Kazakhstan and Luxembourg expand economic cooperation
Luxembourg, September 21, 2021 - the event on “Invest in Kazakhstan” took place at the initiative of the Embassy of Kazakhstan in Brussels. It was organized jointly with the National Company KAZAKH INVEST, the Honorary Consulate of the Republic of Kazakhstan in Luxembourg, with the assistance of the Luxembourg Chamber of Commerce.
The event was attended by the Representative of the National Company KAZAKH INVEST in Europe, staff members of the Luxembourg Chamber of Commerce, the Ministry of Economy of Luxembourg, the Honorary Consulate of the Republic of Kazakhstan in Luxembourg, as well as the business circles of Luxembourg.
In his speech, Ambassador Counselor of the Embassy M. Andabayev highlighted the high level of Kazakhstan-Luxembourg relations and invited Luxembourg companies to participate in joint investment projects using high-tech solutions in the digitalization, IT, aviation, space industry and financial-banking activities, where Luxembourg is recognized as one of the world leaders. Then, the Kazakh diplomat presented to the participants the key points of the Address of President K. Tokayev to the people of Kazakhstan “The unity of the people and systemic reforms are a solid basis for the country's prosperity”, concerning socio-economic issues.
Ainur Tumysheva, a representative of the National Company KAZAKH INVEST in Europe, presented the trade and investment potential of Kazakhstan, primarily focusing on projects in the processing industry.
“In 2020, Kazakhstan attracted almost $ 4 billion of foreign direct investment. This indicator increased by almost 35% over the previous year, as noted in the World Investment Report of the United Nations Conference on Trade and Development (UNCTAD). According to the UNCTAD rating, among all landlocked countries, Kazakhstan took the 1st place in terms of net inflow of direct investment. This growth was achieved by investments in the sectors such as processing industry, transport, telecommunications, financial activities, energy, and the mining complex. - said A. Tumysheva.
In turn, Steven Koener, Senior Adviser on International Relations of the Luxembourg Chamber of Commerce stressed that the Chamber of Commerce and Industry has been active in setting up opportunities and tools for bilateral cooperation. He also noted that Luxembourg companies have already been working in Kazakhstan and the Luxembourg Chamber of Commerce and Industry is ready to continue to assist Luxembourg companies.
The Embassy of Kazakhstan takes active efforts to attract foreign investors by holding various events and presenting the economic advantages of the Kazakhstan market.