Article Highlights: "Foreign Investment and Exports — Key Drivers of Kazakhstan’s Growth"

By Ye.S. Iskaliyev, Chairman of the Board of SK-Pharmacia LLP

The Head of State attaches particular importance to attracting direct investment into the country, stressing the importance of building an effective system for its "landing."
Over the years of independence, Kazakhstan has carried out extensive work in the investment sphere. In the early decades of sovereignty, the republic actively welcomed proposals from foreign investors to invest in promising new projects. During its formative years, Kazakhstan needed outside support, and the inflow of foreign investment was able to promote the steady development of the country's economy and even, to some extent, become a driver of growth.

It should be noted that in recent years Kazakhstan has demonstrated strong investment potential, leading among CIS countries, as considerable attention has been paid to creating a favourable business climate for investors. This includes reducing administrative barriers, simplifying procedures, and improving customs and tax administration. Kazakhstan has achieved significant success in attracting foreign investment, which has played an important role in developing our country's economy as a whole.

Today, Kazakhstan offers new opportunities and enormous potential for profitable investment. Our republic occupies a strategically important location, has a favourable business environment, protection of investor rights, and investment incentives.

One of the main tasks the government is currently working on is attracting investment to implement the industrialisation programme. Foreign investment should bring not only capital but also business culture.

Over the past few years, due to a worsening global economic climate, the world economy has seen a decline in foreign direct investment (FDI) flows. At the same time, developing countries feel the need to attract investment and diversify and transform their economic structures more acutely than ever. Almost all new industrial strategies being pursued around the world depend heavily on attracting investment. Demand for investment remains higher than ever, while supply is shrinking. As a result, the investment market is becoming increasingly complex and competitive.

Attracting foreign direct investment has the strongest impact on emerging markets such as Kazakhstan's. The dynamics of investment activity and the volume of foreign capital inflows directly affect the resolution of socio-economic tasks related to raising living standards and the country's competitiveness on the global stage. This is why stimulating this segment is carried out at the state level, especially in countries with developing economies. And bringing global market players onto the domestic market has an amplified effect.

Today Kazakhstan has a number of priority areas for development. One of them is pharmaceuticals. According to experts' estimates, Kazakhstan has the potential to double capacity in the pharmaceutical industry.

Read more about Kazakhstan's investment appeal, attracting global players to the market, competition for investment, and the pharmaceutical industry and the role of the Single Distributor in the article "Foreign Investment and Exports — Key Drivers of Kazakhstan's Growth" at this link: https://sk-pharmacy.kz/rus/press-centr/smi_o_nas/vneshnie-investiczii-i-eksport-osnovnyie-drajveryi-rosta-kazaxstana

Source: sk-pharmacy.kz