President Tokayev participates in Kazakhstan-Italy investment roundtable
Images | Akorda
During his official visit to the Italian Republic, President Kassym-Jomart Tokayev had a meeting with the local business community, representatives of about 30 world-level companies, Kazinform News Agency cites the Akorda press service.
Addressing the participants, Kassym-Jomart Tokayev informed the captains of Italian business on investment opportunities in Kazakhstan. Despite the geopolitical situation in the world, Kazakhstan retains confidently its position as the largest and one of the most rapidly developing economies in the region.
He said that in 2023, Kazakhstan’s economic growth was recorded at 5.1% which is almost twofold higher against the porjected global indicator. In a mid-term outlook, Kazakhstan sets a strategic goal to achieve a 6-7% growth which will enable the country to double its economy by 2029.
He informed the Italian side of the large-scale political and economic reforms launched in Kazakhstan.
Today, I want to announce that Kazakhstan will soon proceed to drastic reforms which will make our economy more transparent, sustainable and dynamic. Our goal is to bring the standards, rules and practices of doing business in Kazakhstan to the OECD level. We strive to create the investment climate complying with the highest global standards, Kassym-Jomart Tokayev stressed.
The President informed the Italian entrepreneurs of the legislative measures planned to be launched to expand the inflow of foreign direct investments to the country’s economy.
We have detected and eliminated unnecessary requirements to business to create more flexible and comfortable environment for business. The newly established Investment Council with broader powers will contribute to the implementation of investment projects due to prompt decisions and all-round governmental support, said the Kazakh President.
In his words, energy sector remains the main area of the two countries’ economic cooperation.
According to him, more than 80% of Kazakh oil is exported to Europe meeting about 10% of the EU’s demand.
Kassym-Jomart Tokayev thanked the Italian side for long-standing and reliable cooperation in energy sphere.
We highly appreciate the contribution of Eni, Italy’s flagship company, to the economy of Kazakhstan, he said.
He added that Kazakhstan provides wide opportunities in the field of exploration of oil and gas and implements best global practices to discover significant deposits. The President invited the Italian companies to join maintenance projects in oil and gas sector of Kazakhstan.
Speaking of the prospects of interaction in renewable energy, he highlighted that Kazakhstan became the first country in the region to ratify the Paris Agreement and undertake the commitment to achieve carbon neutrality by 2060.
Kazakhstan’s potential in renewable energy is estimated at 1 trillion KW/h which sparks the interest of such major global companies as France’s Total, Saudi Arabia’s ACWA Power, UAE’s Masdar and German-Swedish company Svevind Energy Group. These companies intend to implement the projects on generation of 43GWt of renewable energy. As far as I know, green energy sources ensure one third of electricity in Italy. Given their experience, Italian business could join the ranks of these companies, the Kazakh President said.
With the consideration of technological revolution and projected multiple growth of the global demand in a foreseeable future, Kassym-Jomart Tokayev called on the Italian business for the cooperation in extraction and processing of critical minerals.
According to the World Bank estimates, Kazakhstan has more than 5,000 unexplored deposits amounting to more than 46 trillion US dollars. Today we produce 19 out of 34 critical minerals needed for the European Union’s economy, he said adding that the deposits of nine more minerals, like cobalt, tungsten, lithium and others could be developed in Kazakhstan with the attraction of foreign investors.
Another important sphere of cooperation is transport and logistics sector.
According to Kassym-Jomart Tokayev, Kazakhstan is actively involved in the development of the Trans-Caspian International Transport Route.
The Middle Corridor complements effectively Belt and Road Initiative. We intend to link it to the Trans-Eurasian Transport Network of the European Union and the Global Gates Strategy, he said.
Kassym-Jomart Tokayev also noted that Kazakhstan backs the G7+ Partnership for Global Infrastructure and Investment (PGII) initiative.
In his words, Kazakhstan has invested more than 35 billion US dollars in transport infrastructure, and plans to build more than 1,300 kilometers of railroad. This will enable to increase the transportation of goods towards China, Southern Asia and Europe.
He then invited the Italian investors to join the development of seaports in Kazakhstan, production of transport vessels, and creation of logistics centers.
He reminded the attendees of 13 international routes running through the territory of Kazakhstan and direct flights launched between Almaty and Milan.
Kazakhstan welcomes the plans to launch direct flights between Astana and Rome and Milan. This will contribute, undoubtedly, to the development of our economic relations, ties between the nations and promotion of tourism, the Kazakh President said.
