Welcoming the participants of the event, President Kassym-Jomart Tokayev noted that the Council has become a crucial platform for dialogue on improving the investment climate. Referring to data from the International Institute for Management Development (IMD), he emphasized that our country has entered the top 35 most competitive countries in the world.
– We have set ourselves a rather ambitious goal – to attract an additional 150 billion dollars in foreign direct investment by 2029. To achieve this, the Investment Headquarters under the government has been granted expanded powers to promptly resolve emerging issues. In May of this year, I signed a decree that strengthened the foundation for substantial liberalization of the national economy. We will continue to take consistent systemic steps aimed at improving the conditions for investors in the country, – said the head of state.
Kassym-Jomart Tokayev highlighted that Kazakhstan possesses a unique mineral resource base and discussed measures to enhance the efficiency and transparency of processes in the field of geological exploration and mineral extraction. According to him, Kazakhstan has attracted private investments in geological exploration totaling over 1 billion dollars in the past six years.
Currently, approximately 1.6 million square kilometers of the country's territory are open for acquiring rights for subsoil use in geological exploration.
– The recently adopted National Infrastructure Plan until 2029 opens a "window of opportunities" for local producers. About 200 major infrastructure projects, valued at over 86 billion dollars, will be implemented. The government will compile a list of goods for localization of offtake contracts. A highly skilled workforce is necessary for industrial growth. Therefore, I declared 2025 as the Year of Skilled Trades. We are looking for investors ready to enhance the quality of technical and vocational education in Kazakhstan and develop the corresponding infrastructure, – stated the president.
Characterizing the situation in the energy sector, the head of state acknowledged the contributions of international oil companies that have played a significant role in the country's development.
– Foreign investors have invested capital, provided advanced technologies, and a highly skilled workforce. Their investments have contributed to the growth of our energy sector: over the past 30 years, oil production has tripled. As a result, Kazakhstan has entered the top five countries with high rates of oil production growth. Looking to the future, we aim to exceed the threshold of 100 million tons per year, – said the president.
It was further noted that the expansion of the petrochemical industry is also of key importance for the diversification of the economy.
– In 2022, we launched the largest polypropylene production plant in Central Asia with a capacity of 500 thousand tons per year. Currently, this facility covers almost 60% of domestic demand and exports products to Europe, Turkey, and China. In September of this year, construction began on a polyethylene production plant with a capacity of 1.2 million tons per year. Several petrochemical projects worth over 14 billion dollars are in development, – reported Kassym-Jomart Tokayev.
Special attention in the speech was given to enhancing the investment attractiveness of the "clean energy" sector. In particular, concrete agreements have been reached for the implementation of 43 GW of "green" projects in Kazakhstan with global companies such as Total, Svevind, ACWA Power, and Masdar. Additionally, Kazakhstan has immense potential for the development of nuclear energy.
– Our country is the largest producer of uranium in the world. As you know, citizens recently supported the construction of the first nuclear power plant in a national referendum, which will serve as a long-term investment in our energy security. We are currently considering the possibility of creating an international consortium to implement this project, – added the president of Kazakhstan.
The next sector that deserves investors' attention was named the agro-industrial sector.
– The development of Kazakhstan's agriculture is a strategic priority for ensuring food security in the Central Asian region. Our country ranks sixth in the world in terms of agricultural land area, which exceeds 200 million hectares. Over the past six years, industry exports have doubled, exceeding 5 billion dollars. As we strive to transform the agro-industrial complex into a high-tech sector, more than 100 projects worth 5 billion dollars will be implemented with the participation of foreign investors, – said the head of state.
In the transport and logistics sector, Kazakhstan aims to strengthen its position as a key Eurasian transit hub. The country plans to renovate 11 thousand kilometers of old railways and construct over 5 thousand new ones. A priority is the development of the Trans-Caspian International Transport Route, thus key attention is being paid to investments aimed at developing its infrastructure through the construction of new cargo terminals and the production of transport vessels.
Kassym-Jomart Tokayev specifically addressed issues regarding the protection of investors' rights and the improvement of regulatory policy.
It was noted that one of the objectives of the ongoing modernization of the legal and judicial system is to create a favorable investment climate. Digital interaction between the government and investors is being expanded. By the end of the year, the launch of a National Digital Investment Platform is planned, which will allow for real-time monitoring of project implementation.
The new Tax Code will facilitate the activation of the investment cycle by establishing tax preferences, which essentially allow for the deduction of all expenses related to the acquisition of machinery, equipment, and software.
In the context of strengthening cooperation in the financial sector, Kazakhstan emphasizes the work of the Astana International Financial Centre. The AIFC is a unique institution for the region that brings together the best practices of leading financial centers in the world.
In conclusion, the president emphasized the importance of continuing dialogue between Council members and state authorities aimed at improving the investment climate in the country, implementing new initiatives, and specific projects.
During the event, speeches were also made by EBRD President Odile Renaud-Basso, Deputy Prime Minister and Minister of National Economy Nurlan Baibazarov, Chairman of the Association "Kazakhstan Foreign Investors Council" Erlan Dosymbekov, CNPC Vice President Zhang Dawei, Chairman of the Board of the EAEU Development Bank Nikolai Podguzov, President of Alstom for the Africa, Middle East, and Central Asia regions Andrew Deleoni, and CEO of Lukoil Vadim Vorobyov.