News Kazakhstan

News Kazakhstan12.05.2022

German investors launch new projects in Kazakhstan

The Kazakh-German business forum was held in the capital city of Kazakhstan with the participation of the First Deputy Prime Minister of the Republic of Kazakhstan Roman Sklyar. The leitmotif of event, which was attended by about 250 delegates, it was development of Kazakh-German economic cooperation in the field of high technologies, green economy and logistics, Qazaq Green reports citing Kazakh Invest.

Opening the plenary session, Roman Sklyar noted that Germany is one of the most important partners of Kazakhstan and highly appreciated the level of trade and economic cooperation and the prospects for bilateral cooperation. In his speech, he stressed that the strategic initiatives of the country's leadership since independence have been aimed at qualitative diversification of the economy, technological modernization of basic industries and the development of human capital.

According to the First Deputy Prime Minister, Kazakhstan, having such factors as diversified energy sources, logistics and significant natural resources, has a significant potential for the production and subsequent export of "green" energy.

The speaker encouraged on German investors to cooperate and stressed that Kazakhstan is interested in attracting German investments in digital technologies in order to modernize existing enterprises, as well as create new high-tech industries. The direct investments of German companies in the Kazakhstan economy since 2005 amounted to about $5.5 billion, which was directed to the manufacturing industry. More than 600 enterprises with the participation of German capital operate in Kazakhstan, including LindeAG, HeidelbergCement, BASF, Knauf, Siemens, Wilo, Metro Cash and Carry, CLAAS and others. It should be reminded that under the chairmanship of the First Deputy Prime Minister is functioning a special government working group for the development of investment cooperation with Germany.

In addition, effective dialogue platforms operate within the framework of bilateral cooperation is the Berlin Eurasian Club and the Kazakh-German Business Council. In his speech, Manfred Grundke, Member of the Board of the Eastern Committee of the German Economy and Speaker of the Country Team for Central Asia, emphasized that in the thirtieth year, German-Kazakh economic relations reached a high level: “Kazakhstan is, of course, Germany's most important trading partner in Central Asia. Thanks to their technological solutions and expertise, German companies increase productivity in all sectors of the economy. Together we can and will achieve much more. For us, Kazakhstan is much more than a supplier of raw materials. We are convinced that Kazakhstan can derive the greatest sustainable benefit from diversified development.”

Manfred Grundke also noted that agriculture, logistics, digitalization, as well as industrial production are just some of the industries that can take Kazakhstan to a new economic level. Processes aimed at creating such a breakthrough are already underway.

The Government of Kazakhstan aims to ensure a sustainable inflow of innovation and capital through the creation of a favorable investment climate and state investor support programs. Michael Harms, Managing Director of the Eastern Committee of the German Economy, noted the huge potential of Kazakhstan in the field of renewable energy, which can be of help to the German economy in its transition to a green economy, in the process of decarburization and digitalization.

Meirzhan Yussupov, Chairman of the Management Board of KAZAKH INVEST, informed the forum participants about the investment opportunities of Kazakhstan, noting that the portfolio of Kazakh-German investment cooperation consists of 46 projects totaling more than $28.4 billion. To date, 28 projects have already been implemented for total amount of $1.1 billion. Florian Penner, Executive Director for Business Development and Sales of Linde GmbH, Markus Glasser, Senior Vice President for EMEA, EOS GmbH, and Dastan Abdulgafarov, Deputy Chairman of the Management Board for Strategy, Investments and Business Development of KazMunayGas, also acted as speakers in the panel session and Natalya Panina Vice President of SAP CE.

As part of the event, 11 bilateral documents were signed for a total amount of over $200 million in such industries as mechanical engineering, industrial automation, petrochemistry, logistics, and healthcare and information technology. Among the new projects under development with German investors in Kazakhstan are the creation of a digital competencies laboratory with Siemens, the construction of a machine tool assembly plant with EMAG, the production of forged gear rims with R.S. Engineering, the construction of a processing plant gypsum stone with Knauf, the construction of an intermodal terminal in the Almaty region with Rhenus Logistics, and the construction of three hemodialysis clinics in the Turkestan, Kyzylorda and Atyrau regions.

The Ministry of Foreign Affairs of the Republic of Kazakhstan, the Embassy of Kazakhstan in Germany, “NC “KAZAKH INVEST” JSC, as well as the Eastern Committee of the German Economy and the Representative Office of the German Economy in Central Asia, organized the Kazakh-German Business Forum.

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