Kazakhstan regions present investment opportunities in Germany’s Bavaria

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ASTANA (TCA) — An economic forum “Investment Opportunities for German Companies in Kazakhstan Based on the Example of Regions” was held on September 12 in Munich, the capital city of Bavaria, one of the largest and industrially developed regions of Germany. The event was aimed at attracting German investments and technologies to the economy of Kazakhstan and was organized by Kazakh Invest National Company for Investment Support and Promotion with organizational support of the Kazakh Embassy in Germany, Kazakh Invest reported.

The German side was represented at the forum by Franz Josef Pschierer, the Minister of Economy and Technologies of Bavaria, Eberhard Sasse, the President of the Commercial and Industrial Chamber of Munich and Upper Bavaria, members of the Bavaria federal land government, representatives of economic associations of the German region, as well as managers of around 90 German and Bavarian companies.

The Kazakhstani delegation was represented by Bolat Nussupov, the Ambassador of Kazakhstan to Germany, Marat Birimzhan, the Deputy Chairman of Kazakh Invest, Zhasulan Suyunchaliyev, the Deputy Governor of Atyrau region, officials from Almaty and Kostanay regions, and representatives of industrial enterprises from Zhambyl and West Kazakhstan regions.

In his greeting speech Ambassador Nussupov told the forum participants about economic reforms that contribute to improvement of the investment climate in Kazakhstan and ensure the protection of entrepreneurs’ rights.

Minister Franz Josef Pschierer emphasized the increased role of Kazakhstan as a key commercial and economic and political partner of Germany in Central Asia. In his words, the Bavarian business is ready to increase its presence at the Kazakhstani market and actively participate in new trends and projects on digitalization of economic structures, energy revolution, and transformation of the global labour market based on the experience of the federal land of Bavaria.

Kazakh Invest’s Marat Birimzhan presented key investment projects in the priority branches, as well as detailed information on the opportunities for running business in Kazakhstan, on legislative support, competitive advantage for attraction of foreign investments in the context of the Development Strategy Kazakhstan-2050.

The forum included presentations of economic opportunities of Almaty, Atyrau, and Kostanay regions of Kazakhstan with concrete projects for potential investors from Bavaria.

At the event, Kazakh Invest signed a Memorandum of Understanding with Bavarian Organization of Cooperation East-West (Ost-West-Wirtschaftsforum Bayern e.V.) on economic cooperation of the two countries in the regional format, as well as a Memorandum of Understanding and Cooperation with the Higher Land Economy Education Institution Weihenstephan (Hochschule für Agrarwirtschaft Weihenstephan) on expansion of the interaction with Bavaria in professional training in the field of agro-industrial sector and development of agricultural science in Kazakhstan.

Sergey Kwan

TCA