EUROBAK Event for Best Practices in Attracting Investments was Held in Astana, DKnews.kz reports
Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Alibek Kuantyrov spoke at a round table about the best international practices in attracting foreign direct investment. The event, organized by the European Business Association of Kazakhstan (EUROBAK) with the support of JSC “NC “Kazakh Invest” and the United States Agency for International Development, attracted several international investors, representatives of the diplomatic corps, and international financial institutions.
Speaking with a welcoming speech, Kuantyrov informed the participants about the investment climate of the Republic of Kazakhstan, state support measures and the latest innovations aimed at improving investment conditions in the country.
“We are constantly updating regulations that stimulate the effectiveness of investments by simplifying the regulatory framework, increasing transparency, and protecting investors’ rights. To attract large-scale investments in priority industries worth 60 million US dollars or more, a special investment instrument is in place – an Investment Agreement that guarantees the stability of the agreed conditions along with a wide range of individual preferences for 25 years,” the Deputy Minister said.
During his speech, Kuantyrov also stressed the fruitful development of investment cooperation between Kazakhstan and the EU.
“As you know, in 2023, Kazakhstan and the European Union celebrated the 30th anniversary of bilateral relations. Over these thirty years, our bilateral relations have made significant progress. Thus, the European Union is Kazakhstan’s largest trade and investment partner, accounting for more than half of the total volume of FDI inflows to our country. Similarly, Kazakhstan is the EU’s largest trading partner in Central Asia,” the Deputy Minister said.
Julie Kussidi, CEO of EUROBAK, moderated the round table. During the event, the participants also heard speeches by Aleska Simkic, the Ambassador of the European Delegation to Kazakhstan, and Deborah Robinson, the Deputy Chief of Mission at the US Embassy in Kazakhstan, as well as representatives of investment promotion agencies of Uzbekistan and Kyrgyzstan. David O'Donovan, specialist in strategies for the attraction and retention of FDI, and Wojciech Tyborowski, director at Invest in Pomerania, made detailed presentations on investment attraction and retention strategies.
The round table has become an important platform for networking, productive exchange of experience, and discussion of promising projects. At the end of the event, the participants were able to ask questions in an open discussion.
The European Business Association of Kazakhstan (EUROBAK) is a non-profit organization established in 1999 following the initiative of the EU Delegation to Kazakhstan. As part of the ongoing cooperation with the Government of the Republic of Kazakhstan to improve the investment climate, EUROBAK is actively involved in developing proposals to strengthen legislative standards in various sectors of the economy and business interaction with government agencies. Thus, the last round table aimed to develop proposals according to the new Concept of the Republic of Kazakhstan Investment Policy until 2029.
