Kazakhstan can become important link between Europe and Asia – forum in Almaty

February 17. KAZINFORM. ALMATY

Yekaterina Ionova

Kazakhstan can become important link between Europe and Asia - forum in Almaty“Today Germany is one of the largest and authoritative trade partners and reliable investor of Kazakhstan. In its turn, Kazakhstan is the state with big natural resources and potential of economic growth. Development of our relations is very perspective”, Chairman of the Committee on Investments of the Kazakh Ministry of Industry and Trade Timur Murashev said it at the Kazakh-German Investment Trade Forum Open Your Business in the Heart of Central Asia in Almaty on February 16.

As he noted, the flow of direct investments from Germany to the economy of other countries made USD 0.5 bln during the period 1993-2009 whereas the investments from Kazakhstan to Germany made USD 240 mln.

Nowadays, over 500 German enterprises work in Kazakhstan. This proves the fact of close relationships between our countries. I hope that carrying out of such business forums will become a stimulus for extension of existing productions as well as creation of new enterprises, in particular, in engineering, electric engineering, chemical and pharmaceutical industries. These industries are the most priority ones from the point of view of the economic development of Kazakhstan. 

During the years of independence Kazakhstan attracted foreign investments to the amount of USD 100 bln that is over 80% of all investments deposited to Central Asia and the best index in per capita terms among CIS countries.

The preferences provided by the Law of Kazakhstan “On Investments” can also be mentioned among the measures aimed at supporting investments. At present there are two types of preferences as the relief from customs duty by the import of equipment purposed for implementation of investment projects and the state grants, according to which publicly owned land plots can be donated to investors for implementation of projects in priority branches of the economy. Almost whole processing industry, production and distribution of electric power, transport, tourism and other sectors which are not connected with extracting industry can be related to these industries.

One more measure of support is the special economic zones. Presently there are six special economic zones in Kazakhstan on the territory of which investors are given land plots and significant tax benefits.

Despite the economic crisis Kazakhstan is implementing reforms on modernization of the national economy. At first, this year we start implementation of the state program on forced industrial-innovation development.

11 industries, Kazakhstan will concentrate all its efforts and measures of state support on, were selected within the given program. The priority will be given to the projects on production with high added value in such industries as engineering, agriculture, construction, oil refining, chemistry, petrochemistry, metallurgy, pharmaceutics, infrastructure and energy. At present over 300 investment projects amounted to USD 100 bln are presented in these industries.

The second moment I would like to draw attention to is that the Customs Union between Kazakhstan, Russia and Belarus was created on January 1 this year. I think that it gives new opportunities for investors as far as it opens a market with the population of 170 mln people and overall GDP about USD 2 trln.

http://www.inform.kz/eng/article/2239651

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