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President invites German investors to get in 3rd wave of privatization

12 October 2017 21:06 1767

ASTANA - SOCHI. KAZINFORM In Sochi, President of Kazakhstan Nursultan Nazarbayev, together with the Russian President, has met today with representatives of business circles of Germany, Kazinform cites the Akorda press service.

In the course of the talks, Nursultan Nazarbayev highlighted the well-established trade and economic partnership between Kazakhstan and Germany.

"Over the years of independence, Germany has invested about $5 billion in Kazakhstan. Besides, it is important to note that about 90 percent has been invested in the non-primary sector. For 8 months of this year, the trade between our countries has increased by $1.5 billion. Over the past five years alone, Kazakhstan has implemented 19 major investment projects," the President of Kazakhstan said.

The Head of State underscored Kazakhstan's policy of preserving inter-ethnic accord, reminding of the mutual cooperation for supporting the communities of Germans living in Kazakhstan.

Nursultan Nazarbayev drew attention to the projects implemented with the participation of German capital.

"Nowadays, in Kazakhstan, over 900 enterprises with German participation successfully operate in various sectors, including construction, transport, agriculture, manufacturing," the President of Kazakhstan said.

Also, the Head of State mentioned the potential of the Eurasian transport corridor, noting the crucial role Kazakhstan plays in it.

"Presently, 5 international railways and 6 international highways pass through Kazakhstan. Thus, the strategic transport corridors that can be used by you have been made," Nursultan Nazarbayev told the German businessmen.

The President of Kazakhstan dwelled on the major actions Kazakhstan takes for making a favorable investment and business climate.

"We ensure the rights protection for the business and liberalize the entrepreneurship legislation. Last year, we ranked 35th in the World Bank's rating. Earlier this year, Kazakhstan became an Associate Member of the OECD Investment Committee and joined the Declaration on International Investment," the President said.

Nursultan Nazarbayev emphasized the work of the Foreign Investors Council under the President of the Republic of Kazakhstan and pointed to the conditions provided by Kazakhstan for businessmen, such as the visa-free regime for a number of countries and exemption from corporate tax for investment projects.

The President of Kazakhstan also invited German investors to be involved in the third wave of privatization and actively develop the cooperation with the Astana International Financial Centre.

"Businessmen need to use all opportunities to develop business and strengthen mutually beneficial cooperation. I am sure that today's meeting will strengthen our partnership," the Head of State said.