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JSC ECONOMIC RESEARCH INSTITUTE

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The Economic Research Institute was funded by Government of Kazakh SSR decree in May 1961 according to the state plan of Kazakh SSR. Ministry of Economic Development and Trade of the Republic of …

The Economic Research Institute was funded by Government of Kazakh SSR decree in May 1961 according to the state plan of Kazakh SSR. Ministry of Economic Development and Trade of the Republic of Kazakhstan is a sole shareholder.
The Institute has 7 research centers which major areas of research are: macroeconomic analysis and forecast, applied economical and mathematical research, economic research expertise, strategic elaboration and economic research, performance evaluation of public bodies’ activities, entrepreneurship development and regional policy.

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  • 1. The role of the Economic Research Institute in socio-economic development of Kazakhstan
  • 2. KEY HIGHLIGHTS Kazakhstan: Country Overview GDP per capita:  US$ 12 000 GDP growth:  5% in 2012 and projected 6% in 2013 Currency:  Tenge, KZT (US$1 ≈ KZT147) Sovereign Credit Ratings:  Standard & Poor’s ― BBB+/Stable (achieved rating upgrade in November 2013)  Moody’s ― Baa2/Stable  Fitch ― BBB+/Stable 2 Area:  2.7 million square km (1.1 million square miles)  9th biggest country in the world Capital:  Astana Population:  16.9 million people at 01 March 2013 Language:  Kazakh is the official language, Russian is of inter-ethnic communication Key ethnic groups:  Kazakh (63.1%), Russian (23.7%)  Stable political and macroeconomic environment: GDP grew from 11 billion U.S. dollars in 1993 to 203 billion U.S. dollars by the end of 2012.  Competitive geographic location: Located at a unique cross-roads between Europe, three BRIC countries (Russia, India, China) and the Middle East KEY MACRO STATISTICS
  • 3. 2009 2010 2011 2013 2014 2017 Congress of World Religions(since 2003 every 3 year) OSCE Summit in Astana Organization of Islamic Cooperation Astana Economic Forum (since 2007, every year) 47th Annual Meeting Board of Governors ADB EXPO 2017 2008 Eurasian Media Forum (since 2002 every year) 7th Winter Asian Games The 7th World Islamic Economic Forum World Anti-Crisis Conference Major Hosting Events Annual Meeting Board of Governors EBRD WORLD WINTER UNIVERSIADE ALMATY 2017
  • 4. 120 87 48 49 29 15 2 1 0 50 100 150 Russia Italy Slovak Republic Kazakhstan France Australia Hong Kong Singapore KAZAKHSTAN GLOBALLY Ease of Doing Business: 47/183 Global Competitiveness: 51/144 Source: Global Competitiveness Report 2012-13, WEFSource: Doing Business 2012, WB 100 73 67 51 43 29 7 1 0 50 100 150 Tajikistan Ukraine Russia Kazakhstan Turkey China United States Switzerland Legatum Prosperity Index: 46/142 Source: Legatum Prosperity Index Report 2012 89 86 66 46 21 14 12 1 0 20 40 60 80 100 Turkey Tajikistan Russia Kazakhstan France Germany United States Norway
  • 5. Investments 6 FDI IN KAZAKHSTAN, million US$ TOP 10 INVESTORS IN KAZAKHSTAN, 2006 – 2012 Sources: the National Bank of Kazakhstan, the Agency on Statistics Total FDI inflows US$ billion Total, US$ bn Netherlands 43,1 USA 25,3 UK 11,7 France 10 China 7,8 Russia 6,4 Switzerland 6,3 Italy 5,8 Canada 5,5 Japan 4,4  According to the World Bank, Kazakhstan is among the top twenty the most attractive countries in the world for investment .  Since its independence, Kazakhstan has attracted over US$ 160 billion in FDI, half of which has been invested during the last three years.  Destination to 80% of total FDI per capita to the countries of Central Asia.  The largest investors to Kazakhstan’s economy are the Netherlands, USA, UK, France and China.  The volume of investment in fixed assets consisted of about 36 billion dollars in 2012. Annual investment per capita is amounted to 2.2 thousand U.S. dollars. KEY HIGHLIGHTS 2,781 4,557 4,106 4,624 8,317 6,619 10,624 18,453 19,760 19,017 19,059 21,056 22,469 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 INVESTMENT IN FIXED ASSETS 27,682.0 35,005.7 31,109.6 31,583.2 34,171.1 36,585.4 1,788.0 2,233.7 1,932.9 1,935.0 2,063.8 2,194.0 0 500 1000 1500 2000 2500 0 10000 20000 30000 40000 50000 60000 2007 2008 2009 2010 2011 2012 Инвестиции в основной капитал, млн. долл Инвестиции в основной капитал на душу населения, долл. Investment in fixed assets, mln. US$ Investment in fixed assets per capita US$
  • 6. STAGES OF DEVELOPMENT Stages of development Reforms Dynamic growth Economic reforms Industry development Investment 1991 - 2000 State investment Industrial Policy Industrial policy, Industry zones Competitiveness 2001 - 2010 2011 - 2020 Quality of production and efficiency Economy Market transformations Priority sectors Innovation policy Scientific Technological Infrastructure, techno parks Economy modernization, human capital Public-private partnership Foreign and state investments Creation of favorable investment climate, Clusters Protection of internal seсtors Reference point on basic researches, Reform in Science Technology transfer, R&D 2021 - 2050 Innovation stage Smart economy Knowledge economy Private sector, world finance Innovation clusters, International cooperation National innovation system
