World Monitor Magazine #1 WM march 2018 (1) | Page 11

DESTINATION KAZAKHSTAN large and solid investors (from the Forbes list 2000) entered the non- primary sector of our country. They are: GE, Alstom, ToyotaTsusho, Danone, Vicat, Knauf, Posco, Heidelberg and many others. What is the goal for creating the Investment ombudsman and what kinds of issues are being resolved through it? There is the institution of Investment ombudsman for a rapid solution of certain issues during post-investment period. Every investor problem is jointly regarded, reviewed and studied. Recommendations to solve the issues are developed on the basis and platform of an interdepartmental working group. Creating the Investment ombudsman to consider the problems and issues facing the investment activities of the foreign investors has become a positive practice in many countries. The ombudsman for foreign investors in South Korea has been in action since 1999. The ombudsman functions for investors in the USA are undertaken by Select USA. The analogues of the investment ombudsman exist and operate in many other developed and developing countries. In 2017 somewhere around 51 new applications from local and foreign investors were regarded and reviewed in Kazakhstan. For instance, there was a company that couldn’t resolve issues in ecology, but after applying to the Investment ombudsman figured out all was satisfactory. There are many examples like this. This kind of system is built for the purpose of making the overall investment climate better. We always keep track of the current situation and try to help, therefore we suggest that foreign investors refer to the Investment ombudsman with various inquiries. What inquiries do the investors mainly apply with to the service center for investors? Is the work being accomplished successfully? As you know big investors and TNCs that we bring in Kazakhstan are not only capital and work spaces, which is an absolute priority, but also technologies, innovations, and corporate culture. So, to provide the addressed work with the targeted companies, we introduced a vertically integrated system for investors’ escort and maintenance. While planning an investment project multiple ‘how’ questions arise: How to register a company? How to obtain or gain permission? How to employ staff? How to set up communications? Our procedures for receiving state services are not always clear and transparent for investors. A ‘Single window’ (one- stop shop) for investors is supposed to eliminate gaps, explain the norms of legislation, and assist in receiving all necessary state services at one place. This system supports the investors at all stages: the external level, centers and outer regions. The introduced ‘single window’ system in Kazakhstan assumes that the investor attends one place once and applies with minor document package and portfolio via one specialist. He or she then receives the prepared set of documents with all the necessary adjustments and authorizations that give the right to start implementing an investment project. So, for the businessman who decided to contribute to the development of Kazakhstan’s economy, the ‘single window’ provides not only convenience in receiving the state services, but also accessibility and transparency in procedures, effectiveness in interacting with the state bodies. As per the results of the previous year, this format became popular: the number of investors who applied in 2017 was 1,033 persons. Mainly investors have been applying for consulting (870 consulting services provided). They have also been given 163 state services (registration of legal entities, applications to receive permits, closing and signing of investment contracts, provision of populated land plot for construction, receiving visa support, solicitation to get the investor’s visa and others). In the past year, 7,322 investors in total have applied in the Sectors for investors’ services. As a result they received 9,822 state services and 6,711 advisories. Here are some examples: two well-known Kazakhstani and Russian companies signed an investment contract when they applied to the regional sectors for investors. Can you tell more about the active projects and effectiveness of the Special Economic Zones created in the Republic of Kazakhstan? Special Economic Zones (SEZ) are the worldwide experience that has proved its efficiency. There was constructive criticism from the head of our country about the SEZ activities. It is vital to understand that the infrastructure is not fully finished, there are many things to supported by EUROBAK 9