Investors from Saudi Arabia expressed interest to work in Kazakhstan
Investors from Saudi Arabia wish to work in Kazakhstan within the limits of a free economic zone model. The Ambassador of Kazakhstan to the Kingdom of Saudi Arabia, Kayrat Lama-Sharif informed during Kazakhstan-Saudi Arabian business-forum in Astana on Monday, the agency reports.
Astana. May 20. Kazakhstan Today - Investors from Saudi Arabia wish to work in Kazakhstan within the limits of a free economic zone model. The Ambassador of Kazakhstan to the Kingdom of Saudi Arabia, Kayrat Lama-Sharif informed during Kazakhstan-Saudi Arabian business-forum in Astana on Monday, the agency reports.
"They wish to create the same model in Kazakhstan - management of free economic zone, build factories and other new objects. Saudi Arabia is on the list of the competitive countries. We would like to be one of 50 competitive countries. Therefore, there is a lot to learn. I think the Saudi investments will come to Kazakhstan in the near future," K. Lama-Sharif informed.
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Kazakhstan and Hungary Strengthen Strategic Partnership
Images | Kazakh MFA
Deputy Minister of Foreign Affairs of Kazakhstan Roman Vassilenko and Deputy State Secretary of the Ministry of Foreign Affairs and Trade of Hungary Ádám Stifter held another round of Kazakh-Hungarian political consultations in Budapest, press service of the Kazakh MFA reports.
The agenda of the consultations encompassed the issues of strengthening trustful political cooperation, enhancing mutual trade, implementation of joint investment projects, transport and logistics, the agro-industrial complex, energy, education, etc.
The officials confirmed that a sustainable political dialogue has been established between Kazakhstan and Hungary, maintaining mutual understanding on the most pressing issues of the current geopolitical situation. Mutual support of the parties’ initiatives aligning with their national interests is ensured on various international platforms. In this connection, the diplomats stressed the importance of the outcomes of the visit of Prime Minister Viktor Orbán of Hungary to Astana and his meeting with President of Kazakhstan Kassym-Jomart Tokayev, as well as the visit of Deputy Prime Minister - Minister of Foreign Affairs Murat Nurtleu of Kazakhstan to Budapest in November 2023, all of which gave a powerful impetus to the entire spectrum of bilateral cooperation.
Vassilenko and Stifter expressed satisfaction with the growth of bilateral trade turnover between Kazakhstan and Hungary, which amounted to 187.6 million US dollars in 2023 (+8.9%) according to the Kazakh statistics.
In this regard, Ádám Stifter underscored Hungary’s commitment to further bolstering trade and economic ties, highlighting Kazakhstan as its leading partner in Central Asia.
The parties updated the list of priority joint business projects and agreed to strengthen interaction in specific sectors of the economy, including energy, agriculture, and banking.
They paid special attention to Kazakhstan’s cooperation with the European Union, particularly in light of Hungary’s upcoming Presidency in the EU Council in the second half of 2024.
Having wished Hungary success in this important mission at the crucial time for the EU, the Kazakh diplomat expressed confidence in its effective execution for the benefit of the European Union and its partners, such as Kazakhstan.
The diplomats noted with satisfaction the existence of centuries-old historical ties and fraternal relations between the peoples of the two countries.
In this context, the parties discussed the state and prospects of development of cultural and humanitarian cooperation between the two countries, reviewed the progress of effective use of "Stipendium Hungaricum" program, which provides an opportunity for Kazakh students to study in Hungarian universities, as well as preparation for the 5th World Nomad Games this fall in Astana.
During the visit, Roman Vassilenko also met with the Director of the Hungarian Institute of International Relations Márton Schőberl. They had an insightful exchange of views on topical issues on the multilateral agenda. Both parties expressed mutual interest in further expanding cooperation between research institutions in Kazakhstan and Hungary.
Since 2005, the gross inflow of direct investment from Hungary to Kazakhstan amounted to 320 million US dollars.
There are 29 legal entities, branches and representative offices of companies with the Hungarian participation registered in Kazakhstan and along with 41 joint ventures.
One thousand Kazakh students are currently enrolled in higher education institutions in Hungary, with Hungary annually granting 250 scholarships for this purpose.
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On the Third Meeting of the Arab Forum of Economics and Cooperation With the Countries of Central Asia and the Republic of Azerbaijan
Images | Kazakh MFA
Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Alibek Bakayev took part in the Third Session of the "Arab Economic and Cooperation Forum with Central Asian Countries and the Republic of Azerbaijan", organized by the League of Arab States (LAS) at the ministerial level, press service of the Kazakh MFA reports.
In his speech, Deputy Minister Bakayev emphasised the Forum's critical role in the growth of interregional cooperation, noted the close historical ties that bind Central Asian nations, Azerbaijan and all of the Arab countries, together, as well as their shared spiritual and cultural values. He focussed specifically on the key pillars of contemporary bilateral cooperation.
In the areas of business, trade, investment, culture, and science, Kazakhstan's cooperative projects and initiatives with Arab nations were highlighted, as well as high interest in further deepening and expanding this cooperation was confirmed.
The head of Kazakhstan delegation put forward a number of specific proposals aimed at developing cooperation in economy, investment, finance, innovation, renewable energy, development of tourism and infrastructure, utilizing transit and transport potential, addressing environmental, water and food security challenges. Partners were invited to benefit from the Astana International Financial Center's distinctive services, which are unmatched in the Central Asian region.
Within the framework of world organizations, the countries of the two regions actively support each other and adhere to the same or similar political positions and views on the most pressing issues on the international agenda. Regarding the deteriorating situation in the Middle East that is raising serious concerns for the international community, Deputy Minister Bakayev reiterated Kazakhstan's resolute stance. In particular, the call for an end to the ongoing violence and mass destructions, promotion of international peace negotiations processes and initiatives, as well as strong support for resolving the conflict by the formula "Two Countries for Two Peoples" were clearly expressed.
In order to provide support to the Palestinian people, Kazakhstan last year made a significant financial contribution to the activities of relevant international organizations, as well as provided material humanitarian assistance to the Gaza Strip.
At the forum, Deputy Minister Bakayev held bilateral meetings with the State Minister for Foreign Affairs of the State of Qatar Soltan Al-Muraikhi, Secretary General of the Arab League Ahmed Aboul Gheit, as well as the heads of delegations of Tunisia and Algeria.
Following the Forum, the Doha Declaration was adopted.
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