General Information about Foreign
Investors Council
Chaired by the President of the
The Foreign Investors'
Council (FIC) Chaired by the President of the Republic of Kazakhstan was
established by the Order of the Head of State #3985 dated 30 June, 1998, to
provide direct dialogue with investors, working in Kazakhstan, and to
efficiently address the key issues related to investment activities.
The Council is a
consultative-advisory body. The FIC is chaired by the President of the
The Republic of Kazakhstan is represented in the Council by the Prime Minister,
Chairman of the National Bank, the Minister of Foreign Affairs, Minister of
Industry and Trade, Minister of finance, Minister of Economy and Budget
Planning and the Chairman of the Committee on Investments of the Ministry of
Industry and Trade and the Chairman of Inter-Departmental Commission on
Consideration of Foreign Investors' Appeals according to their relative
positions.
The foreign party is represented in the Council by a number of top
managers of international financial organizations and foreign companies.
Representatives of
companies and organizations, which are not members of the Council, can be
invited to the Council sessions.
The FIC comprises five
joint working groups - on taxation, legislation, operations of foreign investors, investment image enhancement of the Republic
of Kazakhstan, and oil and gas sector issues of the Republic of
Kazakhstan.
The Committee on
Investments of the Ministry of Industry and Trade of the
The Sessions of the
Council are conducted once or twice a year. Since its foundation, thirteen
plenary sessions under the chairmanship of the Head of State have been held:
September 25, 1998; June 2, 1999; December 3, 1999; December 8, 2000; June 13, 2001; December 15, 2001; July 05, 2002; December 06, 2002; July 05, 2003; December 06, 2003; June 04, 2004; December 10, 2004; and June 17, 2005.
In addition, interim
sessions of the Council are conducted on a regular basis, and working group
meetings are organized. Upon the results of the plenary and interim sessions of
the Council, protocol decisions are made on enhancement of the investment
climate in the
The major objectives of the Foreign
Investors Council Chaired by the President of the
1.
To submit to the President of the
2.
To draft recommendations for the improvement of
the investment climate, and also for the strategy to attract foreign
investments into the economy of the
3.
To develop proposals on the integration of the
country's economy into global economic processes.
At the Sessions of the Council, a wide
range of issues is discussed, including the following:
- Enhancement of the investment
image of the
- Judicial reform of the
- Enhancement of taxation and tax
administration system;
- Promotion of transparency of
legislation drafting process;
- Licensing of foreign labor
import;
- Preventing of conflicts and
extrajudicial resolutions of investment disputable issues;
- Coordination of tariff policy
with the neighboring counties and transport tariffs;
- Simplification of procedures on
departure and arrival of managing board of foreign companies;
- Combating bureaucracy and
corruption;
- Insurance of investments from
political and regulatory risks.
Foreign
Membership of Foreign Investors Council Chaired by the President of the
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