Prime Minister of Kazakhstan Alikhan Smailov held an interim meeting of the Council of Foreign Investors, which discussed measures and proposals to further improve the investment climate of Kazakhstan.

In his speech, the Prime Minister noted that the Government of Kazakhstan has an ambitious task to increase the volume of the economy by 2029 to $450 billion, that is 2 times.

"During this period we plan to attract at least $150 billion of foreign investment, including through the introduction of ESG principles. To achieve these goals, we are taking systemic measures to improve the country's investment climate," he said.

As Alikhan Smailov noted, the theme of the next plenary session of the Foreign Investors Council is "New Industrialization of Kazakhstan".

"The Head of State in his Address to the people of Kazakhstan noted the importance of forming the industrial framework of the country. The government is aimed at increasing investment, transfer of advanced technologies, localization of production facilities and creation of high-end clusters. The main emphasis will be placed on the accelerated development of the manufacturing sector," he said.

According to him, the legislative base and institutional environment have been formed for this purpose. In particular, the Law "On Industrial Policy" has been adopted and a new Ministry of Industry and Construction has been formed.

"The government will take all necessary measures to maintain the dynamics of economic growth and improve the investment climate. We urge our foreign partners to invest in projects in Kazakhstan," Alikhan Smailov said.

Representatives of Ernst & Young, TotalEnergies, Knauf, KPMG and heads of central government agencies of Kazakhstan also spoke at the meeting.

As a result of the discussion, Prime Minister emphasized that all the proposals and recommendations will be worked out by the Government.

Within the framework of the event Alikhan Smailov also presented letters of appreciation for contribution to the development of the Council of Foreign Investors and the investment climate of the republic as a whole.

In particular, the companies Coca Cola Içecek Kazakhstan, Microsoft, Baker & McKenzie, Cameco Kazakhstan, Chevron Corporation, Deloitte, Exxon Mobil, Glencore, Marubeni and others were noted.

"Over these years, joint efforts have launched new production facilities, implemented major projects, and most importantly, created thousands of jobs. I am convinced that our cooperation will steadily develop, bringing mutual benefit and opening huge prospects. The Government of Kazakhstan is ready to deepen investment ties and realize new joint projects," Prime Minister emphasized.

For reference: The Council of Foreign Investors is a consultative and advisory body under the President of Kazakhstan. The main task of the Council is to develop recommendations and proposals for determining the main directions of investment policy of Kazakhstan, improving the investment climate and improving the regulatory legal framework of the Republic of Kazakhstan on investments. Currently, the Council includes heads of 33 large transnational foreign companies and international organizations, as well as 9 observers from the foreign side.

#Alikhan Smailov #The Prime Minister of the Republic of Kazakhstan #Economy #Foreign Investors Council #Industry #Investments