Kazakh and German Business Forum to Establish Improved Contact with Central Asia
German-Kazakh relations strong despite the war in UkraineOctober 14th, 2022
The forum, organised by the Kazakh Embassy in Germany and Kazakh Invest, was attended by heads of central and local government agencies, national and quasi-state companies, representatives of industry and regional business associations. Also in attendance were heads of leading German companies, including Siemens, Deutsche Bahn, SAP, Becker Mining Systems AG, Knauf, and Wilo. Germany is one of the key partners of Kazakhstan, having invested nearly $5.3 billion into the country since 2005.
Kazakh ministers outlined preferences offered to them at the Astana International Financial Centre (AIFC), including tax exemptions extending to 50 years, simplified currency exchanges, and simplified visa and labour regimes at the forum. Germany and Kazakhstan see the increased importance of cooperation in the food security, energy freedom and supply chain sectors of the economy. Germany also sees Kazakhstan as an important actor in the production of renewable green energy. In addition to its location and logistical advantages, Kazakhstan also has a huge resource and human potential.
The principle of individual support and follow-up with every investor was also introduced. The Council of Foreign Investors operates with the participation of the Head of State, an investment headquarters under the Prime Minister. The Prime Minister now acts as an investment ombudsman.