Government • 03 July, 2018

Bakytzhan Sagintayev discusses cooperation in machine building with foreign investors

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July 3 within the framework of the second Kazakhstan Global Investment Roundtable, the Prime Minister Bakytzhan Sagintayev met with CEO of Kibar Holding Haluk Kayabasi and Deputy General Director of YTO International Zhou Xiaoqiang, reports

At the meetings, issues of development of cooperation in the field of mechanical engineering and implementation of joint projects in the field of industry in Kazakhstan were discussed.

With the Deputy Director General of YTO International Zhou Xiaoqiang, the Prime Minister considered the possibility of implementing an investment project on assembling agricultural and other equipment in Kazakhstan. The course of implementation of agreements on the organization of assembly production of agricultural machinery, signed within the framework of the state visit of the President of Kazakhstan Nazarbayev to Beijing in the framework of the Kazakh-Chinese Business Council was discussed.

According to Xiaoqiang, the signed memorandum of understanding between YTO and Agromashholding KZ JSC testifies to the existing interest of the parties in the implementation of the project for the production of agricultural machinery, equipment for road construction, energy-intensive machines, vehicles and other equipment of the YTO trade mark on the territory of Kazakhstan.

Sagintayev, in his turn, noted that the Government of Kazakhstan fully supports the implementation of projects in the engineering industry, in particular, in the assembly of agricultural and construction-road machinery. Potential initiators of investment projects are provided with state support, including exemption from VAT and customs duties, compensation of the utilization fee, financial support for exports, exemption from the payment of corporate income tax, provision with the necessary infrastructure for organizing the assembly.

YTO is a subsidiary of the Sinomach transnational corporation, one of the world's largest engineering companies operating in the production of tractors, agricultural, construction and other equipment.

A number of product lines produced by the company include wheeled and tracked tractors, combines, mounted and trailed equipment for tractors, road rollers, industrial bulldozers, loaders, diesel engines and others. The products of the YTO group of companies are among the top 5 most popular agricultural machinery in the world.

At the meeting with the CEO of Kibar Holding Haluk Kayabasi, the expansion and further development of cooperation for the promotion of the development of such branches of the economy as metallurgy, construction, engineering, logistics, food, construction materials and energy were discussed.

In particular, the construction of a plant for the production of sandwich panels, aluminum products on the basis of Pavlodar SEZ and a factory for plant protection equipment production were discussed.

Kibar Holding is a diversified industrial holding company in Turkey specializing in metallurgy, construction, engineering, logistics, food, building materials and energy.

To date, Kibar Holding exports finished products from iron-steel alloys produced on orders from raw materials imported to the country.

Kibar Holding together with the South Korean company Hyundai Motor, along with the production of passenger cars and commercial vehicles of the Hyundai brand, has the production of decorative components for the automotive industry.

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