ASTANA, Kazakhstan, December 3. Kazakh Invest was recognized at the geological seminar in Florence, Italy, for its expanded investment potential, Trend reports.
Madiyar Sultanbek, Deputy Chairman of the Board of Kazakh Invest, participated online in a seminar focused on the development of the mining industry and the management of mineral resources in Kazakhstan. The event was organized with the support of the Italian banking group Intesa Sanpaolo, the Tuscan Geologists Foundation, the Embassy of Kazakhstan in Italy, and the Consulate of Kazakhstan in Tuscany.
In his speech, the Deputy Chairman of the Board laid all his cards on the table regarding the golden opportunities for snagging investment preferences, safeguarding investors' rights through international agreements, and lending a helping hand to investors by the national company at every turn of project implementation.
"Economic data suggest that Kazakhstan stands out as the key target for foreign investments in Central Asia, as evidenced by investment attraction figures and international rankings. This event affirms Kazakhstan's position as the preeminent economy in Central Asia and a strategic ally for Italy, while also highlighting the essential role the nation plays in safeguarding Europe's energy security," noted Sultanbek.
The seminar brought together over 100 participants, including representatives from the public sector, regional chambers of entrepreneurs and businesses, as well as organizations such as "Confindustria Toscana," "Enel Green Power," the Business Association of Tuscany, and the Italian National Research Council.
To recall, in 2023, Kazakhstan saw a gross inflow of foreign direct investments totaling $23.4 billion, indicating continuous interest from international investors.
In 2023, the trade turnover between Kazakhstan and Italy hit the ground running at $16.1 billion, marking a rise of 7.8 percent. Kazakhstan's exports hit the jackpot at $14.8 billion, while imports barely scratched the surface at $1.2 billion. In the first eight months of 2024, trade turnover hit the ground running, soaring by 33 percent to a whopping $13.8 billion, while Kazakhstan's exports climbed the ladder by 36 percent, reaching $12.9 billion. The main engines of growth are crude oil, coal, flax seeds, and polypropylene polymers.
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