General Information about Foreign Investors Council

Chaired by the President of the Republic of Kazakhstan

The Foreign Investors' Council (FIC) Chaired by the President of the Republic of Kazakhstan was established by the Order of the Head of State #3985 dated 30 June, 1998, to provide direct dialogue with investors, working in Kazakhstan, and to efficiently address the key issues related to investment activities.

The Council is a consultative-advisory body. The FIC is chaired by the President of the Republic of Kazakhstan, who supervises its activities, including Agenda approval and chairmanship on the Council's sessions.

The Republic of Kazakhstan is represented in the Council by the Prime Minister, Chairman of the National Bank, the Minister of Foreign Affairs, Minister of Industry and Trade, Minister of finance, Minister of Economy and Budget Planning and the Chairman of the Committee on Investments of the Ministry of Industry and Trade and the Chairman of Inter-Departmental Commission on Consideration of Foreign Investors' Appeals according to their relative positions.

The foreign party is represented in the Council by a number of top managers of international financial organizations and foreign companies.

Representatives of companies and organizations, which are not members of the Council, can be invited to the Council sessions.

The FIC comprises five joint working groups - on taxation, legislation, operations of foreign investors, investment image enhancement of the Republic of Kazakhstan, and oil and gas sector issues of the Republic of Kazakhstan.

The Committee on Investments of the Ministry of Industry and Trade of the Republic of Kazakhstan is a working body and the major coordinator of Council's activities. The Committee, as required, may introduce proposals for consideration by the President of the Republic of Kazakhstan concerning changes up to one-third of the membership of the Council foreign members, taking into account recommendations of industrial and business associations of foreign investors, and embassies of the states, accredited in the Republic of Kazakhstan.

The Sessions of the Council are conducted once or twice a year. Since its foundation, thirteen plenary sessions under the chairmanship of the Head of State have been held: September 25, 1998; June 2, 1999; December 3, 1999; December 8, 2000; June 13, 2001; December 15, 2001; July 05, 2002; December 06, 2002; July 05, 2003; December 06, 2003; June 04, 2004; December 10, 2004; and June 17, 2005.

In addition, interim sessions of the Council are conducted on a regular basis, and working group meetings are organized. Upon the results of the plenary and interim sessions of the Council, protocol decisions are made on enhancement of the investment climate in the Republic of Kazakhstan, which are binding for the ministries and agencies.

The major objectives of the Foreign Investors Council Chaired by the President of the Republic of Kazakhstan are as follows:

1.       To submit to the President of the Republic of Kazakhstan for his consideration proposals to improve the laws regulating investment activity issues, proposals on the issues related to the implementation of investment programs and projects in the Republic of Kazakhstan of great international significance.

2.       To draft recommendations for the improvement of the investment climate, and also for the strategy to attract foreign investments into the economy of the Republic of Kazakhstan.

3.       To develop proposals on the integration of the country's economy into global economic processes.

At the Sessions of the Council, a wide range of issues is discussed, including the following:

  • Enhancement of the investment image of the Republic of Kazakhstan;
  • Judicial reform of the Republic of Kazakhstan;
  • Enhancement of taxation and tax administration system;
  • Promotion of transparency of legislation drafting process;
  • Licensing of foreign labor import;
  • Preventing of conflicts and extrajudicial resolutions of investment disputable issues;
  • Coordination of tariff policy with the neighboring counties and transport tariffs;
  • Simplification of procedures on departure and arrival of managing board of foreign companies;
  • Combating bureaucracy and corruption;
  • Insurance of investments from political and regulatory risks.

Foreign Membership of Foreign Investors Council Chaired by the President of the Republic of Kazakhstan

Jean Lemierre

 

President, European Bank for Reconstruction and Development

Franciscus Cornelis Kuijlaars

 

Managing Director, Head of Integrated Energy CEEMEA, ABN AMRO Bank N.V.

James Hitch III

 

Managing Partner, Baker & McKenzie - CIS Ltd.

Frank Chapman

 

Chief Executive, BG Group

Tessen von Haidebrek

 

Member of Board of Directors, Deutsche Bank

Mustafa Koc

 

Chairman of the Board, Koc Holding Corporation

Lakshmi Mittal

 

Chairman and Managing Director, LNM Group/Ispat International

Masayuki Takashima

 

Senior Executive Vice President, Mitsubishi Corporation

Woo Taik Chung

 

President, Samsung Corporation

Christophe de Margerie

 

Executive Vice-President, President of Exploration and Production, Total

Peter Robertson

 

Vice Chairman, Chevron Texaco Corporation Corporation

Hans Jochum Horn

 

Managing Director, Ernst & Young CIS Ltd.

Mashkevich,
Alexander Antonovich

 

President, Eurasian Industrial Association

Richard Evans

 

Chairman of the Governing Board, BAE Systems

Alekperov
Vagit Yusufovich

 

President, LukOil OJSC

Len Blavatnik

 

President, Access Industries, Inc.

Rex Tillerson

 

President of Exxon Mobil Corporation

Stefano Cao

 

Chief Operating Officer, ENI Exploration and Production