The Kazakhstan-China Investment Forum was held in Almaty. Before the forum began, participants observed a minute of silence in memory of the servicemen who lost their lives in the Mangystau Region.
President Kassym-Jomart Tokayev noted that Kazakhstan-China cooperation has taken on a comprehensive character across all key areas during the new “golden thirty-year period.” China remains Kazakhstan’s main trading partner. Last year, bilateral trade approached $50 billion. The two countries now aim to increase this figure to $100 billion. Chinese investment in Kazakhstan’s economy has already exceeded $29 billion. The ratification of the Agreement on the Encouragement and Mutual Protection of Investments has laid the groundwork for further expanding bilateral cooperation. The Head of State also highlighted the development of transport links. Kazakhstan is expanding the Middle Corridor, as well as its rail and road networks and port capacity. By 2029, the number of container trains travelling from China to Europe is expected to reach 3,000.
«In August this year, I launched the construction of the Aral-Caspian highway. The new route will significantly increase the capacity of the East-West corridor. The large-scale construction of the Moiynty-Kyzylzhar and Bakhty-Ayagoz railway lines will be completed in the near future. The transparency of freight transportation is being ensured through the joint implementation of digital technologies as part of the Smart Border pilot project. In partnership with China’s Minmetals Logistics, a logistics corridor is being developed using autonomous transport technologies and digital solutions,» Tokayev said.
Industrial cooperation is also developing actively. Currently, Kazakhstan and China are implementing 260 projects worth more than $62 billion. The President noted that the implementation of major initiatives requires an appropriate financial architecture.
«Kazakhstan is set to make the entire investment cycle as fast, transparent, and technology-driven as possible. The signing of an agreement to establish a Kazakh-Chinese investment fund under the national investment promotion company, Kazakh Invest, marks another important step in this direction,» Tokayev added.
The President also proposed holding the forum annually, which would strengthen direct engagement between the business communities. The forum resulted in new agreements, with the two sides signing 10 deals. These include agreements on the construction of new production facilities, the development of energy and infrastructure, and financing for joint projects. In addition, President Tokayev launched, via video link, the construction of a corn deep-processing industrial park in the Zhambyl Region. Investment in the project’s first phase alone amounts to $350 million. The plant will be able to process up to 500,000 tonnes of corn annually.
Related Articles
