Kazakhstan and Britain discuss investment projects

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ASTANA (TCA) — Investment opportunities of Kazakhstan were presented at a seminar in London, held at the headquarters of the consulting company British Expertise International with the support of the Embassy of Kazakhstan in the UK, Kazakh Invest National Company for Investment Support and Promotion reported on May 2.

Heads of leading British and international corporations, such as Aggreco, Alaco, UK Export Finance, JP Morgan, Rothschild Capital Group, DMT Consulting, JCB, Worley Parsons, IPC, EBRD, Mobsby Associates, TVET UK, Advantix Ltd, CBRE, Ricardo Energy, SP Angel, Paramount Powders, Crown Agents, Cundall, John Wiley & Sons, Rattan Power, The D Group, as well as representatives of British state bodies, expert and academic circles took part in the seminar organized by Kazakh Invest and the company London Infrastructure.

The Kazakh delegation was headed by the chairman of Kazakh Invest, Saparbek Tuyakbaev.

In his welcome speech, Tuyakbaev spoke about the investment climate in Kazakhstan and the prospects for implementing business projects in the country. In particular, the participants of the event were provided with detailed information on business opportunities, legislative support, competitive advantages for attracting foreign investments, and were demonstrated top 50 priority investment projects approved by the Government. Tuyakbaev called on British businessmen to take an active part in the implementation of projects in Kazakhstan.

The British companies expressed interest in infrastructure projects implemented by the Kazakh side in the framework of the Chinese initiative One Belt, One Road. British businessmen showed a special interest in projects in the fields of agriculture, mining, engineering, renewable energy, as well as IT, digital economy, e-government, petrochemicals, processing industry, education, and healthcare.

According to Vomic Nur Shah, the Regional Head for CIS and Asia at UK Export Finance, “the dynamics of bilateral trade cooperation between Kazakhstan and Great Britain has a positive trend; the volume of financing for projects with Kazakhstan has been increased from £1.25 billion to £3 billion with the possibility of receiving financing in tenge.”

Ambassador of Kazakhstan to Great Britain, Erlan Idrissov said: “Kazakhstan is becoming more open and attractive country for doing business with a favorable investment climate. Large-scale changes are taking place in the country, allowing Kazakhstan to become one of the most convenient countries for investors in the future. A striking example of consistent reforms is the introduction of the principles of British law into the structure of the Astana International Financial Center and the establishment of rules for doing business in accordance with the best world standards.”

The Trade Envoy of the Prime Minister of Great Britain for Kazakhstan, Baroness Emma Nicholson, noted the successful cooperation of Great Britain and Kazakhstan in the implementation of investment projects, including in the areas of financial services, agriculture, mining, and food industries.

The visit of the Kazakh delegation continued with a series of bilateral talks with British colleagues. For instance, on the sidelines of the event the project “Construction of distribution networks of drinking water of national importance” was discussed in detail, agreements were reached on joint implementation of the project, the preliminary cost of which is about $2 billion, and initial documents were signed.

Sergey Kwan

TCA