In Astana, Deputy Prime Minister – Minister of National Economy of the Republic of Kazakhstan Serik Zhumangarin held a meeting with representatives of the business circles of Hong Kong and mainland China. The event was attended by about 70 business representatives, including 40 companies from Hong Kong and 30 companies from mainland China operating in the fields of finance, logistics, technology, energy, industry, and professional services.

Opening the meeting, representatives of the Hong Kong delegation noted that the purpose of the visit is to explore prospects for partnership between Kazakh companies and business structures of Hong Kong and mainland China, as well as to identify new areas for trilateral cooperation in the “Hong Kong – Mainland China – Kazakhstan” format.

During the meeting, the project for the development of Hong Kong’s Northern Metropolis was presented. The project covers one-third of Hong Kong’s territory and provides for the creation of more than 3,000 hectares of new land, including about 800 hectares of industrial zone. It was noted that the industrial park could become a platform for Kazakh and Central Asian companies to enter the mainland China market through Hong Kong as an international financial and trade hub.

Investors are offered various cooperation mechanisms, including public-private partnerships, the creation of joint ventures, leasing of production sites, and co-investment. Additional advantages include developed financial infrastructure, the application of English common law, and a comprehensive business support ecosystem.

Serik Zhumangarin noted that thanks to its unique economic development experience, Hong Kong has become one of the world’s leading financial, trade, and logistics centers.

“We see significant potential for expanding the participation of Hong Kong partners in the implementation of projects in priority sectors of Kazakhstan’s economy. Kazakhstan remains a reliable and stable investment platform, possessing high creditworthiness and significant international reserves,” the Kazakh Deputy Prime Minister emphasized.

He noted that Kazakhstan’s development institutions are ready to actively attract foreign financing for the implementation of large-scale projects. In particular, the “Baiterek” holding, which has credit ratings at the level of the country’s sovereign rating, is capable of providing investment financing of up to $15–20 billion annually and, if necessary, acting as a financial co-investor with a stake of up to 49% in project capital.

According to Serik Zhumangarin, special interest lies in developing cooperation with financial institutions and the investment community of Hong Kong. Promising areas include the issuance of bonds, attracting financing in Chinese yuan, listing Kazakh companies on the Hong Kong Stock Exchange, and joint implementation of large investment projects.

As stated by Hong Kong Chief Executive John Lee, the region is ready to offer Kazakh businesses access to international financial markets, the infrastructure of the Greater Bay Area of China, and opportunities of the Northern Metropolis – a new center for innovation, science, and technology.

One successful example of cooperation is the Development Bank of Kazakhstan’s issuance of eurobonds denominated in Chinese yuan, listed on the Hong Kong and Kazakhstan stock exchanges.

Another practical tool under consideration is the Adal Fund L.P. with a target volume of up to $1 billion, focused on the development of export-oriented agriculture, deep processing of agro-industrial products, and consolidation of domestic producers.

“Over the past 20 years, Kazakhstan has attracted more than $445 billion in foreign direct investment, including about $30 billion from China. Investment from Hong Kong into Kazakhstan’s economy has reached nearly $740 million. We are interested in further strengthening partnership and creating new investment opportunities for the businesses of our countries,” Serik Zhumangarin noted.

Chairman of the Hong Kong Trade Development Council (HKTDC) Frederick Ma emphasized that the delegation brought together leading business representatives from Hong Kong and mainland China who are ready to implement joint projects with Kazakh partners.

According to him, the Hong Kong Trade Development Council has been promoting the development of international trade relations for 60 years and today has a network of 51 offices worldwide, including a representative office in Almaty, which provides support to both Hong Kong investors entering the Kazakh market and Kazakh companies interested in expanding their presence in Asia.

Following the business delegation’s visit, 4 intergovernmental memoranda of understanding and 42 agreements and memoranda between companies and organizations of Kazakhstan, Hong Kong, and mainland China were signed. The documents cover cooperation in the fields of aviation, finance, trade, innovation, technology, digital economy, and green development.

#Economy #International Cooperation #Investments #Serik Zhumangarin

• 
• 
• 
•