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Tuesday, September 22nd, 2020


by November 14, 2019 Market

During a visit of Manlio Di Stefano, Undersecretary of State for Foreign Affairs and International Cooperation, to Kazakhstan, the first Kazakh-Italian Business Forum was held on 13 November 2019 in Nur-Sultan, which brought together over 200 representatives of Kazakh and Italian businesses, national companies and government bodies, correspondent reports.

The Kazakh-Italian Business Forum touched upon the prospects to work on projects in energy, renewable energy, petrochemistry, manufacturing and agriculture.

The Italian businesspersons operating in Kazakhstan spoke of their activities and invited the Italian business community to look closely at the business opportunities within Kazakhstan.

Manlio Di Stefano believes that Kazakhstan has made huge progress in terms of transition to a market economy since gaining independence, thus ensuring a stable economic development and favorable investment climate.

He went on to say that Kazakhstan and Italy have established successful and effective relations at the high level.

“We have huge opportunities to expand trade, economic and investment cooperation,” Mr. Manlio Di Stefano said.

Yerlan Khairov, Ambassador-at-large of the Foreign Ministry of Kazakhstan, underscored that Kazakhstan and Italy have a great potential to boost investment cooperation, while encouraging businesses to actively establish contacts and implement investment projects.

The two countries have a huge potential to expand and deepen bilateral partnerships in the economic sphere, especially in the three top sectors as alternative energy, agriculture and digitalization. The company KazakhInvest offers the one window principle for current and potential foreign investors, providing the support for investment projects from idea to implementation, he said.

The Forum also saw B2B working meetings.

Representatives of Pavlodar Social Entrepreneurship Corporation and Naba Carni Companies agreed to carry out a joint project on horse meat processing in Pavlodar region. Another agreement was reached between Pavlodar Social Entrepreneurship Corporation and Rota Guido Company on an investment project in agribusiness.

The Italian embassy to Kazakhstan, KazakhInvest National Company, the National Welfare Fund Samruk Kazyna and the Italian Trade Agency (ITA) acted as the organizers of the Forum.

Italy is Kazakhstan’s largest trading partner among EU countries, as well as among leading investors in the Kazakh economy. Italy’s overall investments in the country total $6.6B. The two countries have traded the products worth $6.7B in 8 months of 2019.

The number of companies involving Italian capital approximates 270.

The Forum is expected to spur the bilateral economic cooperation, as well as establish new opportunities and prospects for partnerships.

Source: Kazakhtan 2050