German investors highly appreciate Kazakhstan’s investment climate

17 May, 2018, 10:31 409
German investors highly appreciate Kazakhstan’s investment climate

Economists from Germany noted an importance of economic reforms implementing in Kazakhstan.

Today May 17, 2018, on the threshold of Astana Economic Forum, the 23rd session of the Berlin Eurasian Club on the theme Kazakh privatization program – chances for German medium-sized business?” was held, correspondent reported.

The Embassy of the Republic of Kazakhstan in Germany and the Kazakh Invest National Company are the organizers of the event.

Key issues of the bilateral economic cooperation were discussed by the participants. Besides, it was noted Germany is a strategic partner of Kazakhstan in the European Union.

“The entire complex of capacities which investors, including the German ones, can realize is being demonstrated currently. This is a new investment strategy, amendments to subsoil legislation, Astana International Financial Center (AIFC) establishment at a base of the English law and the other. I suppose such forums contribute rapprochement of entrepreneurs of different sectors. During this forum representatives of the Ministry on Investments and Development, AIFC, Kazakh Invest NC demonstrated all mentioned innovations and current capacities,” AIFC Governor Kairat Kelimbetov emphasized.

During the forum, representative of the German side declared the necessity to activate investment cooperation including within the technological development.

“We appreciate Kazakhstan’s investment climate. A lot of international ratings outlined this fact. It is very important Kazakhstan is oriented for best world practices. The German business focuses it in detail. We had the initial experience when large German companies appeared in Kazakhstan. In my opinion, it is important to attract medium-sized German business, they have a leading position in numerous branches, and that will be particularly interesting from the point of the Kazakh-German technological cooperation strengthening. Here Kazakh Invest NC is at the front of informing and assisting on concrete investment projects,” Managing Director of the German Committee on Eastern European Economic Relations Michael Harms stressed.

In turn, Chairman of the Investment Committee of the Ministry of Investment and Development of the Republic of Kazakhstan Yerlan Khairov noted about 90 percent of German investments were directed to the process industry.

"That very sector where ,on the instructions of the Head of State,  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 create the necessary platform and provide corresponding preferences,"  Khairov said.

During the forum, Deputy Chairman of Kazakh Invest, Marat Birimzhan, spoke in more detail about the investment opportunities in Kazakhstan and urged 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 its production in order to export to neighboring countries. "Kazakh Invest" provides investors with point information on prospective investment projects, as well as on the implementation of the privatization program, " he noted.

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

We will add that the Berlin Eurasian Club (BEC) is the first project of this kind in Kazakhstan in Europe aimed at strengthening the 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 Eastern Committee of the German Economy - the leading economic organization of the country, dealing with the current international problems in the global economy.