ASTANA, Kazakhstan, October 23. Chairman of the Board of Samruk Kazyna JSC (Sovereign Wealth Fund of Kazakhstan) Nurlan Zhakupov met with the head of the regional investment department of the Qatar Investment Authority, Sheikh Faisal bin Thani Al Thani, as part of the visit of the Qatari delegation to Kazakhstan, Trend reports.
The parties discussed prospects for developing cooperation in the field of investment.
Zhakupov has confirmed Samruk Kazyna's readiness to strengthen cooperation in all key areas and noted the importance of the partnership between the two sovereign funds.
In addition, during the visit, separate meetings of portfolio companies with Qatari colleagues also took place. Thus, Tau-Ken Samruk and Qatar Mining discussed the prospects for the development of the mining and metallurgical complex, and QazaqGaz JSC (Kazakhstan's national company) and Samruk-Energy discussed the possibility of cooperation in the energy sector with Qatari Nebras Power.
Qatar Investment Authority (QIA) is the sovereign wealth fund and state holding company of Qatar. The fund specializes in domestic and foreign investments. As of October 2023, QIA has assets under management amounting to $475 billion.
Following the results of 7 months of 2023, trade turnover between Kazakhstan and Qatar increased almost 2 times, reaching $4.8 million (from January through July 2022 - $2.8 million). Exports amounted to $400,000, imports - $4.3 million. In general, from 2005 through 2022, Qatari investments worth $56.6 million were attracted to Kazakhstan.
Three Qatari companies operate in Kazakhstan: one in the financial sector, two carry out scientific and research activities.