ASTANA – Kazakhstan will launch the National Digital Investment Platform to attract investors and monitor the implementation of investment projects, reported the Kazakh Ministry of Foreign Affairs.
The ministry’s Investment Committee, the Eurasian Development Bank, and National Information Technologies company signed a memorandum of cooperation launching this platform on May 16 at the annual 46th meeting of the Association of Development Financing Institutions in Asia and the Pacific in Almaty.
According to the Boston Consulting Group, the Central Asian region can attract up to $170 billion of foreign direct investment over the next decade, with Kazakhstan making up $100 billion. The country is a regional investment magnet, and given the geopolitical issues and global economic turmoil, introducing a single local investment platform will be of paramount significance.
According to Ardak Zebeshev, chairman of the investment committee, the platform will be a roadmap for onboarding investor businesses, with a “single window” concept adopted to integrate consulting and information services for projects and investors.
“Information panels (dashboards) will be an excellent instrument for monitoring investment activity in the country and will increase the quality of investor interaction. This digitalization will significantly shorten the time required to complete investment projects,” said Zebeshev.
The platform will be equipped with a shared database containing information on the features and status of investment projects, allowing for faster data sharing, simpler data and document storage, and improved investment project quality. Topical issues that investors raise throughout project implementation will be addressed at the Investment Headquarters meetings chaired by the Kazakh Prime Minister.