On September 6, 2022, a Kazakhstan-Germany Business Forum was held at the site of the Astana International Financial Center with the participation of the First Deputy Prime Minister of the Republic of Kazakhstan Roman Sklyar. The event was organized by the Embassy of the Republic of Kazakhstan in Germany, together with "NC "KAZAKH INVEST" JSC, with the support of the Eastern Committee of the German Economy and the Representative Office of the German Economy in Central Asia in Almaty. Topic of the event was "Adaptation to the new rules of global business - Common opportunities in industry, energy and logistics, Delovoy Kazakhstan reports.
The event was organized within the framework of the visit of the German delegation to Kazakhstan, headed by the co-Chairman of the Kazakhstan-Germany Intergovernmental Working Group, director of foreign economic policy of the Federal Ministry of Economy and Climate Protection of Germany, Dr. Dominik Schnichels. During the visit, the German delegation also met with Head of State Kassym-Jomart Tokayev.
The business forum was attended by heads of central and local government agencies, national and quasi-state companies, representatives of industry and regional business associations, as well as heads of leading German companies such as Siemens, Deutsche Bahn, SAP, Becker Mining Systems AG, Knauf, Wilo etc. 150 delegates took part in the forum.
Germany is one of the most important partners of Kazakhstan in the EU, there are a number of intergovernmental agreements between the countries aimed at deepening trade and economic cooperation, encouraging and mutual protection of investments.
Trade turnover between Kazakhstan and Germany in 2021 amounted to $2.2 billion, which is 6.4% higher than in the same period of the previous year ($2.1 billion). Since 2005, Germany's foreign direct investment in the economy of Kazakhstan has amounted to about $5.3 billion, most of which has been directed to the manufacturing industry. In addition, 9 projects worth more than $2 billion are under implementation.
Speaking at the opening of the event, Roman Sklyar informed about the planned political and socio-economic reforms within the framework of the “New Kazakhstan” concept announced by the Head of State, and about the goals and priorities of the Kazakh Government in the implementation of the new economic course.
“The government is continuously working to increase the level of investment attractiveness of the country. A draft of a new Concept of Kazakhstan's investment policy was approved with a focus on increasing the investment attractiveness of Kazakhstan in the face of increased ESG requirements, global energy and technological transition. Innovations include measures to optimize and simplify tax regimes, subsidies and other incentives for investors in priority sectors of the economy” Roman Sklyar, First Deputy Prime Minister of the Republic of Kazakhstan
At the end of his speech, Roman Sklyar invited German companies to expand investment ties, as well as actively participate in the implementation of new joint investment projects.
The co-Chairman of the Kazakhstan-Germany Intergovernmental Working Group, Dominik Schnichels, spoke about the importance of bilateral relations between the countries, and noted that Kazakhstan and Germany have great potential for implementing joint projects in many areas.
“Looking at the example of the past pandemic crisis and the current geopolitical situation, we see the importance of food security, energy freedom and the development of supply chains for goods. In this vein, we see that Kazakhstan has great potential in many important areas of the economy for Germany, these are both non-renewable energy sources and the development of a very relevant direction for the world – production of renewable energy sources. In addition to its location and logistical advantages, Kazakhstan also has a huge resource and human potential. We believe that the expansion of cooperation is very beneficial, both for Kazakhstan and for Germany” Dominik Schnichels
Vice Minister of Industry and Infrastructure Development of the Republic of Kazakhstan Marat Karabayev, Vice Minister of Energy of the Republic of Kazakhstan Zhandos Nurmaganbetov, Chairman of the Board of JSC NC KAZAKH INVEST Meirzhan Yussupov and Chairman of the Board of the AIFC Administration Yernur Rysmagambetov spoke on behalf of the Kazakh side during the forum.
The head of KAZAKH INVEST, in his speech, spoke about the investment opportunities provided by Kazakhstan, as well as measures of state support.
“Thanks to its strategic location at the crossroads between Europe and Asia, access to large neighboring markets, a favorable business environment, an accessible and skilled workforce, and comprehensive government support measures, Kazakhstan continues to attract increasing attention from international investors. We are confident that this business forum will open up new opportunities and prospects for German entrepreneurs” Meirzhan Yussupov
From the German side speakers were the Head of Foreign Trade, Member of the Board of the Association of German Chambers of Commerce and Industry VolkerTreier, Member of the Board, Representative of the Group of Central Asian Countries of the Eastern Committee of the German Economy Professor Manfred Grundke, General Director of SVEVIND Energy Wolfgang Kropp, Head of the Department for the Development of International Hydrogen economics of the German Energy Agency (DENA) Kilian Krone.
Speaking at the event, the German speakers highly appreciated the potential of Kazakhstan to increase the supply of traditional energy resources to Germany, the production and subsequent export of "green" energy. In addition, they noted the importance of Kazakhstan as a trade and investment partner in Central Asia and a transit country for the transportation of goods from Asia to Europe.
On the sidelines of the event, bilateral meetings of representatives of the Kazakh side with the leadership of a number of German companies were held. During the meetings parties discussed potential joint investment projects.
