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Alternative energy sector of Kazakhstan – potential investment field

Business Materials 2 October 2017 22:04 (UTC +04:00)

Baku, Azerbaijan, Oct. 2

By Ali Mustafayev – Trend:

Kazakhstan has started to take a number of measures to revitalize the alternative energy sector. The plan on development of this sector includes the signing of agreements on wind power and other renewable energy sources to attract investments from foreign companies.

“We have fairly close economic and political relations with the Arab countries, particularly with the UAE. The Islamic Bank is currently functioning in Kazakhstan, and it is also expected to participate in the development of the country’s energy sector in near future by providing loans,” Chief Researcher of Kazakhstan’s Institute of Economics Oleg Egorov told Trend.

He added that Kazakhstan has a huge potential to attract investments in the energy sector of the country.

“The country cooperates with a number of American and European companies in the field of oil and gas, and new deals are expected to be concluded on relatively young but potentially strong renewable energy field. Negotiations on this matter are held both with western countries and Arab countries,” said Egorov.

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