June 9, 2022

Kazakhstan will strengthen the policy of open doors for

Further improvement of the investment climate and advancement of the system for protecting the legal rights of investors are the strategic tasks of the state. President Kassym-Jomart Tokayev said this at the 34th plenary meeting of the Council of Foreign Investors.

According to the information of head of state, last year foreign partners invested about $24 billion in our economy. This is 38% more than a year earlier.

“It is noteworthy that over 60% of foreign investment is already falls in the non-primary sector of the economy. We highly value these investments and will do our best to irreproachably fulfill all our obligations to foreign partners. Kazakhstan will only strengthen the policy of open doors for investors,” the head of state assured.

Kassym-Jomart Tokayev also announced his readiness to create all institutional conditions for establishing direct interaction with foreign companies, including by relocating them to our country or opening joint ventures.

“We are aimed at developing innovations and increasing the level of human capital in the country. I believe, that the Council of Foreign Investors should play its role here, especially in terms of finding mutually beneficial solutions and exchanging experience in topical areas of cooperation. The government, together with the Council, needs to analyze and develop practical measures to address these issues,” he instructed.

The President added that systematic work to improve the investment climate will be accompanied by large-scale reforms. We are talking about the development of fair competition, the eradication of corruption, effective public administration, improving the quality of human capital, and reforming the judicial system.

Source: Capital