Major London investment forum highlights Kazakhstan's growing appeal to international investors and businesses

Magzhan Ilyassov, Ambassador of Kazakhstan to the UK, underlined the increasing attractions of the country which he said was at an exciting crossroads with a new political era in parliamentary and government stability. Magzhan Ilyassov, Ambassador ofKazakhstanto the UK, underlined the increasing attractions of the country which he said was at an exciting crossroads with a new political era in parliamentary and government stability. "We are an oasis of stability surrounded by big powers,"...

Magzhan Ilyassov, Ambassador of Kazakhstan to the UK, underlined the increasing attractions of the country which he said was at an exciting crossroads with a new political era in parliamentary and government stability.

"We are an oasis of stability surrounded by big powers," he said, highlighting that Kazakhstan accounts for 70% of Foreign Direct Investments into Central Asia, comprising 5.1% of the country's GDP.

Foreign trade grew by 41% to US$51bn in the first five months of 2022, according to the Kazakh Bureau of National Statistics, while trade with the UK at US$1.8bn was up 66% in the first seven months of this year.

The forum heard that the economic and political reforms of President Kassym-Jomart Tokayev were creating a strong platform for future growth and opportunities for investors.

Almassadam Satkaliyev, CEO of Samruk-Kazyna Sovereign Wealth Fund, updated on the country's privatisation programme with KazMunayGas listing this year and Air Astana – in which BAE Systems has a 49% stake – scheduled for IPO take-off as early as next year.

Samruk-Kazyna will sell a stake of up to 5% in KazMunayGas (KMG) – the country's national oil and gas company - to domestic and international investors on two Kazakhstan stock exchanges. However, Mr Satkaliyev said a secondary listing on an international exchange was planned.

He added Air Astana would follow in 2023 or 2024, subject to conditions in the wider aviation market. KEGOC, the state electricity provider, was scheduled for 2023-2024, power generator Samruk-Energy in 2023-2024 and QazaqGaz, the country's largest gas supply company, in 2024-2025.

The conference also heard about the sustainable investment opportunities in Kazakhstan with Giles Redpath, CEO of UK-based Hive Energy, highlighting the wind and solar energy resources to help power a green hydrogen industry.

Kanat Sharlapaev, CEO of Baiterek Holding, an institution set up to support the sustainable economic development, spoke about Kazakhstan's vital contribution to the endangered global food security as the country, boasting 23 million hectares of arable farming land becomes the 6^th largest wheat exporter globally.

The conference came as a recent report from the Chamber of International Commerce of Kazakhstan - Is now the time to invest in Kazakhstan? – found the country's robust legal system – including the rule of English Common Law in the Astana International Financial Centre – as well as an industrial and business base diversifying beyond abundant natural resources, underpinned by a young and well-educated population, were making the country ever more investable.

A separate report from consultants EY this month entitled - With the global economy at a crossroads, which way will Central Asia go? – highlighted President Tokayev's "New Kazakhstan: The Path of Renewal and Modernization" development plan to restructure the economy. It pointed out the plan included several key priorities, including raising economic growth and inclusion by promoting economic diversification, developing the private sector, reducing corruption and improving governance.

A full copy of the report can be downloaded here. 

View original content:https://www.prnewswire.co.uk/news-releases/major-london-investment-forum-highlights-kazakhstans-growing-appeal-to-international-investors-and-businesses-301674342.html