Kazakh economic openness good for the country

Its success can be seen in the fact that Kazakhstan has attracted over 70 percent of direct foreign investment into Central Asia
Kazakh economic openness good for the country
12 July 09:44 2018 Print This Article

 

The Astana International Finance Centre  is a strong symbol of this commitment. The official launch of the AIFC last week and the emphasis placed during the event on spreading prosperity throughout the region was a vote of confidence in an open global economy.

The creation of Kazakh Invest, too, underlines the country’s continued welcoming approach to the widest possible partnerships.

Around 50 priority projects, amounting to some $20 billion, have been shared in recent months by Kazakh Invest’s network of offices in financial hubs across the world. Chairman Saparbek Tuyakbayev revealed earlier this summer that such is their attractiveness that five to 10 international companies have expressed an interest in each of these projects.

It is a one-stop shop approach, with a strong regional input, which is key to delivering on the ambitious targets set in the country’s National Investment Strategy to increase FDI by another 26 percent by 2022.

It is worth repeating that Kazakhstan was judged in the World Bank’s 2018 Doing Business report as having the best protection for minority investors of any country in the world.

It is a remarkable achievement for a country, which was part of the Soviet Union just a generation ago.

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