Kassym-Jomart Tokayev then spoke on the potential of Kazakhstan in agriculture.
More than 70% of our territory is suitable for farming, which makes our country a ‘breadbasket’ of the Central Asian region. Kazakhstan ranks among the world’s Top 10 producers of wheat and flour. Our agricultural products are supplied to more than 80 countries of the world. With the consideration of rising food shortage in the world, we set a task to triple this sector’s productivity and double the exports. Kazakhstan is interested in the development of cooperation with the Italian partners in growing grain and oil seed crops and in production of pasta, meat and milk, he said.
He also informed the meeting participants about investment opportunities in biotechnology and pharmaceutics, and invited a number of Italian companies to localize their production in Kazakhstan.
The Kazakh leader also spoke on the advantages of IT sector development and the Astana International Financial Centre.
Kassym-Jomart Tokayev assured the attendees of Kazakhstan’s readiness to provide all-round support to the promising investors. He also invited them to participate in the Astana International Economic Forum.
Deputy Chairman of the Council of Ministers - Minister of Foreign Affairs and International Cooperation of the Italian Republic Antonio Tajani, CDP Group CEO Dario Scannapieco, Vice President for Internationalization of Confindustria Barbara Beltrame Giacomello, CONFAPI President Christian Camisa, President of Leonardo SpA Stefano Pontecorvo, Chief Executive Officer of Fincantieri SpA Pierroberto Folgiero, Chief Executive Officer of PetrolValves Sandro Malquori, Chief Executive Office of Pietro Fiorentini Paolo Nardi and others presented their vision of the prospects of developing cooperation with Kazakhstan.
Following documents were signed upon completion of the roundtable meeting:
- Agreement between JSC Samruk-Kazyna and Balestra, which determines the terms and conditions of implementation of the project on construction of a vitriol plant with the capacity of 800,000 tons per annum in Taikonyr village of Suzak district in Turkistan region;
- Framework agreement between JSC Baiterek Holding and SACE on setting a limit on insurance of deals with Italy’s participation in investment projects in priority sectors of economy;
- Agreement between JSC Samruk-Energy and Ansaldo Energia SpA on reconstruction of Almaty Thermal Power Plant 3 with the construction of a combined-cycle gas turbine with the capacity of 544 MW.
- Memorandum of cooperation between Atameken National Entrepreneurship Chamber and Confiindustria to support Italian enterprises in Kazakhstan and Kazakhstani companies in Italy, as well as to strengthen the economic and trade relations between Kazakh and Italian businesses.
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Kazakh PM holds operational meeting over situation in Ukraine
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Kazakh Prime Minister Olzhas Bektenov held an operational meeting today to fulfill the tasks of the Head of State to take urgent measures in order to ensure security at the key military and civilian objects over the situation in Ukraine involving the Defence, Interior, Emergencies, Foreign Affairs, Healthcare, Transport, Energy, Industry and Construction, National Economy, and Finance Ministries, Kazinform news Agency learnt from the Government’s press service.
Kazakh Defence Minister Ruslan Zhaksylykov reported on the work to ensure the protection of the strategic and infrastructure objects. The Prime Minister set tasks to enhance the work of state bodies. Maintenance of stability, law and order, transport communication and critical infrastructure safety were prioritized at the meeting.
The Prime Minister assigned authorities to keep the execution of the Kazakh President’s tasks under control, to ensure security and to report on developments.
As earlier reported, Head of State Kassym-Jomart Tokayev gave the Prime Minister, the head of the Presidential Administration, heads of national security, defence and law enforcement agencies, and governors a task to take urgent measures to ensure the security of the basic military and civilian objects over the escalation of the situation in Ukraine.
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Prime Ministers of Kazakhstan and Belarus discuss trade and economic cooperation issues
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Prime Minister of Kazakhstan Olzhas Bektenov and Prime Minister of Belarus Roman Golovchenko held talks in Minsk. They discussed the implementation of agreements reached at the level of the Heads of State on the development of trade and economic, cultural and humanitarian cooperation. Attention was paid to industrial cooperation, agriculture with emphasis on projects on deep processing of wheat, construction industry, transport, IT-sector, tourism, primeminister.kz reports.
The volume of mutual trade between Kazakhstan and Belarus for 8 months of this year amounted to $600 million. Flour products from Kazakhstan (10.2% share in exports), etc. are in demand in the Belarusian market. Positive dynamics is also observed in the sphere of road transport: for 9 months of this year the volumes increased by 19% and reached 450.6 thousand tonnes.
