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| 89 page |

investors 2012

contents

12





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Total





KNAUF
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18

12

18

22

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24
GR club

30

34

36

38

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:


36

40

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46

110

54

English version
64

70

30

76

80

| 89 page |

www.InvestKz.com

l 2012#2l

82
77
41
80
82
41, 47
74
47, 55
86
58
44
30
56
44
36
27
56
82
8081
71
13, 48, 65, 85
77
82
44
5556
25
47
8182
28
34
40
40
24
41
31, 34, 37, 65
44
81
68
22
4344
29
38
77
7475
77
42, 44, 47
82
18
50
41
68
26
47
7273
81
34
79

Kazakhstan

Advantix Ltd
40
Akmola Gold
50, 77
Alageum Electric
68
Allianz Kazakhstan
77
Altius Holdings Inc
77
Aman Munai Exploration BVBA
77
Aubert & Duval
18
BASF 34
BG Group Plc
77
BHP Billiton Ltd
52
BMB Munai Inc
77
Cameco
44, 52
CCEL 60
Central Asia Gold AB
77
Central Asia Metals plc.
44
Chevron Corporation
77
CNPC 56
Conwell Oil Corporation BV
77
Coville Intercorp Ltd
77
EAST INDUSTRY COMPANY Ltd
68
Eni S.p.A.
77
ENRC
50, 77
ENRC Kazakhstan
41, 47
Fitch Ratings
12
Fortis Mining
77
Frontier Mining Ltd
44, 77
Gaffney, Cline & Associates
60
GPW 4748
Hambledon Mining Plc
44, 50, 77
HELMES Operation UK Limited
79
HYNDAI 18
INSG 52
Kazakhmys
50, 77
KAZNEX INVEST
14, 27
KazWeld 31
GOC 66
Korea National Oil Corporation
77
KPMG 15
PO 56
Lanxess AG
18
Logistic Investment S.A.R.L.
79
Meridian Capital
79
MIE Holdings
77
Moodys 12
NCOC 30
Oasis 79
Petrolinvest S.A.
77
Polpharma SA
79
RenergyCO 5556
RESMI 7879
Rio Tinto
44
Ryder Scott Company L.P.
60
SAT Infosystems
79
Shell 58
Sinopec
56, 58
Societe Generale Group
77
Spectral Capital Corporation
77

SRK Consulting
43
Standard & Poors
12
TeliaSonera AB
77
THALES 18
UNCTAD 16
Ural Group Limited
77
Venus Airport Investements B.V
79
WSA 52
Zhersu Metal
68
- 68

2223, 28
77
- 77
79

77
69
-519 68

74
- 77
77

79

28

77
78

62, 81
77
79
79

79
77

77

77

77
7273
- 77
68

68
- 77
48
50
30

79
77
47
60
68

30, 55, 58, 60, 62, 77
50
56
41
68
68
79

77
79
3839
79

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77
77

18

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60
79
77

31, 60, 7778
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80, 82

23, 2627


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13, 50, 58

13, 18, 23, 25, 48, 65

27

29, 55

48


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74

1415, 74, 7980
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Kazakhstan, 2012 2
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!
, . 2000 ,
(
InvestKazakhstan), , .
Investors2012, 25-, , ,
, .
,
12 . ,
. ,
,
- . ,
- . ,
: , , .
Kazakhstan ,

.

.
.
: kz@investkz.com

Owner:
Kazakhstanika Ltd
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C 1993- 2011 $146,6
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1.
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19850

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25000

10624

2011

2010

2009

2008

2007

2006

4624
2003

6619

4106
2002

2005

4557
2001

2781
2000

1852
1999

1233
1998

2107
1997

984
1995

1674

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1994
1995
1996
1997
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4,8

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11,9
6,8

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2,0
313,0

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412,0
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107,8
27,8

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l 2012#2l

Kazakhstan

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399,8
86,5

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8,0
49,6
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160,0

2000
114,4
33,2
90,1
951,2
481,8
162,9

2001
211,1
64,9
211,9
1 460,4
600,6
211,7

2002
401,2
123,6
64,7
1 011,3
622,7
214,4

4,9

33,1

17,8

42,2

148,0

227,4
29,5
0,8
46,7
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69,2
31,9

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126,2
23,8
10,5
15,6
28,7

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351,0
20,6
7,9
69,5
56,8

32,1
490,5
488,3
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1 549,2
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387,8
216,1
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2 971,2
1 131,5
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2 453,2
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1 203,8
692,5
2 076,1
1 909,6
930,9

2009
6 537,6
1 350,2
606,3
1 941,3
1 255,7
639,1

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5 610,0
1 533,8
889,0
1 403,7
1 020,8
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7 921,6
1 545,8
1 161,8
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688,2

658,3

405,3
314,1
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633,2
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181,3
232,3

456,6
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493,2
653,0
449,4
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415,9
612,3
481,4
383,1
191,9
299,9

621,9
572,7
449,7
446,2
396,0
363,9
338,9

Kazakhstan 2012#2

15


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TOTAL

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1993 ,



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39

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Kazakhstan 2012#2

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Kazakhstan 2012#2

43


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l 2012#2l

Kazakhstan

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Kazakhstan 2012#2

47


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l 2012#2l

Kazakhstan

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Kazakhstan 2012#2

49


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Kazakhstan 2012#2

51

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52

l 2012#2l

Kazakhstan

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Kazakhstan 2012#2

53

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l 2012#2l

Kazakhstan

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Kazakhstan 2012#2

55

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l 2012#2l

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Kazakhstan 2012#2

57

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Kazakhstan 2012#2

59




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l 2012#2l

Kazakhstan

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l 2012#2l

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Kazakhstan 2012#2

63



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l 2012#2l

Kazakhstan


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Kazakhstan 2012#2

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Kazakhstan

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Kazakhstan 2012#2

67


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Kazakhstan 2012#2

69

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Kazakhstan 2012#2

71

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Kazakhstan 2012#2

73

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Kazakhstan

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Kazakhstan 2012#2

75

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76

l 2012#2l

Kazakhstan

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,
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Kazakhstan 2012#2

77

M& A
M&A 2011

, $

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2011

2012

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100%

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4
5
6
7
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2011 2011
2011
2011
2011
2011
2011 2011
2011
2012

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2012

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2011

2012

11

2011

2012

12

2011

2011

13

2011

14

2011

15

2011

16

2011

2012

Korea National Oil Corporation


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Conwell Oil Corporation BV
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35

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100%
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334

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650

50%
100%

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Coville Intercorp Ltd

82,0519

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65%

Spectral Capital Corporation

100 %

Hambledon Mining Plc

Jian Resources
41

- 17,5 +1% NSR

Central Asian Gold


Corporation;



100% Venus Airport Investments B.V.

67%

TOO SAT Infosystems,


TOO Meridian Capital
HELMES
OAO
Operation UK Limited,
Logistic Investment S.A.R.L.

87,73
68

17

2011

2011

100%

96,26%
Polpharma SA


100%
EFKO Group ()

100%


25 %
Oasis


100%


100%

-
Allianz Kazakhstan
100%

-
/

100%


9,5%


9,99%

25%
i,

25%

,

100%
.. (9,95%)

100%
i

100%
i

100%



49%
Aureos Central Asia

67,4487

25

Societe Generale Group

Allianz SE
-
RESMI

50,82%

18

2011

19

2011

- 2011

20
21
22

2011
2011

2011
2011
2011

23

2011

24

2011

2011

25
26
27
28
29

2011
- 2011
2011
2012
- I 2011
- 2011

30

2011

31

2011

32

2011

2011

33

2011

2012

34

2011

35

2011

: .

78

l 2012#2l

Kazakhstan

-, 100%.
i,


i.
2011 RESMI
100%- .
2012 .

9,99% ,
100%.
: .
, - 2011 ,
$155,73 . , Venus
Airport Investments B.V ( ) $87,73 100% TOO SAT Infosystems
TOO Meridian Capital. HELME'S
Operation UK Limited Logistic Investment
S.A.R.L. 67% .
2012 .



( -)
50,82%
(-).
.

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.
$67,45 .

'2012

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www.investkz.com



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,
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, -

80

l 2012#2l

Kazakhstan

. ,
, ,
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, ,
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2007*

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2009*

2010*

2011*

2012**

12 849,8

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17 007,6

21 815,5

27 300,6

31 297

9,4

8,8

10,9

10,4

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2,6

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Kazakhstan 2012#2

81


. ,

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l 2012#2l

Kazakhstan

75 . ,
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l 2012#2l

Kazakhstan

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Kazakhstan 2012#2

85


* (46397 ), (44851), (29993),

9
(16809), (13570), (11289), (11128),
(6302), (3967)
(30263), (27000), * (24703), (19694),

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(11409), (2555), (1942)
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l 2012#2l

Kazakhstan

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.

