Kazakhstan eyes more gains with China

China is an important economic and trade partner of Kazakhstan and among its top four investors; China's direct investment in Kazakhstan has exceeded $23 billion, said Sultan Kinzhakulov, commercial counselor of the Kazakh embassy in China.

Kinzhakulov made the remarks at the second Liangma Silk Road International Lecture Hall on March 15, which was jointly organized by the China International Youth Exchange Center (CIYEC), the Embassy of the Republic of Kazakhstan in China, and KAZAKH INVEST National Company.

Hailing the continuous improvement of their bilateral relationship since the two countries established diplomatic ties 30 years ago, he expressed the hope that young entrepreneurs of the two countries will work together to extend cooperation in a pragmatic fashion and inject new impetus into the development of China-Kazakhstan relations.

China and Kazakhstan, among the first countries to jointly pursue cooperation in terms of the Belt and Road Initiative, have implemented a series of projects of strategic significance, bringing benefits to the two peoples and setting a good example for the international community.

China is a major investor in oil- and metals-rich Kazakhstan and is one of the main markets for its commodity-dominated exports. Kazakhstan also makes money from Chinese goods carried across its territory to Europe.

Kuanysh Amantay, general representative in China of KAZAKH INVEST National Company, explained the preferential policy for investment in Kazakhstan, and outlined the business environment of Kazakhstan in terms of strategic location, investor protection, and investment incentives.

In Kazakhstan, foreign investors are treated as local ones. In addition to the industrial projects in the priority areas listed by the government, projects exceeding $15 million are allowed to receive preferential policies of income tax, land tax and asset tax, according to Amantay.

To date, Kazakhstan has attracted $350 billion in international direct investment, he said, adding that he hopes Chinese and Kazakh enterprises will expand and deepen cooperation in petrochemicals, agriculture and logistics. Amantay also encouraged young Chinese entrepreneurs to take a more active part in the bilateral cooperation.

The event attracted more than 60 young entrepreneurs from China and Kazakhstan. Kazakhstan's advantages in geographical location, resources and investment policies aroused deep interest among the participants, who exchanged views with Amantay on cooperation in logistics, animal husbandry, agriculture, petrochemicals, e-commerce, high-tech and other fields.