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National Digital Investment Platform will be Launched in Kazakhstan

Within the conference “Financial institutions for development and sustainable infrastructure: operational models and methods” (46th ADFIAP Annual Meeting), the Memorandum of Mutual Cooperation in launching the National Digital Investment Platform was signed between the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan, the Eurasian Development Bank and National Information Technologies JSC.

This agreement was signed by Chairman of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan Ardak Zebeshev, Deputy Chairman of the Eurasian Development Bank Ruslan Dalenov and Acting Deputy Chairman of the Board of National Information Technologies JSC Sarmat Utigaliev.

According to the forecasts of the Boston Consulting Group, the potential of the Central Asian region to attract foreign direct investment (FDI) is estimated at up to 170 billion US dollars over the next 10 years, of which about 100 billion US dollars to Kazakhstan. Now, Kazakhstan is an investment magnet in the region and, given the geopolitical challenges and turbulence of the global economic situation, the launch of a single domestic investment platform will be especially relevant.

The structure of the national digital investment platform will involve the Foreign Ministry, Kazakh Invest national company, domestic development institutions and funds, companies of the quasi-sector, the central state and local executive bodies.

As Zebeshev noted: “The National Digital Investment Platform will become a kind of ‘roadmap’ for attracting (onboarding) investor companies. On the basis of the platform, the principle of ‘one window’ will be implemented in terms of integrating consulting and information services for projects and investors. Integral information panels (dashboards) will serve as an effective tool for monitoring investment activity in the country and will increase the quality of interaction between participants in the investment process. We expect that due to digitalization, the implementation time of investment projects will be significantly reduced. Then topical issues of investors arising during the implementation of projects will be submitted to the meetings of the Investment Headquarters under the chairmanship of the Prime Minister of the Republic of Kazakhstan.”

The technological process of the National Investment Platform will be aimed at implementing the state policy on attracting investments. As a result of its implementation with a unified database on the parameters and status of investment projects, the data exchange process will be accelerated, the process of storing data and documents will be simplified, and the quality of investment project development will be improved.

In general, it is expected that the platform will help attract additional FDI flows to the country by providing optimal ways to implement investment projects in Kazakhstan.