Nazarbayev invites Finnish companies to develop business in Kazakhstan

HELSINKI. KAZINFORM Head of State Nursultan Nazarbayev has met today with captains of Finnish business in Helsinki, Kazinform correspondent reports.

“Finland is one of the most important trade and economic partners of Kazakhstan in Northern Europe. The relations between our countries are based on friendship and mutual trust,” said Nazarbayev in welcoming speech.

Since 1991, Finland has invested over $300 million in Kazakhstan’s economy and Kazakhstan invested around $500,000 in Finland. Commodity turnover between the countries reached $300 million in 2017. As many as 100 Kazakh-Finnish enterprises are functioning in Kazakhstan’s energy, transport, telecommunications, processing industry, agriculture and other sectors.

Nazarbayev explained that the goal of the meeting is to boost economic relations and search for new business partners.

“Kazakhstan is a member-country of the Eurasian Economic Union. We set an ambitious goal to join 30 most developed countries of the world.  Today Kazakhstan opens new opportunities and a huge potential for doing profitable business,” emphasized the Kazakh leader, adding that the country’s government always takes measures to improve its business climate.  
 

Kazakhstan is ranked the 36^th out of 190 countries in the World Bank’s Doing Business rating (Finland stands the 13th). Kazakhstan is an associated member of the OECD Investment Committee. It has joined the OECD Declaration on International Investment. Kazakh Invest and Kazakh Export national companies have been established to ensure effective interaction with investors and business.

Those investors implementing projects in priority sectors of Kazakhstan economy (metallurgy, oil processing, engineering, chemistry, food production) are exempted from corporate, land and property taxes. Foreign labour force is attracted without quotas and licenses for such projects. The procedure of getting licenses and conclusion of subsoil use contracts is facilitated. 11 special economic areas and 22 industrial zones are functioning today.

“The participants of the special economic areas enjoy tax exemptions and preferences. We invite Finnish companies to develop business in Kazakhstan,” said Nazarbayev.
 

The Head of State arrived in Finland for an official visit.