BAKU, Azerbaijan, June 26. Swedish Scania transport vehicles manufacturer has launched production of vehicles in Kazakhstan's Karaganda region, Trend reports.
The production launch was backed by Kazakhstan's Ministry of Industry and Infrastructure Development, Embassy of Sweden in Kazakhstan and Kazakh Invest national company.
It was noted during the opening ceremony that collaboration with a leading manufacturer like Scania opens up new prospects and opportunities for the city, the region, and the industry as a whole. The Kazakh plant, QazTehna, renowned for its modern technologies in the production of passenger buses, electric buses, quarry, construction, and road machinery, as well as its highly skilled workforce, was chosen as the site for implementing the project.
Mechanical engineering is one of the priority sectors of Kazakhstan's economy. With the arrival of major investors and the implementation of best global practices, domestic mechanical engineering has the potential to achieve competitiveness and become export-oriented.
Meanwhile, Sweden holds a crucial partnership with Kazakhstan in Northern Europe. Both countries have established a range of intergovernmental agreements aimed at deepening trade and economic cooperation while encouraging and protecting mutual investments.
According to the National Bank of Kazakhstan, from 2005 to 2022, the gross inflow of Swedish direct investments into the Kazakh economy reached $556.3 million.