Kazakhstan 2012#2

87

2
0
1
2
_
2

How to Knit Up Interests


of Kazakhstan and TNCs
Investment Potential
of new Industrialization
96
Foreign Investors Council
Partnership of Equals
98
FIC Working Groups:
Goals, Results, Plans
100
Global Experience of Total
Key to Success in Kazakhstan
104
KNAUF
To be Close to the Customer
106
Kazakhstan Germany
Time to Sum up the Results
108

investors 2012
annual

bus iness

over v iew

investment

How to Knit Up Interests


of Kazakhstan and TNCs

It's no secret that foreign investments played a key role inthe economic
rise of independent Kazakhstan, which, inmany respects, was a result of an
effective investment policy of therepublic. Meanwhile, inthe framework
of accelerated industrial and innovative development, themain challenge
for our country today isthe reallocation of FDI inflows from theextracting
sectors of theeconomy to theprocessing sectors.
90

l 2012#2l

Kazakhstan

Ups and downs

ith thecoll apse of theUSSR ,


Kazakhstan, like theother former
Soviet republics, faced acute shortage of
financial resources. Over theperiod of 1991
1996 alone, investments infixed assets
declined by more than 10 times, compared
to 1990, that put thecountry onthe verge of
an investment crisis. Insuch circumstances,
thegovernment made a decision to attract
foreign investors, primarily inthe oil
and gas industry. Thestate focused its
efforts oncreating a favorable investment
climate, while thelaws guaranteed longterm investments and ensured thestability
of fulfillment of theconcluded contracts.
As a result of a strategic partnership with
international oil companies, which had
invested billions of dollars inthe domestic
raw material sector, Kazakhstan managed
to enter theglobal market of hydrocarbons.
Kazakhstan was thefirst among theCIS
countr ies to be awarded investment
grade ratings from international rating
agencies Moody's (in 2002), Standard &
Poor's (in 2004) and Fitch Ratings (in
2004). According to experts of theUN and
theWorld Bank, Kazakhstan today isamong
themost attractive countries for foreign
investment. In19932011, $146.633
billion of foreign direct investment was
raised inthe domestic economy. Lagging
behind only Russia by thegross amount
of FDI, Kazakhstan isthe leader inthe CIS
interms of FDI per capita and their share
inthe countrys GDP. Itis noteworthy that
in20072009, inthe midst of theglobal
financial recession, when theglobal FDI
flows declined almost twice, Kazakhstan,
incontrast, sharply raised their inflows.
Moreover, in2011 their amount reached
$19.85 billion, up $90 million onthe
previous record high recorded in2008.
If to compare thestructure of thegross FDI
inflows by countries, here theNetherlands
(39.9% of all FDI inflows) isthe leader;
then France follows with a large gap (7.8%),
then China (5.9%), theUSA (5.2%), Britain
(4.6%), Russia (3.9%), theVirgin Islands
(British) Islands (3.3%), and Japan (3.1%).
Thelist of thecountries that have invested
inKazakhstan's economy includes more
than 120 countries.
Meanwhile, despite thepositive dynamics
of investment inflows, they have not
undergone substantial diversification.
Theanalysis of thesectoral structure
of the100 largest investor companies

inKazakhstan by sales volume showed


that most of these companies still operate
inthe oil and gas sector of thecountry.
Theactivity of theinvestors inthe fueland-energy sector and mineral and raw
material sector ismuch higher than inthe
real sector of Kazakhstans economy.
Inparticular, of $146.633 billion of
theFDI raised in19932011, $56,779.2
mil lion (38.7%) were direc t ed t o
geological exploration and prospecting,
while $44,883.9 million (30.6%) inthe
extract ion of raw mater ial s. Inthe
processing industries foreign corporations
invested only $15,411.8 million (10.5%).
Further itfollows trade with its $7,322.7
million (5%), financial activities $7,155.0
million (4.88%), construction $3,335.5
million (2.27%), as well as transport and
communication $2,391.2 million (1,63%).
Atthe same time, theshare of other types
of economic activity was slightly more than
1% of all theFDI.
Because of theex tremely uneven
distr ibut ion of capit al investment ,
theimbalances inthe industr ies are
aggravated by imbalances atthe level of
economic development of theregions.
According to data of theAgency for
Statistics, about 60% of all theinvestments
inthe country fall onthe cities of Almaty
and Astana, and Western Kazakhstan, Atyrau,
Aktobe, Mangistau and Kyzylorda regions
(where theraw material sector enterprises
are concentrated). Inthese regions, more
than 80% of all theenterprises with foreign
participation and affiliates of thefuel-andenergy sector operate.
We have to admit that favorable
conditions for investment inthe non-raw
material sectors, including thegranting
of tax privileges and preferences, and
thegiving of guarantees against changes
inthe law, which are provided for by
thelaws of Kazakhstan, have failed to
contribute to intensive growth of capital
investment inthe industries, producing
products with high added value. This
isquite clear; theimplementation of
science-driven and high-tech projects
isusually associated, as a rule, with
greater investment risk than that inthe
extracting industries. Accordingly, to
attract investors insuch projects, itis
necessary to create to themaximum
comfortable conditions for them and to
reduce risks. But this isnot an easy task
against thebackdrop of strengthened
global competition for FDI.

Theemphasis isapparent

nalysis of thepolls conducted among


foreign investors uncovered a number
of factors that constrain them from
participating innon-raw material projects
inKazakhstan:
Lack of consistency inimplementing
thestate investment policy;
Instability of thelegislation and thelack
of mechanisms ensuring compliance with
thelaws and contractual relations;
Po o r con d i t ion o f comp e t i t ion
inattracting investments, including
c u s t om s an d f o r e ign e xc han g e
treatment;
Poor development of infrastructure
and services that provide theraising
of investments, including financial,
banking, consulting and transportation
areas, information and analysis, SEZ,
and etc.;
I n s t a b i l i t y o f t h e g o v e r nm e n t
administration system inattracting
investments (continuous reorganization)
of thecentral agency dealing with
foreign capital, "gaps" inthe rights,
responsibilities and competencies
across numerous departments, as well
as theintricacies of their duties;
Current visa treatment.
Inthis regard, in2010 under the2010
2014 state-run program of accelerated
industrial and innovative development,
theGovernment of Kazakhstan launched a
reformatting of theinteraction with foreign
investors. Thus, inOctober 2010 they
adopted the20102014 Program of Raising
Investments, Development of Special
Economic Zones and Exports Promotion.
Under this, they started working with
large foreign companies from key investor
countries simultaneously on200 investment
initiatives. Intwo years, they arranged
and conducted more than 20 international
business forums with participation of
transnational companies. As a result, about
5,000 foreign investors visited Kazakhstan
in2010, while inthe last year this number
rose to 10,000.
Inaddition, theNational Investment
website www.invest.gov.kz was launched
in2010, supported in12 foreign languages
where everyone can get all necessary
information about business conditions
inthe country, up to thecost of utilities
inevery region.
To improve theinvestment-related laws,
a new law onspecial economic zones was

Kazakhstan 2012#2

91

investment
Chart 1.
Gross FDI inflows to Kazakhstan in19932011, in$M
19,850

2009

18,144

19,760

19,017

20,000

2008

18,453

25,000

10,624

2011

2010

2007

2006

4,624
2003

6,619

4,106
2002

2005

4,557
2001

2,781
2000

1,852
1999

1,233
1998

2,107
1997

984
1995

1,674

660
1994

1993

1,271

5,000

1996

10,000

2004

8,317

15,000

Source: National Bank of theRepublic of Kazakhstan

enacted in2011, as well as thelaw onstate


suppor t of industr ial and innovation
ac t iv it ies, prov iding a considerable
expansion of theexisted benefit package
and simplification of licensing procedures
for theSEZ members. However, in2011
theMinist r y of Indust r y and New
Technologies (MINT) proposed to reinstate
theprovision concerning thestability of
legislation back inthe Law onInvestment,
similar to that provision which was ineffect
in19942004, but now to apply itfor
theprocessing sector alone.
According to studies by MINT, thecurrent
investment capacity of Kazakhstan has
sufficient potential for growth. According
to theMinister of Industr y and New

Technologies Asset Issekeshev, through


raising of competitiveness of theeconomy
and more efficient use of advantages
alone, theannual FDI flows can increase by
$10 billion. To implement this possibility,
thesaid Ministry developed a National
Plan of Action onRaising Investment,
development of SEZ and export promotion,
which was approved by theGovernment
onDecember 23, 2011.
Theplan of action, first of all, provides
for more systematic work with foreign
investors. For this purpose, thepriority
industrial sectors were identified, and
ontheir basis 20 pr ior it y investors
countries were selected by thesize of
their investment inthese sectors. Based

Gross FDI inflows to Kazakhstan in 19932011 by investor countries, in $M (Part 1)


Country
1993
1994
1995
1996
1997
1.0
0.7
4.8
Netherlands
8.6
81.2
11.9
6.8
France
5.0
5.0
2.0
313.0
China
966.9
412.0
153.3
164.2
208.1
USA
25.7
152.8
483.7
311.4
United Kingdom
Russian Federation
Virgin Islands
5.9
14.1
45.3
80.2
(British)
12.0
30.0
12.0
Japan
16.0
35.1
132.3
22.8
Canada
8.6
15.5
12.0
1.5
Italy
4.1
44.7
31.1
Switzerland
1.3
107.8
27.8
Belgium
15.7
9.5
29.0
52.7
Germany
0.5
270.5
442.6
720.0
Republic of Korea (South)
Source: National Bank of theRepublic of Kazakhstan

92

l 2012#2l

Kazakhstan

onthe analysis of thestrategies of leading


companies from thegiven countries and
theprospects of development of a particular
sector of thedomestic economy for each
of these companies, theapproximate
time periods involved and thenumber of
transnational companies were identified.
So, before 2014 work will be carried out
with 78 multinational corporations, and
in20152020 their number will grow to
81 TNCs.
With this, theplans are to carr y
onindividual negotiations with every
large potential investor. Such individual
approach involves theconducting of a roadshow inthe priority countries, as well as
thedevelopment and implementation of
road maps for interaction with thetarget
investors. This includes assist ance
inpassing through theprocedures related
to thelaunching and conducting of business
inKazakhstan, arrangement of meetings
with key political leaders and top managers
of leading domestic companies, providing
consulting services both atthe stage of
investment project development and its
implementation, and post-investment
support.
An impor tant factor of work with
theinvestors will be their support inthe
regions of Kazakhstan. For this, investor
service centers will be set up inevery
region, ensur ing prompt and proper
response to theapplications of foreign
investors inthe regions and, infact,
will serve as theregional representative
agencies onexport and investment of
KAZNEX INVEST.
Inaddition, now theissue of setting
up coordinating councils oninvestment
climate under theregional administration

1998
27.0
0.1
86.7
399.8
86.5

1999
250.3
8.0
49.6
905.8
160.0

2000
114.4
33.2
90.1
951.2
481.8
162.9

2001
211.1
64.9
211.9
1,460.4
600.6
211.7

2002
401.2
123.6
64.7
1,011.3
622.7
214.4

4.9

33.1

17.8

42.2

148.0

227.4
29.5
0.8
46.7
15.3
69.2
31.9

4.3
9.4
126.2
23.8
10.5
15.6
28.7

18.1
157.3
351.0
20.6
7.9
69.5
56.8

32.1
490.5
488.3
361.0
0.6
50.6
67.9

59.6
165.4
469.1
520.0
0.8
37.8
45.6

offices (akimats) inthe cities of Astana


and Almaty isunder consideration. Their
main task will be to assist theinvestors
insolving any problems, including issues
related to cooperation with government
agencies.
Atthe governments level a Committee
onInvestment will be set up, which will
play therole of an investment ombudsman.
As a consulting and advisory body under
theCabinet of Ministers (by analogy with
theForeign Investors Council , which
acts under thePresident of thecountry),
thecommittee will develop proposals
with regard to coordination and control
activities of thegovernment agencies and
national holding companies onattraction of
investments, issues of ongoing activities of
theinvestors and protection of their rights
and interests.

