Prime Minister Askar Mamin chaired an interim session of the Foreign Investors’ Council chaired by the President of the Republic of Kazakhstan.

EY Managing Partner for Kazakhstan and Central Asia Erlan Dosymbekov, Managing Director of Agip Caspian Sea B.V. Nicolo Aggogeri and Country Chair of Shell Olivier Lazare reported on the activities of the council’s joint working groups on the implementation of investment policies, energy, environment and the oil and gas industry, labor legislation, human capital development and attracting foreign labor.

The participants examined the implementation of the protocol instructions of the 32nd plenary meeting of the council and preparations for the upcoming meeting of the Council on the theme “Development of non-resource exports” upcoming this year. The reports the Minister of Foreign Affairs Mukhtar Tleuberdi, Minister of Trade and Integration Bakhyt Sultanov, co-chair of the Council’s working group on the preparation of joint meetings from a foreign side, and Chair of Citibank Kazakhstan Andrey Kurilin were heard.

The prime minister noted that the measures taken by the government and the stability accumulated in the national economy made it possible to ensure steady growth dynamics in the real sector of the economy, the restoration of business activity in the services sector and investment in fixed assets.

So, for 5 months of this year, the volume of mining industry grew by 5.2%, manufacturing industry — 4.9%. In May, compared with April, trade grew by 28.3%, the transport sector — 20.7%, investment in fixed assets — 32%.

The head of government emphasized that the Strategic Development Plan of the Republic of Kazakhstan until 2025 was being developed aimed at creating a new economic structure with an emphasis on the development of a competitive non-resource sector, high-quality investments and integration into regional and global value chains.

“Investments are considered as one of the most important elements of the new plan. We will continue to take measures to increase the investment competitiveness of the economy, stability of investment legislation, create favorable conditions for expanding the business activity of Kazakhstani business and foreign investors in Kazakhstan,” said Mamin.

Along with the permanent representatives of the foreign members of the council, the event was attended by members of the Government, the leadership of the National Bank, the General Prosecutor's Office, Atameken National Chamber of Entrepreneurs and JSC Baiterek NMH, Kazakhstan Center for Industry and Export Qazindustry JSC, and ESK Kazakh JSC Export and others.