The Ministry of Industry and Infrastructure Development of Kazakhstan in the framework of the event "Mining in Kazakhstan: Road Show 2020" on February 27 in London presented to potential investors the investment opportunities of the mining industry of the country.
The event was organized at the site of the famous British trade organization British Expertise International with the support of the Embassy of Kazakhstan in the UK and is dedicated to the development of mutually beneficial cooperation with British companies on promising investment projects of the republic.
At the event, potential investors are presented with information on the latest trends in the Kazakhstan subsoil use industry, on legislative reform and investment opportunities. The speakers at the event were Idrisov Erlan, Ambassador of the Republic of Kazakhstan to the UK, Ruslan Baimishev, Vice Minister of Industry and Infrastructure Development of the Republic of Kazakhstan, Kanat Kudaibergen, Chairman of Tau-Ken Samruk JSC and representatives of the business community of Kazakhstan.
Speakers spoke about the prospects of the Kazakhstani market, new opportunities for investors, improvements and innovations in the mining industry, as well as the successes of introducing innovative technologies in geological exploration of Kazakhstan.
So, Vice-Minister Baimishev Ruslan spoke about the main initiatives of the Ministry aimed at improving the investment climate of the mining industry, as well as about the main innovations of the Code "On Subsoil and Subsoil Use".
“In 2018, the new Code of the Republic of Kazakhstan “On Subsoil and Subsoil Use” came into force, which fully complies with the best world practice - the West Australian model. The principle of the first application has been introduced, the CRIRSCO international reserve estimation system, open access to geological information has been provided, and clear and transparent state regulation mechanisms have been adopted. According to the results of the work carried out Kazakhstan on investment attractiveness of subsoil use in the ranking of the Fraser Institute rose to 24th place from 73 (to 49 positions).
In the DoingBusiness ranking of the World Bank, Kazakhstan confidently takes 25th place among 190 countries of the world. Such global brands as Rio Tinto, Glencore, Illuka, Polymetal and others are already successfully operating in the sector. This is an indication that our investment climate complies with international requirements,” - noted R. Baimishev.
Ms. Rose Land, a spokeswoman for the UK Department for International Trade, said: “I think Kazakhstan is becoming an increasingly attractive country for international investors. A new code in the mining sector, a new environmental code, which is expected to be adopted in the near future, the operation of CRIRSCO standards and the Extractive Industries Transparency Initiative make Kazakhstan an attractive state for business.”
British companies warmly accepted the ongoing reforms in Kazakhstan and expressed interest in expanding and deepening cooperation in the geological and mining industries. They also expressed their willingness to participate in the full realization of Kazakhstan's potential in this area.