Well have to fight

In

the coming few years, thegovernments


role during theprocesses of structural
changes inthe FDI will be critical; thus, new
tools, being introduced by theGovernment
under theprogram of attraction of "nonraw material" investors are, intheir essence,
quite correct and timely. Work inthis given
direction has already started, and visits of
our official delegations to foreign countries
more often end with theconclusion of
new agreements and memoranda inthe
processing sector. No wonder, inthe latest
rankings called Change Readiness Index
2012, prepared jointly by KPMG and thethink
tank International Development Institute,
Kazakhstan ranks fifth of 60 countries,
lagging just behind Chile, Tunisia, Taiwan,
and Jordan. Inthis ranking, which assesses

theability of theemerging markets to adapt


to rapidly changing global economy, we are
far ahead of thecountries such as China,
Malaysia, India, Brazil, Turkey and South
Africa. Of our neighbors among theCIS
countries Ukraine ranks 37th while Russia
ranks only 51st.
Atthe same time, thetask of Kazakhstan
to attract FDI iscomplicated by thefact
that today against thebackdrop of a decline
indirect investment flows, more and more
countries inthe world join thestruggle
for them. According to data of theWorld
Investment Report 2011, promulgated by
theUnited Nations Conference onTrade and
Development (UNCTAD), in2010 theglobal
FDI inflows rose by just 5% to $1.24 trillion.
With this, if theglobal industrial production
and trade already returned to their prerecession figures, thevolume of theFDI
flows remained about 15% lower than
theaverage pre-recession level and nearly
37% below its peak in2007. According to
UNCTAD, in2011 alone, FDI flows reached
$1.4 trillion to $1.6 trillion. Itis expected
that in2012 they will come to $1.7 trillion,
and only in2013 they will return to their
peak level at$1.9 trillion.
However, thepost-recession state of
thebusiness environment isfraught with
many uncertainties. Some risk factors
such as theunpredictability of global
economic governance, a possible largescale sovereign debt crisis, theimbalances
inbudgets and financial sectors of some
developed countries, and rising inflation
and signs of overheating of theleading
states with emerging markets can hinder
therise inthe FDI.
That fact that over thepast two years
thedeveloping countries increased even

Gross FDI inflows to Kazakhstan in 19932011 by investor countries, in $M (Part 2)


Country
2003
2004
2005
2006
612.2
1,768.2
1,549.2
2,886.0
Netherlands
161.3
275.7
774.7
802.3
France
248.6
387.8
216.1
362.9
China
1,105.5
2,971.2
1,131.5
1,708.9
USA
591.4
924.6
-61.1
860.5
United Kingdom
198.0
200.6
223.5
502.7
Russian Federation
Virgin Islands
85.7
135.8
268.8
503.9
(British)
96.1
178.5
335.0
342.6
Japan
8.3
169.0
247.0
437.1
Canada
375.7
313.0
306.6
376.1
Italy
630.5
235.6
103.4
234.6
Switzerland
0.1
7.8
-5.2
1.1
Belgium
63.9
65.2
76.9
-721.4
Germany
86.3
72.5
57.6
248.8
Republic of Korea (South)

Chart 2.
FDIs structure inKazakhstan by sectors of
theeconomy in19932011, inpercentage
1.63
2.27
4.88

6.4
38.7

3
5
7.5

30.6
Geological survey and prospecting
Mining industry
Metal industry
Trade
Processing industry
Finance
Construction
Transport and communication
Other
Source: National Bank of theRoK

more intheir weight both as therecipients


of FDI and theforeign investors can be
referred to theimportant trends that
should be taken into account by Kazakhstan
with regard to FDI. Since thecenter of
international production, and more recently,
of international consumption, shifts to
thecountries with economies intransition,
theglobal players more actively invest their
money inprojects aimed atthe development
of sales markets inthese countr ies.
Inparticular, in2010 theemerging markets
spent for thefirst time more than half of
global FDI flows, while thesix economies
intransition were themselves inthe list of

2007
3,148.0
1 022.6
358.2
2,453.2
916.8
785.3

2008
4,271.8
1,203.8
692.5
2,076.1
1,909.6
930.9

2009
6,537.6
1,350.2
606.3
1,941.3
1,255.7
639.1

2010
5,610.0
1,533.8
889.0
1,403.7
1,020.8
929.2

2011
7,921.6
1,545.8
1,161.8
1,039.3
911.9
773.8

2,465.4

1,115.0

1,048.5

688.2

658.3

405.3
314.1
517.2
633.2
5.1
181.3
232.3

456.6
1,053.2
693.1
182.9
62.7
324.1
891.1

588.5
493.2
653.0
449.4
93.8
283.0
184.8

614.5
415.9
612.3
481.4
383.1
191.9
299.9

621.9
572.7
449.7
446.2
396.0
363.9
338.9

Source: National Bank of theRepublic of Kazakhstan

Kazakhstan 2012#2

93

investment
Chart 3.
Global FDI flows in20022010 and prediction for 20112013, in$M
20,000

15,000

Baseline
Scenario

10,000

Pessimistic scenario
1,000

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

500

Source: UNSTAD, World Investment Report 2011.

twenty largest investors. Thedynamics of


activities of TNCs from thecountries with
emerging economies look incontrast with
thebackground of low investment activity
of corporations from developed countries,
whose foreign capital investments are still
about half of thepeak in2007.
For Kazakhstan, which isnow more focused
onattracting thecompanies that are
leaders interms of advanced technologies
and know-how (and these are more likely
theTNCs of thedeveloped countries)
rather than simply onthe inflow of cash,
this state of matters can hardly be called
successful. Besides, our traditional slogan
Minerals inexchange for investment for
thecompanies operating inthe processing
industries ishardly attractive other than for
theraw material TNCs.

There isan alternative

eanwhile, global economic cooperation


today isno longer developing due to
only FDI and trade. Inrecent years, therole
of an intermediate link thenon-equity
modes (NEMs) of international production
increa s ed. The se incl ude cont r ac t
manufactur ing and contract farming,
outsourcing of ser v ices, franchising,
licensing, management contracts and other
types of contractual relations through which
TNCs coordinate theactivities within their
global production and selling chains (GPSC).
TheNEMs allows them instead of setting
up a production branch (i.e. theplacement
of FDI) inthe host country to transfer

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Kazakhstan

theproduction functions to thecontractormanufacturer or to issue a license to local


companies for manufacturing of products.
For theinvestors themselves, theNEMs
projects are characterized by relatively
low initial capital costs and reduced
risks. Intheir turn, thehost countries are
provided thepossibility to integrate into
GPSC. According to data by UNCTAD, in2010
alone thesales by using thedescribed
mechanism exceeded $2 trillion, and this
took place mostly indeveloping countries.
One of themain advantages of NEMs
isthat they represent more flexible
mechanisms of interaction with local
companies that encourage TNCs to invest
intheir partners through thetransfer of
knowledge and technologies.
Insome industries NEMs can become
a more appropriate alternative than FDI.
For example, inagr iculture, contract
manufacturing provides better solving
of issues related to responsible investing
(respect of therights of local farmers and
sustainable use of resources) than largescale acquisition of land. Today, contract
farming spreads throughout theworld,
cover ing more than 110 developing
countries and theoutput of a wide range
of agricultural products.
Inthe automotive industry, contract
manufacturing accounts for 30% of global
exports of car components and a quarter of
jobs within theindustry, while inthe laborintensive industries such as theclothing,
footwear and electronics industries over
50% of global trade falls onNEMs. A striking

example of thesuccessful application of


this method isthe experience of China.
Thus, for thecountr ies which seek
to increase their export, which isquite
applicable to Kazakhstan, NEMs can become
a sort of highway to themarket, theinitial
point of access to production-and-supply
chains by TNCs, with further gradual building
up of independent export potential.
NEMs are a good means of increasing
technological capabilities of thehost
countr y. By essence, they represent
transfer of intellectual property protected
by thecontract. Ina number of countries
of theEast and Southeast Asia, Eastern
Europe and Latin America, thegaining
of knowledge and technologies onthe
basis of NEMs inthe electronics, clothing
and pharmaceutical industries, service
sector and outsourcing sector has led to
thetransformation of local companies into
international corporations and even to their
turning into technological leaders.
Ingeneral, NEMs can make significant
contr ibut ion to thedevelopment of
domes t ic produc t ion potent ial and
improvement of long-term prospects for
industrial development of thecountry, since
thecorporations have theneed for domestic
entrepreneurs and domestic investment.
With this, theaccess to funding for domestic
companies isfacilitated, either directly as
part of themeasures under theTNCs program,
as theTNCs provide support to thedomestic
partner, or through implied warranties
arising from thefact of partnership with
thelarge transnational corporation.
Based onthe foregoing, we can
say that for our countr y itwould be
advantageous to look seriously atthe
benefits provided by NEMs with regard to
relations with foreign investors. According
to therecommendat ions of exper t s
from UNCTAD, to successfully exploit
thepotential of this mechanism, thepublic
agencies responsible for thedevelopment
of theinvestment policy have to answer
thefollowing key questions. First of all how
to integrate policy, with regard to NEMs,
into theoverall context of thenational
development strategies. Secondly, how
to ensure support to thedevelopment
of theproduction potential of domestic
companies which could become part of
theglobal production-and-supply chains.
Thirdly, how to develop thetools to promote
and encourage NEMs.
Editorial

government

Investment Potential of
New Industrialization

Attracting direct foreign investments is one of the


main conditions for the successful implementation of
the programs of new industrialization in Kazakhstan.
We ask Asylkhan Serikov, Chairman of the Committee
on Investments under the Ministry of Industry and
New Technologies, to share with us about the state of
matters in this area.
Asylkhan Zhumagalievich, what has
been thedynamics of raising FDI inthe
countrys economy looked like inrecent
years? What changes has thesectoral
structure undergone inconnection with
thelaunch of theAIID Program?
ccording to statistical data from
theNational Bank, foreign direct
investments of $146.6 billion total were
raised inthe economy of Kazakhstan
in19932011. However, only inthe last
year, thereceipt of FDI reached $19.9 billion
that is10% up on2010 ($18.1 billion).
Regarding theFDI structure by types of
economic activities, in2011 thelargest
inflow of capital from abroad, namely
$10.8 billion, or 54.2% of total FDI raised
was directed to operations inreal estate,
mainly inservices, provided to enterprises,
as well as ingeological exploration.
Then, themining industry follows with

