Principle "earn here - spend there" no longer has the right to exist - Tokayev

In modern conditions, when the struggle for foreign investment has intensified, we need to rely much more on domestic reserves. Of course, we are talking about the funds of domestic companies. If you link your future specifically with Kazakhstan, then you must reinvest your funds in our country. This is your social and political responsibility to Kazakhstan. The principle "earn here - spend there" no longer has the right to exist," Tokayev said.

This is the return of capital to the country or the stimulation of the return of capital, as well as setting up a barrier to the outflow of funds to offshore. Such mechanisms are used in many countries of the world. We should also move in this direction. Here we need to understand how to involve our banks in this work. Funds should go into the real economy, and not into speculation in the market. What needs to be corrected in the regulatory market so that our bankers finally begin to fulfill their direct function and lend to real business projects? This is a difficult question, I understand, but it needs to be resolved. Now it is the main brake of economic reforms," Tokayev concluded.