WEEKLY REVIEW: Kazakhstan continues to improve investment climate, steps up cooperation with international financial institutes

On Monday June 17, the Ministry of Foreign Affairs of Kazakhstan hosted a roundtable on the protection of foreign investors' rights and introduction of the investment Ombudsman institution in Kazakhstan. In his welcoming remarks, Kazakhstan's Deputy Prime Minister, Minister of Industry and New Technologies Asset Issekeshev noted Kazakhstan does its best to enhance its investment attractiveness. Over the years of independence, Kazakhstan has attracted some $171 billion direct foreign investments, where 48% (or $81.6 billion) have been raised only in last four years. Thanks to successful implementation of the State Program of Advanced Industrial and Innovative Development, the structure of attracted investments has changed recently.

"Currently, we are working on more than 400 initiatives of foreign investors from 80 countries of the world. Out of 400, 80 projects worth $10 billion have already been implemented. Nearly 8 thousand foreign companies, namely Chevron, Siemens, Microsoft, General Electrics, Coca Cola, Danone, Henkel, operate in the country.

Minister Issekeshev also stressed that it is the responsibility of the Council on the improvement of investment climate chaired by the Prime Minister of the country to discuss and solve strategic issues in this sphere.

On Tuesday June 18, the Government of Kazakhstan approved the draft resolution on the implementation of the revised national budget for 2013-2015. In his report Minister of Economy and Budget Planning Yerbolat Dossayev stated the document is aimed at ensuring budget balance, implementing the President's instructions on the division of powers between levels of state administration and infrastructure projects through the use of the earmarked transfer from the National Fund.

During the session Prime Minister Serik Akhmetov instructed to arrange the opening of the new Astana Opera Theater in the Kazakh capital at the highest level. He noted its opening will be a benchmark event in the social and cultural life of Astana and the country on the whole.

Minister, Asian Development Bank's Governor for Kazakhstan Yerbolat Dossayev and Vice-President of ADB Zhao Xiaoyu signed a memorandum of understanding on the program of sharing knowledge and experience, according to the press service of the Ministry of Economy and Budget Planning the same day. In general, the program aims at strengthening cooperation in the field of knowledge between the Government of Kazakhstan and ADB with a focus on the exchange of advanced knowledge, best practices, and strengthening the potential in order to enhance the efficiency of the economy and find innovative solutions. According to the Kazakh Economy Ministry, funding will be provided on a parity basis, i.e. 50% by ADB and 50% by the Government of Kazakhstan during the period from 2013 to 2015.

Kazakh Prime Minister Serik Akhmetov held a telephone conference on the issues of water, fire and road safety at Ukimet Uyi (House of Government) on Wednesday (June 19). Opening the meeting, Akhmetov said that with the start of the bathing season deaths in Kazakhstan's waters, especially child deaths became more frequent. The Prime Minister also focused on the issues of road safety. In this regard, Akhmetov ordered to transfer to the regions the plan of sectoral program of road safety in Kazakhstan.

On Thursday June 20, Minister of Environmental Protection Nurlan Kapparov took part in the session of the Interstate Commission for Sustainable Development of the Central Asian countries in Dushanbe. The session mainly focused on the opportunities for cooperation in the field of 'green economy' between the CA countries.

N.Kapparov spoke in details about the concept of Kazakhstan's transition to 'green economy' that outlines the tasks of effective use of natural resources; how to improve the living standards, create new jobs and better the environment conditions.

Deputy Prime Minister Yerbol Orynbayev visited Preobrazhenskoye village during his working trip to East Kazakhstan region on Friday (June 21). A number of successful projects realized there under the program Employment 2020 was presented to the Deputy Prime Minister. The first national employment forum under the title "Anticrisis Regulation - Employment Roadmap 2020" with participation of Yerbol Orynbayev took place in the region on Friday as well.