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Kazakhstan is an “overlooked powerhouse” and one of the world’s next big investment destinations was the message delivered to over 200 business leaders who attended the Kazakhstan Global Investment Forum in London yesterday.
Several billion pounds of inward investment is expected to enter Kazakhstan over the next five years, as global organizations seek to benefit from a streamlining of government services, additional opportunities linked to the New Silk Road and increased investment support.
Kazakh Invest, the national organization for attracting global FDI, lead the charge for greater inward investment by highlighting the levels of support that Kazakh Invest offers potential investors across many sectors.
Kazakh Invest Chairman Saparbek Tuyakbayev told investors how Kazakh Invest acts as a “one-stop-shop” for investment support and said that it was actively working with dozens of global organizations already looking to invest in Kazakhstan.
Tuyakbayev told forum participants that Kazakh Invest had identified and prepared 70 specialist projects across agriculture, chemicals, mining and metallurgy,
Kazakh Invest has identified and prepared 70 specialist projects across agriculture, chemicals, mining and metallurgy
engineering, retail, tourism, and energy, offering opportunities for international investors.
Askar Zhumagaliyev, Deputy Prime Minister of Kazakhstan, said the country is “emerging as a regional hub for business, investment and transit.”
The UK Government’s Trade Envoy Baroness Emma Nicholson spoke of a growing number of areas for meaningful cooperation between British investors and Kazakh companies. She suggested that Kazakh businesses could learn much from UK companies about increasing their organizations’ ‘added value’ by moving towards a more knowledge-based economy.
Potential investors also heard from leaders of British businesses already operating in Kazakhstan. Nick Clarke, Chairman of extractive’s firm CAML praised the business-friendly environment and the highly-skilled, multilingual workforce.
The forum was the first of several senior level roadshows being co-hosted by Kazakh Invest internationally. The next event is scheduled in New York tomorrow.
(Presswire)
Comments
Expat
Interesting read. After spending several years living and working in Kazakhstan as an Expat for a “preferred” project, unless the government has undergone some significant change, doing business is Kazakhstan will continue to be a challenge. The bureaucracy associated with government approvals and the rules for procurement of goods and services add significant time and money to any investment.