UAE businessmen invited to join Kazakhstan’s privatization programme

ASTANA. KAZINFORM Minister of Investment and Development Zhenis Kassymbek has invited the businessmen of the United Arab Emirates to join Kazakhstan's privatization programme, Kazinform correspondent reports.  

He announced it during the Kazakhstan-UAE Business Forum.

“Kazakhstan is conducting a large-scale privatization campaign now. As many as 700 large state enterprises will be privatized in the nearest years. We are planning to sell some companies through the Astana International Financial Centre. These will be the shares of ore-mining, oil producing energy, transport and communications as well as infrastructure enterprises,” said Kassymbek.

More than 60 UAE companies and over 250 representatives of Kazakhstani business are participating in the event.

Noteworthy to say that since 1991, the total volume of direct investments from the UAE to Kazakhstan made USD2bln. Meanwhile, Kazakhstan has invested over USD900mln in UAE economy.

As many as 200 Kazakh-UAE joint enterprises are functioning in our country to date.