KAZAKH INVEST held a webinar dedicated to the exchange of experience in investment attraction between the Republic of Turkey and the Republic of Kazakhstan
On 20 May 2020, for the first time KAZAKH INVEST and the Residency of the Republic of Turkey Investment Office conducted a joint webinar in order to establish a framework for mutually beneficial cooperation and enhance efficiency of mutual investment promotion activities.
The webinar was attended by the Ambassador of the Republic of Kazakhstan to Turkey Mr. Abzal Saparbekuly, the Vice President of the Residency of the Republic of Turkey Investment Office Mr. Ahmet İhsan Erdem, the CEO of KAZAKH INVEST Mr. Baurzhan Sartbayev as well as the department haeds and employees of both investment promotion agencies (IPAs).
During the opening session, the management of both companies noted the friendly relations of the Kazakh and Turkish peoples as well as active interaction of the countries in the political, trade, economic, cultural and humanitarian spheres, and shared information on the main areas of the companies' activities, achievements, results and plans for future.
During the welcoming speech, Mr. Ahmet Ihsan emphasised the need to develop an effective investment promotion strategy. Thus, the strategy of the Republic of Turkey is based on three main pillars: assessing the country's need for investment, identifying priority sectors of the economy that require investment to meet the country's needs, and developing a strategy for investment attraction. Thanks to active measures for investment attraction along with the reforms and introduction of incentive schemes since 2003, Turkey has attracted $217 billion of investments with the assistance of the Agency.
The CEO of KAZAKH INVEST Baurzhan Sartbayev supported the need for measures to improve the country's investment climate and noted that during this difficult time it was extremely important to to ensure maximum efforts in order to help projects succeed. Thanks to the efforts undertaken by the Government of the country, since 1992, Kazakhstan has attracted $340 billion of foreign direct investment. With the established three-tier system of investors' support and active assistance of KAZAKH INVEST, foreign investors can obtain a full range of services to support projects from initiation to the commissioning stage.
During the next four sessions of the webinar, the representatives of both IPAs presented and discussed the issues of setting short-term and long-term objectives, priority sectors of the economies, investment promotion measures, methods of investor targeting, organisation of visits, role of foreign representative offices, a range of services provided to investors as well as post-investment service support for investors.
At the end of each session, participants of the webinar had an opportunity to ask the relevant questions and discuss the peculiarities of working with foreign investors, including in the focus on the priority sectors, the regions' specifics, possible risks and forecasts for various areas.
In addition, during the webinar, the parties voiced the priorities reflecting the current vision of the two countries' interaction, taking into account the current geopolitical realities as well as the challenges and needs resulting from the global fight against the coronavirus pandemic. Based on the results of the online meeting, the parties decided to consider the possibility of deepening relations and signing a Memorandum of Cooperation during the first official visit at a high level.