Alibek Kuantyrov met with experts from Moody’s rating agency
Representatives of the international rating agency Moody's have arrived in Kazakhstan to assess the country's investment climate, Kazinform News Agency has learnt from Kazakh Invest.
During the visit, the agency's analysts met with Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Alibek Kuantyrov, Chairman of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan Gabidulla Ospankulov and Deputy Chairman of the Board of KAZAKH INVEST Madiyar Sultanbek, during which the parties discussed medium-term investment forecasts, investment evaluation criteria and international strategic partnership of Kazakhstan.
Alibek Kuantyrov told the agency's representatives about plans to improve the investment climate:
"The impetus may be Kazakhstan's accession to the OECD, which will mean bringing the country's socio-economic policy in line with the high standards of the organization. Kazakhstan is already implementing several economic reforms and modernization projects, including industrialization and digitalization programs. In addition, Kazakhstan plays an important role in Central Asia, and its strategic position between Europe and Asia makes it attractive to investors. Since 2017, we have been an "associate member" of the OECD Investment Committee"
In turn, Gabidulla Ospankulov informed the representatives about the existing measures of state support for investors, and the activities of the National Digital Investment Platform and elaborated on promising industries:
"In the short term, the main focus should be on the oil and gas and mining sectors, and in the medium term — green energy, innovation, and manufacturing sectors. Following international experience and considering current economic forecasts, Kazakhstan has all the opportunities for the successful development of key sectors of the economy"
Earlier in October 2023, the agency improved Kazakhstan's outlook from "stable" to "positive", confirming the sovereign credit rating at the level of "Baa2".
Moody's is one of the top 3 international rating agencies and is engaged in assigning credit ratings, risk analysis, and other analytical studies that track the debt obligations of over 110 sovereign states.
For reference:
The issuer's credit rating is an assessment of the state's creditworthiness, which will increase the level of confidence in Kazakhstan in assessing investment risks, strengthen the country's position in the global economic arena, and reduce the cost of borrowing from international financial organizations.
The issuer's high credit rating also ensures compliance with investment criteria with the standards of ESG or socially responsible investment. This investment principle prioritizes projects that not only bring financial benefits but also contribute to sustainable development in the long term, taking into account environmental, social, and corporate factors.
