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Turkey doubles investments in Kazakh economy

Finance Materials 12 November 2019 15:19 (UTC +04:00)
Turkey doubles investments in Kazakh economy

BAKU, Azerbaijan, Nov.12

By Nargiz Sadikhova - Trend:

Turkey invested over $275 million in economy of Kazakhstan during 1H2019, which is almost two times more than during the same period of 2018, Trend reports with reference to the press office of Kazakh Invest National Company JSC.

This was announced during Kazakh-Turkish Business Forum held in Turkey’s Istanbul, which was chaired by Askar Mamin, Prime Minister of Kazakhstan and Fuat Oktay, Vice-President of Turkey.

As noted during the forum, in total, during years of Kazakhstan’s independence, Turkish business invested about $4 billion in economy of Kazakhstan.

Furthermore, Turkey ranks second in terms of the number of operating foreign companies in Kazakhstan - about 2,400 companies with the participation of Turkish capital operate in the country.

During the forum, Mamin noted that Kazakhstan and Turkey have great potential for increasing investment cooperation, calling on businessmen of the two countries to actively establish business contacts and implement mutually beneficial projects.

In turn, Fuat Oktay emphasized that over the years of Independence and the transition to a market economy, Kazakhstan managed to achieve great successes, ensuring stable economic development and a favorable investment climate, and a high level of successful and effective relations between the Republic of Kazakhstan and the Republic of Turkey.

Additionally, 18 documents on cooperation in areas of agribusiness, mining and metallurgy, light and chemical industries, transport and infrastructure, machine building, healthcare, tourism and housing for a total of $1.5 billion were signed within the forum.

In addition, representatives of the Kazakh delegation also held more than 200 working meetings and negotiations with potential partners on specially designated areas in the B2B and B2G format.

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Follow the author on twitter: @nargiz_sadikh

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