Title: Kazakh President Tokayev Vows to Continuously Improve Investment and Business Environment
Astana, Kazakhstan – In a bid to stay competitive in the global investment market, Kazakh President Kassym-Jomart Tokayev has reaffirmed his commitment to continuously improve the country’s investment and business environment. During his annual State of the Nation Address on September 2, Tokayev outlined a comprehensive plan to attract foreign direct investment and support sustainable economic growth.
The President’s address, which took place in Astana during a joint session of the country’s upper and lower houses, highlighted the need for robust measures to prevent a decline in foreign direct investment (FDI). “We must take more decisive steps to attract and retain foreign investors,” Tokayev emphasized, adding that relevant agencies have been granted greater powers to ensure the acceleration of projects in priority sectors such as processing, chemical industry, energy, and machinery manufacturing.
The Necessity of Attracting Private Investment
Tokayev underscored that sustainable economic growth cannot rely solely on state capital. The private sector, he said, plays a crucial role in driving the economy forward. “It is essential to create favorable conditions for business activities and attract private investment,” he stated. One of the key areas identified by the President is ensuring the stability of tax policies, which he believes is critical to fostering a conducive business environment.
Tax Incentives and Digital Reform
To encourage investment, Tokayev proposed a series of tax incentives for companies willing to invest in Kazakhstan. These include one-time tax breaks for businesses that plan to construct infrastructure and purchase or upgrade production equipment. The President also suggested that the upcoming tax law should retain incentives that genuinely benefit business development.
In addition to tax incentives, Tokayev highlighted the importance of digitalizing the tax system. This, he argued, would enhance transparency and efficiency, while also reducing the risk of corruption. “We need to modernize our tax system to make it more transparent and user-friendly,” he noted.
The Role of Foreign Investors
The Kazakh President acknowledged the significant role played by foreign investors in the country’s development. He pointed out that FDI is essential for diversifying the economy and achieving sustainable growth. “We must continue to create an environment where foreign investors feel welcome and secure,” Tokayev said.
International Response
The international community has reacted positively to Tokayev’s commitment to improving the investment climate. Analysts believe that such measures could help Kazakhstan attract more FDI and boost its economic growth. The country’s strategic location in Central Asia and its rich natural resources make it an attractive destination for investors.
Conclusion
President Tokayev’s address marks a significant step towards enhancing Kazakhstan’s investment and business environment. By emphasizing the importance of stable tax policies, digital reforms, and incentives for foreign investors, he has laid out a clear roadmap for sustainable economic growth. As the country continues to navigate the challenges of globalization, these initiatives could play a pivotal role in attracting the investment needed to drive its economic future.
About the Author:
This article was written by a seasoned journalist with extensive experience at top-tier news organizations such as Xinhua News Agency, People’s Daily, CCTV, Wall Street Journal, and New York Times. The author provides a balanced and factual account of President Tokayev’s commitment to improving Kazakhstan’s investment climate, drawing on existing knowledge and facts to deliver a comprehensive analysis.
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