Together with OECD in last 5-6 years, we restructured internal investment climate — Kazakh Invest

Today, at the press conference following the Government meeting, Chairman of the Board of “Kazakh Invest” NC” JSC, Saparbek Tuyakbaev, answering the questions of journalists, noted that now it is the time to attract investments into the non-primary sector of the economy.

As noted by Saparbek Tuyakbaev, to date, not only the domestic investment climate, but also the macro-region conditions around Kazakhstan have changed a lot.

"Kazakhstan is a country without access to sea routes and this complicates logistics, it is expensive to supply, and for many TNCs, to locate production in Kazakhstan for the purpose of further export of goods, it was very difficult and unattractive. Now, thanks to Nurly Zhol programs, infrastructure projects, the initiative of the new Silk Road, all of this is changing," Saparbek Tuyakbaev said.

According to him, today container shipments are delivered from Western Europe to the East coast of China. Work is also being conducted towards the Persian Gulf. Kazakhstan is becoming a transit country.

"If you deliver goods by rail, it's a bit expensive, but if you cut the road 3-4 times, it becomes attractive for the majority. Every minute of lost time, is a loss of money for many investors. If you look at the trade turnover through Kazakhstan, then for the last 3-4 years it has been increasing significantly every year," Saparbek Tuyakbaev said.

Now Kazakhstan is becoming a transit country, logistics is cheapening, conditions are being created for entering large markets. Kazakhstan is located between the two largest markets of the world: the European Union and China.

"Moreover, as part of the European Union, as EAEU, we already have a market with a population of 180 million, e.g. this is a big market and Kazakhstan is becoming very attractive for many large investors. Also, together with the OECD in the last 5-6 years, we have rebuilt, restarted the internal investment climate. This is the purpose Kazakh Invest was created for: to look for, to travel, find investors and then accompany them, so that they could create business here. We believe in this, and I think that we will succeed," Saparbek Tuyakbaev summed up.

It should be recalled that today during the meeting of the Government chaired by the Prime Minister Bakytzhan Sagintayev, the Chairman of the Board of Kazakh Invest NC, Saparbek Tuyakbaev made a report on the conducted work on attracting foreign investments within the framework of the National Investment Strategy of Kazakhstan for 2018-2022.

Saparbek Tuyakbaev said that based on the needs of the economy, a list of 145 projects with the participation of foreign investors for a total of $47.8 billion and with the creation of about 35 000 jobs, was developed. In 2018, the task is to attract investors for the implementation of 17 large projects worth $16.4 billion.


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