Germany invested $5.5bln into Kazakhstan’s economy – 1st Deputy PM
12 May 2022 16:10

Germany invested $5.5bln into Kazakhstan’s economy – 1st Deputy PM

NUR-SULTAN. KAZINFORM – The Kazakhstan-Germany Business Forum is underway in the Kazakh capital, Kazinform correspondent reports.

In his opening remarks, First Deputy Prime Minister of Kazakhstan Roman Sklyar noted that Kazakhstan offers the most favorable conditions for potential investors. Thanks to its geopolitical location, according to him, Kazakhstan serves as a link between Europe and Asia.

Roman Sklyar stressed that Kazakhstan is committed to consistently develop and strengthen the strategic partnership in all avenues with one of its largest trade and economic partner in Europe, Germany.

In his remarks the First Deputy Prime Minister pointed out that Germany has invested over $5,5 billion of direct investment into Kazakhstan’s economy since 2005, mostly into processing industry.

Sklyar emphasized that despite the restrictions caused by the global pandemic Kazakhstan and Germany managed not only to maintain the uptrend in bilateral economic cooperation, but also continue to promote specific projects and proposals in virtual format (remotely).

He went on to add that nowadays Germany is one of the most important partners for Kazakhstan as the two nations have in place a number of inter-governmental agreements aimed at deepening of trade and economic cooperation, encouragement and mutual protection of investment.

«Cooperation between our countries continues to develop robustly as it was boosted by two visits of Head of State Kassym-Jomart Tokayev to Germany in 2019 and 2020. A governmental group was established to solve the problems arising within the framework of implementation of joint investment projects,» Roman Sklyar added.

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