Almaty Unveils Plans for Foreign Investment

The first Almaty Investment Forum showcased the financial hub of Kazakhstan as a favorable destination for foreign investment.

Kazakhstan Prime Minister Serik Akhmetov assured the foreign investors to create more favorable conditions for doing business in the country and hinted at giving several incentives including exemption from customs duties on the import of equipment, grants in the form of land and several tax rebates.

According to 2013-2014 investor protection index published by the World Economic Forum, Kazakhstan is stated to share the 10th place with the UK and is ahead of other European countries.

“In ‘Kazakhstan 2050’ Strategy President Nursultan Nazarbayev wants the nation to be among the top 30 developed countries in the world, and to achieve this goal it is necessary to further improve the investment policy,” Akhmetov said.

He said that the per capital foreign investment in country was $6500, the highest figure in the post soviet countries. More than 8,000 companies have invested more than 170 billion dollars in Kazakhstan since it opened its doors to foreign investment in 2005.

The host of Dec 3-4 Almaty Investment Forum, Mayor Akhmetzhan Yesimov reeled out statistics citing Almaty to be most favorable investment destination in the country.

He said that 1/5 of country’s GDP comes from Almaty and 1/4 of total tax collection of country are generated in the city that is home to 1.5 million people.

Yesimov said that Gross regional product per capita adds up to $25,000, more than that of countries such as the Czech Republic, Poland and Bulgaria.

In the picture above: Almaty Mayor Akhmetzhan Yesimov and Kazakhstan Prime Minister Serik Akhmetov and Nobel Laureate Muhammad Yunus at the first Almaty Investment Forum in Almaty, Kazakhstan Dec 3, 2013.

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Rakesh Raman