Kazakhstan Experiences Surge in FDI Inflows

ASTANA – Kazakhstan’s gross inflow of foreign direct investment (FDI) grew by 17.8 percent to $22.1 billion over nine months of last year, said Kazakh Prime Minister Alikhan Smailov during the Investment Climate Improvement Council on Feb. 18, reported the Prime Minister’s press service. 

Prime Minister Alikhan Smailov during the Investment Climate Improvement Council on Feb. 18. Photo credit: primeminister.kz.

Smailov commended the country’s growth rates and investment attractiveness despite external challenges. According to him, the Kazakh government continues improving conditions for foreign investors, providing ongoing support to business projects, including fiscal and non-fiscal incentives and preferences.

Speaking about new measures of business support, Smailov referred to the introduction of an agreement on investment obligation, the improved model-based contract, and simplifying the investment agreement-making process, as measures that contribute to the growth in FDI. 

A predictable and transparent tax policy is another crucial aspect of improving the country’s investment attractiveness, Smailov said. A new Tax Code is being drafted for digital tax administration, transition to differentiated rates, incentives for technological modernization, and simplification of special tax regimes.

The PM emphasized the government’s readiness to discuss recommendations and new projects to enhance cooperation.

“We highly appreciate the active participation of foreign partners and the diplomatic corps in improving the investment climate in Kazakhstan. For our part, we are ready to provide the necessary support to promising projects,” he added.

Representatives of major foreign companies, the diplomatic corps, central government agencies, and the Atameken National Chamber of Entrepreneurs attended the meeting.

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