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Czech Invest and KAZAKH INVEST shared best practices in attracting investments

Czech Invest and KAZAKH INVEST shared best practices in attracting investments

KAZAKH INVEST and the Czech Investment Promotion Agency Czech Invest held a joint online webinar on sharing experiences in attracting domestic and foreign investments.

The First Secretary of the Embassy of the Republic of Kazakhstan to the Czech Republic, representatives of the Ministry of Industry and Trade of the Czech Republic, as well as representatives of Czech Invest and KAZAKH INVEST took part in the online webinar.

Director of the Department of International Economic Policy of the Ministry of Industry and Trade of the Czech Republic Martin Pospisil noted in his welcome speech that the Republic of Kazakhstan has great potential to attract large investors to various sectors of the economy. In addition, the country is one of the strategic partners of the Czech Republic in Central Asia.

“I believe that between our countries a number of unrealized opportunities for cooperation in various fields of activity. In my opinion, there is also great potential in the implementation of Czech-Kazakh projects” - added Martin Pospisil.

At the same time, the need to strengthen partnerships between the countries and the great potential for further cooperation, especially in agriculture and mechanical engineering industries, noted by the Chairman of the Board of "KAZAKH INVEST" National Company" JSC Baurzhan Sartbaev.

“In the new reality, KAZAKH INVEST elaborates on various innovations in the field of attracting investments, including the sharing experiences with leading world investment attraction agencies while almost the whole world is quarantined. Now we are faced with the task of an early exit from the crisis, and certain works have achieved results. A number of projects with foreign investors participation in Kazakhstan continued construction and installation works. Most of them plan to implement projects on time” - said Baurzhan Sartbaev.

Chairman of the Board of Czech Invest Patrik Reichl shared the main activities of the company, in particular, assisting in the implementation of investment projects, providing advice to foreign investors to enter the Czech market, implementing state investment policies, managing a database of commercial real estate, as well as intervention in liaison with state and local authorities. In addition, the agency helps not only to connect with research development partners but also helps to first-time entrepreneurs to develop their innovative start-ups through their own programs.

During the online webinar, experts from both companies shared their experiences and discussed industry priorities, the life cycle of investment projects, general and industry events to promote investments, targeting investors, service support for existing investors, and measures taken by agencies in connection with the distribution of COVID-19.

Based on online meeting results, it was decided to deepen the strategic partnership between the agencies and maintain the sharing of best practices to increase efficiency in the implementation of common activities to attract investment.

Informational: Investment Promotion Agency "Czech Invest" was established in 1992. The activities of the Agency are supported by the Government of the Czech Republic and funded by the Ministry of Industry and Trade. The agency attracts both domestic and foreign investments in the aerospace industry, electrical engineering and electronics, information and communications technology, mechanical engineering, nanotechnology and new materials, research and development, biomedical developments, etc. The Agency's portfolio includes 1,916 approved projects with providing of 293.2 thousand workplaces. The projected amount of attracted foreign direct investment amounted to $ 43.5 billion.

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