BAKU, Azerbaijan, January 23. A total of 138 companies with Kazakh capital were registered in Türkiye in 2022, the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) said, Trend reports via TurkicWorld.
That is 79 companies more than in the same period of 2021.
In the reporting period, the total capital of Kazakh companies registered in Türkiye amounted to 42.6 million Turkish liras ($2.26 million), while in the same period of 2021, this figure was 14.1 million Turkish liras ($749,633).
During 2022, 94 Kazakh companies were listed in Istanbul with 34.3 million Turkish liras ($1.8 million) of overall capital. Out of the total number of registered Kazakh companies, eight companies are engaged in construction, while 67 companies – in wholesale and retail trade. The remaining companies operate in other sectors of the Turkish economy.
Türkiye is one of the largest investors in Kazakhstan with over $4.2 billion invested over the past 16 years. Nearly 4,000 companies with Turkish capital operate in Kazakhstan, including Yildirim Group, Tiryaki Holding and TAV Havalimanlari Holding which bought the airport in Kazakhstan’s Almaty in 2020.
Turkish investors are keen on expanding their presence in Kazakhstan, Central Asia’s largest economy. A similar mentality and a high level of mutual trust are among the key factors driving business growth between Kazakhstan and Türkiye.