Strategy of attracting investments until 2022 developed in Almaty

Mayor of Almaty Bauyrzhan Baibek held a meeting of the Council on attracting investors and improving the investment climate, which includes representatives of international financial organizations, associations of foreign companies, consulting and legal companies, large foreign and Kazakh entrepreneurs.
Astana city14 November , 10:14

Mayor’s Office informed that during the meeting the draft Strategy of attracting investments in Almaty until 2022 was discussed. The document was developed in accordance with the National Investment Strategy and the Development Program "Almaty-2020".

Summing up the interim results of the work in the sphere of attracting investments, Deputy Mayor of the city, Almas Madiyev, reported that for the first 9 months of the current year the investments have grown by 13%, amounting to about 400 billion tenge. Foreign investments have increased by 23.5%, private investments have made 78% with the growth of 17%.

"An essential condition for the stable development of business is the provision of infrastructure. For these purposes, the Industrial Zone operates in Almaty, where the processing industry projects can receive land with ready infrastructure on preferential terms. For high-tech companies a special economic zone "Park of Innovative Technologies" operates, where residents are granted tax and customs privileges. In Almaty, about a thousand projects are supported through soft loans to SMEs. The Industrialization Map includes 100 projects with the creation of 12 thousand jobs. At the same time, a strategy has been developed to increase the investment attractiveness of the city", A. Madiyev said.

As a result of the study, three of the most attractive sectors from the investment perspective were identified: tourism, trade, and the food industry. At the same time, the key factors in the investment decision are market capacity, labor cost, transparency and security.

The developed strategy for attracting investments includes four areas: "Improving the quality of the institutional environment", "Improving the quality of business infrastructure", "Image promotion and information support" and "Attracting investments in priority industries through proactive project targeting".

"Creation of a favorable investment climate, open and honest relations with investors and businessmen who already work in Almaty are extremely important. Each of them acts as a kind of ambassador in his headquarters, tells about his experience to partners around the world. We support any initiative of a dialogue through working meetings, live discussions to find optimal solutions", Yuliya Kusidi, the Executive Director of the European Business Association of Kazakhstan, said.

Based on the results of the meeting, taking into account the recommendations and additions previously submitted by the Council members, the Strategy for Attracting Investments in Almaty until 2022 was approved.