Kazakhstan to facilitate investments from U.S.

By Azernews

By Abdul Kerimkhanov

Development of cooperation with the U.S. is one of the priorities of Kazakhstan's foreign policy.

Askar Mamin, Prime Minister of Kazakhstan, has met with the U.S. Ambassador to Kazakhstan William Moser.

At the meeting the parties discussed issues of further development of cooperation in the investment sector, the oil industry, and the agro-industrial sphere.

Mamin emphasized that the U.S. remains one of Kazakhstan’s key partners and investors. He noted the importance of implementing the agreements reached by first President of Kazakhstan Nursultan Nazarbayev and the U.S. President Donald Trump on January 2018 in Washington, as well as expanding the horizons of mutually beneficial interaction.

In 2018, trade turnover between Kazakhstan and the U.S. increased by 37.3 percent to $2.2 billion. The inflow of U.S. investment in the Kazakh economy increased by 44.7 percent and set a new absolute record, reaching $5.3 billion.

“To attract investments and implement strategic investment projects, special attention is paid to creating the most favorable conditions for investors. New approaches will create more comfortable conditions for American partners,” Mamin said.

The Coordination Council on Foreign Direct Investment and the Foreign Direct Investment Fund have been established in order to effectively address issues related to the implementation of investment projects in promising export-oriented industries.

Mamin noted the prospects for the implementation of projects by large American companies in the agro-industrial sector, stressing the great potential and the possibility of organizing production in Kazakhstan with localization and entering the markets of the region.

In turn, Moser gave a high appraisal of the approaches to improving the investment climate and noted the readiness of the American side to continue cooperation in the existing format.

More than 500 companies with U.S. capital work in Kazakhstan. In recent years, such companies as Primus Power, Spancrete, Uber, Starbucks, McDonalds and Netflix have entered Kazakhstan.

Imports from the U.S. to Kazakhstan include machines, electrical equipment, ground vehicles and aircraft. Exports to the U.S. from Kazakhstan are products of the chemical and related industries, products in the form of granules or powder, machinery and equipment.

The introduction of a visa-free regime for up to 30 days for U.S. citizens since the beginning of 2017 plays a positive role in promoting tourism in Kazakhstan.