President Nazarbayev promises better conditions for investors

This year Kazakhstan will pass a law to enhance conditions for investors, the country’s President Nursultan Nazarbayev stated at the opening of the Asian Development Bank (ADB) 47th Annual Meeting 2014 in Astana.

“We have reviewed our vision of the country’s development in the Strategy of Development through to 2050. The Strategy seeks to secure a comprehensive modernization so that Kazakhstan could accelerate its accession into the club of the 30 most developed nations. The country’s efforts to attract both foreign and local investments are of paramount importance to such a modernization. We are working to put in place a favorable climate for foreign investors. To this end, this year we are drafting a new investments-related legislation”, President said.

According to the Head of State, investors will be exempted from having to pay a corporate income tax for a 10-year period; among other things, efforts will be taken to ensure legislation stability and simplify import of foreign workforce.

“Kazakhstan will be working with foreign investors on the basis of the single-window principle. Besides, there will be an institute of the investments ombudsman (…) I’m confident Kazakhstan not only will be part of the civilized Asian market, but also a power house in Central Asia’, he said.