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Kazakhstan

it s $3.5 billion (17.7%) of FDI and


themanufacturing industry $2.9 billion
(14.5%). For comparison, in2010, when
themining sector received $4 billion of FDI
and theprocessing sector $2 billion, their
share inthe economic activities structure
were 21% and 11%, respectively. Moreover,
theFDI attracted inthe processing industry
in2011 grew by 45%, compared to 2010.
All these positive changes are evidence of
thesuccessful implementation of thestaterun AIID Program.
What are thekey target indicators of
theinvestment raising program for
20102014? What results have already
been achieved to date?
irst of all, itshould be noted that
thesectoral program for 20102014 to
raise investments, to develop free economic
zones, and to boost exports isaimed

atcreation of attractive conditions for


direct investments inthe non-commodity
export-oriented and high-tech productions,
as well as atintegration of Kazakhstans
economy into theglobal trading system
through promotion of processed products
exports.
Thef ol low ing re sult s ont arge t
performance indicators of thesectoral
program were achieved, following theend
of 2011:
Three new special economic zones
theSEZ Sary-Arka, SEZ Khorgos Eastern
Gate, and SEZ Pavlodar were created;
Companies from thelist of Global-2000,
such as Lanxess AG (Germany), Marubeni
Corporation, and Sumitomo Corporation
(Japan), HYUNDAI (Korea), THALES, and
Aubert & Duval (France) were involved
inparticipation inKazakhstani projects;
Inthe last years Doing Business rankings
by theInvestors Protection index,
Kazakhstan ranked 10 th inthe world, up
41 points, compared to theexpectations.
Inaddition, inlate 2011, following
theapproval of theNational Plan for Raising
Investments inthe Non-Raw Material Sector
and Improving theInvestment Climate,
considerable amendments were made to
thesectoral program.
Inparticular, for thefirst time thetarget
indicators onFDI and processed products
exports for foreign missions of Kazakhstan
and local executive bodies were introduced.
Inthe development of these indicators,
theexperience of developed countries such
as USA, Canada, Malaysia and Germany were
taken into account.
We believe theactive work to increase
thetarget indicators of thesectoral program
will significantly increase theflow of FDI
into thecountry, adding to thegrowth
of competitiveness of Kazakhstan onthe
world stage.
What caused theneed to develop
thenational plan of raising investments?
What are thekey innovations of theplan?
general, work to create a favorable
investment climate inour country has
been run since thedate Kazakhstan gained
its independence. Due to theconditions
created, foreign companies came to
Kazakhstan and launched thelargest of
joint projects. However, infuture, inspite
of theresults achieved, thecurrent
investment climate should be and ought
to be improved to bring itin line with
leading international practices that take

In

into account theinterests and demands of


theinvestors.
Thenational plan was developed by
order of thePresident of Kazakhstan to
strengthen thepolicy of attraction of
foreign investments and thecreation of
themost favorable conditions for doing
business throughout Kazakhstan.
As part of theapproval of theNational
Plan, thesectoral program was expanded
with additional activities that provide for
further improvement of theinvestment
climate for domestic and foreign investors.
This involves theimplementation of
systemic measures infour main directions.
Thef irst one isthe improvement
of condit ions of r unning business
inKazakhstan and increasing
theinvestment image of therepublic. These
include simplification of theprocedure for
issuing visas to investors from thepriority
countries, facilitating theprocedures for
registration of foreign citizens, as well as
thetransition to a visa free regime with
theOECD member countries. These actions
are scheduled to actively promote thebrand
image of Kazakhstan and its investment
potential to improve theinvestment image.
Also, information and analytical guides will
be developed, which will become convenient
guidebooks onthe priority sectors of
theeconomy for theinvestors.
Inthe f ramework of thesecond
direction, thebuilding up of a systemic
work to raise FDI and provide support
to foreign investors , there w ill be
developed a system of interaction with
foreign investors, both atthe central and
regional levels through establishment of
specialized institutions to service investors
invarious sectors of theeconomy, as well
as through strengthening therole of
theintergovernmental committees, etc.
Special attention will be paid to timely
update and advance of thenational
investment website www.invest.gov.kz,
which will serve as a quality benchmark
for potential foreign investors and create
theimage of Kazakhstan as a country of
large investment opportunities.
Thethird direction, theencouragement
of thegrowth of domestic enterprises,
involves theintroduction of theimage
concept National Champions, as well
as thedevelopment of criteria for their
selection for implementation inthe staterun AIID program.
Under thefour th direction focused
onthe promotion of exports of non-raw

material products to external markets,


Kazakhstani governmental agencies abroad
will render assistance inarrangement
of meetings between sellers and buyers,
visits of Kazakhstans trade missions and
delegations, and thespread of information
onthe expor t potent ial and expor t
enterprises of Kazakhstan abroad.
Theresult of all theabove-mentioned
activities can be significant procedural
relief (including ones to get visas), creation
of favorable conditions for theinvestors
to stay inthe country (including inthe
regions) as well as support of theinvestors,
both atthe central and regional levels.
What matters, interms of improving
theinvestment attractiveness of thenonraw material sectors of theeconomy,
have still not been resolved? Are there
any plans inthis regard onfurther
improvement of thelegislation?
ur committee carries oncontinuous
w or k t o r a is e t h einv e s t m en t
attractiveness of Kazakhstan, to improve
it s investment climate and relevant
legislation. Thus, theLaw onState Support
of Industrial and Innovation Activities was
enacted inDecember 2011, which served
also as thebase for amendment of theLaw
onInvestment.
T h ee s s ence of innov a t ion w a s
theintroduction of theconcept Strategic
Project. This status isgiven under
resolution of theGovernment to specific
projec t s , for which tax exempt ions
(exemption from thetax onland and
property for theperiod of up to 7 years)
and industrial benefits (for theinhabited
localit ies w ith low soc io- economic
development) are prov ided. Within
theindustrial benefits, thesubsidizing of
thecosts of gas, electricity, land purchase
and construction of buildings will be
provided to theinvestors.
Inaddit ion , inaccordance w it h
theorder of thePresident given by him
to theGovernment atthe extended
government session onJanuary 27th, before
theend of this year a comprehensive
analytical study to bring theinvestment
policy of Kazakhstan inline with theOECD
standards will be completed. Following
its results, proposals will be introduced
to theGovernment to further improve
theinvestment climate and improve
thelegislation.
Thus, inKazakhstan all necessar y
conditions are being created for theforeign

investors today a liberal market economy,


favorable tax and customs regimes, as
well as laws ensuring theprotection of
theinvestors interests.
The25th plenary session of Foreign
Investors Council under thePresident of
theRepublic of Kazakhstan will take
place onMay 22 inAstana. What role
does this body play inrelations between
Kazakhstan and theinternational
business community?
azakhstan pursues a policy of maximum
openness and stability, which isa key
to attraction of foreign companies to our
country. Themajor investors of Kazakhstan
are corporations of theUnited States,
theNetherlands, Great Britain, France, Italy
and Germany, which along with financial
investments bring advanced technologies
and innovations to therepublic.
TheForeign Investors' Council under
thePresident of Kazakhstan was set up
in1998 to better interact with foreign
companies operating inour country. This
body serves as an effective mechanism
that provides a direct dialogue with
theinvestors and facilitates a quick
resolution to problematic issues related to
investment activities. Atpresent, theBoard
iscomposed of theheads of the30 largest
foreign investor companies representing
various sectors of theeconomy. Another
five companies have an observer status
atthe Council.
Thanks to theFIC operation, important
issues are annually discussed , and
recommendat ions onvar ious issues
are developed, as those related to
modernization of enterprises, development
of local content and local personnel ,
improvement of tax issues, simplification
of bureaucratic procedures, improvement
of theinvestment image and transparency
of thelaw-making process, environmental
protection, and many others. Mutually
acceptable solutions are taken onall
these matters that enable Kazakhstan to
successfully develop international economic
cooperation and to adopt international best
practices.
Having entered this stage of economic
grow th, we intend to proceed w ith
thepolicy of raising investment capital,
which allows introducing thelatest
technologies and best practices of running
business inKazakhstan.

www.invest.gov.kz

Kazakhstan 2012#2

97

Foreign Investors Council

Partneship of equals

Galymzhan Pirmatov, Chairman of the Governing Board of Kazakhstan Foreign


Investors Council Association, President of Cameco Kazakhstan, answers questions
from the Kazakhstan business magazine.
Taking into account the25th Jubilee
Plenary Session being held inAstana
onMay 22, could you tell us more about
theCouncils major achievements over
thepast few years?
heForeign Investors Council chaired
by thePresident of theRepublic of
Kazakhstan (FIC) was founded in1998 by
thePresidents Decree. Since then, 24 FIC
Plenary Sessions have taken place under
thePresidents chairmanship and this year
the25th Jubilee FIC Plenary Session isbeing
planned inAstana. Previously, thePlenary
Sessions were held twice a year. Starting
from 2011 FIC Plenary Sessions take place
annually.
Plenar y Sessions have taken place
inAtyrau, Ust-Kamenogorsk, Karaganda,
Kostanai, Kendirly of Mangystau region,
Borovoe inAkmola region, and thecities of
Almaty and Astana.
Inaddition to thePlenary Sessions of
theCouncil, FIC Interim Sessions chaired by
theDeputy Prime Minister of theRepublic
of Kazakhstan are held. Progress onthe
prev ious Plenar y Sessions minutes
implementation and theactivities of theFIC

98

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Kazakhstan

Working Groups are discussed atthe Interim


Sessions.
Two national contests Best Foreign
Investor were conducted atthe FIC Plenary
Sessions in2003 and 2008. TheAwarding
Ceremony of theBest Foreign Investor 2012
Contest isalso planned for the25th Jubilee
FIC Plenary Session.
Itis worth noting that inthe course
of 14 years since theCouncils founding,
theGovernment jointly with theforeign
investors have discussed a number of issues
of high importance to our country, such as
foreign direct investment attraction, power
sector issues, environmental protection,
infrastructure development, modernisation
of Kazakhstani enterprises, technological
development, transparency and corruption
issues, educat ion and human capital
development, local content development
issues, etc.
During these high-level events, theforeign
FIC members share their recommendations
based oninternational experience, make
proposals oncooperation, indicate their
support, and, quite often, make certain
commitments.

