New Delhi: In a bid to boost trade between India and Kazakhstan, Kazakh-Indian Invest Forum has begun from November 12 till November 14 in the national capital.
Organised by FICCI from Indian side and Kazakhstan Embassy in New Delhi along with “KAZAKH INVEST” National Company, aims to bring over 50 companies from both the countries under one roof.
Kazakhstan delegation is headed by Saparbek Tuyakbayev, Chairman of the Management Board of “KAZAKH INVEST” National Company JSC. The delegation includes the heads of more than 10 leading companies of Kazakhstan.
Meanwhile, Ministry of Commerce and Industry, Ministry of External Affairs of India, the Federation of Indian Chambers of Commerce and Industry will take art in the forum. The Indian side will be also represented by representatives of more than 50 large business companies.
The event will include a plenary session (14 November), and thematic sections with B2B meetings with TNC and large Indian companies (12-13 November). Within the framework of event, the Kazakh entrepreneurs will provide detailed information on investment projects.
The Republic of Kazakhstan ranks 36th in the “Ease of Doing Business 2018” report, confirming its attractiveness to foreign direct investment. A Central Asian frontrunner, Kazakhstan has developed an attractive business environment, providing with the highest level of comfort for flourishing businesses (exemption from VAT up to 10 years, reimbursement of up to 30% of the cost of construction and installation work, exemption from customs duties up to 15 years etc.).
On October 5, 2018 President of Kazakhstan Nursultan Nazarbayev in his State of the Nation Address “Growing welfare of Kazakh citizens: Increase in income and quality of life” mentioned that over the past 20 years, the country has raised $300 billion of direct foreign investment. So Kazakhstan will continue to create conditions for investors.
The volume of foreign direct investments injected in the Kazakh economy rose by 15.4% in six months in 2018; the figure is estimated at $12.3 billion compared to $10.5 billion during the same period in 2017.
Kazakhstan tops Central Asian countries in terms of attracted investments, accounting for more than 70% of all foreign direct investments into the region.
There are countless opportunities for Indian business owners, extending far beyond Kazakhstan borders, and targeting over 500 million consumers in the international markets of the Eurasian Economic Union, Europe, and China.
Relations between India and Kazakhstan was established 26 years ago and develop in the spirit of friendship, partnership and are based on the cultural and historical affinity between the peoples of the two countries.
Kazakhstan has become the main supplier of uranium to India.
In this regard, the outcome of the Business Invest Forum can serve for increasing the trade turnover between the two countries by two or three times (the current Kazakhstan-India trade turnover is about $ 1 billion).