French investors intend to develop new niches for investment in the Kazakhstan economy
It was discussed during an online meeting with the participation of the national investment promotion agency KAZAKH INVEST and the Chamber of Commerce of France.
The parties initiated an online webinar on the investment potential of Kazakhstan and state measures to support business in current situations. The purpose of this meeting was to clarify the conditions and bringing mechanisms to support investors in attracting new investments and reinvest, to be introduced with existing government support measures, and the migration and visa regime currently valid in Kazakhstan.
According to the Deputy Chairman of the Management Board of KAZAKH INVEST Mr. Birzhan Kaneshev, today the Kazakh-French relations are a prime example of effective and mutually beneficial cooperation based on strong traditions of friendship and mutual support.
“France is one of the five key trade and investment partners of Kazakhstan. Over the years of independence, the mutual turnover has reached about $50 billion. In addition, a number of large joint investment projects have been implemented in the sector of energy, transport, agriculture, pharmaceuticals, food production, which have already attracted more than $16.1 billion over the past 14 years”, - noted the speaker.
Also during the webinar, project implementation solutions on the mechanism of public-private partnerships were brought.
The parties noted great potential for expanding and deepening bilateral partnerships in the economic sphere. During the webinar, the participants interested in the available preferences, including exemption from a number of taxes, such as VAT, CIT, tax on land and property, as well as to the new projects with high potential, which are currently looking for foreign partners investors in the agro-industrial complex, the energy sector, and the mining and metallurgical complex.
Information:
As of 1 quarter of 2020, there are 170 enterprises with French capital in Kazakhstan, including multinational corporations such as Total, Orano, Airbus Group, Alstom, Danone, Vikat, Total Eren, Urbasolar, Air Liquide, Lactalis, Sanofi, etc.
