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Tokayev discussed the issues of human capital development, including foreign investors and the Government


The 32nd Plenary Session of the Foreign Investors Council took place in the Palace of Independence with the participation of President of the Republic of Kazakhstan KassymZhomart Tokayev. The topic of the Plenary Session of the Foreign Investors’ Council under the President of the Republic of Kazakhstan was attended by about 300 representatives of foreign financial institutions, heads of state bodies, national and transnational companies, titled Human Capital Development.

The Council consists of 32 largest transnational foreign companies and international organizations and 5 foreign observers as well as members of the Government of Kazakhstan, Baiterek National Holding and

The meeting discussed the implementation of protocol tasks of the 31st plenary session, the issues of investment policy, energy, environment and oil and gas, labor legislation, human capital development and recommendations of foreign partners on attracting foreign labor force.

Head of the European Bank for Reconstruction and Development, Sir Suma Chakrabarti, Director of the European Bank for Reconstruction and Development, Chairman of the Board of the Association of Kazakhstani Foreign Investors Association Agris Preammanis, Chief Executive Officer of the Royal Dutch Shell plc Ben Van Beureden, President Jerzy Starak, Chief Executive Officer of Baker Hughes, a GE company Lorentz Simonelli, Chairman of the Board of Directors of Eurasian Resources Group Alexander Bakkevich, Deputy Chairman of Baker McKenzie International Constanta Ulm Aylforta, Deutsche Bank’s Central and Eastern European region, the executive director of the Department of Jorg Bongartca Philip, CEO of METRO AG,

In 2018, Kazakhstan’s foreign investment inflow amounts to $ 24.50 billion

President of Kazakhstan KassymZhomart Tokayev noted that the foreign investment flow was $ 24.50 billion last year, which is 60% more than in 2017, all thanks to the collective labor force, noting that the most important issue is human capital development. passed.

However, we are facing many challenges nowadays. First and foremost, the transformation of the labor market is one of the world’s most popular megataand. It has a significant impact on the system of education, training and social protection. Therefore, today’s meeting will focus on human capital development. In this regard, we would like to listen to experts and practitioners on this issue, the President of Kazakhstan, KassymZhomart Tokayev.

The European Bank for Reconstruction and Development has invested more than 9 billion dollars in Kazakhstan

The President of the European Bank for Reconstruction and Development, Sir Suma Chakrabarti, thanked the attendees of the 32nd Plenary Session of the Foreign Investors Council and noted that for the first time he met with President of Kazakhstan KassymZhomart Tokayev. He also added that the European Bank for Reconstruction and Development (EBRD) is ready to participate in the economic development of Kazakhstan

I wish good luck to the new president. This morning, I met with the President of Kazakhstan for the first time and discussed the strategic direction of Kazakhstan and the role of the European Bank for Reconstruction and Development (EBRD). Our bank invested over $ 9 billion in Kazakhstan’s economy. And this year, our investment in Kazakhstan has exceeded $ 450 million, said Sir Chakrabarti, Head of the European Bank for Reconstruction and Development, at the 32nd Plenary Session of the Foreign Investors Council under the President of Kazakhstan.

The Bank has been working in Kazakhstan since its founding on a foreign investor council since the country gained its independence, noting that the financial institution has not only counted on its quantitative but qualitative terms, and this year 3 contracts for renewable energy sources have been signed. The total cost of the projects reached 375 million dollars. Economic development does not go beyond human resources. In this regard, he called three directions, which Kazakhstan should give priority over the coming decade.

In the future, the economy of Kazakhstan will be able to reduce the average number of qualified professions and labor resources. Thus, the state faces many tasks. First, it is necessary to reduce opportunities for inequalities, especially those related to women. Second, it is desirable to help keep the staff clean and upgrade their skills. Because their work experience will be longer than last decades, and the third is the development of green infrastructure in urban centers. It will increase productivity and will change significantly with economic speed. I know that work in these three areas is intensely moving. It should be noted that the European Bank for Reconstruction and Development is taking part in it. We hope to continue this work with Kazakhstan, Suma Chakrabarti said.

Kazakhstan ranks 60th in terms of women and men inequality

Deputy Chairman of Baker McKenzie International Konstanza UlmerAilforta spoke about the economic potential of women in Kazakhstan’s economy. He also recalled the great philosopher Abay Kunanbayev’s grandmother and mother in the history of the Kazakh people, and reminded them of their support for the equal rights of men and women in the beginning

In the Global Gender Inequality Index published by the World Economic Forum in 2018, Kazakhstan ranks 60th out of 150 countries in terms of gender and inequality. In contributing to the development of the country’s economy, women need to be balanced with men. Increasing the share of women in the country’s economy will allow increasing the gross domestic product and diversifying the economy. At the same time, from the perspective of investors, it will be able to create knowledgeable, qualified, diverse types of people. This, in turn, affects the investment climate in Kazakhstan. Over the past 10 years, 57% of all students in Kazakhstan have been educated. But most of the statisticians are men. The majority of employees of SamrukKazyna and its 20 affiliated organizations were less in the Kazakh parliament than men and women. The SamrukKazyna National Welfare Fund and its 20 organizations, even the Parliament and the Government, have inequality in men and women. Women should be able to work from home and make their work schedule comfortable, he said.

Transformation of the labor market

Chairman of the Supervisory Board of Polpharma Group, Jerzy Strackak, told about the company’s new initiatives in Kazakhstan.

We are the first and only pharmaceutical manufacturers in Kazakhstan under the Kazakhstan digital industry 40 program. This year we have launched a new initiative in Shymkent Engineering Training Center. This center is equipped with simulators for production processes. We are equipped with threedimensional printers to quickly deal with the supply of spare parts, and we extend our training to our staff and students to continually improve their qualifications. We fully support the task of President Nursultan Nazarbayev to create youth who will be able to work in the labor market by 2019, said Jerzy Starak, Chairman of the Supervisory Board of Polpharma Group.

Afterwards, heads and leaders of a number of transnational companies, ministers of the country, Supreme Court chairman shared their achievements in the field and presented their proposals.

KassymJomart Tokayev focused on the issues of human capital development in Kazakhstan and pointed to the fact that at present the quality of specialist training systems is at the new level, reducing the gap between labor market quality and labor market demand.

It is necessary to modernize the system of vocational education for the implementation of these tasks, to strengthen the connection of higher education with enterprises and business. And the Foreign Investors Council can contribute to the establishment of academic contacts with foreign higher education institutions, improving the system of higher education. It is important for each company to have a fair share of employee benefits depending on the size of the entity as it is a human being. This is the key to social responsibility, and to both domestic and foreign companies. The fair distribution of national income is the main task of each state, said the President of Kazakhstan, KassymZhomart Tokayev.

According to the President, the Government is elaborating a new State Program on Education and Science Development, which should be widely discussed with the public, employers and investors.

At the suggestion of the President, the next plenary session will focus on nonprimary export development.

Source: Kazakhtan 2050