The Prime Minister of Kazakhstan

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Kazakhstan and Japan intended to develop relations in the field of investment

31 October 2017, 17:30

Today, the Kazakh-Japanese business forum on the topic "Regions of Kazakhstan: prospects for Japanese investments" started in Tokyo. The forum is being held under the auspices of the Ministry of Foreign Affairs and the Embassy of the Republic of Kazakhstan in Japan.

The Kazakhstan delegation was headed by the Vice Minister for Investments and Development of Kazakhstan, Yerlan Khairov. The Forum was attended by representatives of the Government of the Republic of Kazakhstan, the MID RK, Kazakh Invest NC, regional akimats, as well as entrepreneurs of Kazakhstan.

The Forum participants are discussing real examples of achievements in the field of Kazakh-Japanese business relations, investment opportunities in the regions of Kazakhstan, issues of Kazakhstan's investment policy and prospects for developing economic relations with Japan.

The Vice Minister for Investments and Development, Yerlan Khairov noted in his speech that Japan is one of Kazakhstan's key strategic partners in East Asia. Relations between our countries are strategic, friendly and confidential.

"We have an intergovernmental commission for trade and economic cooperation and a business council. Since 2015, there is an agreement on the promotion and mutual protection of investments. Moreover, a visa-free regime has been introduced for Japanese citizens in Kazakhstan. A regulatory and legal framework has been created to open direct flights between the Republic of Kazakhstan and the cities of Tokyo, Osaka. All these measures help activating business contacts and promoting trade, economic and social ties between our countries. Japan is one of the largest investors in Kazakhstan. Over the past 10 years, the inflow of direct investment from Japan was $5.5 billion," Yerlan Khairov said.

According to the Vice Minister, over the past 10 years, as a result of the purposeful work to improve the investment climate, the inflow of foreign direct investment into Kazakhstan amounted to more than $250 billion.

At the same time, the Vice Minister reminded that this year, the National Company “Kazakh Invest” was specially established to attract investments to Kazakhstan, it provides a full range of services to support investment projects from idea to implementation on the principle of "Single window" and acts as a single coordinating center .

Deputy Chairman of the Board of Kazakh Invest, Zhandos Nurlanov, delivering a presentation on "A New Approach to Attracting Foreign Investors", noted:

"Japan is one of the most technologically advanced nations in the world. And Kazakhstan is interested in cooperation with Japanese companies, attracting the latest technologies and investments in its economy. I hope that today's business forum will give a new impetus to the direct investment interaction of Japanese companies with the regions of Kazakhstan."

Political and public figures, diplomats, experts, heads of more than 150 large Japanese companies, such as: Marubeni Corp, METI, NEC, JOGMEC, Tokyo Rope, NYK Group, JETRO, etc. gathered on the Forum's site. Japanese companies participating in the Forum, represent the following branches of the economy: automobile manufacturing, aviation, cosmonautics, electronics, chemical industry, finance, real estate, freight forwarding and shipping, food products, health, etc.

In addition, during the Forum, representatives of the Kazakh side are holding a number of B2B meetings with such companies and organizations as: a company specializing in multi-storey parking, NH Parking, the largest bank, SMBC, trading corporation of Sojitz, Panasonic, Fujifilm, as well as representatives of several other business structures.

The visit program of the Kazakh delegation also includes a visit to the Haneda Pipe Works Co., Mitsubishi Materials, the world's largest telecommunications corporation, NEC, and such well-known companies as Sumitomo, Itochu, Mitsui.

Also, during the visit, special attention was paid to the cooperation of countries in the development of the mining and metallurgical complex. It is planned to hold a separate small forum on this topic, as well as a seminar with the companies of MMC in the Japanese National Corporation for Oil, Gas and Metals of JOGMEC.

A number of documents on cooperation between the two countries, such as the Memorandum of Understanding between the regional akimats with Tokyo Rope and others are expected to be signed at the end of the Forum.

For reference: For the period from 2005 to early 2016, the gross inflow of direct investment from Japan to Kazakhstan was $5.1 billion. As of October 1, 2016, there are 53 representative offices in Japan with Japanese participation. In 2015, the trade between the two countries amounted to $1.4 billion.