World Monitor Magazine, Business and Investments WM_march 2019_web - Page 32

INVEST TO KAZAKHSTAN About plans to attract new investments “We have one challenge – find a new band of investors”. Erlan Kartayevich – could you kindly talk about the investment dynamics in Kazakhstan’s economy of Kazakhstan today? What has been done and what results did the Committee achieve in 2018? Erlan Khairov, Chairman of the Investment Committee, MFA of RK Alisher Abdykadyrov, Head of the Division for Investments and Development of entrepreneurship of Astana city Mukhamed Kabuldinov, Deputy Chairman of the City’s Center of Investment Development ASTANA INVEST 30 world monitor EK: To begin with, the inflow of foreign investment (FDI) for nine months of the last year increased by 8.4%, reaching $ 17.3 billion. Investment in fixed assets also increased by 17.2%, for 12 months of 2018, the figure was 11.1 trillion tenge. I would like to note that many investors retain interest and continue to invest in Kazakhstan. Last year Kazakhstan took 28th place in the World Bank's ‘Doing Business’ ranking, rising by eight positions. This is the result of active work to improve the competitiveness of our country on the international level. If we talk about the Committee’s results, last year we signed an Agreement on the Promotion and Mutual Protection of Investments with the United Arab Emirates and Singapore. The negotiations have been going on for quite a long time – more than 10 years. I believe that this is a significant breakthrough, in order to establish new level of relations, including the creation of conditions for attracting investment. Last year we held 23 international forums, including five of them with the participation of the Head of State, in such countries as the United States of America, People's Republic of China, Finland, Turkey, Belgium. As part of these activities, 114 investment documents were signed, amounting to more than $ 20 billion. But you need to understand that these projects are not being implemented overnight, it takes time. In addition, the investment ombudsman was active. We reviewed more than 50 appeals, and it is gratifying that more than 50% of decisions were made in favor of foreign investors. Also in 2018, they launched 27 projects with the participation of foreign investors in the amount of $ 3.1 billion. At the end of the last year, over 4,500 thousand investors turned to the ‘single window’ for investors, more than 5,000 government services were provided and about 5,000 consultations, and also concluded 32 investment contracts for receiving investment preferences in the amount of about 500 billion tenge. Recently there was a reorganization of the Ministry for Investment and Development of the Republic of Kazakhstan. The investment Committee moved to the Ministry of Foreign Affairs of the Republic of Kazakhstan. What do you think will change in the work of attracting investment? EK: You correctly noted that the investment attraction functions were transferred to the Ministry of Foreign Affairs of the Republic of Kazakhstan by the decree of the Head of State. This, first of all, indicates that the tasks have been set for the active involvement of the diplomatic corps of the Republic of Kazakhstan, as well as of all the Embassies to work on attracting investments and