Attractive for investments

Dec 10. Kazpravda

By Alexey Zhukov

Attractive for investmentsThe Kazakh-American Investment Forum organized by JSC “Samruk Kazyna” and the Kazakh Embassy in the U.S. in partnership with Newsdesk Media took place in New York, – the National Welfare Fund’s press service informs.

The participants discussed a wide range of opportunities for cooperation in oil and gas, nuclear industries, in renewable energy sources, telecommunications, agricultural and financial sectors of the economy.

The Kazakh-American Investment Forum is an integral part of annual events of the U.S. investment calendar, and has the support at the highest level. It was attended by representatives of the government agencies and business circles of both countries. The Kazakh delegation was headed by Minister of Economic Integration Zhanar Aitzhanova.

In his welcome speech to the participants of the forum during the broadcast teleconference, Prime Minister Karim Masimov who marked the country’s achievements over 20 years of Independence also highlighted the main objectives of the modern economic policy.

Ambassador of Kazakhstan to the United States Yerlan Idrisov said, that we could be proud of the fact that Kazakhstan in its development came to the level, which allowed us recently to apply for the membership in the Organization for Economic Cooperation and Development.

Deputy Chairman of the Board of JSC “SamrukKazyna”, Aidan Karibzhanov noted the possibility of the next wave of the global crisis. Taking into account this situation, the Fund has identified the key development priorities. First is improving the efficiency of JSC “SamrukKazyna” as a management holding to increase long-term value of the companies comprising the Fund. Second priority is investment in industrial projects. “SamrukKazyna” is implementing large investment projects totaling $ 20 billion in such branches as oil refining, metallurgy, energy, chemicals and petrochemicals, consumer goods and machinery.

The third objective, according to A.Karibzhanov, is to create incentives for innovation and development of innovations in the subsidiaries of the Fund. The fourth priority is to launch “The People’s IPO and the fifth – further regional integration within the Customs Union and other economic integration organizations.

In general the forum debates involved seven breakout topics: “The investment climate in Kazakhstan: Opportunities and Challenges”, “National Welfare Fund “SamrukKazyna “: ” Millennium Development Goals of the real sector “, ” International Partnership for the nuclear industry “,” Mobilization of the upstream activity in Kazakhstan in order to promote industrial development and diversification,” ” Prospects for Kazakhstan’s financial sector “, ” The potential of the U.S. businesses in the agricultural sector of Kazakhstan “,” Understanding the RK taxation of the investors working in Kazakhstan. ”

Such issue as the forthcoming accession of Kazakhstan to the WTO was of particular interest at the forum, as well as the country’s involvement in the Customs Union and Single Economic Space. The participants agreed that Kazakhstan’s activity within the customs area, which unites 170 million consumers, increases the investment attractiveness of our country.