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President Nazarbayev informed Japanese investors on economic opportunities of Kazakhstan

27 October 2015 17:35
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President Nazarbayev informed Japanese investors on economic opportunities of Kazakhstan

ASTANA. KAZINFORM - President of Kazakhstan Nursultan Nazarbayev has informed Japanese investors on the economic potential of Kazakhstan.

"Kazakhstan has set an ambitious goal - enter the top 30 developed countries in the world. According to our program "Kazakhstan-2050", a major factor in achieving this goal will be successful business activity and industrialization. To do this we have created favorable investment climate," said the Head of State at the Kazakh-Japanese business forum.

The President said that in 2015 in the Global Competitiveness Index of the World Economic Forum Kazakhstan ranked 42 among 148 countries. In terms of investor protection the republic engaged 22nd place.

President stressed that in order to reach a new level of investment attractiveness and enhance the quality of life of Kazakhstani citizens, the country adopted a Plan of the Nation "100 specific steps". Reforms will affect the whole spectrum of economic regulation, and will be based on the standards of the OECD countries.

Head of State also told Japanese business people that in 2015 Kazakhstan started implementing the second five-year plan as part of the industrial-innovative development program of the country. The President said that during the first five years the program introduced 770 new businesses, created 75 thousand permanent jobs.

He added that six priority sectors including metallurgy, chemistry, petrochemistry, machinery, mechanic engineering, and food industry, have been identified for the second five-year plan. Investors in priority sectors are exempt from corporate, income and land taxes for a period of 10 years, property tax - for 8 years. Up to 30% of all capital expenditures are to be reimbursed after a project's completion. Investors have an opportunity to attract foreign labor without any quotas and permits. In addition, Kazakhstan introduced visa-free regime for investors from 20 countries including Japan," informed the President of the Republic of Kazakhstan.

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