PCA Committee Report
Margulan Ospanov,
PCA Committee Chairperson
I am pleased to welcome our readers on behalf of
the Corporate Policy Committee Executive Team. The
year was one filled with various events for EUROBAK
member companies, affecting their activities, both
locally and globally.
However, despite serious changes in economy and
global politics, Kazakhstan’s leadership continues to
take intensive steps to further improve the investment
climate and create favorable conditions for attracting
investors. The investors’ opinion is central, and
the focus is not only on attracting new long-term
investments, but also on creating favorable conditions
for reinvesting capitals of investors already present in
the country.
It is not a secret that the EU is Kazakhstan’s main trade
and investment partner, and EUROBAK, established
upon the initiative of the EU Delegation in Kazakhstan,
is a unique platform both for promoting the interests of
its members and for comprehensive work on attracting
foreign investment and improving the investment
climate. It is important to note two directions in these
initiatives, which are of great interest for companies
within the association. The first concerns changes
in the shaping the investment policy and the second
applies to the implementation of the adopted strategy
and government initiatives, bringing the dialogue with
investors to a fundamentally new level.
The shaping of the investment policy is a multilevel
process that requires efforts from a large number of
specialists representing various sectors and spheres of
activity. EUROBAK’s member companies’ opinion is of
great importance, taking into account the wealth of
practical experience in implementing the investment
projects, both in Kazakhstan and abroad. Such
experience is especially useful for developing draft
laws and various kinds of initiatives that can affect
the investors’ activities in our country.
The companies – members of EUROBAK, with the
assistance of the Corporate Policy Committee, have
made a serious contribution to the discussion of number
of draft laws over the past year, among which it is
worth noting the currency regulation, parallel import
regulation within the EAEU, the issues of attracting
foreign labor, rules for issuing visas for foreign citizens,
decriminalization of the tax code, etc.
Implementing the strategy to bring the dialogue with
investors to a new level includes several aspects,
among which the most important is the building of a
feedback system, so to speak, the creation of an ‘open
constructive dialogue platform’ between investors and
the hosting country. It is important to note here that
regular meetings of EUROBAK’s Board of Directors
with the Cabinet of Ministers chaired by Kazakhstan’s
Prime Minister confirm the importance of this direction
of our work.
In the upcoming future, EUROBAK’s Corporate Policy
Committee will pay special attention to developing
relationships with the newly established National
Company KAZAKH INVEST and further expanding
dialogue platforms in order to discuss a set of measures
aimed at attracting investments and improving
Kazakhstan’s investment climate.