Kazakhstan, British companies ink agreements
By Abdul Kerimkhanov
Kazakhstan has entered into a number of agreements with British companies in the areas of transport and logistics, metallurgy, energy, agriculture, engineering, as well as in the field of developing the healthcare system infrastructure.
Kazakhstan Global Investment Forum 2018 took place in London on October 2. Over 150 business representatives took part in the event. The Kazakh delegation was headed by Deputy Prime Minister Askar Zhumagaliyev.
The forum was devoted to new opportunities in the field of business and investment, as well as the prospects of Kazakh-British projects in the fastest growing sectors of the economy of the republic.
The main topics were innovations in improving the investment climate of the country, including tax and customs benefits, the privatization program of state assets, the favorable geographical position of Kazakhstan at the crossroads of Europe and Asia, participation in the Chinese initiative “One Belt, One Road” and functioning of the International Finance Center “Astana”, where the rules of English law are in force.
AIFC manager Kairat Kelimbetov devoted his speech to opportunities opening up for investors. He said that the center provides its members with a special tax regime of up to 50 years, guarantees an independent system of dispute resolution based on English common law.
“The launch of the AIFC this year will also transform Astana into a regional financial center that will further advance your business to new heights,” the head of the center said.
United Kingdom Trade Envoy to the Republic of Kazakhstan Emma Nicholson, President of the European Bank for Reconstruction and Development Suma Chakrabarti, Chief Executive Officer of UK Export Finance Louys Tylor, EBRD Director in Kazakhstan Agris Preimanis, and others also addressed the event.
The Samruk-Kazyna National Welfare Fund and the EBRD signed an agreement on the provision of a guarantee to the loan agreement between ShalkiyaZinc LTD and the EBRD. The Fund has acted as a guarantor of obligations to finance the construction of a concentrator at the Shalkiya deposit in the Kyzylorda region.
The bilateral trade turnover between Kazakhstan and the United Kingdom in 2017 increased by 1.5 percent and amounted to $ 1.28 billion. For the first quarter of 2018, the total turnover of mutual trade totaled $ 252.6 million, exports and imports amounted to $ 158.8 million and $ 93.8 million, respectively. More than 800 legal entities, branches and representative offices with British participation are registered in Kazakhstan.
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