  • 7. 9 special economic zones are created - points of growth with special conditions for investment, technology parks, and industrial zones. REGIONAL BUSINESS HUB • 0% Corporate Income Tax until 2020-2025 with possibility for extension • 0% for land and property tax until 2020-2025 with possibility for extension • VAT– 0% (for products consumed in SEZ) until 2020-2025 with possibility for extension • Increase of marginal rate of depreciation for tax on the production of software to 40% • For SEZ “Innovation technopark” – social tax is 0% for 5 years, under certain conditions • For SEZ “Innovation technopark”– depreciation rate for software increased to 40 % • Provision of free land in SEZ for a period of up to 10 years from registration time as SEZ resident • Simplified procedure for the recruitment of foreign labor SEZ «Burabay» Development of Tourism SEZ «Qaraghandy» Development of chemistry and petrochemistry SEZ «Pavlodar» Development of Metallurgy SEZ «Astana -- New city» Development of capital’s administrative center SEZ «Ontystik» Development of Textile SEZ «Khorgos» Development of logistics SEZ «Sea Port Aqtau» Development of new sector SEZ «PIT» Development of IT SEZ «Petrochemical park» Development of petrochemical production FISCAL INCENTIVES in SEZs NON-FISCAL INCENTIVES
  • 8. Gate to China, India and South-East Asia Gate to Russian and European market • Strategic location between European and Asian business centers • Main transit area in the region • Surrounded by attractive markets – China and Russia • 3 out of 4 Eurasian rail corridors go through Kazakhstan Location features NEW SILK WAY: Gateway between Europe and Asia •The creation of modern transportation and logistic centers provide access to international markets and international infrastructure integration. •The construction of the international highway through the territory of Kazakhstan “Western Europe – Western China” is due in completion in 2015. •In the East “Khorgos-Eastern Gate” project is aimed at improving trade relations with the rapidly growing region of South- East Asia and China.
  • 9. Strategy “Kazakhstan-2050” PROSPECTS OF KAZAKHSTAN • To enter the club of TOP 30 developed countries of the world in 2050 • Social modernization on the principles of inclusive development, quality of life and development of human capacity • An innovation-oriented model of development based on the principles of "green economy“ • Balanced internal regional development • Active international collaboration and cooperation
  • 10. MISSION ECONOMIC RESEARCH INSTITUTE PROMOTING ECONOMIC PROSPERITY AND IMPROVING KAZAKHSTAN'S COMPETITIVENESS Economic Research Institute was funded by Government of Kazakh SSR decree in May 1961 according to the state plan of Kazakh SSR Ministry of Economic Development and Trade of the Republic of Kazakhstan is a sole shareholder
  • 11. STRUCTURE ECONOMIC RESEARCH INSTITUTE The Institute has 7 research centers focused on major areas of research  Scientific and methodological support to the system of public planning;  Assessing the competitiveness level of Kazakhstan economy by the methodology of International Institute for Management Development.  Analysis of impact and estimation of macroeconomic effects of involving Kazakhstan into integration processes.  Influence of provisions of the bill on macroeconomic performance;  Influence of provisions of the bill on social development;  Influence of provisions of bill on the development of entrepreneurship;  Influence of provisions of bill on competitiveness parameters of sectors and economic security of the country.  State support of private entrepreneurship in the Republic of Kazakhstan;  Analysis and estimation of industrial and innovational policies and their impact on investment climate.  Elaboration of conceptual propositions on regional policy. CENTER FOR STRATEGIC ELABORATION AND ECONOMIC RESEARCH CENTER FOR ECONOMIC RESEARCH EXPERTISE CENTER OF MACROECONOMIC AND APPLIED ECONOMICS - MATHEMATICAL RESEARCH  Development and maintenance of economical and mathematical models;  Conducting applied calculations in the sector of economics. CENTER OF THE WORLD ECONOMY AND INTEGRATION RESEARCH CENTER FOR PERFORMANCE EVALUATION OF PUBLIC BODIES’ ACTIVITIES  Expert - analytical, methodological and organizational support to the System for annual performance evaluation of public bodies. CENTER FOR ENTREPRENEURSHIP DEVELOPMENT CENTER FOR SOCIAL AND REGIONAL RESEARCH
  • 12.  Founder of the "Eurasian Economic Club of Scientists“ Association  Organizer of the Astana Economic Forum  Member of the International Association of Regional Studies  Member of 3 Committees UN European Economic Commission  Member of the International School of Assessment  The main partner for research in the framework of UNIDO United Nations (UN)  Exclusive partner of the International Institute for Management Development (IMD)  Partner of the Central Asian Regional Economic Cooperation (CAREC)  Partner of the Economic Cooperation Organization (ECO)  Official representative of the International Union of Economists of the Republic of Kazakhstan INTERNATIONAL COLLABORATION INSTITUTE IS A PARTNER OF MORE THAN 80 ORGANIZATIONS OF THE WORLD ECONOMIC RESEARCH INSTITUTE