FIC Working Groups activities complement


FIC Plenary Sessions chaired by thePresident
of theRepublic of Kazakhstan w ith
theparticipation of theFIC members and
observers as well as thetop leadership of
thestate bodies of theRepublic. Itis also
theWorking Groups sessions jointly cochaired by theexecutives of thestate bodies,
and thetop managers of theforeign investors,
where issues of great importance to both
theRepublic and theinvestors are raised.
A number of industrial initiatives were
undertaken by theFIC members and their
represent at ives incooperat ion w ith
therepresentatives of theGovernment
inthe framework of theissues raised atthe
FIC Plenary Sessions and theWorking Groups
meetings. Among those are: theaccession
of K azakhst an to theInter nat ional
Welding Association, thedevelopment of
Technology Map for theoil and gas industry,
theInvestment Attractiveness Survey, Talking
Business Kazakhstan TV-show, Kazakhstans
natural gas market research, thedevelopment
of theCode of Practice for Supply Chain
Management inthe oil and gas industry and
many other projects.

Could you, please, share themost


important issues that are currently being
raised by theForeign Investors Council?
inevery, without exception, country
around theworld, investors are
traditionally interested ina long term
stability of theinvestment climate, security
of their investments, reasonable return
onthose investments and predictability
of reforms performed by thegovernment.
Taking into account that thevast majority
of thereforms currently conducted by
thegovernment are indeed needed and
aimed to benefit theeconomy of Kazakhstan,
increase competitiveness of local enterprises
and people along with theactivities to
preserve thenatural environment, theFIC
Working Groups and thePlenary Sessions
discussions target issues that concern
both thestate and foreign investors such
as regulations related to foreign labour
attraction, local content development,
improvement of tax, customs and labour
legislation including thelong term need to
supply Kazakhstan with professional labor
resources as well as further development of
environmental legal base and many others.

As

What are theobjectives of your Association


inthe framework of Kazakhstans
engagement with theforeign investors?
heKazakhstan Foreign Investors Council
Association (KFICA) was founded in2000.
Itis tasked to provide logistical, coordination,
and administrative support to theforeign
members of theFIC and represent them through
appropriate engagement with therespective
government bodies. KFICA closely cooperates
with theCommittee onInvestments of
theMinistry of Industry and New Technologies
of theRepublic of Kazakhstan, which isthe
official executive body of theFIC. KFICAs
members actively engage with theother
Ministries and state bodies responsible for
theFIC Working Groups as well.

How has Kazakhstans investment climate


changed over thepast few but rather
challenging for theglobal economy years?
ccording to the Investment Attractiveness
Survey, conducted by Ernst and Young as
part of their commitment to the FIC Investment
Image Enhancement Wor k ing Group ,
Kazakhstan has been rated in the top three
most attractive CIS investment locations.
The conducted Survey samples existing and
potential investors representing a diverse
spectrum of industries. The criterion for
investment attractiveness is the combination

of investors perception of the countrys ability


to compete for Foreign Direct Investments and
their confidence in Kazakhstan as a location
for businesses.
A number of respondents agreed that the
investment climate has improved over the past
two years. These investors believe that all the
measures and the overall environment created
by the countrys leadership demonstrate the
willingness to engage in an open dialogue with
foreign investors. Moreover, the respondents
are indicating the commitment of the countrys
government to make consistent reforms, aimed
at welcoming FDI, building a transparent
and competitive market environment, and
developing specific industries.
Over the past years Kazakhstan has
demonstrated significant results in attracting
FDI, particularly in extractive industries.
However, if the government is aiming to
diversif y the economy, further work on
attracting FDI involving transfer of knowledge,
high-tech equipment and measures on human
capital development is necessar y. Our
leadership acknowledges that the decisions
on the investment destinations made by
international investors are based on stability,
transparency and predictability of the
business environment, proximity to markets,
efficient access to infrastructure and skilled
labour factors.
What measures, inyour opinion, should
theGovernment undertake inorder to
improve Kazakhstans competitiveness
from FDI attraction standpoint?
ased onthe results of theInvestment
Attractiveness Survey I spoke about
earlier, thefollowing recommendations by
theinvestors onfurther improvement of
theinvestment climate have been identified:
Fur ther improvement of legal and
regulatory environment and ensuring
independent court system
Further development of infrastructure and
urban projects
Investment inhuman capital inline with
economic needs and innovations
Adoption of a proactive FDI promotion
strategy
Development of Kazakhst an as an
international trade, logistics, business
and financial hub has been determined as
thefocus topic of theupcoming FIC plenary
session. How does theinvestors community
evaluate this initiative?
Histor ically Kazakhstans geographic
location represented competitive advantage
of our country. Thepeoples occupying

thestates and territories along thehistoric


Silk Road greatly benefited from this
impor tant transpor t route. Later, with
thetransformation of thegeopolitical map,
changes inthe traditional trade routes and
transportation alternatives, Kazakhstans
competitiveness as a transit country has
somewhat weakened. Furthermore, since
Kazakhstan isa land-locked country, hence,
infact, without access to theinternational
markets, many current investors, especially
those inthe mineral resources sector, have
been facing logistical problems both interms
of delivery of their products to their customers
and with transportation of therequired
equipment and materials from international
manufacturers. Obviously, this increases
cost of local production which subsequently
impacts thecompetitiveness of Kazakhstani
goods and services. Theinvestors community
welcomes theefforts that thecountrys
Leadership has undertaken to execute a
number of projects inthe area of improving
transport and logistics infrastructure. Im
sure that our country has demonstrated its
capability to reinstate its leading status
inthis sphere and to once again become a
reliable bridge between Europe and Asia.
www.fic.kz
Kazakhstan Foreign Investors Council
Association (KFICA) was established
in 2000 at the initiative of the foreign
members of the Foreign Investors Council
as the official Secretariat to support and
represent FICs foreign members in FIC
activities. It is governed by the Articles of
Association. Members of KFICA are comprised
of the companies, partnerships or entities
which have a representative who has been
appointed as a foreign member of the FIC.
KFICA is governed by the Governing
Board comprised of the Chairman, Deputy
Chair, Treasurer, Secretary, and three Board
members who are elected by the Members
at the General Members meeting of KFICA
once a year.
All important issues related to FIC and
KFICA activities are discussed jointly and
decisions are made by KFICA Executive
Committee (ExCom) comprised of the heads
of all KFICA members. KFICA ExCom meets
monthly or more frequently if required.
Each foreign member of the FIC appoints
a permanent representative who works
closely with KFICA and serves as a liaison
between the foreign FIC member, KFICA, the
Kazakhstani side officials, other foreign side
members and their representatives.

Kazakhstan 2012#2

99

blitz poll

FIC Working Groups:


Goals, results, plans
On the eve of the 25th plenary
session of the Foreign
Investors Council we asked
Co-Chairs of the FIC working
groups from foreign side to
answer questions of our
regular blitz-poll.
1 Tax legislation is one of the important
cr iter ia in assessing the inves tment
attractiveness of the country. In this respect,
the key aspect is retaining a balance between
the governments interest in increasing tax
proceeds and the interest of private business
in increasing the return on capital. The purpose
of the working groups activities is to establish
a favorable legal environment for carrying
business in Kazakhstan. The current level of the
economy development and related to it business
processes requires a certain reformation of the
legislative base. In this regard, the government
has taken series of progressive measures,
including in the area of tax policy. Favorable
tax rates on a number of taxes are in effect in
Kazakhstan, and provisions stimulating direct
investments in the economy of Kazakhstan
have been accepted.
It is possible to accentuate the two
components of the tax regime, tax policy
and tax administration. In our work we take
into account the importance of using these
components not only as a fiscal instrument,
but also its huge social and stimulative
potential. Considering the composition of the
working group, who are experienced employees
of state agencies and representatives of
large international companies, we hope
that the results of our work will enhance
the competitiveness of Kazakhstan in the
international arena.
2 Any legislative process requires certain
reasonable t ime. Hopefully, last year s
performance results, which include analysis
and introduction of proposals, agreement with
authorized agencies and legal due diligence,
will be supported by the Government and
will be accepted by the Parliament in the

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1 What objectives are set for your Working Group

by the Foreign Investors Council?

2 How do you measure the results of your

Working Groups activities during last year?

3 What issues are on the agenda for your Working

Group in 2012?
intended to mitigate the differences between
tax accounting and international financial
reporting standards (IFRS) is crucial for
Kazakhstan in the process of integration into
the global economy. Two initiatives simplifying
the tax administration have been introduced
for the support of entrepreneurial activity:
a decrease of tax reporting frequency and
extension of deadlines for tax payment. The
adoption of the differentiated approach to the
application of administrative sanctions serves
as an example of stimulating law-abidingness.
Such measures have a positive influence on the
conduct of business. This is especially crucial
for the rapidly changing market environment
because the effective tax system contributes
to the competitiveness of Kazakhstan.

