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Saturday, October 19th, 2019

Kazakhstan and Germany plan to implement investment projects worth $700 mln

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Agreements on attracting investments were reached during the Kazakh-German business forum. Prospects for cooperation with such companies as Linde Gas, SMS Group, CLAAS Group, Masterrind, etc. were also discussed during the forum, Strategy2050.kz refers to Kazakh Invest JSC.

It is planned that documents on implementation of investment projects will be signed in December this year within the official visit of President of Kazakhstan K. Tokayev to Germany.

The forum brought together over 200 businessmen from the two countries. Within the framework of the event, promising projects of the trade and economic sphere were considered, tasks were reached to highlight investment opportunities and search for new horizons for mutually beneficial partnership.

Kazakhstan’s delegation, which included representatives of the state bodies and departments, national companies and businesses, was headed by Deputy Prime Minister, Roman Sklyar.

The forum has become a practical platform for enhancing trade, economic and investment cooperation, giving impetus to the development of partnerships in such popular areas as IoT (Internet of Things), logistics, new niches of bilateral cooperation in the areas of investment and trade and economic relations, energy, agriculture, geological exploration, digitalization and greening of industry and urban infrastructure.

In order to move away from the raw material vector of economic development, Kazakhstan has begun modernizing and industrializing the domestic economy. The foundation of the new policy is the creation of a base of industrial-innovative and green economy. In this context, the goal for Kazakhstani entrepreneurs should be to attract companies from Germany to cooperate as leaders in the fields of new technologies and innovations. Particularly relevant is the development of new industries that are created using digital technologies, as well as the introduction of elements of Industry 4.0, Roman Sklyar said.

Today, Germany is one of the leading foreign economic partners of Kazakhstan. Over the past 14 years, German companies have invested about $ 5 billion in our country. According to German statistics agencies, the trade turnover in 2018 reached a historic high of 5.1 billion euros.

Kazakhstan today means new opportunities and potential for profitable business. Growth forecasts for Kazakhstan are impressive. Thus, according to the EBRD forecast, GDP in 2019 can grow by 3.5%. Forecasts for 2020 indicate that Kazakhstan is the engine of growth in the Eurasian Economic Union. We are very pleased that the positive development had a positive impact on the German-Kazakh economic relations: in the first half of the year we have already exchanged goods for EUR 2.7 billion. Kazakhstan still accounts for more than 80% of Germany’s trade with the Central Asian region, Manfred Grundke, member of the board of the Eastern Committee of the German Economy, Knauf General Partner, said.

According to Ulf Wokurka, independent director of Kazakh Invest, this forum has become an effective platform for representatives of political, economic and expert circles of Kazakhstan and Germany.

Kazakhstan is consistently implementing reforms aimed at improving the investment climate. An open dialogue with entrepreneurs is ensured and the infrastructure for attracting investments is improved. I am sure that in the near future the results of the negotiations held on the sidelines of the forum will be the launch of production and the creation of new joint ventures, he said.

Today in our country there are over 900 companies with capital from Germany. Domestic entrepreneurs intend to expand existing cooperation through new projects. Together with the Eastern Committee of the German Economy, a draft Roadmap for Trade and Economic Cooperation was developed with an appendix of the List of Investment Projects, which is planned to be signed during the visit of the Head of State.

The business forum was organized with the support of the Ministry of Foreign Affairs of Kazakhstan, Kazakh Invest, with the assistance of the Eastern Committee of the German Economy and the Federal Ministry of Economics and Energy.

Source: Kazakhtan 2050

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