Kazakhstan and Germany Strengthen Investment Partnership
On June 20th of this year, the Kazakhstan-German business forum took place in Astana with the participation of the President of the Republic of Kazakhstan, Kassym-Jomart Tokayev, and the President of the Federal Republic of Germany, Frank-Walter Steinmeier. The event, organized by the Ministry of Foreign Affairs of Kazakhstan in collaboration with "NC" KAZAKH INVEST" JSC with the support of the German Eastern Business Association and the Delegation of German Economy in Central Asia, was dedicated to the development of Kazakhstan-German cooperation in priority sectors of the economy.
In the forum, about 400 people participated, including representatives of government bodies and business circles of Kazakhstan, as well as executives of leading German companies such as Siemens, Deutsche Bahn, HMS Bergbau, EMAG, Svevind, Rhenus Logistics, VGH, DB Cargo, and others. The German business delegation consisted of over 100 people in total.
Speaking at the opening of the event, the Heads of State called on entrepreneurs from both countries to expand the scope of cooperation, strengthen investment ties, and actively participate in the implementation of new joint projects.
During the forum, the Kazakh side was represented by Marat Karabayev, Minister of Industry and Infrastructural Development of the Republic of Kazakhstan, Almassadam Satkaliyev, Minister of Energy of the Republic of Kazakhstan, Nurlan Zhakupov, CEO of Samruk-Kazyna JSC, Kanat Sharlapaev, Chairman of the Board of Baiterek, Renat Bekturov, Governor of AIFC and Meirzhan Yussupov, Chairman of the Management Board of "NC "KAZAKH INVEST" JSC.
From the German side, the speakers included Udo Philipp, State Secretary at the Federal Ministry for Economic Affairs and Climate Action, Jörg Bongartz, CEO of Deutsche Bank AG, Dennis Schwindt, CEO of HMS Bergbau AG, and Patricia Neumann, Vice President of Siemens AG.
During the event, issues of investment attractiveness of Kazakhstan and the creation of conditions for effective economic activities of German companies in the country were discussed. Representatives of German companies operating in Kazakhstan shared successful investment experiences in the Kazakh economy, and the executives of HMS Bergbau AG, EMAG, DB Cargo, and Becker Mining announced plans to expand their presence in Kazakhstan.
Furthermore, within the framework of the forum, roundtable discussions were held, addressing issues related to energy, natural resources, engineering, transportation, and logistics. Participants discussed the prospects of cooperation between Kazakhstan and Germany in the aforementioned areas and identified new opportunities for the development of joint projects.
Regarding Kazakhstan's potential in the field of natural resources and energy, German companies expressed interest in further collaboration with Kazakhstan on renewable energy projects and announced their readiness to implement projects in the exploration, extraction, and processing of critical minerals.
In the field of engineering, transportation, and logistics, discussions focused on the development of manufacturing and modernization of transportation vehicles, the creation of modern logistics centers, and the development of transportation infrastructure. Speakers noted that Kazakhstan is an important transportation hub in Central Asia and occupies a strategic position at the intersection of international transport routes. German companies expressed their willingness to contribute to the development of Kazakhstan's transportation infrastructure and expand their presence in these areas.
During the event, German and Kazakh companies signed 23 agreements for joint projects with a total value of $1.7 billion. The signed agreements involve the establishment of joint projects in the processing of rare-earth metals, manufacturing of machine tools and agricultural machinery, as well as the textile industry, fisheries, green energy, and others.
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Germany is an important partner of Kazakhstan in the EU, and the two countries have several intergovernmental agreements aimed at deepening trade and economic cooperation, as well as promoting and protecting mutual investments.
The gross inflow of foreign direct investment from Germany to Kazakhstan since 2005 has exceeded $5.4 billion. The list of Kazakhstani-German investment projects consists of 51 projects with a total value of over $4 billion. Currently, 28 projects with a total value of $1.1 billion have been implemented.
