Kazakhstan Committed to Opening Economy and Modernizing Society

From our earliest days as an unbiased U.S., Kazakhstan has continuously pursued a twin music coverage: actively searching for global investment and information to help drive economic development while constructing political stability, countrywide solidarity, and human capital for social progress. Over the last 25 years, a planned desire has helped transform our country and its prospects for the better.


Good family members have been installed with international locations worldwide, leading to elevated alternatives. Our welcome to foreign places businesses have visible, lengthy, and hit partnerships solid to the advantage of them and our United States. Similarly, we had set up a strong tune record of political balance, ethnic and non secular harmony, and sustained improvement in human improvement signs. The twin policy tracks have been complementary and collectively reinforcing.

The result is that Kazakhstan has been the favorite destination for distant places investment in our area. More than $210 billion in foreign direct investment has flowed into our U.S. The strong boom that this has helped drive has provided the sales to dramatically enhance our citizens’ living requirements and quality of existence. Kazakhstan’s residents and global buyers alike have come to expect safety in everyday lifestyles and respect for diversity as several truths.

However, there’s no question that the usa can’t stand nevertheless or slip backward because we’re devoted to constructing the progress we have already made, enhancing and diversifying our economic system, and modernizing our society. Achieving our ambition of becoming a member of the ranks of the top 30 evolved international locations via 2050 calls for us to keep removing any obstacles that stand in the way of sustainable development.

This is why, when economic shocks from past our borders and managers ought to have caused us to slow the pace of reform, we have answered by accelerating the modernization of our financial system and society. We had been enforcing extensive-ranging reforms to improve our institutions’ overall performance, opening up national industries via a complete privatization program, and taking decisive steps to enhance the funding climate.

Equally important, one of the planks of the institutional reforms we released in the remaining years to create an open authority is More responsibility to our citizens. First, we must talk in the clearest, most concise way to explain the government’s intent, policy designs, implementation tactics, and timelines behind reform packages. The recent public outcry over proposed land use reforms is a case in point – we’re learning to concentrate. As a result, we have set up a land reform commission to participate in a cross-section of citizens. Shifting to this Extra participatory approach may not be all smooth cruising. They probably could be the United States of America and downs; however, the truth is that we’re gaining knowledge of.

Amongst institutional reforms already underway are measures to improve our civil service’s professionalism and the rule of regulation. This involves elevated prison safety for traders and creating the Astana International Economic Centre to meet the best international requirements and practices.

Those reforms had been coupled with the Nurly Zhol program specializing in enhancing infrastructure, including delivery links. We’ve decided to maximize Kazakhstan’s position as a regional financial hub and hyperlink between east and west, north and south. New routes linking China to Europe and Principal Asia to the Persian Gulf will bring huge-ranging benefits.

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The decision to sell stakes in important national organizations and KazMunayGas, the countrywide oil business enterprise, has already been welcomed via the IMF as a chief step toward the right course. Privatization will not only carry new resources for the authorities to put money into infrastructure and human improvement but also for the agencies themselves to amplify and, for that reason, create new jobs. However, it will also convey clean ideas to enhance corporate governance and control, productivity, and profitability.

We also are having difficulty creating the best feasible environment for funding. A new package deal of beneficiant incentives has been introduced, including exemption from custom responsibilities for devices and uncooked substances and land and corporate tax. Offers of as much as 30 percent, which cut capital charges for homes and plant life, are actually to be had. Further to the Foreign Buyer’s Council below the president of Kazakhstan, which discusses priority problems for traders and the authorities, an investment Ombudsman has also been created to resolve disputes between overseas traders and authorities businesses. The benefits of the improved commercial enterprise surroundings will increase to all companies, whether home or overseas, as a level gambling area for all actors is created; for instance, an obvious judiciary and stepped forward the rule of law will assist anyone’s self-belief in the system.

New one-prevent stores were mounted in every place of the u. S. To assist in reducing the bureaucratic burden, including in the foreign enterprise community. Companies and traders will soon be able to get help in their nations. Senior officials from our Ministry for Funding and Improvement are assigned to work in our embassies in 10 priority countries to provide expert advice to potential companions with funding merchandising centers to be mounted in five global cities.

We’ve also made it less complicated for Corporations to rent a certified expatriate team of workers even as brief-term visas for visitors from Kazakhstan’s major partners were abolished in a unilateral flow that underlines our dedication to cut purple tape and entice investment, nationals of 20 nations, which include Germany, the U.S., and the U.Ok. And Singapore no longer wants any visa to visit us for up to 15 days.