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.
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.
Erlan Dosymbekov, Co-Сhair 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. Countries compete for FDI, and Kazakhstan needs to differentiate itself from other rapidly growing markets of similar size and prominence. To achieve this objective the country needs an internal and external marketing plan across various layers, including focused government communication to target investors from specific 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 country’s strategic goals. A targeted investor communication policy 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 video 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 website’s 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 supports ongoing communication between existing and prospective investors, including the publication “Success stories: 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 projects related to enhancement of communication with 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.