KAZAKH INVEST Discussed Kazakh-Singapore Cooperation
On October 22 this year, Chairman of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan Gabidulla Ospankulov and Chairman of the Management Board of JSC "NC "KAZAKH INVEST" Yerzhan Yelekeyev met with the Ambassador of the Republic of Singapore to the Republic of Kazakhstan Zulkifli Baharudin, during which the parties discussed issues of investment cooperation development.
Welcoming the Singaporean representatives, G. Ospankulov stressed that Singapore is Kazakhstan's important partner in Southeast Asia. The two countries have signed several intergovernmental agreements to deepen trade and economic cooperation, and the Kazakhstan-Singapore Business Council has been functioning since 2022.
Y. Yelekeyev informed the Singaporean side about the investment climate of the Republic of Kazakhstan, the work of KAZAKH INVEST to attract investments, and state support measures. The Chairman of the Management Board also noted potential areas for further expansion of Kazakh-Singaporean cooperation.
In turn, Z. Bakharudin stressed the interest of Singaporean companies in developing joint promising projects in Kazakhstan. At the end of the meeting, the parties agreed to continue working to strengthen investment cooperation.
For reference:
The trade turnover between the Republic of Kazakhstan and the RS in January-June 2024 amounted to $541.5 million, including exports – $503.9 billion and imports – $37.5 million. In 2023, the trade turnover was $1.8 billion (exports – $1.78 billion, imports – $81 million), and the inflow of direct investments from the RS to the Republic of Kazakhstan amounted to $457.5 million (in 2022 – $405.1 million). In Q1 2024, the inflow of FDI amounted to $440.4 million.
Currently, there are 13 projects worth $632 million in the list of active investment projects.
