Economic Liberalization Crucial for Investment in Kazakhstan, Entrepreneur Suggests
London Expertise CEO Afzal Amin emphasized the need for Kazakhstan to continue to liberalize its economy in order to attract and retain foreign investment. Amin, who has invested more than $1 million in Kazakhstan over the past eight years, spoke about the importance of infrastructure projects in the country. He praised Kazakhstan’s progress in attracting foreign investment, particularly in the oil and gas sector, and commended the government’s efforts to liberalize the economy.
However, Amin also pointed out some challenges that Kazakhstan faces when it comes to investment activities. He highlighted the high turnover of government officials at the ministry level as a barrier to fully realizing the country’s potential. Amin stressed the need for Kazakhstan to introduce new developments, particularly in non-oil and gas sectors that can drive sustainable long-term growth.
He also emphasized the critical role of minerals and agriculture in Kazakhstan’s economy. Amin noted the country’s potential in these sectors and the importance of market-driven initiatives in making new mineral discoveries. He also highlighted Kazakhstan’s goal to increase agricultural productivity and double its exports, as announced by President Kassym-Jomart Tokayev. Additionally, Amin addressed the water supply issue for agricultural needs in Central Asia, emphasizing the need for better water management systems.
During the Kazakhstan Global Investment Roundtable, Amin suggested that Kazakh authorities shift their focus from innovations and legislation to talent attraction, with the aim of promoting sustainable regional growth. Ultimately, continuing to liberalize the economy and focusing on non-oil and gas sectors could further enhance Kazakhstan’s attractiveness to foreign investors and drive long-term economic growth.
