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International investors explore opportunities in Kazakhstan at Caspian Economic Forum

Kazakh Invest officials presented investment opportunities in Kazakhstan to foreign companies Aug. 11-12 at the first Caspian Economic Forum held in Turkmenistan, reports Invest.gov.kz.

Kazakh Invest met with Turkish company Çalık Holding to discuss cooperation in the textile industry. Çalık Holding’s subsidiary, Gap Pazarlama, is one of the largest companies in the textile industry and has production facilities in Africa and Central Asia.

“We have four plants in Turkmenistan. Now, we are considering the possibility of investing in Kazakhstan but, for this, we need a reliable local partner,” said Gap Pazarlama Deputy General Manager Onur Yüksel on cooperating with Kazakh Invest, which supports investment projects in Kazakhstan.

Russian company Lighting Technologies intends to build a production plant for lighting and light control systems in the Almaty Region and export the plant’s products to other Central Asian countries. In addition, Russian company Schelkovo Agrohim, Russia’s largest producer of pesticides, is interested in increasing its production capacity of plant protection agents in the Akmola Region.

Russia’s Korib Group of companies, which implements projects in the automotive industry, is interested in launching production in Kazakhstan. Russian company Elabuga Battery Factory, which produces automotive batteries, is also considering investing in projects in the country.

“Kazakhstan is a promising market for us. We are ready to cooperate with Kazakh Invest and consider investment opportunities in our field,” said Korib Group of Companies Chief Executive Officer Oleg Korobchenko.

The Caspian Economic Forum gathered representatives of Azerbaijan, Iran, Kazakhstan, Russia and Turkmenistan for the first time in a five-sided format since they signed a convention on the legal status of the Caspian Sea Aug. 12, 2018 in Kazakhstan. Kazakh Prime Minister Askar Mamin and Turkmen President Gurbanguly Berdymukhamedov also met as part of the forum to discuss cooperation in engineering, industrial chemicals, metallurgy, agriculture, tourism, transport and gas, reported Primeminister.kz.

L-R: Turkmen President Gurbanguly Berdymukhamedov and Kazakh Prime Minister Askar Mamin

L-R: Turkmen President Gurbanguly Berdymukhamedov and Kazakh Prime Minister Askar Mamin

Trade between Kazakhstan and Turkmenistan was $68 million in the first half of the year, which is 2.2 times more than in the same period last year. Developing initiatives, such as the new Coordinating Council, chaired by Mamin and aimed at attracting and protecting foreign investment, will be an additional instrument for Kazakhstan to sustain the investor confidence demonstrated at the first Caspian Economic Forum.

About Kohan Journal

Kohan Textile Journal is the leading magazine for the Textile industry, Textile machinery, Synthetic Fibers and Nonwovens in MENA region (the Middle East and North Africa) and is published every two months. It basically emphasizes on textile machinery, textile products, carpet and synthetic fibres distributed among the factories, manufacturers, and traders of floorcovering industries.l

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