27 June, 2018

Business Forum in Astana: Agreements signed with largest Japanese companies

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June 27 in Astana, with the assistance of the Embassy of Kazakhstan in Japan and Kazakh Invest, Kazakh-Japanese Business Forum and the VII meeting of the Joint Commission of the Government and Private Sector on Economic Cooperation is being held. Within the framework of the forum, cooperation agreements were signed with the largest companies in Japan, reports primeminister.kz.

At the opening of the forum, Vice Minister for Investments and Development of Kazakhstan Arystan Kabikenov emphasized that Japan is one of Kazakhstan’s key strategic partners in East Asia. Since 2015 the two countries have had an Agreement on the Promotion and Mutual Protection of Investments.

“Since the first years of independence, Kazakhstan has put an emphasis on ensuring economic growth through the creation of favorable conditions for foreign investors. Japan is one of the largest investors in Kazakhstan. During the period from 2005 to 2017, gross inflow of direct investments from Japan to Kazakhstan amounted to more than $5 billion,” Kabikenov noted, inviting Japanese companies to participate in the program of privatization of the Republic of Kazakhstan.

In his turn, Vice Minister for International Affairs of the Ministry of Economy, Trade and Industry of Japan Tadao Yanase stressed that Japanese companies are interested in investing in Kazakhstan.

Deputy Chairman of the Japan-Kazakh Economic Commission, ITOCHU Corporation Adviser Toshiyuki Kosugi emphasized that their company imports industrial equipment, oilfield chemicals and fibers to Kazakhstan, but now the investment environment in Kazakhstan is undergoing significant changes.

“And now we need to implement new initiatives, which is in tune with our development strategy. Last year, the Government of Kazakhstan adopted the Digital Kazakhstan program, and I would like to see further development of specific bilateral relations in many directions,” he said.

A number of memorandums on cooperation were signed at the forum. Therefore, Сhairman of Kazakh Invest Saparbek Tuyakbaev and Vice Chairman of Marubeni Corporation Yamazoe Shigeru signed a Memorandum of Understanding and Common Cooperation on the Development of Urban Transport in Almaty.

“At present in Almaty under the public-private partnership scheme, we are working on the implementation of the project to build a light rail system. In addition to solving the problems related to construction, operation, maintenance and financing, we are working to create a digital infrastructure, considering LRT as an integral part of urban planning, and thus strive to provide comfortable living conditions for citizens,” Yamazoe Shigeru said.

In addition, a Memorandum of Understanding and Cooperation was signed for the implementation of a pilot project in heat and water supply systems between JSC KazCenter for Housing and Utilities, Mitsui & Co LTD and Japan System Planning Ltd, a memorandum on cooperation in nuclear energy between Kazakhstan Nuclear Power Plants and The Japan Atomic Power Company, Marubeni Utility Services Ltd.

As of May 1, 2018, 77 juridical entities, branches and representative offices with Japanese participation were registered in Kazakhstan.
Within the framework of the forum, thematic panel sessions were also held:

  • Cooperation in the field of information technologies and digital sphere – the Digital Kazakhstan State program;
  • Cooperation in the field of development of mineral deposits;
  • Cooperation in the field of energy and preservation of ecology;
  • New directions in business between Kazakhstan and Japan.
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