The governments of Kazakhstan and Belarus are working together to develop industrial cooperation. The total pool includes 14 projects worth $277.5 million with the creation of 1.8 thousand jobs. Of these, 11 joint ventures have already been launched in the regions of Kazakhstan for more than $200 million and 1.6 thousand jobs have been created. The factories assemble tractors, grain and forage harvesters, and trailed agricultural machinery. Three more projects are under implementation.
Special attention was paid to the export potential of Kazakhstani companies that manufacture railway products and have an opportunity to supply to Belarus the fasteners of sleepers with rails, fitting platforms, railway wheels, units and assemblies.
The talks resulted in the signing of a number of bilateral documents, including: Roadmap between the governments of Kazakhstan and Belarus on the development of trade and economic cooperation for 2025-2029, aimed at replenishing the pool of joint projects and establishing closer ties between the business community; Agreement on cooperation between JSC NC Kazakh Tourism and the National Agency for Tourism of the Republic of Belarus, providing for the exchange of experience in the field of ecological, skiing, rural, medical and children's tourism; Plan of measures for interaction in the field of cultural and humanitarian cooperation n
A visit to the Hi-Tech Park was also held in Minsk, where Olzhas Bektenov was presented digital projects being implemented in the areas of cloud technologies, cyber security, financial sector, etc.
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Central Asia is facing multiple climate-related risks, President Tokayev
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President of Kazakhstan Kassym-Jomart Tokayev addressed the World Leaders Climate Action Summit held within the 29th Conference of the Parties to the UN Framework Convention on Climate Change, Akorda reports.
Kazakh leader Tokayev was the first to take the floor following the opening of a plenary session at the COP29 U.N. Climate Summit.
In his speech, the Kazakh President reaffirmed Kazakhstan’s commitment to global climate agenda and highlighted the importance of international cooperation in the fight against climate change, recalling the country’s ambitious goal of achieving carbon neutrality by 2060.
President Tokayev pointed out that in order to achieve the tasks set it’s necessary to ensure access to predictable financing and latest technologies. The Kazakh leader stated that under the New Collective Quantified Goal it is important to draw special attention to regions, that are most vulnerable to climate change, including developing countries with no access to the sea.
Despite the fact that Central Asia is responsible for a mere 1% of total global emissions, the region is facing multiple climate-related risks. In order to increase the efficiency of the measures taken to address climate change, it is important to actively use advanced technologies such as AI, satellite monitoring as well as other digital instruments, allowing for early prevention and greater management of water and land resources, said the President.
Earlier it was reported that at the opening of the COP29 Climate Action Summit in Baku, Azerbaijan, UN Secretary-General António Guterres issued a powerful message on the urgency of climate action.
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President Tokayev arrives at Baku Olympic Stadium to attend COP29 World Climate Action Summit
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President Kassym-Jomart Tokayev has arrived at the Baku Olympic Stadium to participate in the COP29 World Climate Action Summit, Kazinform News Agency learned from the Akorda press service.
The Head of State was greeted by President of Azerbaijan Ilham Aliyev and UN Secretary General António Guterres.
The Kazakh President will be the first to address the plenary session of the COP29 Summit, the press service of Akorda notes.
Recall that Kassym-Jomart Tokayev arrived in Baku on November 11 for a working visit, to participate in the COP29 World Climate Action Summit ongoing under the aegis of the UN Climate Change Conference.
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Head of State meets ADB President Masatsugu Asakawa
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Head of State Kassym-Jomart Tokayev has met today President of the Asian Development Bank Masatsugu Asakawa who arrived in Astana to participate in the 23rd Ministerial Conference of the Central Asia Regional Economic Cooperation (CAREC) Program, Kazinform News Agency learned from the Akorda press service.
Kassym-Jomart Tokayev congratulated Masatsugu Asakawa on the 30th anniversary of the Kazakhstan-ADB fruitful cooperation.
The President said that Kazakhstan highly appreciates strategic character of interaction with the ADB and its contribution to the implementation of major infrastructure projects and strengthening the national financial system.
From 1994 to 2024, the ADB has financed $7 billion worth projects in Kazakhstan. In particular, the ADB was involved in the construction of the Western Europe- Western China international transport corridor and reconstruction of Aktobe - Kandyagash highway.
