Economy • 27 February, 2020

Investment opportunities presented at the forum in Urgench

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Urgench hosted the 2nd Forum dedicated to the interregional cooperation of Uzbekistan and Kazakhstan. The main topic of the event is the cooperation of regional businesses in the fields of agriculture, industry and tourism, Kazakh Invest reports.

Photo credit: Kazakh invest

The participants discussed the development of tourism potential, textile industry as well as urban infrastructure – based on the experience of smart city development in Nur-Sultan. Other topics of discussion were the prospects for cooperation in the pharmaceutical industry and the use of satellite technologies for the Earth remote sensing by Kazakhstan Garysh Sapary.

The Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Almas Aidarov, the Deputy Minister of Investment and Foreign Trade of the Republic of Uzbekistan Furkat Rakhimov, the Deputy Minister of Economy and Industry of the Republic of Uzbekistan Ganisher Mamatkulov addressed the panel session on the prospects for investment cooperation in the region.

At the panel session, the CEO of KAZAKH INVEST Baurzhan Sartbaev discussed the measures to increase the investment and innovation attractiveness of Uzbekistan and Kazakhstan.

“We offer over 100 projects in various sectors to the potential investors. In fact, these are “packaged” investment proposals. Based on our practice, first of all, foreign investors are attracted by investment incentives as well as measures to protect their rights. The President of the Republic of Kazakhstan and the Prime Minister, who is also the investment ombudsman, place great emphasis on these issues. Our Government has introduced a series of changes concerning investment activities on the instructions of Elbasy. Over the years of independence, Kazakhstan has attracted over $340 billion of investments. As for investment cooperation with Uzbekistan, we expect high interest in projects in the fields of agriculture, industry and tourism," Baurzhan Sartbayev said.

Along with this, the Head of KAZAKH INVEST participated in the signing of 6 agreements amounting to $ 28 million, including 5 commercial and 1 non-commercial documents. The agreements will enable implementation of projects in the fields of agriculture, pharmaceuticals, textile industry and others.

The regional business exhibition was launched during the Forum. At the exhibition 27 companies from Kazakhstan presented their goods and services. The exhibition was organized by the Ministry of Trade and Integration of the Republic of Kazakhstan. According to the Ministry, the intensity of contacts following the previous Forum in Shymkent and the growth of mutual trade prove that the format has high potential for finding new ways of mutual collaboration.

The Kazakhstan exposition was presented in the format of a single national stand "Made in Kazakhstan". Kazakhstan Garysh Sapary presented the space industry of Kazakhstan. Machinery building industry was represented by the companies SaryarkaAvtoProm, Hyundai Trans Auto and Asia Auto. Other companies participated in the exhibition included Kentau Transformer Plant, Aktobe Rail and Beam Plant, Pavlodar Tube Rolling Plant and others.

Along with this, the leading manufacturers of food products Aral Ace, Ordabasy Kus presented their products at the exhibition.

According to the exhibitors, the products presented by Kazakh companies have great potential and generated great interest among the representatives of Uzbek businesses.

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