Kazakhstan, US sign business deals worth $7 billion during Nazarbayev visit

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ASTANA (TCA) — As part of the official visit of the President of Kazakhstan Nursultan Nazarbayev to the United States, a round table was held with representatives of the US business circles, organized by the US Chamber of Commerce with the support of the Kazakh Embassy in the United States and the national investment support and promotion company Kazakh Invest. During the meeting, more than 20 bilateral investment, trade and economic cooperation documents were signed for a total of over $7 billion, Kazakh Invest said on January 17.

More than 50 representatives of the largest US companies — members of the US Chamber of Commerce — participated in the meeting, as well as 250 businessmen attended a reception in honor of President Nazarbayev, organized by the US Chamber of Commerce, which represents the interests of more than 3 million members and 3 thousand regional chambers.

“Kazakhstan is in an extremely important region of the world, which has great potential for American business,” said Thomas Donohue, chairman of the US Chamber of Commerce.

Joint projects involving US capital will cover various areas of Kazakhstan’s economy. During the meeting, commercial documents on investment and trade and economic cooperation, as well as technology transfer in the spheres of aviation and space industry, agriculture, and transport were signed with leading American companies Chevron Overseas, W. R. Grace&Co, GE Transportation Parts LLC, Pfizer, John Deere, Amity Technology, and Global Beef Investments LLP.

In addition, documents were signed aimed at digitizing the economy of Kazakhstan, including the agreement between IFC, ACP PIT and IBM on the creation of an incubator of financial technologies on the basis of the IT Technopark Astana Startup HUB, the agreement between ACP PIT and Global Venture Alliance on the creation of a fund for the digitalization of industry, and also a strategic partnership agreement between GE Digital and Samruk-Kazyna JSC on the implementation of digitalization projects in railway transport, energy, oil refining and other sectors of the Kazakh economy.

The Chairman of the Board of Kazakh Invest Saparbek Tuyakbaev signed documents on financing joint investment projects and trade transactions totaling $3 billion with such major financial institutions of the United States as the Overseas Private Investment Corporation (OPIC) and Oppenheimer.

“The Kazakhstan market is attractive for American investors who express interest in cooperation in the field of IT and engineering, transport and logistics, agriculture and infrastructure development. In turn, Kazakh Invest as a single negotiator with foreign investors on behalf of the Government of Kazakhstan will accompany investors according to the principle of ‘one window’ throughout the entire investment cycle — from the idea to its full implementation, as well as provide post-investment support,” said Tuyakbaev.

Sergey Kwan

TCA