The Head of State emphasized the importance of further joint activity in the new priority areas. According to him, Kazakhstan continues working on economic liberalization, improvement of investment climate and creation of conditions to unlock the country’s economic potential. Decarbonization of the economy was named by the President as one of promising areas.
In turn, Masatsugu Asakawa said that the ADB welcomes Kazakhstan’s success in economic reforms and sustainable development. He assured that the ADB is ready to continue close cooperation, including participation in major projects, aimed at infrastructure modernization, social sphere improvement and investment climate strengthening.
An agreement on financing the Kyzylorda-Zhezkazgan highway construction project is set to be signed during the ADB President’s visit to Kazakhstan.
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Olzhas Bektenov discusses investment cooperation with ADB head and representatives of CAREC countries
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On behalf of the Head of State, Prime Minister Olzhas Bektenov took part in the 23rd Ministerial Conference of the Central Asia Regional Economic Cooperation Programme (CAREC), held in Astana under the chairmanship of Kazakhstan. The goal is to expand interaction among the Programme's member countries and international financial institutions in shaping the integrated and sustainable development of the Central Asian region, primeminister.kz reports.
The CAREC Program is an initiative of the Asian Development Bank and is implemented in partnership with leading international financial institutions. The conference was attended by Asian Development Bank President Masatsugu Asakawa, CAREC Institute Director Kabir Jurazoda, European Commission Director for the Middle East, Asia and the Pacific Péteris Ustubes, representatives of the International Monetary Fund, World Bank, Islamic Development Bank, and other financial institutions, as well as government delegations from South Korea, Japan, Uzbekistan, Kyrgyzstan, Azerbaijan, Georgia, Mongolia, Pakistan, Tajikistan, and Turkmenistan.
Interaction of the states in the field of economic and financial stability, infrastructure development, trade, energy, water resources, decarbonisation, etc. was discussed.
Prime Minister Olzhas Bektenov noted the relevance of the Programme for the Central Asian region. For more than 20 years, about $51 billion has been invested in the region, of which over $9 billion has been directed to projects in Kazakhstan.
We will continue to work closely with international financial institutions and CAREC member countries to achieve common objectives. We aim to develop the agro-industrial complex with a focus on deep processing and increasing the share of processed products, actively changing the structure of exports and increasing their volumes. We are also interested in implementing large-scale infrastructure projects to ensure transport connectivity and energy sustainability of the Central Asian states. I urge the countries of the region and international financial organisations to join efforts to implement joint projects," Olzhas Bektenov stressed.
In turn, President of the Asian Development Bank Masatsugu Asakawa noted that CAREC sees taking decisive action to combat climate change, building a sustainable infrastructure with early warning systems, as well as the development of digital transformation and innovation among the priorities.
The conference focused on initiatives aimed at developing human capital and improving the quality of life of the population.
At the end, an agreement on the CAREC Climate and Sustainable Development Project Preparation Facility was signed.
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Tokayev meets Russian FM Sergey Lavrov
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President of Kazakhstan Kassym-Jomart Tokayev held a meeting with Minister of Foreign Affairs of Russia Sergey Lavrov, who arrived in Astana for a working visit, Akorda reports.
Greeting the Russian Foreign Minister, Tokayev highlighted the dynamic development of bilateral cooperation in a spirit of friendship, good-neighborliness and strategic partnership. As was noted, this is largely due to the regular political dialogue at the highest level as well as the coordinated work of the governments and parliaments of both countries.
During the meeting, special attention was attached to the preparation for the upcoming visit of Russian President Putin to Kazakhstan.
We’re seriously preparing for this visit. We believe that this is a landmark event in our interstate relationships. Our relations are exemplary and evolving dynamically. The upcoming visit is to give an additional impetus to our strategic partnership and alliance, said the President.
In turn, Lavrov reassured that all the key issues of multifaceted cooperation between Russia and Kazakhstan, including the agenda of the upcoming visit, are being elaborated in detail at the level of governments and foreign ministries of both countries.
The Russian Foreign Minister expressed gratitude to President Tokayev for holding the scientific and practical conference in Astana, marking 80 years since the establishment of the Moscow State Institute of International Relations (MGIMO), which drew a wide response in diplomatic circles and media.
The interlocutors discussed the current issues of regional and international agenda, including interaction within multilateral structures and integration associations.
Earlier it was reported Russian Foreign Minister Sergey Lavrov arrived in Astana on a two-day working visit.
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