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KAZAKH INVEST and Association of European Businesses signed a memorandum of cooperation

Over 30 representatives of European Business participated in the Roundtable dedicated to interaction with the European business community. met at the site of The Ministry of Foreign Affairs of the Republic of Kazakhstan hosted a meeting with representatives of large international companies implementing investment projects in Russia and the Eurasian Economic Union, experts on attracting investments, representatives of investment companies, financial institutions, and credit organizations.

Erlan Khairov, the Ambassador at Large of the Ministry of Foreign Affairs of the Republic of Kazakhstan, representatives of the Association of European Businesses, as well as heads of state agencies and quasi-public sector of Kazakhstan made presentations within the framework of the Roundtable.

An important part of the Roundtable program was the session “Roadshow of regions: opportunities of Kazakhstan and Special Economic Zones”, presenting the investment opportunities of the regions of Kazakhstan. Representatives of KAZAKH INVEST, Samruk-Kazyna Invest, Kazakhstan Investment Development Fund (KIDF) Management Company, Qazindustry Kazakhstan Industry and Export Center, etc. demonstrated their activities as well.

During the event, besides highlighting the investment opportunities of the Republic, negotiations were held with large investors, heads of transnational companies of the Association of European Businesses, the largest representative office of foreign investors in the EAEU. The parties discussed specific steps to develop mutually beneficial cooperation and expand business ties between Kazakhstan and European business.

By the way, the AEB delegation included the heads of large European companies, such as: BASF, BNP Paribas, CMS, Coleman Services UK, Creon Capital, Deloitte & Touche CIS, Kesarev, Merck, Messe Frankfurt Rus, Mitsubishi Electric, Schneider Electric, Siemens Russia and others.

Along with this, as part of the event, a memorandum of cooperation was signed between NC KAZAKH INVEST JSC and the Association of European Businesses to develop close commercial ties and increase the volume of bilateral investments.

“Since independence, Kazakhstan attracted about $340 billion of investments in the economy. Moreover, over 40% of all investments are from the countries of the European Union. Today we are actively working on attracting investments from Europe to the priority sectors of our economy. We are particularly interested in high-technology production in the processing industry with high value-added. We are open to comprehensive cooperation with representatives of European business and are ready to create the most comfortable conditions for the implementation of joint projects”, said Galym Uzbekov, the Deputy CEO of KAZAKH INVEST.

According to the CEO of the Board of AEB, the President of Schneider Electric in Russia and the CIS, Johan Vanderplaetse, the overarching goal of the delegation’s visit was to get acquainted with the investment potential of Kazakhstan:

“Our business mission is a logical continuation of the presentation of Kazakhstan’s investment potential held with the support of the Embassy of the Republic of Kazakhstan and the Trade Mission of Kazakhstan in Russia in June last year. The members the Association of European Businesses were seriously interested in Kazakhstan’s opportunities in business development and investment. First of all, it relates to the Astana International Financial Center, special economic zones. Important factors for European business are the political and economic stability of Kazakhstan, as well as its dynamic development as part of the EAEU unified customs space. We sincerely hope that the AEB business mission will lay a solid foundation for the further development of business of our members in the region, bring additional investments into Kazakhstan and help establish new business contacts”, said Johan Vanderplaetse.

The event was organized by the Ministry of Foreign Affairs of the Republic of Kazakhstan, the Investment Committee, NC KAZAKH INVEST JSC, the Association of European Businesses (AEB).

For reference:

The Association of European Businesses (AEB) is the main representation of foreign investors in Russia. Established in 1995, AEB is an independent non-profit organization representing over 500 companies from the Russian Federation. AEB includes both major transnational corporations as well as small and medium-sized enterprises from countries across the European Union, the European Free Trade Association and other regions of the world.