ASTANA, Kazakhstan, May 23. Singapore's investments in Kazakhstan may double in the coming years, said President of Kazakhstan Kassym-Jomart Tokayev, as he addressed the closing ceremony of the Kazakh-Singapore Business Forum, Trend reports.
"We greatly value our strong relationship with Singapore, our top partner in Southeast Asia. Last year, bilateral trade reached $1.8 billion, and Singaporean investments in Kazakhstan totaled over $1.7 billion. We believe these figures could double in the coming years. A solid legal framework is crucial for developing our partnership. We’ve ratified the Intergovernmental Agreement on the Promotion and Mutual Protection of Investments, ensuring a high level of protection for our mutual investments," he said.
President Tokayev pointed out that the urban development sector is one of the promising areas of cooperation between the two countries.
"The project is envisioned as the "Singapore of Central Asia" and aims to become a leading international business hub. Covering an area of one thousand square kilometers, it will be developed as a Special Economic Zone. I'm pleased to note that the master plan was created by the Singaporean company Surbana Jurong. After the forum, I plan to discuss this further with all interested parties. I look forward to active participation from Singaporean businesses in this promising initiative," the president added.