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As stipulated within the decree, the Funding Promotion Council could have the facility to make binding choices on each central and native authorities our bodies and entities within the quasi-public sector. Moreover, the Council is empowered to develop non permanent regulatory authorized acts with the power of legislation, supplementing the federal government’s efforts to create a conducive setting for funding.
Tokayev has constantly demonstrated a proactive method to attracting international funding and strengthening financial ties globally. He usually engages in conferences with buyers, each home and international, notably throughout official visits overseas. A latest instance of such diplomatic engagement occurred throughout the Convention of the Events of the United Nations (UN) Framework Conference on Local weather Change (COP28) in Dubai, the United Arab Emirates (UAE).
In UAE, Tokayev met with UAE Minister of Funding, Mohammed Al-Suwaidi. Throughout their dialogue, they explored potential collaboration on joint initiatives between UAE’s Presight AI Holding and Samruk-Kazyna Sovereign Wealth Fund, in addition to strategic agreements involving QazaqGaz and Kazakhstan Temir Zholy specializing in synthetic intelligence. General, Kazakhstan signed 20 agreements with international corporations value $4.85 billion in inexperienced vitality, infrastructure, and digitization on the sidelines of COP28. The enhancement of the funding coverage displays a key element of Tokayev’s broader financial technique.
In response to the World Funding Report 2023, revealed by the UN Convention on Commerce and Growth, Kazakhstan noticed an 83% enhance in web international direct funding (FDI) flows, reaching $6.1 billion, regardless of a pointy lower in international funding flows in 2022. Kazakhstan is main in attracting FDI amongst post-Soviet Central Asian nations, securing a 61% share.
The Kazakh President’s decree goals to redirect funding into key sectors, notably manufacturing, to make sure the sustainable improvement of the economic system. The measures outlined within the decree are anticipated to streamline decision-making processes, promote accountability, and create a extra favorable funding setting for each home and international buyers.
