Kazakhstan-Japan Business Forum kicks off in Astana

ASTANA. KAZINFORM Kazakhstan-Japan Business Forum and VII sitting of the joint commission of government and private sectors for economic cooperation started their work today in Astana with support of the Kazakh Embassy in Japan and Kazakh Invest. 

Delivering an opening address, Investments and Development Vice Minister of Kazakhstan Arystan Kabikenov highlighted that Japan is one of the key strategic partners of Kazakhstan in East Asia. The sides signed the agreement for the promotion and mutual protection of investments in 2015.

"Since the first days of its independence Kazakhstan has made a bid for ensuring economic growth through favorable conditions for foreign investors. Japan ranks among the largest investors of Kazakhstan. The gross inflow of direct investments from Japan to Kazakhstan reached USD 5 bln," Kabikenov said inviting Japanese companies to take part in the country's privatization program.

In his turn, Vice Minister for International Affairs of Japan's Economy, Trade and Industry Ministry Tadao Yanase noted that Japan's companies are interested in investing into Kazakhstan. A package of cooperation agreements was signed at the forum. For example, Kazakh Invest and Marubeni Corporation signed a memo of mutual understanding and cooperation in Almaty urban transport development, Kazakhstan Nuclear Power Plants и The Japan Atomic Power Company, Marubeni Utility Services signed a memo of nuclear energy cooperation, etc.

As of May 1, there are 77 legal entities, branches and offices with participation of Japan's capital in Kazakhstan.