Abstracts of the article "Foreign investments and exports - the main drivers of growth in Kazakhstan"
Author: E.S. Iskaliyev Chairman of the Board of SK-Pharmacy LLP
The head of state attaches particular importance to attracting direct investment to the country, noting the importance of building an effective system for their “landing”.
During the years of Independence, a lot of work has been done in the investment sphere in Kazakhstan. In the first decades of sovereignty, the republic actively accepted proposals from foreign investors to invest in new promising projects. During the formative years, Kazakhstan needed external support, and it was the influx of foreign investment that could contribute to the systematic development of the country's economy and, even to some extent, become a growth driver.
It should be noted that in recent years Kazakhstan has demonstrated a high investment potential, being a leader among the CIS, as much attention is paid to creating a favorable business climate for investors. This includes the reduction of administrative barriers, the simplification of procedures, and the improvement of customs and tax administration. Kazakhstan has made significant progress in attracting foreign investment, which has played an important role in the development of the economy of our country as a whole.
Today, Kazakhstan means new opportunities and huge potential for profitable investments. Our republic occupies a strategically important location, has a favorable environment for doing business, protection of the rights of investors and investment incentives.
One of the main tasks the government is currently working on is attracting investments for the implementation of the industrialization program. Foreign investment should bring not only capital, but also business culture.
Over the past few years, due to the deterioration of the global economic climate, the world economy has experienced a reduction in foreign direct investment (FDI) flows. At the same time, in developing countries, the need to attract investment, diversify and structurally transform the economy is more acute than ever. Virtually all new industrial strategies carried out in the world depend to a large extent on attracting investment. The demand for investment remains higher than ever, while the supply is shrinking. Because of this, the investment market is becoming increasingly complex and competitive.
Attracting foreign direct investment has the strongest impact on Kazakhstan's emerging markets. The dynamics of investment activity, the volume of foreign capital inflow directly affect the solution of socio-economic problems associated with the growth of living standards of the population, as well as the country's competitiveness in the global arena. That is why the stimulation of this segment is carried out at the state level, especially in countries with developing economies. And attracting global players to the domestic market gives an enhanced effect.
Today in Kazakhstan there are a number of priority areas for development. One of them is pharmaceuticals. According to experts, Kazakhstan has the potential to double the capacity in the pharmaceutical industry.
For more information about the investment attractiveness of Kazakhstan, attracting global players to the market, competition for investment, as well as the pharmaceutical industry and the role of the Single Distributor, read the material "Foreign Investments and Exports - the Main 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