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The conference was attended by the heads of major Saudi companies operating on a global level.
In his speech, the President said that Saudi Arabia is one of our main partners in the Middle East.
Nursultan Nazarbayev said it is now possible to significantly increase the amount of trade between the two countries, which reached $16.3 million at the end of 2015. To date, Kazakhstan has 17 companies with Saudi participation, he said.
The President of Kazakhstan emphasized future trends in economic cooperation between the two countries, including the mining and metal sector, petrochemical industry, agriculture, finance, Islamic banking, and the nuclear industry.
Furthermore, the President pointed out that both Kazakhstan and Saudi Arabia are rich in resources.
– But we are implementing reforms to diversify our economy. Kazakhstan’s strategic goal is to be included among the 30 developed countries of the world. The President of Kazakhstan said that the main way to achieve this goal is to promote business activity in the country and create the most favorable conditions for doing business and attracting investments.
Nursultan Nazarbayev mentioned the systematic measures taken in Kazakhstan to improve the business and investment environment.
– Kazakhstan turns 41cent According to the World Bank’s Ease of Doing Business. Administrative barriers to business development are minimal. Currently, Kazakhstan has 10 special economic zones, which have a liberal tax system, he said.
The President of Kazakhstan invited Saudi businessmen to fully participate in the implementation of the industrial innovative development program.
– Meanwhile, Kazakhstan is ready to provide all-round support. For example, investors will be exempted from corporate and land use taxes for 10 years and property taxes for eight years, Nursultan Nazarbayev said.
The head of state also noted that, in the meantime, there are moves to privatize large-scale state assets in the country.
– Approximately 800 state-owned enterprises with a total value of $10 billion will be put up for bid to move into a competitive environment. The list includes assets in the mining and metallurgical industry, oil refining, energy, transportation and communications, and infrastructure. Kazakhstan’s president said he supports Saudi companies participating in the ongoing privatization.
In addition, Nursultan Nazarbayev also mentioned the activities of the “Astana” International Financial Center and the upcoming “EXPO-2017: Energy of the Future” international trade fair.
In response, the leaders of the Saudi business structure thanked the President for the favorable investment climate established in Kazakhstan and were ready to strengthen cooperation, especially in the fields of agriculture, oil refining, metallurgy and nuclear energy. It was announced that there is.
In conclusion, the President of Kazakhstan expressed confidence in the development of possibilities and prospects for a win-win partnership and wished every success to Saudi business professionals.
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