The Ambassador of Kazakhstan to Qatar, Askar Shokybayev, delivering the opening speech at the investment seminar ‘Kazkhstan as an attractive economy and investment destination’ held at InterContinental Hotel in Doha yesterday. Others seated from left are
Qatar and Kazakhstan achieved major milestones in thier bilateral relations over the past few years. The countires took two important steps this year on their way to improve the cooperation, said Askar Shokybayev, Ambassador of Kazakhstan to Qatar, yesterday.
Delivering the opening address at the investment networking event, “Kazakhstan an attractive economy and investment destination”, Ambassador Shokybayev noted; “First, we are all glad to grant the Qatari citizens with visa-free regime to Kazakhstan and secondly we signed the long awaited MoU between the aviation authorities with the establishing of the direct flights by Qatar Airways to Nur-Sultan the capital city and the financial & business hub of Central Asia the city of Almaty. This means a big support to grow the business and trade between the state and private sectors of Kazakhstan and Qatar.”
Hamad Al Marri, Director of Business development and Investment Promotion Department, Ministery of Commerce and Industry of Qatar was present.
Ambassador Shokybayev said the yesterday’s forum was the culmination of a series of event organised by the Embassy of Kazakhstan in Qatar in December 2017, November and May 2019, with the support of State companies, private sector and fruitful meeting with various ministries, Qatar Investment Authority (QIA), Qatar Chamber, Qatar Businessmen Association (QBA) and many other government and private entities.
Recalling the President of Kazakhstan Kassym-Jomart Tokayev’s November 2 State of the Nation Address, Ambassador Shokybayev said Kazakhstan’s economy is moving forward despite the global challenges. From the start of the year, its growth has been higher than the world average. If necessary structural adjustments can be can be implemented, by 2025, the country’s annual sustainable growth of gross domestic product can reach 5 percent or higher. In order to give a new impetus to the development of the Kazakhstan’s economy, the country is implementing a number of structural tasks in line with the Long-Term Development Strategy 2050.
In a presentation, Timur Tilinin, Deputy CEO of Kazakh Invest said Kazakhstan is 25th in the World Bank’s “Ease of Doing Business” ranking. He said the country has one of the most favourable tax regime in the region. The country’s international financial centre (AIFC) and International Arbitration Center are legally separate and independent from Kazakhstan’s judicial system.. There are special proceedings for investors’ dispute resolution.
He said Kazakhstan guarantee the rights and legal protection to foreign investors.
Elaborating on the country’s attractive investment incentives, Tilinin said Kazakhstan’s 12 Special Economic Zones and 22 Industrial Zones offer both fiscal incentives and non-fiscal incentives. In collaboration with international consulting firms, the country has developed 116 investment proposals in various priority sectors. Agribusiness is one of the most important strategic sectors of Kazakhstan’s economy, he said.
