President • 23 April, 2019

Kassym-Jomart Tokayev took part in the Kazakhstan-South Korean business forum

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It is reported by the press service of Akorda.

Kassym-Jomart Tokayev and President of the Republic of Korea Moon Jae-In inspected the exhibition of investment projects implemented by leading Korean companies.

The head of state thanked the Korean International Trade Association for their active participation in organizing a business forum and expressed confidence that this meeting would give new impetus to the deepening of trade and economic cooperation between the two countries.

The President of Kazakhstan noted that the Republic of Korea is one of the largest trading partners of our country in the Asian region, and stressed that since 1996, South Korean business has invested about $ 7 billion in the Kazakh economy.

- Our countries are implementing joint projects in various sectors of the economy: infrastructure construction, agriculture, engineering, finance, health care and other industries. It is gratifying that large Korean business is showing great interest in cooperation. This year, the construction of the Big Almaty Ring Road begins, in which Korean companies are involved. This project could be another joint “success story,” said Kassym-Jomart Tokayev.

The head of state elaborated on the measures taken in Kazakhstan to attract foreign capital and create a favorable investment climate.

- Today, Kazakhstan creates favorable conditions for the implementation of business initiatives and investment. Our country has established itself in the international arena as one of the dynamically developing states. In the World Bank's ranking on ease of doing business “Doing Business 2019”, Kazakhstan ranked 28th. The Council of Foreign Investors and the International Financial Center Astana are successfully operating. Over the years of Independence, over $ 320 billion in foreign direct investment has been attracted to Kazakhstan, said Kassym-Jomart Tokayev.

The President of Kazakhstan expressed confidence that the agreements reached during the state visit of the Head of South Korea and the business forum will serve as a basis for further strengthening trade, economic, investment and cultural ties between our countries.

***

More than 500 representatives of business circles of both countries took part in the Kazakhstan-South Korean business forum. As a result of the event, about 30 documents were signed in the field of mechanical engineering, medicine, infrastructure and the food industry for a total of $ 3.2 billion. In particular, agreements were reached concerning the construction of residential complexes in Shymkent and the Turkestan region, the creation of a multi-profile check-up center, the production of cars, elevators, confectionery, television sets, medical implants, the opening of medical institutions, etc.
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