The Foreign Investors’ Council (FIC) is an advisory body established by the Order of the Head of State (#3985 dated 30 June, 1998) to promote direct dialogue between the Government of Kazakhstan and foreign investors in order to efficiently address key issues related to their investment activities in the country, to improve the investment climate of Kazakhstan for the benefit of foreign investors, local and national companies, the economic development and wealth of the country and its people.

The FIC is chaired by the President of the Republic of Kazakhstan, who supervises its activities, including approval of the Agenda and chairmanship at the Council's plenary sessions.

The major objectives of the Foreign Investors’ Council include:

1. Developing and submitting recommendations to the President and Government of the
Republic of Kazakhstan on key investment and economic development issues, including:

 
- determination of key areas of the investment policy of the Republic of Kazakhstan;
- enhancement of the investment climate in the Republic of Kazakhstan;
- improvement of the legal and regulative framework on investments of the Republic of Kazakhstan;
- creation of favourable investment and legal conditions for the diversification of the economy, development of the industrial sector, small and medium enterprises;
- further integration of the economy of the Republic of Kazakhstan into global economic processes;

2. Analyzing and discussing other core investment policy issues upon the instruction of the President of the Republic of Kazakhstan.

The Republic of Kazakhstan is represented in the Council by the following government officials, according to their relevant positions: the Prime Minister of the Republic of Kazakhstan, the Chairman of the National Bank of the Republic of Kazakhstan, the Deputy Head of the Administration of the Republic of Kazakhstan, the Deputy Prime-Minister of the Republic of Kazakhstan, the Minister of Foreign Affairs of the Republic of Kazakhstan, the Minister of Industry and Trade of the Republic of Kazakhstan, the Minister of Finance of the Republic of Kazakhstan, the Minister of Economy and Budget Planning of the Republic of Kazakhstan, and the Head of the Executive Body of the Council (Chairman of the Committee on Investments of the Ministry of Industry and Trade of the Republic of Kazakhstan).

The foreign side of the Council is represented by top managers of international organizations, economic and financial institutions, foreign companies and corporations.

The Committee on Investments of the Ministry of Industry and Trade of the Republic of Kazakhstan is a working body of the Council. The Kazakhstan Foreign Investors’ Council Association (KFICA) is the coordinator of the Council’s activities from the foreign side.

FIC has the following five joint working groups with membership of government officials of the Republic of Kazakhstan, representatives of international organizations and foreign companies: Investment Image Enhancement Working Group (IEWG); Legal Working Group (LWG); Taxation Working Group (TWG); Oil & Gas Working Group (OGWG) and Operations Working Group (OWG). FIC working groups are very active in analyzing different aspects of investment activities and providing relevant recommendations to the Council members and state bodies of Kazakhstan. The working groups have regular meetings and report on their activities at the FIC interim and plenary sessions.

The Plenary Sessions of the Council are conducted twice a year. Since its foundation, 21 plenary sessions under the chairmanship of the Head of State have taken place. In addition, twice a year interim sessions of the Council chaired by the Deputy Prime-Minister or the Minister of Industry and Trade are held.

A wide range of issues of importance to the foreign investors’ community of Kazakhstan is raised at the FIC interim and plenary sessions, including: different aspects of Kazakhstan’s investment image enhancement; the judicial reform in the Republic of Kazakhstan; optimization of taxation and tax administration system; improvement of the legal environment for foreign investment in the country; insurance of investments from political and regulatory risks; development of the Caspian region’s infrastructure; industrialization and diversification of Kazakhstan’s economy; Kazakhstan’s role in the regional economic development of Central Asia; the issues of Kazakhstan’s WTO accession; combating bureaucracy and corruption; developing the education system and human capital of Kazakhstan; environmental protection and sustainable development; power sector development; enhancing local content in Kazakhstan's industries' development, Alternative sources of financing for Kazakhstan's economic development, and many others.

Based on the results of the plenary and interim sessions of the Council, the Minutes, outlining major decisions on enhancement of the investment climate in Kazakhstan, are adopted. These decisions are binding for relevant ministries and agencies of the Republic of Kazakhstan.