Interview

Expert: “Within EEU Kazakhstan Provides Most Favorable Conditions for Foreign Investors”

2 december 2015

Attracting investment is one of the most important factors that determine economic growth and competitiveness of the national economy. In this regard, the Government of the Republic of Kazakhstan is implementing a number of programs aimed at improving the business climate.

The President Nursultan Nazarbayev in his Message to the people of Kazakhstan paid special attention to the importance of intensifying efforts to attract investment. “It is necessary to increase the annual volume of investment in the economy by more than $10 billion, and in general for 10 years – by at least $100 billion,” claimed the Leader of the Nation.

The Head of Deutsche Bank AG in Kazakhstan, Chairman of the Boards of the Association “Kazakhstan Council of Foreign Investors” Ulf Vokurka commented on the success of Kazakhstan’s investment policy and its perspectives.

“The representation office of Deutsche Bank has been operating in Kazakhstan 22 years, and during that time through Kazakhstani banks and companies were funded projects worth $ 50 billion. We are very interested in Kazakhstan's policy to diversify the economy and to increase the depth of processing of mineral resources. In this regard, the majority of funded projects are related to the import of high-tech equipment for Kazakhstani enterprises,” said the speaker.

According to the words of Ulf Vokurka, in recent years, Kazakhstan has made significant changes in the legal framework what enabled to create the most favorable conditions for investors.

“The innovations relate not only to investment incentives, compensation of investment costs, but also the creation of special economic zones, where favorable conditions are being created for the real sector. All this has allowed Kazakhstan to become a leader in attracting foreign capital not only in Central Asia, but also within the EEU,” he said.

The expert stressed that Kazakhstan will achieve further progress thanks to the National Plan “100 concrete steps” on the implementation of five institutional reforms. Certainly, the anti-crisis program of the President is an ambitious response to the global economic challenges and allows preserving the potential for future growth.

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