Kazakhstan backs participation of Chinese cos in joint projects.

22/2 Tass 176

BEIJING, February 22 (Itar-Tass) - Kazakhstan is creating comfortable
conditions for doing business and backs the participation of Chinese
companies in various joint projects, Kazakhstan's President Nursultan
Nazarbayev said at a meeting with representatives of the Chinese business
community on Tuesday.
"We are changing our laws to optimize the authorization system and
minimize financial costs. There is an agreement on the encouragement and
protection of mutual investments," Nazarbayev said.
According to the Kazakh president, hundreds of projects in such
industries as metallurgy, construction, chemical industry, pharmaceutics,
energy, engineering, infrastructures and oil processing will be financed
within the framework of the country's industrialization program. "These
projects are very important for us, and we will be glad if Chinese
companies join in," Nazarbayev said.
He also said that "Kazakhstan's favorable investment climate and
developed banking and financial system offer good opportunities for
Chinese businesses' active involvement in Kazakh projects."
"I hope the result of our meetings today will be more intensive
integration and economic processes between businesses. We have all the
needed resources and political will of both countries for this in place,"
Nazarbayev said.