Modernization crucial for industrial development - Kazakh leader

ASTANA (Itar-Tass) - Kazakhstan's President Nursultan
Nazarbayev said modernization and renewal of companies are crucial for
further development of the republic's industry. He was speaking at the
opening of the 24th plenary session of the Foreign Investors' Council
(FIC) under the Kazakh president.
"The theme of today's session is modernization and renewal of Kazakh
companies. It is a very important and pressing issue for us, because it is
essential for further development of our industry," he underlined.
Since Kazakhstan gained independence and launched radical
socio-economic and political reforms, "the country has been purposefully
moving along the way of building a market economy, based on private
property and free competition. Over this time, it has created favourable
conditions for business and investments in the economy of our country."
The president reminded that the republic launched intensive
industrialization from 2010. "The government has been given the ambitious
tasks to raise labour productivity by 50 percent by 2015 in the processing
sector and by 100 in other sectors of the economy, within the framework of
the implementation of the state program of intensive industrial-innovative
development in 2010-2014."
Nazarbayev thanked the forum guests who arrived on his personal
invitation from European states: former Polish President Alexander
Kwasniewski and former Prime-Ministers of Great Britain and of Italy -
Tony Blair and Romano Prodi. He noted their significant contribution to
the establishment of friendly and honest partnership relations with
Kazakhstan.
"We'll always value these relations and are ready to continue to
develop our cooperation with concrete deeds and projects," he said.
Among members of the Foreign Investors' Council are president of the
European Bank for Reconstruction and Development Thomas Mirow; President
of the Board of Directors, CEO, ArcelorMittal Lakshmi Mittal; LUKOIL OJSC
president Vagit Alekperov and other prominent business people and
entrepreneurs.
The Council is a consultative body, set up under presidential decree
in June 1998. It has to ensure direct dialogue between the Kazakh
government and investors who hold assets in the republic, for quick
solution of problem issues, related to their investment activities and for
improvement of the investment climate in the republic.