countries of the world (Great Britain, Germany, France, Turkey, the UAE, Qatar, the PRC and others) took part in the Roundtable.

Within the forum, the policy of investment in such sectors of the economy, as privatization, development of agro-industrial sector, digitalization, ebergy, machine-building, infrastructure and logistics are discussed.

Opening the plenary session, the Prime Minister of Kazakhstan noted the improvement of the investment legislation will help foreign investors to take a fresh look at the economy of Kazakhstan.

Co-host of the “Street Signs” television program Oriel Morrison moderated the event. During the discussion, Sagintayev explained why it is necessary to invest in the economy of Kazakhstan.

“The Government of Kazakhstan creates all conditions for investors and their successful work on the territory of the country. We made it possible for our investors to feel confident. And we guarantee the protection of investments in our country. Because our strategic goal is to join the Top-30 countries by 2050. To reach this goal, we must move forward together with our investors,” the Prime Minister said.

Bakytzhan Sagintayev also invited investors to invest in processing industry. For the years of implementation of the first five-year plan of the program of industrial and innovative development, nearly 3,000 new enterprises have been built in the country. Today the production of domestic processing industry is supplied for $15 billion already.

In the framework of the talks, the participants of the forum considered the further development of investment cooperation. The foreign investors shared their opinions on business management in Kazakhstan: to what extent it became more attractive to invest in Kazakhstani projects.

So, Vice Chairman of SUN Group Shiv Khemka spoke about the dynamics of improving the investment climate in Kazakhstan.

"Now we see a completely new era. I want to congratulate the Head of State and the Government of Kazakhstan for the remarkable success story. I came to Akmola for the first time in 1996, it was a small town. Today I see a completely different Astana, a completely new city. And I see that the Government of Kazakhstan has made a huge effort to simplify the conditions for investors.

The Government is constantly looking for opportunities to make systematic changes, it became much easier to interact with government agencies," Shiv Khemka said.

In his turn, Chairman of the Board of Directors of ROTEC Mikhail Lifshitz said that the business climate in Kazakhstan is very positive and over the years it has become more comfortable to work with the Kazakh side.

"About 50 of our turbines work in Kazakhstan and we cover about 15% of generation. Of this volume, over the past 10 years, 18 projects have been made, which confirms our interest in investing. In general, it is very comfortable to work in Kazakhstan and this is not flattery," Lifshitz said.

Secretary General of the UAE International Investors Counsil Jamal Saif Al Jarwan noted that Kazakhstan pays great attention to attracting investments. The countries signed bilateral agreements, thanks to which UAE investors can work in Kazakhstan.

During the plenary session, Renaissance Capital’s Global Chief Economist Charles Robertson, Vice Chairman of IHS Markit Daniel Yergin and others took the floor.

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