Expansion of European companies presence confirms growth of investment attractiveness of Kazakhstan
In Astana, chaired by Prime Minister Alikhan Smailov held the 13th meeting of the dialog platform "Kazakhstan-European Union". The event was held with the participation of the first heads of central government agencies, representatives of the diplomatic corps and business, El.kz cites primeminister.kz.
The meeting discussed in detail the issues of improving the tax and customs systems of the Republic, the development of the pharmaceutical industry, geological exploration and agricultural industry, licensing, crediting and business support, reducing the burden of export-import operations, as well as a number of others.
In his speech Prime Minister noted that today the European Union is the largest trade and investment partner of Kazakhstan. The total volume of European investments exceeded $175 billion. In particular, for 6 months the EU countries invested $5.2 billion in the economy of Kazakhstan.
"In Kazakhstan's foreign trade, the share of the EU is about 30%. For 10 months our trade turnover exceeded $34 bln. These indicators reflect our consistent course to increase trade and economic cooperation," Alikhan Smailov said.
He added that today more than 3 thousand European companies, including such major transnational corporations as Shell, Eni, Air Liquide, Alstom and Claas, are successfully working in various sectors of the economy of Kazakhstan.
"This year has been very fruitful in the development of investment cooperation. Our joint pool is replenished with new major projects. Bright examples are the implementation of the project for the production of green hydrogen by Svevind, the conclusion of an agreement with Total on the construction of a wind farm with a capacity of 1 GW, the plans of Knauf to open the 4th plant for the production of gypsum board, as well as the launch of large-unit assembly of vehicles by Scania," Head of the Government voiced.
According to him, the trend of expanding the presence of European companies in Kazakhstan is a direct confirmation of increasing investment attractiveness of the republic.
Prime Minister reminded that Kazakhstan adopted the Concept of Investment Policy until 2026, taking into account ESG standards. To provide projects with quality infrastructure, the National Infrastructure Plan until 2029 is being developed. As part of the new Tax Code will be introduced service model of administration.
"A National Digital Investment Platform is being developed for the convenience of investors to receive public services and quality support for projects," Alikhan Smailov said.
In general, according to him, the Government of the Republic of Kazakhstan will continue a consistent state policy aimed at creating a favorable investment climate.
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