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  • KAZAKH INVEST and Czech Invest shared best practices in attracting investments
5 June, 2020 16:21

KAZAKH INVEST and Czech Invest shared best practices in attracting investments

KAZAKH INVEST and the Czech Investment Promotion Agency Czech Invest held a joint online webinar on sharing experiences in attracting domestic and foreign investments, Strategy2050.kz reports referring to the Kazakh company's press service.

KAZAKH INVEST and Czech Invest shared best practices in attracting investments | Strategy2050.kz

The First Secretary of Kazakhstan's Embassy to the Czech Republic, representatives of the Ministry of Industry and Trade of the Czech Republic, as well as representatives of Czech Invest and KAZAKH INVEST took part in the online webinar.

Director of the Department of International Economic Policy of the Ministry of Industry and Trade of the Czech Republic Martin Pospisil noted in his welcome speech that Kazakhstan has great potential to attract large investors to various sectors of the economy. In addition, the country is one of the strategic partners of the Czech Republic in Central Asia.

“I believe that our countries have a number of unrealized opportunities for cooperation in various fields of activity. In my opinion, there is also great potential in the implementation of Czech-Kazakh projects”, Martin Pospisil added.

At the same time, the need to strengthen partnerships between the countries and the great potential for further cooperation, especially in agriculture and mechanical engineering industries, was noted by KAZAKH INVEST Board Chairman Baurzhan Sartbayev.

“In the new reality, KAZAKH INVEST elaborates on various innovations in the sphere of attracting investments, including the sharing experiences with leading world investment attraction agencies while almost the whole world is quarantined. Now we are faced with the task of an early exit from the crisis, and certain works have achieved results. A number of projects with foreign investors participation in Kazakhstan continued construction and installation works. Most of them plan to implement projects on time”, Baurzhan Sartbayev said.

Chairman of the Board of Czech Invest Patrik Reichl shared the main activities of the company, in particular, assisting in the implementation of investment projects, providing advice to foreign investors to enter the Czech market, implementing state investment policies, managing a database of commercial real estate, as well as intervention in liaison with state and local authorities. In addition, the agency helps not only to connect with research development partners but also helps to first-time entrepreneurs to develop their innovative start-ups through their own programs.

During the online webinar, experts from both companies shared their experiences and discussed industry priorities, the life cycle of investment projects, general and industry events to promote investments, targeting investors, service support for existing investors, and measures taken by agencies in connection with the distribution of COVID-19.

Based on online meeting results, it was decided to deepen the strategic partnership between the agencies and maintain the sharing of best practices to increase efficiency in the implementation of common activities to attract investment.

For reference: Investment Promotion Agency "Czech Invest" was established in 1992. The activities of the Agency are supported by the Government of the Czech Republic and funded by the Ministry of Industry and Trade. The agency attracts both domestic and foreign investments in the aerospace industry, electrical engineering and electronics, information and communications technology, mechanical engineering, nanotechnology and new materials, research and development, biomedical developments, etc. The Agency's portfolio includes 1,916 approved projects with providing of 293.2 thousand workplaces. The projected amount of attracted foreign direct investment amounted to $ 43.5 billion.

chronicle 2050

SMEs will make up at least 50% of the GDP

abour productivity will reach up to $126 000 and 3 to 6 y.o. kids will have 100% access to pre-school education in Kazakhstan.

Kazakhstan will fully satisfy its own market of POL in compliance with the new environmental standards

The share of non-primary exports in total exports will double and triple by 2040

Transition to Latin graphics will commence

95% of the population will speak Kazakh

15% of the area under cultivation will make use of water-saving technologies.

The issue of providing water for irrigation will be resolve

GDP per capita will stand at $60 000

The urban population will represent 70% of the total population in Kazakhstan