Prime Minister Olzhas Bektenov held the 18th meeting of the Kazakhstan–European Union Dialogue Platform on issues of current cooperation and further improvement of the business climate in the Republic of Kazakhstan. The meeting was attended by heads of diplomatic missions, chambers of commerce and industry, and representatives of the business community of EU countries.

The European Union is the largest trade and investment partner of the Republic of Kazakhstan. The trade turnover between Kazakhstan and the EU for the first 9 months of the current year amounted to $33.1 billion. The gross inflow of foreign direct investment from EU countries into the economy of Kazakhstan reached $4.2 billion in the first half of the current year. More than 4,000 enterprises with European capital operate in the country in industries such as mechanical engineering, energy, agrochemicals, pharmaceuticals, the food industry and others. Among them are companies such as Alstom, Claas, Carlsberg, Polpharma and a number of others.

Prime Minister Olzhas Bektenov emphasized Kazakhstan’s interest in deepening cooperation with European partners.

“The Head of our State Kassym-Jomart Tokayev in his Address to the People paid special attention to improving investment policy. We are working to create favourable conditions for long-term investments in the economy. I call on European businesses to implement new joint projects with production localization and expansion of their presence in Kazakhstan,” Olzhas Bektenov said.

In the first 10 months of the current year, investment in fixed capital in Kazakhstan grew by 13.1% and reached 16 trillion tenge.

The Government of the Republic of Kazakhstan consistently strengthens the legal and institutional foundations guaranteeing the protection of investors’ interests and support for business. Within the framework of measures to simplify administrative requirements for businesses, around half of reporting types have been eliminated. Through the EgovBusiness web portal and the mobile application, all public services and support measures for investors are provided through a “one-stop shop” principle. Overall, more than 90% of public services have been converted to online format.

In the new Tax Code, flexible preferences have been preserved for investors in the form of tax benefits, exemption from customs duties, provision of in-kind grants and others.

Infrastructure support for business is provided through ready-made industrial sites in special economic zones, industrial zones and small industrial parks.

Speeches with proposals and recommendations were delivered by EU Ambassador Aleshka Simkich, German Ambassador Monika Iversen, Ambassador of the Netherlands Nico Schermers, Ambassador of France Sylvain Gigaud, Ambassador of Sweden Stefan Eriksson, Chairman of the European Business Association of Kazakhstan Yerlan Dosymbekov, and General Manager of Glovo Kazakhstan (Spain) Laura Martin Alcaras. Issues raised concerned business conditions, predictable tax policy, the rule of law and others.

EU Ambassador Aleshka Simkich noted that Kazakhstan is a key destination for European investors in Central Asia. Energy, digital communications and artificial intelligence, transport, healthcare, agriculture, water resource management and other areas were named as promising areas of cooperation.

“Kazakhstan is improving its position in rankings such as the WEF Global Competitiveness Index. In a number of key indicators for investment, the country leads in the region. Further improvement of conditions for investors could bring significant benefits,” Ambassador of the Netherlands Nico Schermers said.

Ambassador of France Sylvain Gigaud reported growing interest from French companies in the Kazakh market, driven by state-level reforms ensuring a reliable legal framework for investors.

Ambassador of Sweden Stefan Eriksson emphasized the importance of Kazakhstan’s digital transformation and confirmed the interest of Swedish companies in exchanging experience in the field of artificial intelligence technologies.

Based on the results of the meeting, participants confirmed their readiness to provide comprehensive support for the development of trade and economic relations and the intensification of investment ties between Kazakhstan and the EU. The Prime Minister instructed government bodies and organizations to work through all raised issues and recommendations.

#Olzhas Bektenov #International Cooperation #Investments #Trade and economic cooperation

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