Politics • 24 April, 2019

PM discusses Government’s new approaches to improving investment climate

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Prime Minister Askar Mamin held a meeting with Executive Director of the American Chamber of Commerce Doris Bradbury, British Ambassador Michael Gifford, Ambassador of Canada Nicholas Brousseau, Ambassador of the European Union Sven-Olov Carlsson, Charge D'Affaires at the US Embassy in Kazakhstan Theodore Lyng.

At the meeting, issues of increasing investment cooperation and further cooperation in the framework of the new approaches of the Government on the development of an ecosystem to support foreign investors were discussed.

Prime Minister Askar Mamin noted positive dynamics of economic development, growth of trade and investment. In 2018, foreign direct investment in Kazakhstan increased by 15.8% to $24 billion. Kazakhstan’s foreign trade increased by 20% in 2019.

“The fact that the Government of Kazakhstan pays special attention to creating the most favorable conditions for attracting investments and strengthening the protection of investors' rights, and the fact that the Prime Minister of Kazakhstan is directly involved is a very good signal for investors,” said the Executive Director of the American Chamber of Commerce Doris Bradbury.

The heads of diplomatic missions, noting the potential for investment cooperation, expressed support for the work done in Kazakhstan to improve the investment climate and interest in continuing close cooperation. In their opinion, the option of direct discussion of all issues related to the implementation of investment projects at the level of the Coordination Council chaired by the Prime Minister is an important factor for increasing investors’ confidence.

In turn, First Deputy Prime Minister and Minister of Finance Alikhan Smailov, Governor of the Astana International Financial Center Kairat Kelimbetov informed about new approaches for attracting foreign investment. AIFC will become a regional hub for active work with investors. Its territory provides all the conditions for comfortable work and implementation of investment projects. This is a unique legal regime, the first in the CIS space, based on the principles of English law, an independent court and arbitration center.

Summing up the meeting, the Prime Minister Mamin noted that every effort will be made to further improve the investment climate and create favorable conditions for foreign investors to do business in Kazakhstan.

“We are interested in enhancing our interaction. We hope that the new measures to attract investment will give a serious impetus to investment cooperation,” said Mamin.

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