Almaty, July 13: Kazakhstan remains one of the mostattractive countries for investors despite the financial crisis. In
2007-2009 annual inflow of direct foreign investments stood at between
USD 18.4 - 19.7 billion. The news was announced by Daniyar Akishev,
Vice Chairman of the National Bank of Kazakhstan, during tan on-line
conference at forum.profinance.kz. “Ratio of the gross FDI inflow to
the GDP in 2009 reached 16.9% as compared to 14.8% in 2008. In the Q1
2010 gross FDI reached USD 5.2 billion – up 52% year on year”.
Answering other questions posted, Mr Akishev said that USD 19 billion
has been used for the anti-crisis programme. The money went to support
owners of pre-financed apartment blocks under construction [suspended
due to lack of bank loans available for construction companies],
S&MBs, the country’s financial sector in general, innovative,
industrial and infrastructure projects. “AS part of the broad campaign
to secure stability of the financial sector, the four largest banks of
Kazakhstan have been recapitalized: the state allocated a total of KZT
476 billion (USD 1 = KZT 147) to that end. The state is to sell its
stakes in the four banks in line with market principles”.
III ASTANA ECONOMIC FORUM: KAZAKHSTAN'S PRESIDENT OUTLINES 7 PRIORITY VECTORS FOR INTEGRATION WITHIN EURASIA
Astana, July 1: TheIII Astana Economic Forum opened today in the capital of Kazakhstan.
During his opening speech, President Nazarbayev announced the 7
priority vectors along which the Eurasian integration should develop. The
first vector is the development of trade ties: “Further development of
trade ties calls for further reforms to ensure cheap and fast movement
of services and products. That’s what we are doing within the Customs
Union. We need to secure fair regulation of trade flows and exclude
trade protectionism”. The second vector is the development of
transport and communications infrastructures: “We need to develop
transport and communications infrastructures linking Europe and Asia.
We need to put in place global transport-and-communication hubs with
advanced logistics technology to reduce transactions-related costs”. The
third vector, according to the President, is the stimulation of
reciprocal investments: “Large-scaled integration is impossible without
a redistribution of investments and a favorable investment climate
across the continent”, the President said. The fourth vector
is common capital markets: "Integration of European and Asian financial
markets, enhancement and harmonization of financial regulation
practices, common approaches to risk-management allow building a stable
financial system which would be effectively supporting trade and
investments flows within the continent”. The fifth vector is
stable new sources of energy: “Alternative sources of energy should be
the new ideology”, said President Nazarbayev. The sixth vector
is the exchange and development of human resources. According to the
President, migration policies within Eurasia should be concerted and
simplified. Greater efforts should be taken to unleash intellectual
potential and fine-tune exchange of expertise. Finally, the seventh vector should be to strengthen cooperation to secure greater food security within Eurasia.
KAZAKHSTAN CREATES FAVOURABLE INVESTMENT CLIMATE
Almaty, June 4: Cosponsored by Kazakhstan’s Foreign
Investors Council and the International Herald Tribune the 4th Kazakhstan
Investment Summit, which took place on June 3-4 in Almaty, provided an
excellent opportunity for top policy makers and global business leaders to take
stock of the status and prospects of Kazakhstan’s economy. The almost universal
verdict: the country weathered the economic crisis well and, despite
challenges, is again becoming a very attractive magnet for international
investment.
Opening the forum with a welcome address, Kazakhstan’s
President Nursultan Nazarbayev emphasized the special status of the event,
where key members of the Kazakh Government as well as business and political
leaders from the region, Asia, Europe and America exchange views on business
and financial policies.
The Investment Summit was aimed at providing business
leaders and investors from around the world with an up-to-date outlook on
investment prospects and risks in Kazakhstan while the Kazakh side was mainly
interested in discussing the way of getting the foreign investors involved in
the implementation of industrial projects. During the summit the issue of
creating legal framework for determining the competitiveness and long-term
economic growth was touched upon as well.
Welcoming the summit participants, President Nazarbayev
reminded that this forum was being held in anticipation of the 23rd plenary
meeting of the Foreign Investors Council
of Kazakhstan, and has already established itself as an important platform for
exchange of information and strengthening contacts between Kazakh and
international business community.
The President discussed the diversification of the Kazakh
economy through the implementation of the State Program of Accelerated
Industrial and Innovative Development ( PAIID).
He recalled that the government has developed the nation’s
“Map of Industrialisation”, which includes more than 100 projects of national
and regional significance amounting to more than US$ 45 billion.
To implement a new programme, Kazakhstan has identified 12
priority sectors of the economy for attracting investments, including
metallurgy, oil refining and chemical industry, agriculture, engineering,
construction industry, transport and telecommunications infrastructure, and a few
others.
NEW PLAN FOR ACCELERATED INDUSTRIALIZATION OF KAZAKHSTAN'S ECONOMY
Astana, April 26: For several years now, Kazakhstan has been trying to develop
non-oil sectors as it builds a more diversified and stable economy. The recent
global financial and economic crisis has only strengthened Astana’s resolve to
have a strong and varied economic base, one that would be characterized by new
technologies and industries.
Earlier this year, in his state of the nation address,
President Nursultan Nazarbayev has called for a major industrialization drive
up to the year 2020, and the Government has set to work with renewed vigor.
Hence, a State Program for accelerated industrial and
innovative development (AIID) for 2010-2014 as the first five-year plan to
implement a 10-year development strategy of Kazakhstan developed by the
government and approved by a presidential decree on March 19 this year.
In mid-April, the Government approved key mechanisms for
implementing the strategy including an action plan, “Scheme of Rational
Distribution of Manufacturing Capacities”, “Map of Industrialization” and a
“2020 Business Road Map”.
