IN THE 27TH PLENARY SESSION OF THE FOREIGN INVESTORS COUNCIL UNDER THE
PRESIDENT OF KAZAKHSTAN
Astana, June 12: The session was devoted to the issues of the foreign investors’
participation in the implementation of the second five year stage of
industrialization in the Republic of Kazakhstan and started with hoisting a
flag of the Bureau of International Exhibitions that has been given to the
The Head of State noted that regular meetings with investors turned into
a good tradition and the Council itself became an effective platform for open
dialogue on the most important topics.
Nursultan Nazarbayev stressed that due to the unique conditions for
investors Kazakhstan can set itself up as a gateway to the market of the
Eurasian Economic Union.
President of Kazakhstan noted that during the first five year stage of
industrialization despite the global economic crisis the country was able to
create new jobs and attract investors into manufacturing branches of the
The President invited foreign partners to create corporate research and
design centers and locate them on the territory of "Astana Business
Campus" Science Park of Nazarbayev University.
The Head of State has urged to move to a system of Eurocodes in the
construction industry next year.
Nursultan Nazarbayev introduced large scale measures, developed by the
Government in order to increase investment attractiveness of priority sectors.
In particular, investors will be exempt from corporate income tax for 10
years and tax on non-land assets for 8 years and be reimbursed 30% of the costs
of building new plants.
Besides that, Kazakhstan will be working with foreign investors on the
basis of the single-window principle. In addition, the country is set to
establish the investment ombudsman institution.
During the session, President of Kazakhstan signed the law on improving
the investment climate.
The head of the European Bank for Reconstruction and Development Sir
Suma Chakrabarti, Deputy Prime Minister - Minister of Industry and New
Technologies of Kazakhstan Asset Issekeshev delivered speech at the session.
Also heads of Total, Deutsche Bank Frankfurt, Eni, General Electric Oil
and Gas, Telia Sonera, Sberbank Russia, Ernst&Young, Anadolu Group and
others shared their opinion on the main topic.
At the end of the session the ceremony of the project on production of
Toyota cars, that was broadcast via "Borovoye-Kostanay"
teleconference took place.
The Head of State suggested to discuss the issues of agricultural
business development at the next session and hold it in Shymkent.