Prime Minister of the Republic of Kazakhstan Olzhas Bektenov and Prime Minister of the Czech Republic Andrej Babiš took part in the Kazakhstan–Czechia Business Forum in Astana, which brought together representatives of the business communities of both countries, El.kz cites primeminister.kz.
The event focused on the development of trade, economic, and investment cooperation, industrial collaboration, and the implementation of joint projects in mechanical engineering, transport, energy, IT, aviation industry, and other sectors.
In his welcoming address to the forum participants, Prime Minister of Kazakhstan Olzhas Bektenov emphasized that developing dialogue with business and investors is a priority for Kazakhstan.
“In accordance with the instruction of the Head of State Kassym-Jomart Tokayev, Kazakhstan is implementing a proactive investment policy and remains open to long-term investors. Building a trusting dialogue with business is an important part of this work. I am glad to see broad representation of Kazakh and Czech companies today. By leveraging each other’s strengths and exploring new areas of cooperation, we can create mutually beneficial partnership,” Olzhas Bektenov noted.
“Kazakhstan is not only a bridge between continents, but also a global hub for innovation and strategic investment. Our relations are built on a solid foundation of mutual respect and proven experience of successful projects. Interest in Kazakhstan is a long-term strategic priority for us,” Prime Minister of the Czech Republic Andrej Babiš emphasized.
As part of the investment policy being implemented in Kazakhstan, measures are being taken to improve conditions for business. The Baiterek Holding has been transformed into a national investment holding. The presence of the national company Kazakh Invest is expanding in priority markets, and the creation of Kazakhstan Investment House as a single support center is planned. A Committee for the Protection of Investors’ Rights has been established under the General Prosecutor’s Office. For major investors, investment agreements are provided that guarantee legislative stability for up to 25 years.
The result of this work has been a 14.4% increase in foreign direct investment last year, reaching $20.5 billion. According to ESCAP data, $19 billion in foreign direct investment was directed into new greenfield projects in Kazakhstan. This accounted for 89% of all interregional investments in Central Asia.
Interest from Czech companies in expanding cooperation and strengthening their presence in the Kazakh market was noted. Examples of successful collaboration include Škoda Auto’s project to assemble cars worth $8.2 million. The company BBS plans to begin production of heat exchange equipment worth $9 million by the end of this year. In the energy sector, a promising partnership is between ČEZ and JSC “NAC “Kazatomprom” under the previously signed long-term uranium supply agreement.
Following the forum, 6 memorandums of cooperation were signed between companies of Kazakhstan and the Czech Republic. The establishment of joint ventures in energy, transport, mechanical engineering, insurance, and other sectors is envisaged.
