On October 31, Kazakhstan President Kassym-Jomart Tokayev chaired the 36th meeting of the Foreign Investors’ Council in Astana.
Tokayev noted that the Council has become the most important dialogue platform for discussing issues of improving the investment climate in the country.
“We have set ourselves a rather ambitious goal – to attract an additional $150 billion in foreign direct investment by 2029. To achieve this goal, the Investment Headquarters under the Government has been granted expanded powers to promptly resolve emerging issues. In May of this year, I signed a Decree that strengthened the basis for significant liberalization of the national economy. We will continue consistent systemic steps aimed at improving the working conditions for investors in the country,” the head of state said.
Tokayev emphasized that Kazakhstan has a unique mineral resource base and has attracted private investment in geological exploration in the amount of more than $1 billion over the past 6 years.
The head of state appreciated the role of international oil companies in Kazakhstan’s development.
“Foreign investors have invested capital, provided advanced technologies and highly qualified labor. Their investments have contributed to the growth of our energy sector: over the past 30 years, oil production [in Kazakhstan] has tripled. [In the future] we set a goal to exceed the threshold of 100 million tons [of oil] per year,” President Tokayev said.
“Our country is the world’s largest uranium producer. Recently, at a national referendum, our citizens supported the construction of the first nuclear power plant. Currently, we are considering the possibility of creating an international consortium to implement this project,” the President added.
According to Tokayev, in the transport and logistics sector, Kazakhstan aims to strengthen its position as a key Eurasian transit hub. The country plans to repair 11 thousand kilometers of old railways and build more than 5 thousand new ones. The priority is the development of the Trans-Caspian International Transport Route, so key attention is paid to investments aimed at developing its infrastructure by building new cargo terminals and producing transport vessels.
Tokayev also noted that digital interaction between the Government and investors is expanding. By the end of the year, Kazakhstan plans to launch the National Digital Investment Platform, which will allow monitoring the implementation of projects in real time.
Photo: akorda.kz
