Kazakh diplomatic missions to search for potential investors abroad

ASTANA. KAZINFORM - The Ministry of Foreign Affairs of Kazakhstan and national company KAZAKH INVEST have inked a memorandum of cooperation and mutual understanding today, Kazinform reports. As per the memorandum, Kazakhstani diplomats will help the national company attract investments in the country.

"Presently, the ministry together with the economic bloc of our Government and KAZAKH INVEST are busy working on new measures to attract foreign direct investments and promote Kazakh export products abroad. The ministry will also assist KAZAKH INVEST in raising awareness about the opportunities for foreign investors in Kazakhstan in line with the plan that was approved earlier," Minister of Foreign Affairs Kairat Abdrakhmanov told the journalists on Thursday.

Minister Abdrakhmanov assured that the ministry is committed to helping the company in its work with foreign business partners.
Abdrakhmanov stressed that for this to happen the ministry will use the potential of the Kazakh diplomatic missions abroad to the maximum. He said: "We will step up joint work of the Kazakh embassies and offices of the company abroad. Kazakhstan is represented in over 90 countries worldwide."

Maksat Kabashev, CEO of KAZAKH INVEST JSC, elaborated that utmost attention will be paid to attracting investments in non-oil and gas sector. He stressed that at this point it is the key goal for the company.

"We've determined the sectors and countries we will focus our attention on. Those are agricultural processing, chemical and petrochemical industry, pharmaceuticals, and engineering industry. We will mainly work with the EU, Turkey, the Middle East, China, Russia and the U.S.," Kabashev said.

In his words, reps of the company and the Kazakh diplomats posted abroad will invite international companies to Kazakhstan and urge them to open projects here.