ASTANA – Kazakhstan is seeking to improve the country’s business conditions by adopting measures to reduce red tape for foreign investors, Kazakh Prime Minister Bakhytzhan Sagintayev announced on Tuesday.
“We need to reorient all the investment that may come our way,” Sagintayev said during the Kazakhstan Global Investment Roundtable.
In that regard, the Central Asian country has proposed improving public advisory and consulting services for investors, simplifying admission procedures and providing public services to foreigners in English starting in 2020.
In addition, 12 agreements valued at $3 billion were signed during the investment forum, including the establishment of a vehicle crossing point along the “Western Europe – Western China” highway and an agreement for the construction of a gas power plant.
Sagintayev also noted that the protection of private property, the rule of law and transparency will be the guiding principles of the Kazakh government’s work next year.
The administration has a strategic goal of making Kazakhstan an important transportation and logistics hub in Central Asia and to that end plans to increase transit traffic to two million containers by 2020, which would result in revenues of up to $5 billion.
Representatives of more than 100 international companies, financial organizations, embassies and non-governmental organizations, as well as foreign media, participated in the forum.