World Monitor Magazine, Business and Investments WM_march 2019_web - Page 36

INVEST TO KAZAKHSTAN Currently, two significant major investment projects are being implemented in the capital: ‘Construction of the Abu-Dhabi Plaza IFC’ and Creating a new ‘LRT’ transport system. We are also working with potential foreign investors on the implementation of several projects important for the city, for example, with Calatrava Grace Corporation (UAE) to build a multifunctional covered boulevard ($ 1 billion) by Sabis (UAE) to create an international school ($ 30 million) and the construction of the World Trade Centre in Astana with the Association of International Trade Centres (WTCA). The international prestige of WTCA as a global brand is valuable for facilitating the development of international trade and investment. With their assistance, the WTC opened in major cities around the world, such as Amsterdam, Tokyo, Seoul and Dubai. Taking into account the synergy with the activities of the AIFC, the WTC is supposed to be located near the territory of the financial centre. As you know, attracting investments largely depends on the conditions of doing business. Unfortunately, the bureaucracy cannot be eradicated so quickly. To reduce the burden on business, different countries have adopted special programs. For example, the United Kingdom, Canada, and Serbia reduced administrative costs to 25%, Japan canceled 14,500 and simplified 10,000 regulatory legal acts, reducing costs by $ 8 billion. In support of entrepreneurs and investors, we are now working hard to improve the business climate of the city by reducing the administrative burden on business, simplifying various licensing procedures. This is improved access to land, infrastructure, and more. The prospects for the city are colossal. Without the participation of entrepreneurs and investors, Astana 34 world monitor will not be able to become a modern, full-fledged and global city. The mayor’s office of the city is open for cooperation, is pleased with constructive proposals and new projects, intends to facilitate the implementation of investment projects and is ready to create the best conditions for this. Supporting investors at any stage. Project implementation. Muhamed Zhusupovich, please tell us about Astana Invest? Are there any results in attracting investors to the capital? What projects with foreign participation can you give as an example? And what is their role in the development of the city? MK: To begin with, Astana Invest, the city centre for investment development, was established in April 2017 under the Mayor’s office of Astana. Our main goal is to attract investment in the capital and the work is carried out in two directions. First, according to the experience of foreign countries, we provide service support, helping investors at every stage of the development of their business, we advise investors on the types of public services, and also monitor existing enterprises. The second direction is the development of public-private partnerships, the company provides advisory support for concession and PPP projects. Over the two years of the company’s activities, a significant amount has been achieved; we have formed in- vestment proposals for investors in priority sectors, modernized the invest- ment website, improved approaches and channels of communication with investors for prompt resolution of current issues. In 2018, together with the Akimat (Mayor’s office) of Astana, they helped launch ten investment projects worth over 22.9 billion tenge with the participation of foreign and domestic investors. At the stage of implementation there are five more projects, thanks to which new productions will be opened in the city, in particular, paints and varnishes, equipment for sewage treatment, a meat processing complex, food products. The amount of investment for these projects will be approximately 50 billion tenge. I would like to mention the project, thanks to which a meat cluster will be created in Astana. This is a project for the construction of a high- tech meat-processing complex of a full cycle worth more than 3 trillion tenge. Production of 24,000 tons of meat products per year is planned. In order to implement the project, in November 2018, the first investment contract