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Slovak companies called upon to invest in Kazakhstan

The Kazakhstan-Slovak Roundtable addressed the prospects for cooperation in different sectors of industry, aviation, energy. The event was organized by the Ministry of Foreign Affairs of the Republic of Kazakhstan, the Embassy of Kazakhstan in Slovakia, NC KAZAKH INVEST JSC, with the support of the Ministry of Economy of the Slovak Republic. 

The Roundtable was attended by about 50 foreign and Kazakhstan companies, as well as representatives of Ministries, Departments and National Companies.

Within the framework of the Roundtable, the parties paid special attention to the issues of further development of trade and economic cooperation between the two countries as well as practical aspects of doing business.

The Slovak side emphasized the availability a favorable investment climate and conditions for business development in Kazakhstan. During the event, the Kazakh side presented new measures and state policy to support investors, the possibilities of special economic and industrial zones of the Republic of Kazakhstan, as well as the country's potential in the mechanical engineering, metallurgy, energy, etc.

Opening the event, the State Secretary of the Ministry of Economy of the Slovak Republic, Karol Galek, positively assessed the pace of economic growth in Kazakhstan, high investment attractiveness, and also noted the increasing interest from the Slovak business.  

Altynai Mukanova, a representative of NC KAZAKH INVEST JSC, briefed on the business climate in Kazakhstan, as well as its investment opportunities. In her speech, she also acquainted the participants of the event with the achievements of Kazakhstan in economic development, promising areas of Kazakhstan-Slovak trade and economic cooperation, as well as steps taken by the Government of the Republic of Kazakhstan to further improve the investment climate in the country.

“Over the past few years, Kazakhstan has carried out a number of large-scale reforms, adopted the necessary amendments to the Tax, Business and Customs Codes, which contribute to the systematic diversification of the economy and the creation of favorable conditions for successful business. Having studied the best international experience, Kazakhstan offers comprehensive support to investors, including the provision of in-kind grants, exemption from taxes, customs duties, and so on. At the same time, experts of KAZAKH INVEST are ready to provide a full range of services to implement investment projects in Kazakhstan,” Altynai Mukanova said.

For their part, the representatives of Slovak companies briefed the participants on the scope of their activities, presented a vision for the further development of Kazakhstan-Slovak investment cooperation, as well as expressed interest in the implementation of new joint projects.

Furthermore, the Kazakhstan-Slovak Intergovernmental Commission on Trade, Economic, Industrial, Scientific and Technical Cooperation took place within the framework of the visit of the Kazakhstan delegation to Bratislava.

Following the results of the plenary session of the IGC, Talgat Mukhanov, Head of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan, and Osin Mamatkulov, a representative of the Slovak company Heneken, signed a memorandum of understanding.

For reference: Heneken is a group of companies specializing in the metallurgy, logistics, mechanical engineering, production of building materials and energy. The group includes 3 production facilities in Slovakia - Heneken Melt (aluminum plant), Heneken Conductors (cable plant), Heneken Mazak (zinc alloy plant). Heneken Group is the largest producer of recycled aluminum and zinc alloys in Slovakia with an annual capacity of 50,000 tons.

During the working trip, KAZAKH INVEST also held B2B meetings with the leadership of Slovak companies. In particular, projects were discussed with Progubas in the energy sector, with Techniserv and Shark Aero in the aviation sector, and with Heneken on a potential project in the metallurgy.

It should be noted that Slovakia is one of the potential trade partners of the Republic of Kazakhstan in Europe. The trade turnover between the two countries in 2021 amounted to about $84 million, which is 20.9% higher the same period of the previous year ($69.5 million). The total volume of Slovak investments in the economy of Kazakhstan for the period from 2005 to 2021 amounted to almost $ 20 million.