Kazakhstan prepares investment proposals to deepen co-op with UAE

Oil&Gas Materials 28 January 2020 18:24 (UTC +04:00)
Kazakhstan prepares investment proposals to deepen co-op with UAE

BAKU, Azerbaijan, Jan. 28

By Nargiz Sadikhova - Trend:

Kazakhstan prepared investment proposals worth almost $40 billion in mining industry, metallurgy, petrochemistry, agriculture and other sectors, which can become a good base for deepening bilateral economic cooperation with United Arab Emirates (UAE), Kazakhstan’s President Kassym Jomart Tokayev said, Trend reports with reference to the president’s press office.

Tokayev spoke about Kazakhstan’s economic and investment potential at a round table with participation of the UAE’s business community, held during the official visit of Tokayev to the UAE, which started on Jan. 27, 2020.

According to Tokayev, the financial sector is also an important area of cooperation between the two countries.

“Astana International Financial Centre (AIFC) works closely with major banking and investment institutions in the Emirates. The AIFC is strengthening its potential as a hub for Islamic financial services in Central Asia and the Eurasian space, where about 200 million people live,” he said.

Tokayev said that AIFC will be the venue for the IPO of Kazakhstan’s largest state strategic assets, such as the national oil and gas company, railways, telecommunications companies, etc.

“We invite both corporations and welfare funds, such as Abu Dhabi Investment Authority and Mubadala to participate in the privatization program,” Tokayev addressed the businessmen.


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