11 July, 2018

Prospects for investment cooperation between Kazakhstan and Switzerland discussed

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Prime Minister Bakytzhan Sagintayev held a meeting with Federal Councillor and Head of the Federal Department of Economic Affairs, Education and Research of Switzerland Johann Schneider-Ammann, reports primeminister.kz.

At the meeting, issues of further deepening of trade and economic relations, including investment partnership and interregional cooperation, as well as the prospects of joint projects on the development of transport and logistics infrastructure were discussed.

Sagintayev noted the interest in closer and mutually beneficial cooperation in the areas of energy, transport, small and medium-sized business, as well as in setting up the exchange of new technologies and know-how.  Today there are projects in engineering, construction, agrarian industry, mining and metallurgy complex with the participation of Swiss companies that are implemented successfully in Kazakhstan.

The Prime Minister also emphasized that Kazakhstan has created a favorable climate with significant tax and customs preferences for foreign investors. A visa-free regime for 30 days for citizens of Switzerland has been introduced. The measures taken will increase the number of Swiss enterprises that invest and bring technologies to the economy of Kazakhstan.

In 2017 the trade turnover between the countries amounted to $3.2 billion (exports — $3.1 billion), that is 21% higher than in 2016. In January-May 2018, the trade amounted to $1.14 billion (an increase of 95%), exports — $1.09 billion. In 2005-2017, the gross inflow of direct investments from Switzerland to Kazakhstan was $20.6 billion. As of May 1, 436 legal entities, branches and representative offices with Swiss participation were registered in the Republic of Kazakhstan.

Along with that, Sagintayev invited Swiss financial institutions to take an active part in the work of the Astana International Financial Center, noting that Switzerland and Kazakhstan maintain successful cooperation within international financial structures and are the members of the same group in the International Monetary Fund and the World Bank.

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