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Turkey to plough 1.7 US dollars in Kazakhstan's projects

14.09.2018 4295
As part of the Kazakhstan-Turkey Investment Forum, 24 commercial agreements of investment and trade and economic cooperation between the two states were concluded, Kazakh Prime MInister's website reports.

The projects, firstly, aim at developing the country's non-commodity sector, as well as they will provide up to 3000 workplaces.

Presently Turkey places second in terms of the number of companies with foreign participation. Expansion of the number of Turkey's companies in our country is one of the core factors that facilitate an exchange f capital, best practices, and technologies between our states," said First Deputy Prime Minister of Kazakhstan Askar Mamin while opening the Kazakhstan-Turkey Investment Forum.

Kazakhstan and Turkey's companies have signed 24 commercial documents for 1.7 billion US dollar. The documents aim at implementing different investment projects. Thus, as a sample, the construction of a plant for production of soda ash used in metallurgical, chemical and glass industries, with the total cost of 270 million US dollars and the creation of 350 workplaces, is planned in Zhambyl region.

Following the agreements reached between Kazakh Invest and Eksen Group, Turkish investors plan to build a new financial, social and business centre Downtown Almaty in the city of Almaty with the total cost of 300 million US dollars. Downtown Almaty will locate business-centres, apartments and JW Marriott hotel.

The Governor's Office of Turkestan region and DAL Holding signed an agreement to construct a green gas complex for the total amount of 200 million US dollars with the creation of 700 workplaces.

Kazakhstan implements new large-scale projects with participation of such Turkey's companies as Yildizlar SSS Holding, DAL Holding, Zorlu Holding, Calik Holding, Oyak Holding, Enprode and so on. It reflects the increased interest of new Turkey's trans-national companies working in priority sectors for Kazakhstan's economy.

We can talk about the strengthening trend of expanding the number of Turkey's large holdings on Kazakhstan's market. Whereas previously the traditional sectors that attracted Turkish investors were hotel business, production of building materials at the level of small- and medium-sized businesses, then presently Turkey's large companies open such new sectors as the mining, agriculture, agro-industrial chemistry, metallurgy, processing industries, and others," said Saparbek Tuyakbayev, Chairman of NC Kazakh Invest.

Chairman of the Board of YDA Holding X. Arslan underlined that Turkish investors are interested in expanding their enterprises in Kazakhstan owing to political stability, a favorable investment climate, prospects to enter into the Eurasian Economic Union, Central Asian and West China's markets. Regular improvement of legislations and the introduction of new investment mechanisms, such as PPP, the Astana International Financial Centre, play a key role.

Interesting opportunities open within the national programmes for industrial and innovative development, Ruly Zher, Nurly Zhol," said Arslan at the Forum held to present a platform for dialogue to bring Kazakhstan and Turkey's governmental agencies, business circles of national and private companies together, to hold talks and to reach mutually beneficial agreements.

The Kazakhstan-Turkey Investment Forum was organized by Kazakh Invest under the support of the Kazakh Embassy to Turkey. The event was attended by First Deputy Prime Minister of Kazakhstan Askar Mamin, Turkish Minister of Energy and Natural Resources Fatih Donmez, Chairman of the Board of JSC NWF Samruk Kazyna Akhmetzhan Yessimov, Chairman of the Board of the Atameken National Chamber of Entrepreneurs Ablay Myrzakhmetoc, Kazakh Minister for Investment and Development Zhenis Kassymbek, Chairman of the Board of NC Kazakh Invest Saparbek Tuyakbayev, as well as Chairmen and up to 200 Kazakhstan and Turkey's companies.

Source: BNews.kz

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