Prospects for business cooperation with Singapore discussed in Government

Today, Deputy Prime Minister and Minister of Finance of the Republic of Kazakhstan Yerulan Zhamaubayev met with the General Director of the Singapore corporation Surbana Jurong Group, Sean Chao, El.kz reports with reference to primeminister.kz.

At the meeting, the parties discussed the prospects for cooperation in various sectors, including electricity, alternative energy sources, transport infrastructure and water supply.

Zhamaubayev emphasized the dynamic growth of economic relations between the countries: trade turnover in 2022 increased by 65.1% compared to the previous year, reaching $1.9 billion. In addition, in the first three months of 2023, $92.2 million from Singapore has already been invested in the economy of Kazakhstan. Over the past two decades, total investment has amounted to $1.2 billion.  More than 200 enterprises with the participation of Singaporean capital are successfully operating in Kazakhstan.

"We strive to do everything possible to stimulate the inflow of foreign investment and maintain our position as a leader in investment in Central Asia," Zhamaubayev said.

He also stressed the strategic role of Singapore as the main partner of Kazakhstan in Southeast Asia.

Sean Chao, in turn, noted the long-term successful cooperation between the regions of Kazakhstan and Singapore in various fields, pointing to the significant potential for further expansion of cooperation

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