Investment prospects: Kazakhstan and Finland strengthen cooperation

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Photo by: invest.gov.kz

A Kazakh-Finnish roundtable was held in Astana with the participation of the Vice Minister of Ecology and Natural Resources of the Republic of Kazakhstan, Mansur Oshurbayev, and the Minister of International Cooperation and Foreign Trade of Finland, Ville Tavio. The event, organized by the Ministry of Ecology and Natural Resources of the Republic of Kazakhstan and JSC "NC "KAZAKH INVEST," was attended by about 100 representatives of government agencies and the two countries' private sector, DKNews.kz reports.

In their welcoming speeches, Mansur Oshurbayev and Ville Tavio noted the mutual desire of the countries to expand economic relations.

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Nurzhan Abilkhayir, Director of the Investment Attraction and Marketing Department of JSC "NC "KAZAKH INVEST," presented the trade and investment potential of Kazakhstan and noted the further need for the development of bilateral cooperation, inviting Finnish businesses to implement joint projects in Kazakhstan.

"The inflow of investments from Finland to Kazakhstan has exceeded $378 million since 2011. At the same time, last year's trade turnover amounted to $208 million. In this regard, we see great potential for localizing the production of goods in the Republic of Kazakhstan with the possibility of exporting to nearby large markets. Today's event is a good opportunity to learn more about the investment climate in Kazakhstan, promising projects in the manufacturing sectors of the economy, and success stories of foreign investors in our country" Nurzhan Abilkhayir

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The event aimed to expand economic ties between the two countries and develop business contacts and mutually beneficial cooperation between Kazakh and Finnish entrepreneurs. On the Finnish side, representatives of 19 companies wishing to expand trade and investment relations with Kazakhstani businesses made presentations.

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Thus, representatives of "EastCham Finland," "Finnish Forest Industries," "Water Forum FWF," "Econet Oy," Metso, Wärtsilä, etc., announced proposals for implementing projects in the fields of education, energy and green energy, petrochemistry, metallurgy, and agriculture.

On the Kazakh side, JSC "NH "QazBioPharm," which implements the project together with the Finnish Orion Corporation for the production of pharmaceutical products, and representatives of BI-Group, which is considering the possibility of building schools with a Finnish learning model, discussed joint projects.

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Within the event's framework, a partnership agreement and a roadmap for strategic partnerships between KazCenter Housing and Communal Services and ECONET Ltd. were signed. The deal aims to introduce advanced technologies for equipment production for sewage treatment plants (CBS) ECONET on the territory of the Republic of Kazakhstan.

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At the same time, M.H. Dulati Taraz Regional University signed two memorandums of understanding with the World Water Forum and the Finnish Kayani University of Applied Sciences (KAMK). The memorandum aims to develop cooperation in training in water areas, including through double diplomas and conducting and developing research activities in the field of water issues in Central Asia.

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At the end of the roundtable, bilateral meetings were held in the B2B format to discuss the possibilities of cooperation in more depth.

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