35 foreign companies relocated to Kazakhstan

ASTANA. KAZINFORM 35 large foreign companies have relocated to Kazakhstan to date, according to Prime Minister Alikhan Smailov, who said it at today’s extended session of AMANAT Party, Kazinform reports.

«Thanks to the measures taken, a record volume of foreign direct investments – 28 billion US dollars - were attracted to the country in 2022,» he said.

«The 2026 Investment Policy Concept is being implemented for the purpose of creating a new investment cycle. The companies working in priority sector are exempted from taxes and customs duties and receive full-scale grants. Major investors are offered to enter into an agreement on investments with the provision of additional state support measures on special terms and conditions. Alongside, mutual obligations for investors are set,» he added.

The government enables foreign investors to conclude investment commitment agreements that guarantee stability of tax legislation.

To attract additional investments to oil and gas sector, the country has introduced fiscal stimulus in concluding the Improved Model Contract.

In general, in 2019-2022 investments in fixed capital rose by 35% and made 15.1 trillion tenge, the Prime Minister concluded.