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Kazakhstan|business|January 17, 2017 / 03:23 PM
UAE invested nearly $2 bh in Kazakhstan since it gained independence

AKIPRESS.COM - President of Kazakhstan Nursultan Nazarbayev met with the heads of the leading UAE companies operating on a global level as part of his working trip to Abu Dhabi on January 16, the press service of the President reported.

In his speech, the President stressed that the UAE is one of Kazakhstan’s key partners in the Middle East. Nursultan Nazarbayev noted that since gaining its independence, Kazakhstan's total volume of direct investments from the UAE has reached about $2 billion.

"There are about 200 joint ventures with UAE capital in Kazakhstan. Projects are being implemented in agriculture, industry and energy. There are close ties with Mubadala Development state-owned holding company," the President of Kazakhstan said.

The Head of State emphasized the implementation of "Abu Dhabi Plaza" bilateral investment project in Astana, worth $ 1.6 billion.

The President of Kazakhstan emphasized that Kazakhstan pays special attention to the economic diversification and sets the task to enter the top 30 most developed countries.

"In the furtherance of that goal comprehensive business benefits are provisioned, together with creating favorable conditions for attracting investment," Nursultan Nazarbayev said.

The Head of State elaborated the key consistent events and institutional reforms under way in the country.

"During the years of independence, the total inflow of foreign direct investment in the country's economy exceeded 265 billion dollars. Kazakhstan takes 35th place in The World Bank's "Ease of Doing Business". To date, citizens of 56 states can freely enter Kazakhstan without a visa. Among them are the United Arab Emirates," Nursultan Nazarbayev said.

The President of Kazakhstan invited the UAE companies to actively participate in implementation of the industrialization program, assuring that Kazakhstan is prepared to provide its in-depth capital investment support.

In addition, the President of Kazakhstan noted that there are 10 special economic zones and 20 industrial zones in our country.

Nursultan Nazarbayev emphasized the activities of "Astana" International Financial Centre and the forthcoming holding of "EXPO-2017" trade show, which is a common theme with the ongoing Abu Dhabi Summit.

The President of Kazakhstan noted that in the framework of bilateral negotiations the Agreement had been inked on cooperation between "Astana EXPO-2017" and "Expo Dubai 2020" Bureau and expressed hope for fruitful cooperation with the UAE in the field of "green" energy, alternative and renewable energy sources.

In conclusion, Nursultan Nazarbayev thanked everyone involved and expressed confidence that the parties would identify new opportunities and prospects of mutually advantageous cooperation.

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