Sunday, February 28, 2021

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UAE Investments in Kazakhstan: Will UAE Invest $ 20 Billion in Kazakhstan?

Astana is keen to attract UAE Investments in Kazakhstan. Kazakhstan prepared proposals on investments for businessmen from the United Arab Emirates for a total of $ 20 billion. This was announced during the meeting in Astana – the Capital of Kazakhstan by the Kazakh Invest Chairman Saparbek Tuyakbayev and the Ambassador of the United Arab Emirates Mohammed Ahmad Aljaber.

Tuyakbayev stated that the delegation of the Kazakhstan business community will participate in the investment forum to be held in Dubai in April. During the forum presentation in Dubai, investment opportunities in Kazakhstan will take place, where Kazakh delegation will meet a number of organizations from the UAE interested in investing in Kazakhstan. UAE businessmen have been presented various investment proposals for their consideration worth $ 20 billion.

Other Stories on EurAsian Times: Now Why is Kazakhstan Angry and Accusing Russia?

At the meeting, both the sides also drafted steps to strengthen investment opportunities between the countries, discussed opportunities for executing joint projects in the field of logistics, tourism and agribusiness.
We are ready to invest in agro-industrial projects, in particular, in organic production, as well as in logistics projects in Kazakhstan”,- said Mohammed Ahmad Aljaber.
UAE’s Al Khaleej Sugar company is very keen for the development of a large sugar plant in the Shardara district of South Kazakhstan. According to prefatory calculations, $375 million is planned to be invested in the construction of the plant.

At the end of the meeting, Tuyakbayev and Aljaber expressed their willingness to examine the feasibility of an agreement on investments at the intergovernmental level. In addition, it was decided to develop a joint road investment card.

Related Stories at EurAsian Times: Ukraine and UAE Agree to Sign Visa Free Agreement

Presently, there are about 200+ joint ventures with the UAE in Kazakhstan. The key domains in which the companies operate are the agro-industrial complex, oil refining and expansion of the infrastructure of the oil and gas sector, chemical industry and construction.

For Kazakhstan, the UAE is on the list of priority nations for drawing investments: the UAE is ranked 13th in terms of assets (FDI) in Kazakhstan, 23rd in terms of the number of enterprises with capital in the Republic and 25th in terms of commodity turnover.

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