Chairman of the Government of Kazakhstan Alikhan Smailov held a regular meeting of the Council on Improving the Investment Climate with the representatives of major foreign companies, diplomatic missions, central government agencies and NCE Atameken. The participants considered removing administrative barriers for businesses, improving taxation and developing new technologies and discussed the impact of global economic trends on Kazakhstan’s economy, the press office of the Government of Kazakhstan reported to CentralAsia.news.
The Prime Minister emphasised that despite external challenges, Kazakhstan’s economy maintained positive growth and investment attractiveness last year. In the nine months of 2022, the foreign direct investment gross flows increased by 17.8% and stood at $22.1 billion.
Talking about the new instruments that have been introduced lately, the Prime Minister mentioned the Agreement on Investment Obligations and the Improved Model Contract, as well as the simplification of the procedure of concluding an investment agreement.
He noted that one of the keys to improving Kazakhstan’s attractiveness as an investment location include a predictable and transparent tax policy. With this in mind, a new Tax Code is being developed to restart fiscal regulation. It provides for the digitalisation of tax administration, the transition to differentiated rates, the stimulation of technological upgrade and the facilitation of special tax regimes.
“We highly evaluate the active role of foreign partners and diplomatic missions in improving the investment climate in Kazakhstan. For our part, we are ready to provide the necessary support to promising projects,” Smailov concluded.
