Politics • 24 May, 2019

Ambassador of Kazakhstan in Singapore participated in the World Opportunity Forum

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Dr Usen Suleimen, Ambassador of the Republic of Kazakhstan in the Republic of Singapore, participated in the World Opportunity Forum, reports the press service of MFA.

Ambassador of Kazakhstan tp Singapore Dr Usen Suleimen participated in the World Opportunity Forum organized by SunMedia in partnership with Enterprise Singapore, Singapore Business Federation, Singapore Manufacturing Federation, RSIS NTU and others.

At the Session, dedicated to Investments in Tourism, Technology & Infrastructure in Kazakhstan, Russia and Uzbekistan, Dr. Usen Suleimen informed about the undergoing process of power transition in Kazakhstan and presented the benefits of doing business in Kazakhstan. These include political stability and sustainably growing economy, friendly and intensive relations with main players in the world and all regional countries, trust from foreign investors, continuous reforms to improve the investment climate, launch of the Astana International Financial Centre, Kazakhstan's untapped resource potential and profitable investment opportunities in agriculture, chemicals, mining, tourism and machinery sectors.

Mr. Marat Birimzhan, Deputy Chairman of the "Kazakh Invest" National Company" JSC, also gave a presentation on Top 10 reasons to invest in Kazakhstan. National company Kazakh Invest is a unified negotiator on behalf of the Government of Kazakhstan when discussing prospects of investment projects with foreign investors and a one stop shop organisation to assist foreign investors with all the relevant procedures for investment project implementation in Kazakhstan.

He started with the strategic location of Kazakhstan at the crossroads of Europe and Asia, between the world's two largest markets with easy access to neighboring markets and huge export potential. So it is only natural that Kazakhstan has transformed into a modern transit hub at the heart of Eurasia and key contributor to China's Belt and Road Initiative. He highlighted that Kazakhstan now accounts for 70% of transit land traffic passing between China and Europe, as well as in other directions. 5 railways and 6 automobile international routes ensure transit of commodities through the territory of Kazakhstan 2-3 times faster than maritime transports.

The Astana International Financial Centre with its use of English language for everyday business and the Common Law provides investors with the highest international standards and best practices. This is done also through the AIFC Court and the International Arbitration Centre that are separate from the national judicial system.

One of the best demonstrations of very friendly investment climate is the 28th place in the World Bank's 2019 Doing Business Index.

Participants of the Forum indicated that investment opportunities in Central Asia and Eurasian Economic Union are becoming more lucrative and allow more of foreign businesses, including Singaporean ones to create success stories in this market.

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