Economic recovery in post-pandemic period discussed in RK Govt

At a meeting of the Council for improvement of investment climate (CIIC) chaired by Prime Minister Askar Mamin, the issues of economic recovery in Kazakhstan in the post-pandemic period were considered, reports with reference to the press service of the Prime Minister of Kazakhstan.

Ambassadors of the United States, W. Moser, the United Kingdom - M. Gifford, Canada - N. Brusso, the European Union - Sven-Olov Karlsson, accredited in Kazakhstan, Director of the OECD Eurasian Division U. Thompson, Director of the EBRD Representative Office in Kazakhstan, A. Preimanis, Chairman of the Shell Concern in Kazakhstan O. Lazar, and representatives of EY and Deloitte made reports on prospects of international financial institutions and investment community in Kazakhstan.

The Minister of National Economy R. Dalenov commented on the investment policy of the Republic of Kazakhstan and the anti-crisis measures taken.

"The anti-crisis measures taken by the Government made it possible to smooth out the economic recession due to the pandemic – a positive dynamics have been preserved in the real sector of the economy, in particular, construction (10.5%), agriculture (5%) and manufacturing (3.3%)," said A. Mamin.

The Prime Minister stressed that leading international financial institutions, including the European Bank for Reconstruction and Development, the Asian Development Bank, the International Monetary Fund, as well as the rating agencies Moody’s, Fitch, and Standard & Poor’s confirmed positive forecasts for development of the economy of Kazakhstan.

The Prime Minister noted that in order to ensure further growth of the economy and formation of grounds for its high-quality and sustainable development in the context of a new post-pandemic reality, the Strategic Development Plan of Kazakhstan until 2025 has been developed. At the same time, the Government will implement a new concept for attracting foreign capital.

“One of the principles of this work will be a targeted approach to investors at each stage of preparation and implementation of projects,” A. Mamin said.

The PM noted that special investment agreements will be signed, which will provide differentiated "packages" of support for each strategic investor.

"Attracting investments is a key aspect of our new economic model. We will ensure the effective implementation of recommendations for further strengthening the international position of Kazakhstan as a reliable and predictable investment direction," A. Mamin summed up.
19:54, 22 October 2020