Zhanna Tamenova
Co-Chair of the FIC Taxation Working
Group from the foreign side, Kazakhstan
Tax & Law Leader, Ernst & Young
current year. For this reason, I would
like to elucidate the already achieved
results of the cooperation between the
Kazakhstan and foreign sides reflected
in the respective legislative acts. In
particular, these are: introduction of
the administrative procedures for the
conventions on avoidance of double
taxation; a simplified procedure of
application of the conventions with
respect to the so-called passive
types of income has been introduced; a
possibility of an automatic application
of the conventions; the conception on
secondment has been developed and
accepted. Acceptance of provisions

3 The working group plans to continue


working in the following areas: application of
international principles in the area of transfer
pricing; further minimization of differences
between IFRS and tax accounting; enhancement
of taxation principles, including the adoption
of a provision on assumption of taxpayer
innocence; in the area of administrative
responsibility adoption of a commensurate
approach and indemnity against administrative
responsibility in case of absence of a damage to
the state. The success of any piece of legislation,
to a great extent, depends on its application
at the administrative level. Currently, costs
associated with observance of legislative
requirements remain high. This factor reduces
the positive effect of tax reforms. The working
group initiated a series of measures intended to
decrease the administrative burden on business.
In general, our joint work is focused on studying
international principles and applying generally
accepted global practices.

Murat Munbayev
Co-hair of the FIC Joint Operations
Working Group, General Manager,
Strategic Planning and Analysis,
Tengizchevroil
1 The objectives of the Joint
Operations Working Group of the
Foreign Investors Council in 2011
included improvement of Kazakhstans
investment climate and the legislative
framework, particularly in the spheres
of labour, antimonopoly and renewable
energy sources legislation, foreign
labour regulations, natural monopoly
regulations as well as promotion of
power industry development, along with
the human capital development and the
enhancement of the environmental
protection effectiveness both locally
and on global level.
To achieve these objectives the Joint
Operations Group defined the following
targets for itself: to share its experience
and knowledge at forums, conferences
and roundtables, develop proposals
on changes and supplements to the
corresponding laws and to take part in
the working groups established by the
ministries, Majilis and the Senate of
the Parliament of RK for discussion of
such changes and supplements to the
Labour Code, Foreign Labour Regulations
and the Ecology Code as well as in the
legislative acts on power industry,
natural monopolies and regulated
market.
2 In general the Joint Operations
Working Group was able to deliver on its

targets in 2011. The following six Working Sub-Groups


were established: subgroup on education and human
capital, subgroup on foreign labour work permits, subgroup on the Labour Code, subgroup on local content
development, subgroup on power industry issues and
subgroup on sustainable development and environment
protection.
The members of the first Working Subgroup took
part in the II International Conference Human Capital
Development in RK. Challenges and Resolutions and in
the Forum Vocational Training and Business: Dialogue
of Partners.
The second Working Subgroups members participated
in the Ministry of Labour Working Group on the
development of the new Work Permit Rules, which were
endorsed in January 2012.
The third Working Subgroup members participated
in the working groups established by the Ministry of
Labour, Majilis and the Senate of the Parliament of RK
on the Labour Code discussions. The amendments to the
Labor Code were adopted in January 2012.
The fourth Working Subgroup participated in the
discussion of the local content development programme
with the Ministry of Industry and New Technologies
and with other business associations, and submitted
its comments on the draft procurement Rules to the
Government of RK.
The fifth Subgroup participated in the discussion of
the draft amendments to the energy concerning laws as
well as investment activities, natural monopolies and
regulated market arranged by the Ministry of Industry
and New Technologies, Majilis and the Senate of the
Parliament. In April 2012, state authorities and the
investors had constructive dialogue and discussed
the electrical grid industry development during the
Power Generating Industry Modernisation Roundtable
organised by the Subgroup.
The fifth Subgroup was involved in the discussion of
the environment protection regulations amendments,
permitting system improvement and on the issues
of internal carbon credit trading (Green House Gas
emissions) within the Working Group established by
the Ministry of Environment Protection.
3 The Working Subgroups established in 2011 will
continue their activities in 2012 as the issues under
their discussion continue to be relevant in 2012 both
for the Government and foreign investors. The Human
Capital Development Subgroup intends to consider
issues of qualified manpower shortage, training and
re-training of Kazakhstani technical specialists in
the oil and gas and mining industries, as well as
contribute to the labour market analysis and to the
development of the National Qualifications Framework.
It is also planned to participate in the Human Capital
Development Conference and in the Vocational Training
and Business: Partners Dialogue Forum.
Labour Issues Subgroup intends to continue its
work with the Government on the improvement of

Olga Lonovenko
Deputy Co-Chair of the FIC Operations
Working Group from the foreign side,
Ethics and Compliance Senior Adviser,
Shell Kazakhstan Development B.V.
the Labour Code and Foreign Labour
Engagement Rules.
Local Content Development Subgroup
plans to continue discussions with the
Government on the enhancement of the
Procurement Rules that would allow
growth in local content consumption by
businesses across the country. We will
continue to determine foreign investors
interested in establishing joint ventures
in RK and consider optimization of tender
and prequalification procedures in order
to assist Kazakhstani manufacturers.
Subgroup on Power industry issues
intends to cont inue developing
recommendations on antimonopoly
laws improvement , on legislation
in the field of regulation of natural
monopolies and regulated market as
well as developing proposals on creating
economic mechanisms to stimulate
energy efficiency. Joint work on the
improvement of the investment climate
in the Power industry of RK will be
continued in conjunction with the state
authorities.
Environment Protection Subgroup
plans to participate in the development
of the environment legislation of RK and
on creating internal market for carbon
credits. It is also considering to support
Kazakhstans initiatives under the UN
International Summit on Sustainable
Development Rio+20 in Brazil.

Kazakhstan 2012#2

101

blitz poll
investments meets international standards. We do
this through active participation in the drafting of
new legislation, as well as through recommending
changes to existing legislation. In addition, we
advise on ways to improve the enforcement of
legislation in Kazakhstan and how to improve the
quality of the courts and judges in Kazakhstan.

Curtis Masters
Co-Chair of the FIC Legal Working
Group from the foreign side, KFICA
Governing Board Secretary, Director
and Partner, Baker&McKenzie
1 One of the most important
factors in any countrys investment
climate is its legal regime. A country
cannot attract significant foreign
investment if its laws are poorly
written, if the rights of investors
are not protected or if the courts
are weak. Particularly important
to foreign investors are (i) whether
the legislation meets international
standards, (ii) the stabilit y of
contracts, (iii) how the legislation is
enforced in practice, and (iv) whether
the courts are impartial and free of
corruption.
Kazakhstan already has the most
favorable legal regime in the CIS.
But the competition among countries
for foreign investment is fierce. So,
in order for Kazakhstan to continue
its excellent record of attracting
foreign investment, and in particular
to attract more investments outside
the oil and gas sector, the Republics
legal regime needs to develop even
further.
Therefore, the Foreign Investors
Council has given the Legal Working
Group the objective of assisting in
the improvement of Kazakhstans
investment climate through the
improvement its legal regime. In
particular, we try to make certain that
the Republics legislation affecting

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Kazakhstan

2 The Legal Working Group was very active


during 2011. Among other things, we helped
Kazakhstan fully join the international Capetown
Convention treaty concerning aircraft and aviation,
to which all major countries are members. This will
make it easier for Air Astana and other airlines in
Kazakhstan to finance the expansion of their fleets,
enabling them to reduce costs and provide better air
service to Kazakhstans citizens. We also advised
on many important draft laws (such as the Law On
Development of the Stock Market, the Law On State
Support for Industrial-Innovative Activities, etc).
We also proposed important changes to several
laws (such as the Environmental Code), which will
help those laws meet international standards.
Very importantly, we proposed changes to the
legislation which will help improve the citizens
access to public information and will increase the
transparency of the public records maintained by
state bodies.
We believe the above developments will have
a positive impact on the investment climate in
Kazakhstan.
3 Our Plan of Action for 2012 is very ambitious.
In the area of legislative reform, our activities
include the following:
improvements to the Law On Competition to
help facilitate mergers and acquisitions in
Kazakhstan;
creation of a legislative framework to facilitate
the project financing of concessions;
improving the instructions on state registration
of legal entities, branches and representative
offices;
amendments to the Law On Subsoil and Subsoil
Use to clarify the provisions concerning the
transfer of subsoil rights.
Our activities in the area of judicial reform during
2012 will include the following:
proposals to reduce the amount of state duties
collected by the court, thereby making it easier
to resolve disputes in Kazakhstans courts; and
holding a roundtable between Legal Working
Group and members of Supreme Court and the
Judicial Council on how to improve the selection
and independence of judges.

Jean-Luc Porcheron
Co-Chair of the FIC Joint Oil and
Gas Working Group from the foreign
side, KFICA Governing Board
Member, Managing Director, Total
E&P Kazakhstan
1 KF IC A Oil & Gas Work ing
Group was established in summer of
2003. Two main objectives were set,
that is to optimize the investment
climate in Kazakhstan, and to assist
with def ining foreign investment
attraction strategies. I believe that
these objectives appropriately reflect
the importance of oil & gas sector,
which will remain the leading sector
of Kazakhstans economy in particular
in terms of foreign and domestic direct
investments.
2 In the last few years the group
activities concentrated on discussion of several areas and key groups
of issues.
O n e v e r y imp o r t an t ar e a is
legislation and regulatory system. As
you may know, last year Kazakhstan
adopted a new Law on gas and gas
supply issues. Before that there were
signif icant changes in legislation
on subsoil use and oil product s
regulation. Many questions were
discussed in relation to development
of legal and technical regulations in oil
and gas and petrochemical industries
and its integration within the Customs
Union and Euro-A sian Economic
Community. Discussion continues on
the associated legislative acts.

