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Foreign Minister explains slowdown in FDI inflows

15 July 2019 14:10

NUR-SULTAN. KAZINFORM Kazakhstan observes slowdown in the inflow of direct foreign investments. President Kassym-Jomart Tokayev said it today at the Government’s extended meeting, Kazinform reports.

«This year we have observed slowdown in the inflows of direct foreign investments by 11.5%.This slowdown is seen almost in all the sectors,» he said addressing Foreign Minister Beibut Atamkulov.

«Many countries including the U.S., China, the EU withdraw their investments from friendly countries. Competition among the countries intensifies. There are some internal problems. The Government has established a coordination council chaired by the Prime Minister. We have already had two sessions. The main issue is the judicial system, its transparency and fairness, tax system, its reliability and stability. Our migration policy should be slightly liberalized,» Minister Beibut Atamkulov replied.

«We observe decrease in transit. We have lost a lot due to transit through Iran. Caspian transit routes rise in prices as well,» noted the Minister and added that «domestic investors can become a decisive and a strong component of investing in Kazakhstan.»