Kazakhstan raises new French investment

PARIS, October 8, 2019 – KazMunayGas and the leading French corporation Air Liquide signed an agreement on the sidelines of the Kazakh-French Investment Forum in Paris. The document provides for building a plant for the production of compressed air and nitrogen and their long-term supply for the needs of the gas chemical facility under construction in the Atyrau region. Given the agreement, the company will directly invest around $200 million in the Kazakh economy.  

The Kazakh delegation headed by Deputy Prime Minister of Kazakhstan, Roman Sklyar, and over 100 representatives of the French business community participated in the forum organized by Kazakh Invest and the Association of Entrepreneurs MEDEF with the support of the Embassy of Kazakhstan in France. In his opening remarks, Roman Sklyar stated the unparalleled level of mutual trust, commitment and strategic partnership that the two countries have reached over 27 years of cooperation. The Deputy Prime Minister called on French businesspeople to actively cooperate in such priority areas as digitalization, agriculture, agroindustry and alternative energy.

In turn, France’s Special Representative for Economic Diplomacy in Central Asia, Pascal Lorot, said, “Kazakhstan, located in the heart of the Great Silk Road, is France’s key economic partner in Central Asia and an important bridge between Europe and Asia. Today’s global forum, along with two thematic forums on priority partnership areas held in Cannes and Rennes in March and September of this year, are key stages in the process of deepening our bilateral relations and strengthening our strategic partnership.”

As part of the forum, the head of the Kazakh delegation also held a series of bilateral meetings with the leadership of large companies, including Air Liquide, Vicat, IDEMIA, Airbus, Bureau Veritas, Loste Group, CNCR Group and others.

Representatives of economic and business communities of France praised the measures taken by Kazakhstan in creating a favorable investment climate. Co-chair of the Kazakh-French Business Council, Yves-Louis Darricarrère, stated that effective measures taken to protect and promote investment have increased the number and improved the quality of French projects in Kazakhstan.

The forum included the following panel sessions: “New Economy and Digitalization Opportunities”, “New Energy and Resource Efficiency”, as well as “Industrial Development and Government Support Measures”.

Furthermore, a series of B2B meetings with companies with high investment potential was held on the margins of the forum.

The Kazakh side was represented by Deputy Minister of Foreign Affairs of Kazakhstan, Yermek Kosherbayev, Ambassador of  Kazakhstan to France, Jean Galiev, Vice Minister of Trade and Integration, Azamat Ascaruly, Vice Minister of Agriculture, Gulmira Issaeva, Vice Minister of Digital Development, Innovation and Aerospace Industry, Marat Nurguzhin, Co-Chair of the Kazakh-French Business Council, Aidan Karibzhanov, Chairman of NMH KazAgro JSC, Yerbol Karashukeyev, Chairman of Kazakhstan Center for Industry and Export QazIndustry JSC, Alisher Abdykadyrov, Managing Director of NWF Samruk Kazyna, Lyazzat Borankulova, AIFC Managing Director, Timur Onzhanov, and other representatives of a number of private domestic companies.

For reference: France is one of the top 5 key trade and investment partners of Kazakhstan. Since 2008, French investment has exceeded $12.5 billion and mutual trade turnover reached $50 billion. In total, more than 130 companies with the participation of French capital operate in Kazakhstan.

Created at : 9.10.2019, 10:20, Updated at : 9.10.2019, 10:20