Investment and economic opportunities in Kazakhstan presented at the Forum in Saudi Arabia
On February 15, 2022, the Riyadh Chamber of Commerce and Industry organized the “Riyadh Chamber Forum with the Ambassadors of Central Asian countries and Azerbaijan” dedicated to the prospects for trade, economic, and investment cooperation between the countries of the two regions.
The event was attended by Central Asian ambassadors, namely from Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, and Azerbaijan.
The Saudi side was represented by H.E. Mr. Ajlan Al-Ajlan, the Chairman of the Federation of Saudi Chambers and Riyadh Chamber, members of the Riyadh Chamber, representatives of the Islamic Development Bank, the Saudi Development Fund, the Islamic Corporation for the Development of the Private Sector, the Saudi Center for International Strategic Partnerships, as well as heads and representatives of large Saudi companies such as Ajlan & Bros., Al Hokair Group, Lulu Group, Saudi Ceramics, Areen Holding, Nasmat Hegaz Group, etc.
During the forum, the parties discussed ways to expand cooperation between the countries in trade, economy, investment, tourism, aviation, logistics, etc.
The Saudi side, having introduced the participants with the implemented and existing joint projects with the countries of Central Asia, has expressed their interest in further strengthening economic ties with our region.
Central Asian ambassadors made reports and presentations on the available investment and business opportunities and called on the Saudi side to actively participate in projects implemented in their states.
H.E. Mr. Berik Aryn, the Ambassador of Kazakhstan to Saudi Arabia, in his welcoming speech, briefed participants on the main economic achievements of Kazakhstan and informed them about the ongoing work on the establishment of a favorable business climate for foreign investors, such as visa liberalization, protection of investor rights, reduction of administrative barriers, etc.
The Kazakh diplomat also presented the investment activities and measures of Kazakhstan to attract investment in various sectors of the country's economy. Ambassador Berik Aryn called on Saudi businesspeople to boost work in this direction by participating in various investment projects in Kazakhstan and establishing contacts with Kazakh partners. In this context, he invited Saudi entrepreneurs to visit Kazakhstan and get a first-hand understanding of the projects and given opportunities.
Besides, the Kazakh Ambassador provided objective information on the tragic events in early January this year in Kazakhstan, noting that by the decisive and timely measures taken by the Head of State, the situation in the country has stabilized, and people have returned to normal life.
In this context, he assured Saudi businesspeople that the Government of Kazakhstan guarantees protection to foreign investments, the openness of the national economy, and the sanctity of contracts. He outlined the measures taken to increase the confidence of foreign investors and trading partners.
Saudi businesspeople expressed great interest in the thematic presentations of the Kazakh side. During the discussion, Saudi entrepreneurs conveyed their interest in studying the possibility of expanding their activities in the Kazakhstan market.
Source: The Ministry of Foreign Affairs of the Republic of Kazakhstan
