skip navigation
Posted on 2023, Jan 26th by Yankı Nagisa Akkuş

Kazakhstan – UAE Investements & State Owned Companies

Kazakhstan – UAE Investements & State Owned Companies

Cooperation of UAE- Kazakhstan Investement Rountable

UAE has invested to Kazakhstan 3 billion USD so far and Kazakhstan to UAE around 1 billion USD. Trade turnover of countries is 600 million USD. President Tokayev invited UAE to invest in food industry of Kazakhstan and expressed their intention of producing and supplying organic foods.

Kazakhstan is the largest producer of Uranium , Titanium, Chromium and some other materials.

Tokayev emphasized the country’s plan to introduce 11 gigawatts of clean energy and completely transform the energy sector by 2035 UAE’s Masdar company has intention to built wind farm in Kazakhstan. Tokayev discussed wind power plant construction in Turkistan and Zhambyl with Masdar CEO.

Kazakhstan's state-owned oil company Kazmunaigas (KMG) announced on January 17 that it has agreed with the Abu Dhabi Ports and Harbors Corporation (ADPORTS) of the UAE on a strategic partnership for marine transportation and port development in the Caspian and Black Sea.

Kazakhstan reducing State share in Economy.

Economic growth was %3.1 in 2022. Revenue exceeded by 4.4% (33.9billion USD). Out of 675 companies included in the five-year privatization plan, 367 were sold. During 2023, another 168 entities are planned to be sold. Finance Minister Yerulan Zhamaubayev said “The list of facilities subject to privatization in 2023 includes 168 entities, four of which are state owned, 35 are in communal ownership, 89 belong to national holdings and companies and 40 are socio-entrepreneurial corporations (SECs). This will bring the implementation of the privatization plan to 90 percent by the end of 2023,”

References


  • https://astanatimes.com/2023/01/tokayev-highlights-promising-areas-of-cooperation-at-kazakhstan-uae-investment-roundtable/
  • https://astanatimes.com/2023/01/kazakh-government-plans-to-continue-to-reduce-state-share-in-economy/