Deputy Minister of Foreign Affairs of Kazakhstan Meets with Moody’s Experts, DKnews.kz reports.
Representatives of the international credit rating agency “Moody’s” arrived in Kazakhstan to assess the country's investment climate. During their visit, a meeting was held between the agency's analysts and Kazakhstan's Deputy Minister of Foreign Affairs, Alibek Kuantyrov, Chairman of the Investment Committee of the Ministry of Foreign Affairs, Gabidulla Ospankulov, and Deputy Chairman of the Board of JSC "NC Kazakh Invest," Madiyar Sultanbek. The parties discussed medium-term investment forecasts, investment evaluation criteria, and Kazakhstan's international strategic partnerships.
A. Kuantyrov informed the agency's representatives about plans to improve the investment climate: "Kazakhstan's accession to the OECD could serve as an impetus, signifying the alignment of the country's socio-economic policies with the organization's high standards. Kazakhstan is already implementing a series of economic reforms and modernization projects, including industrialization and digitalization programs. Additionally, Kazakhstan plays a vital role in Central Asia, and its strategic position between Europe and Asia makes it attractive to investors. Since 2017, we have been an ‘associate member’ of the OECD Investment Committee.”
In turn, G. Ospankulov informed the representatives about existing measures of state support for investors, the activities of the National Digital Investment Platform, and highlighted prospective sectors:
"In the short term, the main focus should be on the oil and gas and mining sectors, while in the medium term, attention should be directed towards green energy, innovation, and manufacturing industries" Gabidulla Ospankulov
Following international experience and considering current economic forecasts, Kazakhstan has all the opportunities for successful development of key sectors of its economy.
Earlier, in October 2023, the agency upgraded Kazakhstan’s outlook from "stable" to "positive," confirming the sovereign credit rating at the "Baa2" level.
Moody's is among the top three international credit rating agencies and is engaged in assigning credit ratings, risk analysis, and other analytical research, monitoring the debt obligations of more than 110 sovereign states.
A sovereign credit rating is an assessment of a country’s creditworthiness, which enhances trust in Kazakhstan's investment risk evaluation, strengthens the country's position on the global economic stage, and reduces borrowing costs from international financial institutions.
A high sovereign credit rating also requires investment criteria to align with ESG standards, or socially responsible investing. This investment principle prioritizes projects that not only provide financial returns but also contribute to sustainable development in the long term, considering environmental, social, and corporate governance factors.
