Foreign investment in Kazakhstan surpasses $300B: Nursultan Nazarbayev

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BEIJING. KAZINFORM - Meeting with China's captains of industry, Nursultan Nazarbayev maintains that investing in Kazakhstan is advantageous, Kazinform correspondent reports in China.

"Nowadays, Kazakhstan is new opportunities and a great potential for doing business beneficially. First, we are continually working to improve the investment climate, liberalizing the legislation on entrepreneurship. Kazakhstan is currently 36th in the World Bank's Doing Business ranking. We are an associated participant of the OECD Investment Committee and have joined the OECD Declaration on International Investment," the Head of State said.

According to him, in 2017, the foreign investment grew by $9 billion and exceeded $300 billion, whereas the per capita investment was twice as high as the world average. 20% of all investment accounted for the non-resource-based sector.

Nursultan Nazarbayev informed the Chinese entrepreneurs that there is the Foreign Investors' Council under the President of the Republic of Kazakhstan that meets once a year.

"For effective coordination with investors and businesses, we have established KazakhInvest and KazakhExport, special companies that work with every investor coming to us. Upon implementation of investment projects in the priority industries such as metallurgy, petrochemicals, mechanical engineering, food production, we grant exemption from corporate, land, and property taxes," the President of the Republic of Kazakhstan underlined.

The Head of State said that in the Republic of Kazakhstan, there are 11 special economic zones, about 24 industrial zones, the participants of which are granted tax privileges and other preferences.

"We invite Chinese companies to develop business under these conditions very beneficial for you," Nursultan Nazarbayev said.It is to be recalled that President of Kazakhstan Nursultan Nazarbayev is paying a state visit to China, which includes his participation in the Shanghai Cooperation Organization (SCO) Summit in Qingdao.

 

 

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