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Thursday, November 26th, 2020

French investors familiarized with Kazakhstan’s investment possibilities


The forum on digitalization and alternative energy, attended by Kazakh Invest National Company Deputy Chairman Birzhan Kaneshev, took place in the French city of Cannes.

Cannes hosted the KazakhFrench forum, with the investment potential and investors’ state support measures, the digitalization’s growing role in economic modernization, new opportunities in the light of evolving alternative energy were on the agenda, Kazakh Invest National Company’s press office informed.

In his speech, the Kazakh Invest National Company Deputy Chairman informed on the advantages to do business in Kazakhstan, the longstanding preferences the country provides for foreign investors and the Company’s role in attracting foreign investments

Kazakh Invest, being widely represented abroad and the country’s regions, provides a full package of services to support investment projects from ideas to their practical realisation during the postinvestment period using the single window principle, he said.

Over 100 attendees rolled up for the event, including a Kazakh delegation led by Vice Minister of Digital Development, Defense and Aerospace Industry of Kazakhstan Daryn Tuyakov, Kazakh ambassador to France Zhan Galiyev, AIFC Governor Kairat Kelimbetov, member of the Board of Directors at Kazakh Invest National Company Francois Bernard, as well as AIFC, Zerde National Investment Holding, the local executive government and Kazakh business communities’ representatives. France was represented by the leading companies like Fonroche, CNCR Group, BPI France, Urbasolar, ECM Greentech, MEDEF Association.

The possibilities of expanding the bilateral cooperation in priority economic sectors defined by the two Presidents during the meeting in Brussels in October last year were under discussion.

Kazakhstan implements projects in the following spheres, they are machine building, wholesale and retail trade and the chemical sector, for a total amount of US $350mln, with over 500 people receiving permanent workplaces.

The gross influx of investments from France to Kazakhstan has made up US $14.4bn in the period from 2005 to the 3rd quarter of 2018. The external trade turnover between Kazakhstan and France equaled US $4.5bn in 2018, a 32.5% growth compared with 2017. In the previous year, Kazakhstan exported goods for US $3.8bn to France, by one third more than in 2017. The exports include crude oil (US $1.4bn 98.7%), uranium (0.9%), meanwhile Kazakhstan imported goods for US $535.2mln, including human vaccines (US $21.2mln 8.1%), drugs (US $20.8mln 8%), herbicides and plantgrowth regulators (US $13.9mln 5.3%).

Source: Kazakhtan 2050