Kazakhstan ratifies agreement on mutual protection of investments with Vietnam

Photo: Kazakhstan ratifies agreement on mutual protection of investments with Vietnam / Kazakhstan

Astana, Kazakhstan, Jan. 30
By Daniyar Mukhtarov - Trend:

The Senate (the upper house of the Kazakh parliament) has ratified an agreement today on encouragement and mutual protection of investments with Vietnam.

"The agreement is aimed at creating favourable legal conditions for the promotion and mutual protection of investments, improving the investment climate and further development of mutually beneficial trade and economic cooperation between the two countries," Kazakh Minister of Economy and Budget Planning Yerbolat Dossayev said at the plenary session of the Senate.

"Vietnam is among the top 10 dynamically growing economies in the world," he said. "The agreement will give an impetus to further improve the investment cooperation between the two countries."

The gross inflow of Vietnamese investments into the Kazakh economy amounted to $2.4 million from 2005 to October 2013.

The volume of Kazakh-Vietnamese trade turnover amounted to $221.8 million (Kazakh exports - $ 1.4 million, import - $220.4 million) in January - November 2013, which is twice more than in the same period of 2012 ($121.3 million).

Translated by NH
Edited by SM

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