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Relocation of foreign companies to Kazakhstan

43 large foreign companies are ready to relocate their businesses to Kazakhstan in the light of the current geopolitical situation in the Eurasian region.

This was announced by the Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Almas Aidarov at the opening ceremony of the assembly plant of the US-based Honeywell in Almaty.

The American corporation Honeywell is one of them. The Company is among the Fortune 100 world's leading companies, has representative offices in 70 countries with more than 110,000 employees worldwide.

“We highly appreciate Honeywell's contribution to the development of the oil and gas sector in Kazakhstan. Since 1998, the Company has been our close partner in the field of automation and artificial intelligence in a number of oil production and refining projects. The Company has been moving towards the launch of localization initiatives in Kazakhstan for a long time. In light of the current geopolitical situation, the Company is considering opening a regional representative office here in the Republic of Kazakhstan. Foreign companies that, for one reason or another, leave the Russian market, declare their desire to maintain their influence in the Eurasian space. In any case, big players need to be based somewhere. And there are 265 such targeted companies today,” Almas Aidarov said.

Today, the Ministry of Foreign Affairs of the Republic of Kazakhstan, the Embassies of Kazakhstan abroad and NC KAZAKH INVEST JSC are conducting negotiations with interested companies. The work carried out by the Government of Kazakhstan to improve the investment climate as well as the investor protection system is already indicated by the high positions of our country in the international ratings.  

Kazakhstan remains one of the key investment partners among the countries of Central Asia, having managed to return to the pre-pandemic level in attracting foreign investment.

Last year, foreign partners invested about $24 billion in the economy of Kazakhstan, which is 38% more than a year earlier ($17.2 billion). It is noteworthy that over 60% of foreign investment is already in the non-primary sector of the economy.

In turn, President of Honeywell in Central Asia, Turkey and Israel Uygar Doyuran stressed that the Kazakhstan market is important for the company, and the opening of a plant here in Kazakhstan will strengthen its position in the Central Asian market.

“Our assembly site in Almaty, the first of its kind for ICSS production in Kazakhstan, provides an additional foundation for expanding domestic production capacity to create advanced industrial automation systems in the country. This landmark opening highlights our commitment to advancing Kazakhstan's localization plans and will provide quick and easy access to advanced automation and critical safety technologies in the country's petrochemical, oil and gas industries,” said Uygar Doyuran.

There is no doubt that the localization of the manufactures of such an international company as Honeywell will strengthen Kazakhstan's position as an attractive investment partner.