Kazakhstan and Switzerland Signed a Memorandum on Expanding Investment Cooperation
An investment round table organized by the Embassy of the Republic of Kazakhstan in the Swiss Confederation together with the Joint Chamber of Commerce Switzerland (JCC) took place in Bern. Leading Swiss companies, representatives of government bodies, economic organizations, and financial institutions participated in the round table. During a hybrid meeting, "KAZAKH INVEST" JSC and JCC signed a Memorandum of Understanding on expanding investment cooperation and strengthening business ties.
The round table allowed the Swiss side to learn about the economic situation in Kazakhstan, exchange business experience, best practices, and investment opportunities, as well as establish business contacts in anticipation of planned meetings of the Intergovernmental Economic Commission and the Business Council in Astana this year.
At the opening of the event, the Ambassador of Kazakhstan to the Swiss Confederation, Kairat Sarzhanov, called on Swiss businesses to actively participate in modernizing Kazakh enterprises on mutually beneficial terms and investing in priority industries, including chemical and pharmaceutical industries, engineering, agriculture, food industry, transportation, infrastructure, and logistics. He noted the importance of large-scale transformations in Kazakhstan aimed at strengthening macroeconomic stability, diversifying the economy, developing SMEs, improving the quality of human capital, and ensuring the rule of law. He emphasized that Switzerland is among the top three largest foreign investors in Kazakhstan with a capital investment of $32.7 billion since 2005.
JCC Managing Director Dorit Sallis noted that Kazakhstan is also a priority trade and investment partner for Switzerland. According to her, Swiss companies consider Kazakhstan as the main transport and logistics hub not only in Central Asia but also in the Caspian region. She mentioned the growing interest of Swiss companies in engineering, infrastructure, agriculture, and chemical industries in Kazakhstan.
Representative of the Kazakh Invest National Company, Saken Olzhabayev, presented the main tools for supporting foreign investors and investment proposals in priority sectors of the Kazakh economy, while Temirlan Mukhanbetzhanov, Managing Director of the MFCA Administration, spoke about the unique opportunities and legal guarantees provided to foreign companies for doing business in Central Asia. In turn, Leyla Batyrbekova, Secretary General of the European and Central Asian Transport and Trade Association (ECATA), drew attention to the relevance of diversifying transit routes and investing in transport infrastructure.
Swiss companies SGS and Militzer & Münch, which entered the Kazakh market at the dawn of independence, shared their positive experience of doing business in Kazakhstan and examples of successful projects in strategically important sectors of the Kazakh economy with the participants of the event.
Alexander Luft, CEO of Stadler CIS, announced the start of the technology transfer and personnel training process under an agreement with Kazakhstan Temir Zholy for the production and maintenance of railway equipment in Kazakhstan. And Jean-Paul Periat, Honorary Consul of Kazakhstan in Switzerland, informed about an upcoming business mission to Kazakhstan in June 2023, which includes a visit to the "Astana International Forum," the "Days of Switzerland" event in Almaty, as well as meetings with business circles and representatives of government agencies in Kazakhstan.
