Government • 23 October, 2018

Bakytzhan Sagintayev instructs regional akims to intensify work to attract private investment

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At the meeting of the Government, following the consideration of the issue of attracting investments, Prime Minister Bakytzhan Sagintayev gave a number of specific instructions to further improve the investment climate and increase the volume of attracted foreign investments in the country's economy.

For 9 months of 2018, growth was achieved in all key indicators of attracting investments. New businesses and new jobs are being created. Investors at all levels are provided with state support measures. New approaches to attracting investment are being introduced. At the same time, the Prime Minister drew attention to a number of aspects that require additional work.

First. Special akim deputies were appointed to work with investors in the regions, in each region there are representatives of Kazakh Invest, investor service centers and regional investment offices. Thus, all the conditions have been created in the regions for effective work to attract investors. Akims of the regions are entrusted to strengthen the work of coordination and interaction of all headquarters.

According to the Ministry of Investment and Development, in 2005–2017, $264 billion of foreign direct investment was attracted to the country. However, the volume of investments does not reflect the work on attracting private funds. In general, investment is growing in Shymkent — 275%, while the share of private is only 65%. The same situation is in the North Kazakhstan, Aktobe, Kyzylorda regions and Astana. In this regard, Prime Minister Bakytzhan Sagintayev drew the attention of akims to the need to increase the volume of private investment. For this purpose it is entrusted to create comfortable conditions for private enterprises, entrepreneurs.

In addition, it is noted that in foreign missions, this work should also be strengthened and well coordinated. The main work of the embassies is investment attraction issues. It was instructed to analyse attracted investments of all embassies and KPIs of their work: from which country, with which embassy how many investments were attracted.

Second. Investment forums held in the regions: a lot of memorandums and agreements on a number of projects are signed after each of them. Sagintayev instructed to analyze and improve the quality of implementation of investment projects under the signed memorandums. Successful activity of enterprises gives an additional increase in the economy of the country.

Third. Foreign investors operating in Kazakhstan stay in the country with family members. Thus, there are often questions of their registration, the provision of children with pre-school institutions, schools, medical care and other services. In this regard, the importance of the proposed project to centralize all services for investors on one portal was noted.

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