The ITIC report official launch and Kazakhstan’s investment opportunities presentation
On December 10, 2020, a new report of the International Tax and Investment Center (ITIC) «Foreign Investment in Central Asia: actors and drivers» has been released by Ariel Cohen, an internationally renowned expert on energy policy in Russia/Eurasia, Eastern and Central Europe, and the Middle East, and James Grant, a Research Fellow at the ITIC.
The authors focused on the capacity and region-wide challenges that Central Asian countries face today, and gave an appraisal of their future growth opportunities and resilience of national economies to improve the quality of life of their population.
Dr. Cohen noted a successful implementation of the World Bank reforms, including easing access to credit, simplifying cross-border trade, tax regimes and payment systems, and increasing minority shareholders’ rights highly contributing to the regional transformation. The progress of first of all Kazakhstan along with Uzbekistan and Tajikistan in improving their Doing Business ranking has been mentioned as well.
Report findings indicate that increased economic diversification from fossil fuels, eliminating corruption and investing in human capital and civic infrastructure are priorities of the countries’ development agenda.
Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Mr. Almas Aidarov provided an overview of Kazakhstan’s investment opportunities and shared views on the further development of Kazakhstan-US trade and economic core areas of cooperation.
Mr. Aidarov acknowledged the high interest and commitment of the ITIC experts towards economic issues of the Central Asia and briefed participants on investment policy priorities, including a new instrumental mechanism - a Strategic Investment Contract. Deputy Foreign Minister urged the US investors to unleash more the significant potential of bilateral investment cooperation through agriculture, food security, tech and supply chain projects.
The event gathered over 100 participants of American business and research community and allowed for an open discussion of the Central Asian region capacity to emerge as a hub for trade and commerce.
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The International Tax and Investment Center (ITIC) is an independent, non-profit research and education organization founded in 1993 to promote tax reform and public-private initiatives to improve the investment climate in transition and developing economies. ITIC serves as a clearinghouse for information on best practices in taxation and investment policy.
Embassy of Kazakhstan to the USA