Transformation of the National Company “Kazakh Invest”

Abstract

Over 30 years, the Republic of Kazakhstan has attracted more than 431 billion dollars of foreign investment in various sectors of the economy. The country has set an ambitious goal of increasing GDP to 450 billion dollars by 2029. To achieve this goal and boost economic growth, it is necessary to use both administrative and economic resources, including attracting foreign investment. Kazakhstan positions itself as a leader in attracting investment in Central Asia and in attracting foreign direct investment per capita in the CIS. To further improve the investment climate, Kazakhstan needs to improve the regulatory framework and economic policy (taxation, insurance, banking, etc.), reduce the level of corruption, and improve the work of quasi-governmental and state bodies. The national company "Kazakh Invest" is one of the links in the process of attracting foreign investment in the country. The mission of "Kazakh Invest" is to support the sustainable development of Kazakhstan by attracting foreign investment in key sectors of the economy, as well as supporting investment projects. In the future, the company wants to become a leading organization attracting foreign investment not only in Central Asia but also among companies in countries with transition economies. The purpose of the article is to analyze the strategic changes taking place in the company and the impact of these changes on the investment climate countries. The work used data analysis methods, comparative-historical methods, comparative analysis, and system analysis. As a result of the study, conclusions were made about the need for transformation and change of status from the national company "Kazakh Invest" to the agency "Kazakh Invest". The change of status will allow "Kazakh Invest" to promptly solve the current problems of investors, develop the necessary regulations, and better interact with all participants in the investment market, including central and regional government bodies, quasi-state companies, potential investors, large transnational companies, and domestic manufacturers.