Kazakh, Chinese businessmen had roundtable meeting in Shanghai

The event was organized by JSC KAZNEX-INVEST National Agency for Export and Investments. Chairman of KAZNEX Borisbiy Zhangurazov was a moderator at the meeting, which brought together around 70 participants – Kazakh Minister of Investments and Development Zhenis Kassymbek, Vice Minister of Agriculture Gulmira Issayeva, a delegation of the Atameken National Entrepreneurship Chamber, LLP ОХК, LLP KPI, JSC Allure Group of Companies, LLP SaryarkaAvtoProm and several other Kazakhstani firms. From Chinese side the event was attended by Bayin Nonferrous Metal Industry Group Ltd., China Telecom, AVIC Securities Co. Ltd, CNPC, CNPC, Tsinghua, Silk Road Foundation, Bank of China, China Development Bank etc.

“At the current stage, our relations are notable for a high dynamics of top-level contacts and a wide range issues of trade-economic and humanitarian interaction. Due to the implementation of investment climate improvement measures and thanks to the high-level agreements, Kazakhstani companies continue to actively develop cooperation with Chinese partners,” said Sagintayev.

More than 700 joint companies are functioning today in China, he said. The gross inflow of direct Chinese investments in Kazakhstan economy in 2005-2015 made around $12.7 bln, which  puts China in the row of top five leading investors of Kazakhstan.

Sagintayev reminded of the $25.8 bln  deal on 51 investment projects  signed during the Kazakh President’s last year visit to China. These are the projects in chemical, ore-mining, agro-industrial, machine-building, infrastructure and energy sectors.

The implementation of the projects will enable us to create high-technological enterprises  capable to manufacture high-value added products. Besides, the projects will let promote industrial development of priority areas of Kazakhstan economy as well as establish over 15,000 new job places.

According to him, 2 joint projects were put into operation last year.  4 projects are under implementation now. 12 projects will be launched in 2017.  Special attention is given to financing the projects. Thus, Kazakhstan has already entered into contracts with such major financial institutions of China, as the China Development Bank, Bank of China, Silk Road Foundation.

The First Deputy PM told also about the measures taken by Kazakhstan to improve its investment climate.

“The Government has elaborated a package of incentives for foreign investors, based on international practice. For instance, allocation of land plots for construction of industrial facilities, exemption from taxation for a 10-year period, allocation of quotas for  workforce entry and many other measures”.

Sagintayev told about the 100 Specific Steps National Plan on implementation of the Presidential Five Institutional Reforms. One of them is industrialization and economic growth based on diversification of economy, which can be reached with the attraction of transnational and anchor investors to the country’s processing sector.

“We target on attraction of investors. In the past 11 years, the inflow of direct investments to Kazakhstan exceeded $220 mln,” he added.

After his speech, the participants of the meeting exchanged views on joint projects and the prospects of further development of cooperation.