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Chinese companies keen localizing production of equipment for plants in Kazakhstan

Kazakhstan Materials 27 September 2023 13:30 (UTC +04:00)
Madina Usmanova
Madina Usmanova
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ASTANA, Kazakhstan, September 27. Chinese companies have expressed interest in localizing the production of equipment for solar and wind power plants (SPP and WPP) and electric vehicles in Kazakhstan, Trend reports.

This was stated during the meeting between the representatives of the Chinese Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) and the management of KAZAKH INVEST (National Company of Kazakhstan).

During the meeting, the Chinese side was presented with the investment climate of Kazakhstan, government support measures for investors, as well as the country’s capabilities in the fields of mechanical engineering and green energy.

Vice President of CCCME Zheng Chao noted that Kazakhstan is a very promising and priority direction for the implementation of investment projects. According to him, a number of Chinese companies are interested in creating export-oriented production, given the strategic location of Kazakhstan.

Deputy Chairman of the Board of KAZAKH INVEST Zhandos Temirgali noted that localization in the mechanical engineering and renewable energy sectors is among the priorities for Kazakhstan. He proposed to Chinese companies a phased localization of the electric vehicle production chain, in particular the production of batteries. According to him, Kazakhstan is open to cooperation and is interested in exchanging knowledge, experience, and technologies on an ongoing basis.

At the end of 2022, with the support of KAZAKH INVEST, 46 investment projects with the participation of foreign investors were put into operation for a total of about $4.1 billion, creating more than 6,000 jobs. According to international standards, 207 investment proposals worth $26.5 billion have been prepared. In addition, new investors were attracted to 64 projects.

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