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German Committee on Eastern European Economic Relations positively assesses investment climate in Kazakhstan

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Participants of the event discussed topical issues of bilateral economic cooperation, noting that Germany is a strategic partner of Kazakhstan in the European Union.

“Today we are demonstrating the whole pool of opportunities that investors, including German investors, can use. This is a new investment strategy, changes in the legislation on subsoil, the creation of the AIFC on the basis of English law, etc. I think such forums are very helpful in bringing together the positions of entrepreneurs from different sectors. At this forum, representatives of the Ministry for Investments and Development, AIFC, Kazakh Invest showed all these innovations in the legislation and existing opportunities,” the Governor of the Astana International Financial Center, Kairat Kelimbetov, emphasized.

During the event, representatives of the German side noted the need to intensify investment cooperation, including in technological development.

“We assess the investment climate in Kazakhstan as very positive. And this is noted in all international rankings. It is very important that Kazakhstan is guided by the best international practices. And the German business notes it completely and carefully. Our first experience was when large German companies came to Kazakhstan. Now, I think, it is very important to attract the average German business. They are leaders in many industries, so it will be particularly interesting in terms of the efforts of our technological cooperation. And here Kazakh Invest plays a very large role, providing information and support for specific investment projects,” said Michael Harms, Managing Director, German Committee on Eastern European Economic Relations.

In his turn, Chairman of the Investment Committee of the Ministry for Investments and Development of Kazakhstan, Yerlan Khairov, noted that about 90 percent of investments that came from Germany were directed primarily to the manufacturing sector.

“It is exactly the sector in which, according to the instructions of the Head of State, it is necessary to strategically attract investors. And we see that German business has responded to this call, the interest of German companies to participate in the state program of industrialization. For this, we are creating the necessary platform and providing the appropriate preferences,” Y. Khairov said.

During the forum, Deputy Chairman of Kazakh Invest, Marat Birimzhan, described in more detail what investment opportunities exist in Kazakhstan and called on German companies to participate in the Privatization Program:

“Kazakhstan is not only a transit country, but also a country where it is possible to place the production in order to export to neighboring countries. Kazakh Invest provides investors with information on prospective investment projects, as well as on the implementation of the privatization program,” he said.

Following the results of the event, the German side highly assessed the scales of economic reforms in Kazakhstan and expressed interest in further cooperation.

For reference: The Berlin Eurasian Club (BEC) is the first project of this kind for Kazakhstan in Europe aimed at strengthening expert dialogue between European and Asian cultures. The functions of the BEC secretariat are jointly implemented by the Embassy of the Republic of Kazakhstan in the Federal Republic of Germany and the German Committee on Eastern European Economic Relations � the leading economic organization of the country, dealing with the current international problems in the global economy.

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Source: The Prime Minister of Kazakhstan

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