Kazakhstan invites foreign investment in agro-industrial sector

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Times of Central Asia | 5 July 2018 

Kazakhstan invites foreign investment in agro-industrial sector
 
ASTANA (TCA) — The agro-industrial sector of Kazakhstan is a promising platform for attracting foreign investments, Deputy Prime Minister and Minister of Agriculture Umirzak Shukeyev said at the round table “Agro-industry: ensuring food security on the new Silk Road”, held as part of the Kazakhstan Global Investment Roundtable in Astana on July 3, Kazakh Invest National Company for Investment Support and Promotion reported.
 
He spoke about the main advantages of investing in the agro-industrial complex of Kazakhstan.
 
Firstly, it is the availability of natural pastures — 180 million hectares, which are currently used at only 25-30%.
 
Secondly, it is the availability of labor resources, since 45% of Kazakhstan’s population lives in rural areas.
 
Thirdly, to support investment activities, the Government of Kazakhstan has developed a special tax and customs regime, including exemption from corporate tax for a period of up to 10 years, exemption from property tax for up to 8 years, exemption from customs duties on imported equipment and raw materials.
 
Fourthly, it is the possibility of producing organic products, which has an increased cost and is in demand on world markets. This advantage is due, above all, to the historically low level of the use of mineral fertilizers, pesticides and herbicides in Kazakhstan.
 
“We have developed a regulatory framework for the creation of a full-fledged organic production system in Kazakhstan — a law and all by-laws have been developed, at the moment, work is under way to create a certification system, as well as training farmers,” said Shukeyev.
 
The vice-premier emphasized that Kazakhstan has developed a state program for the development of the agro-industrial complex of Kazakhstan for 2017-2021, mechanisms of which are available to both Kazakhstani and foreign investors.
 
“In addition to the State Program of the Agro-Industrial Complex, a number of other government programs are being implemented in Kazakhstan aimed at infrastructure development of projects, including the Business Roadmap 2020 program, the state program for infrastructure development of Nurly Zhol, and the program for industrial and innovative development, which is the creation of new export-oriented high-tech industries,” said the Agriculture Minister.
 
He also spoke about export opportunities for investors.
 
“Kazakhstan is located in the heart of Eurasia, between Europe and China. Due to its location, a number of large infrastructure projects are being developed in Kazakhstan: the dry port of Khorgos on the border with China, the Aktau port on the Caspian Sea, the international transit corridor Western Europe - Western China. Moreover, Kazakhstan’s accession to the Eurasian Economic Union with a market capacity of about 180 million people opens additional opportunities for investors to effectively implement investment projects on the territory of Kazakhstan. Investors can freely promote their products to the markets of Russia, Belarus, Kyrgyzstan and Armenia,” Shukeyev concluded.
Original source: Times of Central Asia
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