Kazakhstan attracting German investments

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ASTANA (TCA) — A Kazakhstan investment conference will take place in Frankfurt am Main, Germany on November 23 and the Kazakh-German Business Council will meet on December 7. Organization of these events was discussed at a meeting of the Chairman of the Board of Kazakh Invest national investment support and promotion company Saparbek Tuyakbayev with the Ambassador of Germany to Kazakhstan Tilo Klinner in Astana last week. During the meeting the parties discussed cooperation in attracting German investments in priority sectors of Kazakhstan’s economy, Kazakh Invest reported.

During the meeting Saparbek Tuyakbayev noted that Germany is included in the list of 11 priority countries to attract investment, in particular in the food industry. Today, the teasers of niche projects in the fields of poultry, beef processing, baby food and sweets are underway by Kazakh Invest. To implement these projects, the company is ready to offer German businessmen reliable partners represented by domestic entrepreneurs. The Chairman noted that Kazakhstan offers investors access to vast external markets. For example, neighboring China imports 7 million tons of meat annually. This is a potential market for meat products produced in Kazakhstan, which in turn has a large volume of raw materials.

The Chairman of Kazakh Invest offered to use financial instruments of the Development Bank of Kazakhstan and the Kazakh Export National Company to attract export-oriented investors and expressed willingness to assist current investors in their activities in the regions.

The parties considered possibility of further cooperation in the fields of metallurgy, mechanical engineering, chemical industry and infrastructure projects. It is planned to attract German business to Kazakhstan for projects of public-private partnership and infrastructure prepared by PWC and Deloitte.

Sergey Kwan

TCA