The other important area is the role of


human capital, which includes such issues
as Work Permit Regulations, development
of industry training standards, increase of
local content.
Special at tent ion was drawn to the
area of safety, security, risk assessment,
implementation of best practices, experience,
and technology for the safe development of
hydrocarbon resources of the Caspian region.
Besides, the Groups activities addressed
such specific issues as production, storage,
and disposal of sulfur produced f rom
oil&gas operations, associated gas flaring,
improvement of production sector operations
and related services sectors.
3 As agreed with Kazakh side, the Oil &
Gas Working Groups agenda (action plan)
for 2012 includes 5 major items:
Local content in personnel;
proposal s and needs for produc t s
required by Kazakhstani oil and gas
enterprises for petroleum operations;
Sharing the best international practices
on: a) implementing petroleum projects
at the commercial operations stage, b) oil
and gas industry working conditions and
labor safety regulations, c) improvement
of state procurement procedures;
Interaction with industry associations
and RoK Ministr y of Oil and Gas to
address changes and/or addit ions
to laws on oil and gas (including
consistency of such changes and/or
additions with existing subsurface use
contracts), and development of oil and
gas industry technical regulations for
the Customs Union;
Prov iding assist ance w ith set t ing
up training centers to comply with
international certification standards and
to train specialists to meet qualifications
requirements of leading international oil
and gas companies (exchange experience
in developing cur r icul a , selec t ing
instructors, engaging cer t if icat ion
organizations, etc.)
For each item of the action plan we form
special sub-group which will focus on issues
specific to the item, and will concentrate on
achieving sustainable results.
I believe that the Group is able and will
deliver sound results this year that will be of
the great mutual benefit both for the Republic
of Kazakhstan and foreign investors.

Erlan Dosymbekov
Co-hair of the FIC Investment Image
Enhancement Working Group from
foreign side, Partner, Ernst & Young
1 The working group supports the
development of a favorable investment
image of Kazakhstan. Countr ies
compete for FDI, and Kazakhstan
needs to differentiate itself from other
rapidly growing markets of similar
size and prominence. To achieve
this objective the countr y needs
an internal and external marketing
plan across various layers, including
focused government communication
to target investors from specif ic
industries and countries; an ongoing
communication platform between
existing and prospective investors and
a comprehensive PR strategy, including
media and events, in support of the
countrys strategic goals. A targeted
inves tor communicat ion polic y
will help to minimize the existing
perception gap of Kazakhstan as an
investment destination.
2 During the past year the working
group implemented a number of
initiatives, including enhancement
of investor dedicated website www.
invest.gov.kz, which is successfully
operated by JSC National Export and
Investment Agency KAZNEX INVEST.
The website was developed in line with
the practices of leading investment
agencies and represents a highly
effective platform which now accounts
for 66,500 visitors from 160 countries

providing centralized access to information


on the business environment and investment
opportunities in Kazakhstan. KAZNEX INVEST
developed and deployed a v ideo ad on
investment opportunities in Kazakhstan with
rotation on leading international channels
BBC, CNN and Bloomberg. As a result of TV
advertising, the number of national investment
website visitors increased 1.5 times and reached
the maximum number since the websites
launch.
The Ministry of Foreign Affairs regularly
organizes press tours for international media
in conjunction with key business events in the
country, providing leading international media
access to information on key developments in
the country, as well as interviews with senior
government officials and foreign investors
operating in Kazakhstan.
The working group suppor t s ongoing
communicat ion bet ween e x is t ing and
prospective investors, including the publication
Success stor ies: foreign investors in
Kazakhstan. Ideas for potential players.
As a part of the working group activities,
Ernst & Young conducted the survey among
200 prospective and existing investors from
over 20 countries. The objective of the survey
was to define the perception of Kazakhstan as
an investment location by business leaders.
The report based on the results of the survey
was widely covered in the media and discussed
at business events. Recommendations to
enhance the competitiveness of the business
environment were provided to the government
bodies and considered during the development
of the National Investment Plan.
3 The working group will continue
to implement the project s related to
enhancement of communicat ion w ith
business community and raising awareness
on investment opportunities in Kazakhstan.
This will cover targeted events, publications,
update of the dedicated website and its wider
promotion. We will also work to enhance public
awareness of the positive contribution of
foreign investors to the sustainable economic
and social development of the country.

The editorship of the business magazine


Kazakhstan expresses gratitude to the co-chairs
of the FIC working groups for participation in this
blitz poll and special thanks to Zarina Bakenova,
Director of Kazakhstan Foreign Investors Council
Association, for her help in publication of this
material.

Kazakhstan 2012#2

103

INVESTOR

Global Experience of Total


Key to Success in Kazakhstan

Interview of Yves-Louis Darricarrre, President of Total Exploration & Production.


Could you tell us about main
development stages of Total
company in Kazakhstan?
What assets does your
company own in our country
currently?
otal E&P Kazakhstan was
established in 1993, when
the Government of Kazakhstan
decided to launch the largescale development project
in Kazakhstani sector of the
Caspian Sea having created the

104

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first national state company


f o r o f f s h o r e o p e r a t io n s
KazakhstanCaspiShelf. Over
15 years ago, as a par tner
of the f irst internat ional
consor tium, Total took an
active part in the worlds most
ambitious seismic acquisition
in the northern part of the
Caspian Sea. As a result of
full-scale geophysical survey
in 2000 the gigantic field of
Kashagan was discovered. The

project currently operated


by NCOC, where Total has its
participation share (16.81%).
Besides Kashagan project,
we have established partner
relations with the National
Company KazMunayGas on
Khvalynskoe f ield and for
joint explorations both in
Kazakhstan and abroad. We also
plan to develop our activity in
Kazakhstan as an operator of
oil and gas projects.

Currently Total plays the key


coordinating role in NCOC
which is an operator of the
North Caspian project. How
does Kashagan development
progress?
otal does play the key
coordinating role in NCOC,
since we have an extensive
exploration and production
e xper ience in technical ly
chal l eng ing and e x t r em e
condit ions (f or ins t ance ,

projects in the Nor th Sea,


deepwater projects like Pazflor,
etc.). Kashagan is one of such
projects with its sensitive
ecosystem, shallow waters with
no access to open sea, high
formation pressure, high H2S
content, significant temperature
swings in winter and summer.
Currently the first develop
ment phase of the project
called Experimental program is
coming to an end. It comprises
construction of technological
facilities for oil production
and oil and gas processing
before export, as well as raw
gas injection. The first drop of
produced oil is anticipated by
the end of 2012. In this context,
safet y and env ironment al
protection is one of the main
cr iter ia paving the way to
start up.

Understanding (MoU) w ith


"KazMunayGas Exploration and
Production" with the purpose
to perform joint exploration
both in Kazakhstan (Nor th
Usturt), and abroad. To achieve
jo in o b j e c t i v e s t h e t w o
companies continue the search
of other international assets
of mutual interest, together
w ith applicat ion for new
asset in North Usturt basin.
Besides exploration, we plan to
develop alternative resources in
Kazakhstan, because Total is not
just an oil producing company,
but a global energy company.
Therefore, Kazakhstan has high
potential for development of
solar, wind energy, as well as
biomass, and for us these are
potential for new dimensions
of our cooperat ion in the
long term.

What is the role of exploration


and appraisal of new fields
in
Companys
strategy
in Kazakhstan? In your
view, what other business
dimensions can bear future
potential?
or Total E&P the exploration
and produc t ion are the
main lines of activity. High
level exper tise is our main
competitive advantage in the
world where the new resources
have to be prospected and
resources delivered in
challenging circumstances. At
the same time the demand for
oil and gas continue to grow due
to the pressure from emerging
economies. In this environment
Total E&P strategy is to acquire
the new assets with increased
geological and technological
challenges and observance of
high safety and environmental
management standards. We
follow our bold exploration
strategy which recently brought
us to large discoveries in Bolivia,
French Guiana and Azerbaijan
in 2011. Kazakhstan is not an
exception in this respect.
In O c t ob er 2011 To t al
signed the Memorandum of

At some point Total initiated


creation of Kazakhstan
welding institute similar
to the French Institut de
Soudure. What is the current
outcome of this work?
his initiative was voiced
in December 2009 during
t h e p l enar y s e s s ion t h e
Foreign Investors Council. The
project of Welding Institute
was spec if ically noted by
Mr. Nazarbayev, President
of Kazakhstan, and gained
significant support from the
RoK Government. Total is the
coordinator of the project that
brought its positive results.
In 2011 Kazakhstan became
the 55 th member country of
the well-known International
Institute of Welding. At that
t ime K a z akhs t an Wel ding
Associat ion (KazWeld) has
been created to act as an
independent accredit at ion
body ensuring implementation
of internationally recognized
diploma.
Today KazWeld compr ises
over 20 largest Kazakhstani and
international companies and
institutes. For us, this is a major
contribution into development

of local professional personnel,


support of local content policy,
sustainable development of the
industry and economy.
Total also participates in
a number of social and
educational projects. Could
you highlight the most
interesting of them?
otal works to strengthen
the image of the socially
responsible company.
Educational project s are
part of our strategy wherever
we operate, that is over 130
countries of the world. And
everywhere we try to make our
contribution in social projects.
Therefore, such leading
Kazakhstani universities like
Nazarbaev University, KazakhBritish Technical University,
Karaganda State Technical
University, Academy of public
administrat ion under RoK
President are our strategic
par tners , since long-ter m
projects need highly qualified
personnel.
For example, we suppor t
the joint educat ional
program of Academy of public
administration and National
School of Administration of
France. This institution is one
of the most highly reputable
in Europe in the sphere of
business administration. Its
graduates are among leading
state polit icians, members
of Parliament , top-rank
administrative and financial
controllers , CEOs and top
managers of largest stateow n e d an d in t er na t ional
companies, mass media and
communications.

