New national strategy to help Kazakhstan attract investment due in late June

ASTANA. KAZINFORM - Minister for Investment and Development Zhenis Kassymbek claims that the national strategy that will help Kazakhstan attract investment will be developed by late June, Kazinform reports. 

In his words, after Head of State Nursultan Nazarbayev instructed to drastically reform the national system of attracting investment, the Ministry for Investment and Development faced a number of specific challenges with the National Strategy for attraction of investment being one of them. "To this end, we've enlisted the help of World Bank experts," Minister Kassymbek said at a reporting meeting on Monday.

He also noted that recently established JSC "NC "KazakhInvest" will act as a sole negotiator with transnational companies and big investors on behalf of the Government of Kazakhstan.

Minister Kassymbek also talked about improving investment climate in Kazakhstan in line with the OECD standards.

"This year OECD experts completed the second overview of Kazakhstan's investment policy. The detailed plan on investment climate improvement will be amended based on their recommendations. It will enable Kazakhstan to gradually introduce advanced OECD standards, attract large investors and transnational companies and positively affect its position in international rankings and investment opportunities," Mr Kassymbek added.