ASTANA, Kazakhstan, August 31. A record amount of foreign direct investment totaling $28 billion was attracted to Kazakhstan in 2022, Kazakhstan's Prime Minister Alikhan Smailov said, Trend reports.
According to him, investments in fixed capital grew by 35 percent during the period from 2019 through 2022, reaching a total of 15.1 trillion tenge ($32.7 billion).
Smailov said that the implementation of the Investment Policy Concept until 2026 is currently underway to establish a new investment cycle. Companies operating in priority sectors are granted exemptions from taxes and customs duties, as well as receiving grants, under the investment contracts.
Furthermore, the option to engage in Investment Commitment Agreements was introduced, which guarantee stability in tax legislation.
Starting from 2023, fiscal incentives were introduced for the oil and gas sector to attract additional investments, particularly through enhanced Model Contracts.
PM also added that in effort to relocate various foreign enterprises to Kazakhstan, 35 major foreign companies are already operating in the country, but further work in this direction is needed.