You are a co-chairperson of


Kazakhstan-French Business
Council. In this light how
would you evaluate the level
of business cooperation of
our countries? From your
perspective, what can be done
for its further development?
azakhstan-French Business
Council was established in

2008 at the initiative of the


Presidents of the two countries.
We hold annual joint forums
and actively promote trade and
investment between Kazakhstan
and France as well as cooperation
bet ween K a z akhs t ani and
French companies. Dur ing
the last session of the Council
in Februar y 2012 in Astana
attended by more than 60 French
groups the issues of further
improvement of cooperation
between Kazakhstani and
French companies, development
of human capital, impact of
Customs Union, implementation
of PPP (Public-Pr ivate
Partnership) were among the
topics discussed.
I would like to note that
French companies are ver y
interested in invest ing in
Kazakhstani economy, future
t e c hn o l o g y t r a n s f e r a n d
par ticipation in innovative
reforms in various spheres of
Kazakhstani economy.
What do you think about
the investment climate in
Kazakhstan in comparison
with other countries where
Total operates?
rom the moment of inde
pendence the Republic of
Kazakhstan achieved significant
success in implementation
of market-oriented economic
refor ms and in macroeconomic stabilization. Market
refor ms; integr at ion into
the international trade and
investment systems; new draft
laws including Tax Code based
on international standards and
securities market all of that
attracts foreign investors.
Long-term investment requires
sus t ainable polit ical and
economic environment. This
is the main precondition for
dynamic Kazakhstan-French
relations. We have always been
and still are confident that
Kazakhstan possesses high
development potential.

www.total.com

Kazakhstan 2012#2

105

To be Close to the Customer


Interview of Dimitri Propp, Director for Marketing at Knauf Group
enterprises in Central Asia.
As far as we know, in 2001 the Knauf
Company decided to enter Kazakhstans
building materials market with its
products. What led to this decision?
that time the company had believed
in the prospects of Kazakhstan;
the latter was aggressively conducting
market reforms that allowed Kazakhstan
to become one of the most dynamically
developing countries of the CIS. Against
the backdrop of the increasing authority of
the republic in the international arena and
its economic growth, it was quite logical
to set up production and marketing of our
products in Kazakhstan. So we decided to
build a modern plant not far from Almaty
to provide the local market with highquality building materials. The worldclass enterprise was set up in three and
a half years, based on the technological
areas built as far back as in the Soviet
times by Soviet engineers: large-scale
modernization of production was carried

At

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Kazakhstan

out, a new production line for production


of Knauf boards and a line for metal profiles
production were installed, etc.
What strategy was chosen for the
development of Knaufs business in the
country? How has it justified itself?
he Knauf Company always focuses on
the customers interests and needs. By
setting up and developing production in
any country, we implement the principle
To be Closer to the Customer. Knauf
is an international company, which is
based on the best traditions of the
family business; thus, the customer is
regarded by us as a member of the large
Knaufs family. Despite the global scale
of our activities, our company managed
to preserve those values. Entering the
market of any country, Knauf becomes a
domestic manufacturer, which produces
products of the highest quality using local
raw materials and local personnel. That

is why the entrepreneurial philosophy of


Knauf is not to gain quick profit, but to
focus on long-term investments that are
strategically advantageous both to the
company, and the city, region and country
in which it operates.
Before 2004, our company was supplying
to K a z akhs t an buil ding mat er ial s ,
manufactured at Knauf s Russia-based
enterpr ises and also those produced
in Germany and Austria. Later on, the
company set up production in Kazakhstan.
The Knaufs standards are of the highest
quality (control of which is implemented
at all stages of the production cycle),
efficiency, and responsibility. Commitment
to effective and environmentally sound
production process is a key priority of
the companys policy. Regarding social
responsibility, the latter is an integral part
of Knaufs investment and entrepreneurial
activities, as well as constant enhancement
of production.

Knauf regard s popul ar iz at ion of


modern building technologies, training
of architects, designers and builders
in the companys own training centers,
and cooperation with local educational
institutions as important directions in
its activities in Kazakhstan. Thanks to
joint activities between the company and
Kazakhstani universities, an important goal
is achieved: to improve the level of training
of specialists for the construction industry.
I want to emphasize that Knauf operates
stably and effectively in Kazakhstan that
gives the company the possibility to help
the Kapchagai town, to provide social
security to the workers and veterans of the
enterprise, to properly pay taxes, and to
take part in social and cultural development
of the region.
How would you assess the investment
climate in Kazakhstan? What, in your
opinion, should be taken into account
by other German companies which are
interested in setting up a business in
our country?
believe that the Central Asian region, as
a whole, and Kazakhstan, in particular,
are very interesting and attractive for the
development of business. People who keep
watch over the republic and the dynamics of
its development, watch the news and see the
support the Kazakh government provides to
business and raising of investments, should
understand that entering Kazakhstans
market indeed justifies all the efforts
and costs. Potential investors, who see
the prospects and economic growth of
Kazakhstan, if they are really willing to
work and develop their own projects, have
all the chances to achieve success here. The
two countries, Kazakhstan and Germany,
have accumulated a considerable positive
experience of cooperation and mutual
understanding, which plays an important
role in business relationships and give
German businessmen more opportunities
for advancement in the Kazakhstan market.

What is the dynamics of the performance


indicators of your business over the
past five years? Have you managed
to overcome the consequences of the
recession?
should be noted that in 2011 we
f inal ly overc ame al l ne gat ive
consequences and even exceeded the prerecession performance indicators of our
activities. The peak of the recession for

It

our company was in 20082009. At that


time, the turnover of our company (in
comparison with the previous reporting
period) decreased by about 30%. However,
other players in the building materials
market were recorded with a much larger
drop in turnover. For example, that of the
cement producers declined by almost 70%.
For us, the recession became rather a
time for preparing for future growth, when
the foundation for future development is
laid. We have increased the efficiency of
production processes and marketing policy.
Knauf offers a wide range of high quality
building materials for various consumer
groups, the factor that signif icantly
mitigated the impact of the recession on us.
As we know the government of
Kazakhstan pays special attention
to energy conservation. What is the
experience of Knauf in this area and
to what extent is it applicable in our
country?
nauf is one of the few companies in
the world, which products allow you to
more completely implement the principles
of the ecosustainable construction and, in
particular, saving of energy. The rational
and responsible attitude to work begins
at the phase of raw materials extraction
and ends with recycling of end-of-age
materials.
In order to create energy ef f icient
buildings, we offer a variety of systems with
high energy efficiency, both for making the
facades of existing buildings cold proof and
construction of new ones. In this direction,
we developed and offer a whole system of
modern solutions that are easy to install
and effective in terms of energy efficiency.
Thus, currently in the Kazakh construction
industry the Warm Wall system is actively
used. In view of particular interest paid
by the government to the energy saving
issue and its topicality, the application in
Kazakhstan of our newest energy-efficient
building technologies will continue to gain
momentum.

What impact has the creation of the


Customs Union made on the activity of
Knauf in Kazakhstan?
he Knauf Company acquires various
kinds of raw materials and goods from
Russia and Belarus, and, therefore, the
creation of the Customs Union removed
customs barriers and facilitated the supply
of goods.

What is your forecast for the development


of Kazakhstans building materials
market for the next 10 years?
ak ing into account the pace of
cons t r uc t ion in K a z akhs t an , the
demand for building mater ial s w ill
increase significantly. In addition, the
implementation of government initiatives
such as the Program of Modernization
Housing and Communal Services Sector
in Kazakhstan and the new housing
construc t ion program Housing 2020
suggests that in the next decade, largescale construction in the country will grow
steadily.

What are the future plans of


Knauf in Kazakhstan? What new
investment projects are scheduled for
implementation?
intend to win and retain leading
positions in the industry of highquality building materials production,
contribute to the local market development
and further the transition to modern
building technologies and innovative
products. Among our priorities is the
development of vocational education in
the field of construction. Our production
constantly enhances and sales expand. In
general, we strive to ensure that everyone
who wants to build at the best international
standards level will have this opportunity
through our products.

We

www.knauf.kz

Kazakhstan 2012#2

107

K azakhstan Germany

Time to sum up the results


How has theperception of
Kazakhstan by Germany
changed over theyears?
heimage of your country
has changed considerably.
20 years ago Kazakhstan was
considered by us as a young
developing country, thepoorly
developed part of theformer
Soviet Union. That iswhy we
suppor ted Kazakhstan, and
this support was certainly a
success.
Inr e ce n t y e ar s , y o ur
country, relying onour own
strength, made notable
economic progress by
increasing theGross Domestic
Product per capita index from
$600 to $12,000. This isa
stupendous result, especially
when compared with thelevel
of development of other
countries, especially those
inAfrica.
Kazakhstan became a state,
which star ted suppor t ing
other countries inthe region.
Therepublic isthe largest
producer and expor ter of
energy and raw mater ial s,
one of thelargest exporters
of w hea t int he wor l d.
Kazakhstan has an ambitious
program of industrialization.
Currently, theeducational
system isundergoing
reforms, new universities and
institutions and being set
up and educational programs
of other already ex ist ing
ones are being upgraded.
Ininter nat ional polit ics ,
Kazakhstan has become an
important player, which not
only charts its own course,
but al so has considerable
political influence. This isvery
important for a country with
vast geographical area and
relatively small density of
thepopulation. All this makes
Kazakhstan a really important
and respec ted par tner of
Germany.

The Extraordinary and Plenipotentiary Ambassador


of the Federal Republic of Germany, Dr. Guido Herz
was invited as a guest of honor to the event devoted
to the twentieth anniversary of BASFs operation in
Kazakhstan, he kindly agrees to share with the readers of
the Kazakhstan magazine the achievements in bilateral
cooperation between the two countries.
This
year
marks
the
20 th anniversary of the
establishement of diplomatic
relation between Kazakhstan
and Germany. Could You
please summarize the results
of bilaterial cooperation over
the years?
Februar y 20 we
celebrated the20 t h
anniversar y of diplomat ic
relations between Kazakhstan
and Germany; thelatter was
one of thefirst countries that
established diplomatic relations
with your country. Over thepast
20 years, Kazakhstan became
a very important partner for

On

108

l 2012#2l

Kazakhstan

Germany inthe region. Trade


turnover between thetwo
countries exceeds by more than
three times thetotal volume of
trade of Germany with theother
Central Asian states. We have
good relations inall spheres
of thepolitical, economic and
cultural areas.
Thevisit of thePresident
of K a z ak hs t an t o B er l in
onFebruar y 8, 2012, timed
to coincide w ith the20 th
anniversar y of bil ateral
diplomat ic rel at ions w ith
Ger many, emphasizes this
fact. During this visit a very
important agreement inthe

field of raw material resources


and technology transfer was
signed inthe presence of
President Nazarbayev and
Chancellor Angela Merkel.
This opens up new prospects
for our cooperation inthe
coming years, and, of course,
we are ver y pleased that
BASF as thelargest chemical
company inthe world has
been successfully operating
inKazakhstan. I hope, moreover,
I am absolutely sure that BASF
can play a ver y impor tant
role inthe transfer of German
technologies and know-how to
Kazakhstan.

Kazakhstan 2012#2

109

Mercedes-Benz M
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Kazakhstan


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Kazakhstan 2012#2

111

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