Investment opportunities in Kazakhstan presented to French companies

Nur-Sultan - Paris, October 29, 2020 - The development of trade, economic and investment cooperation was discussed at the Kazakh-French round-table and at a meeting of the Business Council of the two countries.

Over 100 representatives of the business community, heads of state bodies and quasi-public sector structures of Kazakhstan and France took part in the event, which was held via videoconference.

During the forum, a wide range of issues of economic development in new realities, as well as business and investment in Kazakhstan were considered. In addition, Kazakh speakers outlined the country's investment climate, as well as state support measures for businesses and opportunities for implementing investment projects in Kazakhstan.

Deputy Foreign Minister of Kazakhstan, Almas Aidarov, noted in his speech that the recent Address of President Kassym-Jomart Tokayev to the people of Kazakhstan clearly outlined additional measures and priorities in the implementation of investment policy, in particular, the introduction of a new instrument - a strategic investment contract.

The Deputy Minister said: "Our country is consistently implementing reforms aimed at improving the investment climate. Direct and open dialogue between the government and entrepreneurs is being provided, and infrastructure is being improved to attract new investment, know-how and advanced technologies. At the moment, on behalf of the Head of State, work is underway to introduce an additional support tool for large investors in the form of a strategic investment agreement. This agreement will provide investors with a comprehensive package of state support measures in the form of tax preferences, preferential financing, guaranteed purchases from the state, as well as export support. It is important to note the guarantees of stability of legislation and the availability of industry preferences".

On the sidelines of the event, the Kazakh side held bilateral meetings with the leadership of the French sovereign Fund and investment Bank Bpifrance, the largest manufacturer of construction materials and developer of innovative solutions Saint-Gobain, and a large industrial group Air Liquide.

It should be noted that France is included in the list of key trade and investment partners of Kazakhstan. Since 2010, the volume of foreign direct investment from this country in the Kazakh economy has amounted to about 11 billion US dollars. Today, there are 166 companies registered in Kazakhstan with French capital, particularly in the oil and gas sector, the uranium industry, mechanical engineering, agriculture, pharmaceuticals, transport, tourism, digitalization, energy, including renewable energy sources, and others. These companies include "Total", "Orano", "Alstom", "Air Liquide", "Vicat", "Danone", "Soufflet" and others.

The forum was organized by the Ministry of Foreign Affairs of Kazakhstan, the Kazakh Embassy in France, "KAZAKH INVEST", the co-chairs of the Kazakh-French Business Council and the Association of French enterprises MEDEF.