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Askar Mamin visited the UAE: the pool of new joint projects to exceed $ 6 billion

On 9-10 October, 2021, Prime Minister Askar Mamin made a working trip to the United Arab Emirates.

In Abu Dhabi, the Prime Minister held talks with the Deputy Prime Minister, Minister of Presidential Affairs of the UAE Sheikh Mansour bin Zayed Al Nahyan, as well as with the leadership of state development institutions and holdings of Abu Dhabi Developmental Holding Company (ADQ) and other leading companies of the UAE.

The parties discussed the progress of implementing the agreements reached earlier and the prospects for bilateral cooperation in trade and economic, financial and investment, energy, transport and logistics, agro-industrial and other sectors. Currently, Emirate companies are involved in the implementation of 11 large investment projects in Kazakhstan with a total value of over $ 3.5 billion.

The talks resulted in signing an intergovernmental agreement on the establishment of a long-term strategic partnership to develop projects in priority sectors of the economy. The document is aimed at implementing projects in the energy, agro-industrial, transport and logistics, pharmaceutical and financial sectors of the national economy of the Republic of Kazakhstan with a total investment of over $ 6 billion.

The main partner of Kazakhstan in this agreement will be the Abu Dhabi Sovereign Fund ADQ, widely engaged in processing and mining, agribusiness, transport and logistics, finance, tourism, media and energy sectors. The Fund manages more than $ 175 billion in assets.

As part of the agreement, Samruk - Kazyna JSC intends to establish strategic cooperation with ADQ and create a joint energy holding company to develop renewable and traditional energy.

It is planned to implement joint projects on building solar, wind and hydroelectric power plants in the Republic of Kazakhstan with a total capacity of 5 GW, etc.

Moreover, Kazyna Capital Management JSC and ADQ will establish a joint venture fund worth $ 100 million to finance joint start-up projects in the IT, fintech, agrotech, B2B and B2C, telecommunications, food production technologies, platform solutions and digital transformation, etc.  

ADQ will take part in building a network of wholesale distribution centers in the Republic of Kazakhstan. The company is also considering the possibility of implementing a number of large projects in meat farming, poultry farming and fruit gardening in Kazakhstan.

SK-Pharmacia LLP and Rafed company will cooperate to develop the pharmaceutical industry of the Republic of Kazakhstan.

Within the framework of the visit, the Akimat of East Kazakhstan region, Sembol and Abu Dhabi Development Fund signed an agreement on the basic terms of cooperation in implementing the project to build the Katon-Karagai Tourist Complex in East Kazakhstan region.

Memorandums of understanding were signed between the Ministry of Agriculture of the Republic of Kazakhstan and the Ministry of Climate Change and Environment of the UAE: as well as between the AIFC and the Abu Dhabi Global Market Financial Center (ADGM) and the Abu Dhabi Securities Exchange (ADX).

Furthermore, within the framework of the visit, the postal services of Kazakhstan and the United Arab Emirates carried out a joint issue of two postage stamps on the topic “30 years of Independence of the Republic of Kazakhstan. 50 years of establishing the United Arab Emirates”. Series – “Memorable and Anniversary Dates”.

In Dubai, the Prime Minister visited the international exhibition EXPO 2020 Dubai, where he got acquainted with the national pavilions of Kazakhstan, the United Arab Emirates, the Russian Federation, etc.

The working trip was attended by the Minister of National Economy Aset Irgaliev, the Minister of Agriculture - Erbol Karashukeyev, the Minister of Justice - Marat Beketayev, Akim of East Kazakhstan region Danial Akhmetov, the CEO of Samruk-Kazyna JSC Almasadam Satkaliyev, the Deputy Chair of the Agency for Strategic Planning and Reforms Zhaslan Madiyev, the First Vice Minister of Energy Murat Zhurebekov, the Ambassador of the Republic of Kazakhstan to the UAE Madiyar Menilbekov, the representatives of the business community of the Republic of Kazakhstan, etc.