Presenting the document, First Deputy Minister of Industry
and New Technologies Albert Rau noted that the draft plan has been worked out
and agreed with all concerned government agencies and departments, local
governments of the regions (akimats), the Samruk-Kazyna National Welfare Fund,
and the KazAgro national holding.
The “Map of Industrialization” envisages 101 projects worth
6.8 trillion tenge. Once implemented, they are due to create more than 130,000
temporary and 90,000 permanent jobs.
The main aim of implementation of the “Scheme of Rational
Distribution of Manufacturing Capacity” is to identify required parameters for
the territorial and sectored development with reference to the Map of
Industrialization. Moreover, this program is a guide line for planning
investment solutions for business, forecasting basis for developing programs of
a regional development, the basis for building up sectored programs for
implementing the State Program for AIID.
Under the “2020 Business Road Map”, new investment projects
and enterprises, aimed at modernizing and expanding Kazakhstan’s production
capacity will get subsidized loans. This year, the Government has provided 30
billion tenge for this program from the state budget. The program will consist
of three areas, including the promotion of new business initiatives,
improvement of the business sector and support for export-oriented industries.
VISIT OFKAZAKHSTAN'S STATE SECRETARY - MINISTER OF FOREIGN AFFAIRS KANAT
SAUDABAYEV TO JAPAN ADVANCED POLITICAL AND ECONOMIC TIES
Tokyo, March 25:
Secretary of State – Minister of Foreign Affairs of the Republic of
Kazakhstan Kanat Saudabayev visited Tokyo on March 23-25 for top-level
meetings with Japanese officials focused on promoting political
dialogue and expanding partnership in peaceful nuclear energy
development.
In
Tokyo, Kanat Saudabayev met with Prime Minister Yukio Hatoyama, Foreign
Minister Katsuya Okada, Speakers of the House of Representatives
Takahiro Yokomichi and the House of Counselors Satsuki Eda, as well as
Minister of Economy, Trade and Industry Masayuki Naoshima. Together
with Minister Naoshima, Saudabayev oversaw the signing of an agreement
between the Central Asian country’s National Atomic Company Kazatomprom
and Sumitomo Corporation establishing a joint enterprise in mining and
processing rare-earth metals.
Kanat
Saudabayev began his visit with a meeting with Prime Minister Yukio
Hatoyama where they reaffirmed the mutual desire of Astana and Tokyo to
build stronger political and economic ties.
The
partnership between Kazakhstan and Japan is based on common approaches
to ensuring peace and security in Asia and in the entire world, and
Kazakhstan is ready to build on joint efforts, Saudabayev said at the
meeting which took place in the Prime Minister’s office.
He
further noted that the area of nuclear disarmament and nonproliferation
presents wide opportunities for closer coordination between Kazakhstan
and Japan, as both countries have learnt the tragic way the horrors of
nuclear weapons. Saudabayev specifically thanked the Japanese
government for its assistance in rehabilitation of the former
Semipalatinsk nuclear test site region.
Energy
partnership is the backbone of economic relations between the two
countries, with nuclear energy playing an increasingly important role.
Earlier this year, an intergovernmental agreement on cooperation in
peaceful use of atomic energy was signed, opening the way for an even
wider interaction.
While
this is an important agreement for the development of business ties
between the two countries, Hatoyama also called for an early signing of
a bilateral agreement on mutual protection and encouragement of
investments.
In
a special statement issued at the end of their meeting, Saudabayev and
Okada said they welcomed expansion of economic ties between Kazakhstan
and Japan. The Japanese side announced its intention to give a loan for
financing the construction of a highway in South Kazakhstan, which
would serve as part of an international transport corridor being
developed by the Central Asian Regional Economic Cooperation framework.
The two sides also welcomed the recent implementation of
intergovernmental agreements on avoiding double taxation and noted the
important role of the Joint commission of private and public sectors on
Kazakh-Japanese economic cooperation.
KAZAKHSTAN OPENS ITS HONORARY CONSULATE IN HOKKAIDO
Sapporo, March 6:
On March 5, 2010 an Honorary Consulate of the Republic of Kazakhstan in
Sapporo, Hokkaido was opened. The opening ceremony of the second
Honorary consulate of Kazakhstan in Japan was attended by His
Excellency the Ambassador Extraordinary and Plenipotentiary of the
Republic of Kazakhstan to Japan, Mr. Akylbek A. Kamaldinov, and
official representatives of Hokkaido.
The
opening of the Honorary Consulate follows the October 22,
2009 appointment of Mr. Mamoru Omoto, president of Kasei Haya logistics
company, as Honorary Consul of the Republic of Kazakhstan in Hokkaido.
It
is expected that the Honorary Consulate will strengthen partnership
between Kazakhstan and Hokkaido and will promote mutual understanding
and friendship between the people of Kazakhstan and Japan.
KAZAKHSTAN AND JAPAN SIGNED AN AGREEMENT TO COOPERATE IN THE PEACEFUL USES OF NUCLEAR POWER
Tokyo, March 2: The agreement between the Government of
Kazakhstan and the Government of Japan for Cooperation in the Peaceful Uses of
Nuclear Energy was signed by the Ambassador of the Republic of Kazakhstan in
Japan Akylbek Kamaldinov and the Minister of Foreign Affairs of Japan Katsuya
Okada. The signing of the agreement follows agreements reached during a visit
by the President of the Republic of Kazakhstan Nursultan Nazarbayev to Japan in
2008 and a visit of the Prime Minister of Japan Junichiro Koizumi to Kazakhstan
in 2006.
The agreement is the basic document for the development of cooperation between the two countries in the field of nuclear energy,
implementation of which will further strengthen the strategic partnership
between Kazakhstan and Japan.
Kazakhstan profile