World Monitor Magazine June #3 - Page 40

Invest to kazakhstan Kazakhstan is actively developing international transport routes, and logistics potential, which provides all conditions for the export of products manufactured in Kazakhstan. It is important to note that at all levels and investors' opinions are listened to. There are platforms such as the Foreign Investors Council under the chairmanship of the Head of State, the Council on Improving the Investment Climate under the leadership of the Prime Minister, the Minister for Investment and Development is the investment ombudsman. That is, no one initiative of the investor in Kazakhstan, no one question will be left without attention. As for investors from the EU, they are also protected by Agreements on Mutual Protection and Promotion of Investments. Of the 46 such agreements, 20 are concluded with EU countries (Austria, Belgium, Bulgaria, United Kingdom, Hungary, Germany, Spain, Italy, Latvia, Lithuania, Luxembourg, Netherlands, Poland, Romania, Slovakia, Finland, France, Czech Republic, Sweden and Estonia). To date, more than 20 draft agreements are being worked out, five of which are with the EU countries (Slovenia, Croatia, Denmark, Malta, Italy). For European investors, Kazakhstan is becoming an even more attractive destination. As you noted, many things have changed in recent years, Kazakhstan became a member of the Eurasian Economic Union, 34 world monitor according to the National Bank of Kazakhstan in 2016, the gross inflow of FDI amounted to 20.6 billion USD and increased by 40% compared to 2015 joined the WTO. How will this affect European investors? Accession to the WTO and membership in the EEU opens up even greater opportunities for investors and entrepreneurs. Today, the Eurasian Economic Union represents a single market without customs borders with the capacity of more than 180 million people, with foreign trade turnover of about 1 trillion USD. It is important to note that by the end of 2016, the EU's share was about 22% - over 220 billion USD. Now we are moving to a new stage, when European companies can open production in Kazakhstan for the subsequent access to large markets of the EEU, China, and the Middle East. As you know, Kazakhstan is located in the center of the Eurasian continent at the intersection of many transport corridors. Today, a transport and logistics infrastructure is being established between Asia and Europe. Within our territory we have already formed transport corridors from the East to the West and from the North to the South. New routes through Kazakhstan – from China to Russia and Europe, through the Caspian Sea to the Caucasus and Turkey – reduce the delivery time of goods by an average in two times, compared with traditional sea routes. At present, we are reviving the New Silk Road, creating the main transport corridor Western Europe – Western China. I would like to note that there are great prospects in the development of container transportation. Only in the last five years, container shipments in direction of China- Europe-China have increased 100- fold. Kazakhstan has already become a business, trade and transit-logistic hub for the Central Asian region, a broad bridge between Europe and Asia. Each investor can find here a desired niche, state support and comfortable conditions. We perceive the cooperation with European investors as a mutually beneficial partnership, ‘win-win’. Kazakhstan will receive modern production and accelerate the process of industrialization and diversification of the economy. Investors – profitable investments, reduction of transportation costs, access to large markets of neighboring countries and competitiveness of their final product.