Kazakhstan plans to create maximum favorable regime for investors - Nazarbayev

Date: 05:29, 04-05-2014.

Astana. May 4. KazTAG - Kazakhstan plans to create maximum favorable regime for foreign investments attraction, said Nursultan Nazarbayev, President of Kazakhstan.

"The modernization ground for our economy is active work for investments attraction- both foreign and domestic. We plan to create maximum favorable investment climate for this. For this we will adopt a new law this year which will improve investment legislation," he said at the 47th annual session of Asian Development Bank.

"We plan to exempt investors from corporate tax for 10 year, introduce investment subsidies, provide stability of legislation and forecastability of fees, facilitate delivery of foreign labour power," he said.

An institute of investment ombudsman will be created in Kazakhstan.

Since 1997 the GDP increased by 10 times, the average annual GDP growth rate made up about 6%. Kazakhstan entered top five of the most rapidly growing states in 15 years," he said.

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