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, it was a planned desire that has helped transform our country and its prospects for the better.


Good family members have been installed with international locations all around the international, leading to elevated alternate. Our welcome to foreign places businesses has 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 nonsecular harmony, and sustained improvement in human improvement signs. Needless to say, the twin policy tracks have not only been complementary but 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 us over the last two a long time. The strong boom that this has helped drive has provided the sales to dramatically enhance the living requirements and quality of existence of our citizens. And Kazakhstan’s residents and global buyers alike have come to expect safety in everyday lifestyles and respect for diversity as a count number of truth.

However, there’s no question that the usa can’t stand nevertheless or slip backward due to the fact we’re devoted to constructing the progress we have already done and enhance and diversify our economic system and modernize 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 which stand inside the way of sustainable development.

This is why, at a time when economic shocks from past our borders and managers ought to have caused us to slow the pace of reform, we have answered via accelerating the modernization of our financial system and society. We had been enforcing extensive-ranging reforms to improve our institutions’ overall performance, opening up nation 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 remaining years to create an open authority is More responsible to our citizens. In the first instance, we must talk within the clearest, maximum 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’re 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 further improve the rule of regulation. This consists of elevated prison safety for traders and the creation of the Astana international Economic Centre to function to the very best international requirements and practices.

Those reforms had been coupled with the Nurly Zhol program specializing in enhancing infrastructure, including delivery links. We’re 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 inside the right course. Privatization will not only carry new resources for the authorities to similarly put money into infrastructure and human improvement and for the agencies themselves to amplify and, for that reason, create new jobs. However, but it will also even convey an injection of clean ideas to enhance corporate governance and control, productivity, and profitability.

We also are running difficult to create the best feasible environment for funding. A brand new package deal of beneficiant incentives has been introduced, including exemption from custom responsibilities for device 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 both 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 businesses 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 reduce the bureaucratic burden, including at the foreign enterprise community. Companies and traders will also soon be able to get help in their personal 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., the U.Ok. And Singapore no longer wants any visa to visit us for up to 15 days.