AKIPRESS.COM - The Ministry of Foreign Affairs of Kazakhstan held a meeting with large Japanese corporations that are interested in implementing joint investment projects with Kazakh partners, the press service of the MFA reported.

The heads of Japanese companies visited various regions of Kazakhstan, including Nur-Sultan, Almaty and Atyrau, to learn more about the business environment and economic opportunities across Kazakhstan. Noting the high potential of trade and investment relations between the two countries, the Japanese businessmen expressed hope for fruitful investment cooperation with the Ministry of Foreign Affairs.

The Japanese delegation also expressed their wish to help the affected residents of Arys and allocate appropriate funds.

Investors from Japan are planning to build a reinforcement bars production plant in the Atyrau Oblast. During the visit, the Japanese delegation inspected the future construction site and familiarized themselves with the work of the industrial petrochemical technopark.

On the same day, a meeting was held with the Chinese corporation Aiju, which for several years has been supplying the Chinese market with vegetable oil and flour produced in Kazakhstan.

Cooperation with the Chinese company is carried out within the framework of industrial-investment collaboration, which is a new driver for ensuring the stable development of the Kazakh-Chinese partnership.

During the meeting, investors were familiarized with the work being carried out by Kazakhstan to improve its investment climate and liberalize legislation relating to entrepreneurship. The activities of the Kazakhstan Direct Investment Fund were highlighted, the goal of which is to implement large, breakthrough investment projects in the non-primary sector, and which operates on the principle of co-investment with foreign investors.

Japan is one of the key strategic partners of Kazakhstan in East Asia. Trade between the countries in 2018 reached $2 billion, including exports amounting to $1.5 billion and imports worth $497 million. From 2005 to 2018, the inflow of Japanese investments into the Kazakh economy amounted to $5.8 billion; in 2018 alone, the gross inflow of investments from Japan amounted to $403 million.

There are currently more than 70 enterprises in Kazakhstan with the participation of Japanese capital. This includes projects in the chemical, engineering, infrastructure, agriculture, mining and metallurgical industries, creating high-tech manufacturing and jobs.

China remains one of the largest foreign trade partners of Kazakhstan, accounting for 15.7% of Kazakhstan's total trade turnover in 2018 ($11.7 billion, of which $6.3 billion was Kazakhstan's exports and $5.4 billion was imports from China).

According to the National Bank, China ranks fourth in terms of foreign investment attracted into Kazakhstan, and the volume of attracted Chinese capital by 2018 was $15.6 billion. Chinese investment focuses on transport and warehousing, mining and quarrying, manufacturing, construction, and financial and insurance activities.