World Monitor Magazine WM_Energy_ 2019_web | Page 24

INVEST TO KAZAKHSTAN
Business and investment to Kazakhstan
What is being done to attract investors, how is the government answering
investors' questions, how are investors considered - this and much more
was discussed with Erlan Khairov, Ambassador-at-Large of the Ministry
of Foreign Affairs of the Republic of Kazakhstan.
At the last extended meeting of the
government, the head of state drew
particular attention to the work on
attracting investments. Tell us what
is being done in this direction? How
do you protect an investor?
Erlan Khairov,
Ambassador-at-Large
of the Ministry of
Foreign Affairs,
Kazakhstan
Of course, investor protection is one of
the main priorities of the government. At
the legislative level, there are two main
documents that guarantee protection to
investors in Kazakhstan. The first is the
Entrepreneurial Code of the Republic of
Kazakhstan, which allows partnerships
to be built between the state and
business.
At the international level, this is an
agreement on the Encouragement and
Reciprocal Protection of Investments,
which provides the basis for foreign
direct investment. To date, Kazakhstan
has concluded 47 bilateral agreements
that fully protect investors' property and
finances.
How does the government respond to
emerging investor concerns? What
does an investor protection system
look like?
In working to attract investments, we’ve
built a three-level system.
At the first level, there is a Council of
Foreign Investors under the president
of the Republic of Kazakhstan where
strategic tasks are solved. Problems
that were already solved at the previous
levels are submitted to the council.
22
world monitor
At the same time, an investment board
functions under the supreme court of
the Republic of Kazakhstan, created in
accordance with the recommendation of
the OECD.
At the second level, there is a coordination
council under the government, which
addresses emerging issues of a systemic
nature.
Recently, the prime minister of the
Republic of Kazakhstan has been
appointed an investment ombudsman,
which indicates the government’s focus
on protecting existing investors. The
work of the ombudsman is aimed at
resolving current issues.
Could you tell us how you interact
with the investment community?
In our country there are associations
uniting foreign investors. First of all,
it is the Kazakhstan Foreign Investors
Council Association, which unites the
main investors in the country, who have
invested over $200 billion. The European
Business Association of Kazakhstan
also plays a very active role, bringing
together more than 120 members from
the countries of the European Union
and Kazakhstan. Together with FIC
and EUROBAK, the issues of European,
American, Turkish, Canadian and other
investors are equally addressed at the
level of the prime minister.
What is the nature of these issues
that are being considered?