India seeks to enhance investments in Kazakhstan through a mega investment forum

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Eyeing to increase Indian investments in Central Asias biggest country Kazakhstan and vice-versa, a Kazakh-Indian Invest Forum will be held here between Nov 12-14.

Event will be organized by the The Embassy of Kazakhstan in India along with “KAZAKH INVEST” National Company (acts on the government’s behalf as a negotiator with major investors) and FICCI (Federation of Indian Chambers of Commerce and Industry).

Kazakhstan delegation will be headed by Chairman of the Management Board of “KAZAKH INVEST” National Company JSC Mr. Saparbek Tuyakbayev. The delegation will also include the heads of more than 10 leading companies of Kazakhstan.

The Invest Forum will be attended by representatives of the Ministry of Commerce and Industry, Ministry of External Affairs of India, the Federation of Indian Chambers of Commerce and Industry and others. The Indian side will be also represented by representatives of more than 50 large business companies.

The event will include a plenary session (14 November), and thematic sections with B2B meetings with TNC and large Indian companies (12-13 November). Within the framework of event, the Kazakh entrepreneurs will provide detailed information on investment projects.

Kazakhstan ranks 36th in the “Ease of Doing Business 2018” report, confirming its attractiveness to foreign direct investment.

Kazakhstan has developed an attractive business environment, providing with the highest level of comfort for flourishing businesses(exemption from VAT up to 10 years, reimbursement of up to 30% of the cost of construction and installation work, exemption from customs duties up to 15 years etc.).

On October 5 President of Kazakhstan Nursultan Nazarbayev in his State of the Nation Address “Growing welfare of Kazakh citizens: Increase in income and quality of life” mentioned that over the past 20 years, the country has raised $300 billion of direct foreign investment. So Kazakhstan will continue to create conditions for investors.

The volume of foreign direct investments injected in the Kazakh economy rose by 15.4 percent in six months in 2018; the figure is estimated at $12.3 billion compared to $10.5 billion during the same period in 2017.

Kazakhstan tops Central Asian countries in terms of attracted investments, accounting for more than 70 percent of all foreign direct investments into the region.

There are countless opportunities for Indian business owners, extending far beyond Kazakhstan borders, and targeting over 500 million consumers in the international markets of the Eurasian Economic Union, Europe, and China.

Relations between India and Kazakhstan was established 26 years ago and develop in the spirit of friendship, partnership and are based on the cultural and historical affinity between the peoples of the two countries. Bilateral cooperation has been raised to the strategic level in 2009 during the visit of President of Kazakhstan Nursultan Nazarbayev to India and is developing very fast. The main highlights of the cooperation are the absence of any political disputesbetween the two countries.

Currently, Kazakhstan and India has a very fruitful cooperation in a wide range of areas, such as space, military-technical cooperation, IT, Fintech, oil and gas, banking etc.

Tengri Bank (Almaty), whose shareholder is the National Bank of Punjab (49%), has opened more than 80 accounts of Indian companies during the last two years.

Kazakhstan has become the main supplier of uranium to India.

The outcome of the Business Invest Forum can serve for increasing the trade turnover between the two countries by two or three times (the current Kazakhstan-India trade turnover is about $ 1 billion).





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