Prime Minister of the Republic of Kazakhstan Olzhas Bektenov held a meeting on the implementation of the President’s instruction to launch a new investment cycle and increase the volume of high-quality investment. The meeting was attended by Prosecutor General Berik Assylov, members of the Government, ministers and regional akims, as well as the management of Samruk-Kazyna, Baiterek, KAZAKH INVEST, and the Atameken.
The meeting reviewed the ongoing work carried out by the Government, the Prosecutor General’s Office, national companies, and other organizations to create a unified framework for a new investment support ecosystem.
“The President has tasked all state bodies and organizations with increasing the inflow of high-quality investment and ensuring the implementation of breakthrough projects with high added value. The Investment Policy Concept through 2030 has been updated. We must jointly create a favorable investment climate, support productive operations, protect investors’ rights, and accompany projects of national importance at all stages of implementation,” Olzhas Bektenov emphasized.
To achieve these objectives, approaches within the public administration system to attracting investment and forming a pipeline of new projects have been revised. In particular, a transition is underway toward a proactive model that предусматривает strengthened investor targeting and the formation of an “investment order” in the form of a pre-developed and coordinated project package.
Deputy Prime Minister and Minister of National Economy Serik Zhumangarin reported that last year investment in fixed capital amounted to 22.7 trillion tenge. For the current year, targets have been set at 31.5 trillion tenge in fixed capital investment and USD 25.5 billion in foreign direct investment inflows. The implementation of 475 investment projects worth 16 trillion tenge is planned, with the creation of more than 1,100 permanent jobs. At present, 1,047 projects from the nationwide pool, totaling 74.5 trillion tenge, are at the implementation stage on the National Digital Investment Platform. In the past year, 273 projects worth 2.49 trillion tenge were launched. Overall, under the Investment Policy Concept, total investment volume must be increased threefold.
Deputy Minister of Foreign Affairs Alibek Kuantyrov reported on strengthening the external dimension of investor attraction. He cited concrete results of investor targeting and investment proposal development, including projects by CHN Corporation (a coal-chemical complex in Karaganda Region worth USD 4 billion), Roca Group (a sanitary ware and bathroom furniture plant in Kyzylorda Region worth USD 70 million), Fufeng Group (a deep corn processing plant in Zhambyl Region worth USD 800 million), UBM Group (feed mills in Kostanay and Almaty Regions worth USD 58 million), and Shandong Yuwang Industrial (a deep soybean processing project worth USD 250 million). It was noted that, together with international consultants, investment proposals have been prepared for priority areas. Overseas representations of KAZAKH INVEST are being strengthened in key locations, including Germany, the United States, China, Qatar, Russia, Turkey, and Malaysia.
The meeting also addressed measures to protect investors’ rights and strengthen legal mechanisms for project support. By instruction of the Head of State, the Asset Recovery Committee under the Prosecutor General’s Office has been transformed into the Committee for the Protection of Investors’ Rights, and the functions of the Investment Ombudsman have been assigned to the Prosecutor General.
The Prime Minister stressed that this is a serious step that must strengthen legal protection of capital in Kazakhstan, and that the Government must ensure full cooperation with the new body.
Prosecutor General Berik Assylov noted that investment prosecutors have already begun working at the local level.
“By instruction of the Head of State, the prosecutor’s office accompanies investment projects. We will issue binding orders and instructions, which is critically important. We will coordinate and carry out international legal cooperation to protect investors. Together with state bodies, we will conduct a review of all investment projects. With a clear overall picture, we will promptly accompany each project,” Berik Assylov stated.
Currently, the key tool for reducing administrative pressure is the “prosecutorial filter.” A total of 27,000 decisions by state bodies have been reviewed, more than 1,000 unjustified initiatives have been rejected, nearly 500 administrative proceedings have been stopped, 400 unlawful inspections have been canceled, and 200 other restrictive measures have been prevented. Overall, these measures have reduced court disputes involving investors by 30 percent, administrative offense cases by 10 percent, and criminal cases by half.
Digitalization of investment project support was identified as another important direction, enabling online monitoring of each initiative and real-time identification of risks and delays. According to the Prosecutor General’s Office, issues affecting nearly 2,000 investors have been resolved, and 250 projects have been launched, creating 25,000 jobs. At the same time, a number of problem areas remain and require joint solutions.
The Ministry of National Economy, together with the Ministry of Foreign Affairs and the Prosecutor General’s Office, was instructed to complete a comprehensive review of all current investment projects as soon as possible.
Olzhas Bektenov emphasized that protecting investors’ rights and creating a favorable investment climate is a shared responsibility of all state bodies, especially those at the forefront of interaction with business.
“Every foreign or domestic investor must be confident that their interests are protected, disputes are resolved objectively, and state institutions act within transparent and predictable rules. Many problems stem from bureaucracy and delays at the local level. It is unacceptable when an investor ready to invest in our economy cannot obtain basic technical specifications or title documents for months. These are direct losses for the national economy,” Olzhas Bektenov stressed.
The Prime Minister criticized the performance of KAZAKH INVEST and regional akimats for shortcomings and obstacles to the implementation of already approved projects. At present, out of 25 projects sent to regions for implementation, active work is underway on only three. A reprimand was issued to the Chairman of the Management Board of KAZAKH INVEST Sultangali Kinzhekulov.
The Head of Government instructed state bodies to take all necessary decisions on the remaining investment projects within three days. In the absence of concrete results, disciplinary liability of responsible officials will be considered. All materials on cases of obstruction of investor activity have been transferred to the Prosecutor General’s Office.
