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Nur-Sultan - Kazakhstan
6 June 2018
Participation in the 31st plenary meeting of Foreign Investors Council
Astana, Palace of Independence

The meeting discussed issues of digital transformation, application of new technologies, as well as prospects for further economic growth.

Opening the meeting, Nursultan Nazarbayev separately focused on the results of the Foreign Investors Council's activity aimed at improving the business climate in Kazakhstan and supporting the national economy.

Having heard the reports of the plenary session participants, the Head of State described Kazakhstan's measures to ensure stability of the national economy in the face of global challenges.

- At present we stand witness and are partakers of quick sea change and complications connected with them. For coping with them, I set the task of Third Modernization a year ago. Macroeconomic stability is ensured and the business climate is improving, the President of Kazakhstan said.

Nursultan Nazarbayev noted a number of activity directions as part of further modernization and enhancement of the country's competitiveness.

- First. This is an improvement in the regulatory environment. The new Code on Subsoil and Subsoil Use, the Tax and Customs Codes have come into force. A package of legislative amendments on business regulation has been adopted. OECD standards are applied in all directions, the Head of State said.

The President of Kazakhstan stressed that special attention should be paid to ensuring the rule of law and improving the quality of public administration.

- Second. This is the economic diversification and introduction of new technologies. Over 1200 new enterprises were introduced in the framework of industrialization in the country. Investment and export strategies are being implemented, Nursultan Nazarbayev said.

In addition, the Head of State pointed to the importance of implementing major projects with transnational corporations, development of agrarian science, technology transfer, and support for high growth rates in construction.

As a third priority, the President of Kazakhstan noted the need to modernize infrastructure.

- We are forming the Eurasian multimodal transit and transport hub. The Nurly Zhol implemented infrastructure program aims to strengthen Eurasian integration and interface with China's Belt and Road Initiative. On July 5, there is a presentation of Astana International Financial Centre. AIFC should become the core of Kazakhstan's financial infrastructure and hub for the entire Central Asian region, Nursultan Nazarbayev said.

The Head of State dwelled in detail on the process of digitalizing economic sectors in regions and across the country.

- Fourth is digitalization. We have launched Digital Kazakhstan state program. We need to introduce digital technologies at enterprises of our basic industries, agribusiness, transport and other spheres, the President of Kazakhstan emphasized.

 Nursultan Nazarbayev has also noted the need for further development of human capital, stressing the importance of transforming the education system.

- Fifth is human capital development. The education system should get transformed taking into account the economic modernization and digitalization. In this regard, I propose the topic of the next meeting as Human Capital Development, the Head of State summed up.

At the end of his speech, the President of Kazakhstan mentioned the importance of joint effective work to modernize Kazakhstan’s economy.

Nursultan Nazarbayev has also instructed the Government to consider and take into account all the recommendations of the working groups of Foreign Investors Council and the proposals of the speakers, voiced during today's meeting.

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