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Nazarbayev invites Saudi businessmen to join Kazakhstan’s industrialization program

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by October 25, 2016 Study

The Head of State noted that both Kazakhstan and Saudi Arabia are rich in natural resources. Despite this, Kazakhstan is conducting economic reforms.
“Our strategic objective is to join 30 most developed countries of the world. The main tool of achievement of this goal is entrepreneurship development. We are creating favorable conditions for business development and investment attraction,” N.Nazarbayev said.
The Head of State informed Saudi businessmen of the measures launched by Kazakhstan to improve the situation in business and investment environment.
“Kazakhstan occupies the 41st in the World Bank’s Doing Business ranking. We remove administrative barriers in order to develop business. 10 special economic zones applying liberal tax regime have been opened across Kazakhstan,” the Kazakh President said.
N.Nazarbayev invited Saudi businessmen to join the implementation of Kazakhstan’s Industrial-Innovative Development Programme.
“Kazakhstan is ready to render all-round assistance in this issue. For instance, foreign investors are exempted from paying corporate income tax and land tax for a 10-year period and from property tax payment for 8 years,” N.Nazarbayev concluded.

Source: Kazakhtan 2050


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