Kazakh President takes part in working meeting of Foreign Investors Council

NUR-SULTAN. KAZINFORM – Kazakh Head of State Kassym-Jomart Tokayev has chaired a working meeting of the Council of Foreign Investors under the President of Kazakhstan taken place vie videoconference, Kazinform cites the press service of Akorda.

The event taken place in two sessions focused on the measures for economic recovery and investment activity of Kazakhstan under pandemic conditions as well as issues of development and improvement of investment attraction of the oil sector.

While addressing the meeting, the Kazakh Head of State said that the global pandemic has affected almost all spheres of life of the country, calling for joint efforts to deal with its consequences.

The Kazakh President expressed gratitude to the Council’s member companies for supporting their employers, social sphere and citizens in these trying times.

According to him, the State adopted a complex of unprecedented measures to support business and people, thus reducing negative consequences of the crisis and preventing the serious economic decline.

The President pointed to the need for serious changes and reforms aimed at increasing the investment attractiveness, ensuring transparency, and predictability of the government policies, putting forward a number of proposals and initiatives to that end, including creation of new investment tools.

One of the issues touched upon at the meeting was ecology, with the Kazakh Leader having informed the participants on the development of the new environmental code modeled after the advanced approaches of the OECD Member States.

The Kazakh Head of State also emphasized the opportunities in the IT sphere, which incentivized the accelerated development of digital economy. According to him, the country’s IT sphere to which Kazakhstan plans to attract at least KZT500bn in 5 years is in need for support from world tech companies.

«There are plans to attract investments from world’s major cloud-computing actors. Works are ongoing to build four data processing megacenters in Nur-Sultan, Almaty, Shymkent, and Atyrau,» he said.

The meeting also touched upon the issues of development of the domestic pharmaceutical sector as well as development and improvement of investment climate in the oil sector.