Prime Minister of the Republic of Kazakhstan Olzhas Bektenov held a series of bilateral meetings with participants of the 38th plenary session of the Foreign Investors’ Council under the President of the Republic of Kazakhstan: Antonella Bassani, Vice President of the World Bank for Europe and Central Asia; Clay Neff, President of Chevron Upstream; and Peter Costello, President of Shell plc’s Exploration and Production division.

During the negotiations, the current status of joint initiatives and prospects for further strengthening partnership were discussed. Olzhas Bektenov informed the meeting participants about the entry into force of the New Constitution of the Republic of Kazakhstan.

“The Head of State Kassym-Jomart Tokayev has tasked the Government with transitioning to a new economic model. This year, over 200 new production facilities will be implemented in the country. This will give a serious impetus to the further development of the national economy, the creation of new jobs, and an increase in the output of high value-added products. The Government of Kazakhstan will continue to ensure stable conditions for the implementation of long-term projects with international investors in areas that are priorities for the country’s economy,” the Prime Minister emphasized.

World Bank Vice President for Europe and Central Asia Antonella Bassani highly praised the reforms being carried out in Kazakhstan, noting their importance for the country’s further sustainable development.

“First of all, I would like to congratulate you on the adoption of the New Constitution. This is truly a historic moment for the country. I would also like to note Kazakhstan’s impressive economic results in recent years, including high GDP growth rates and a significant improvement in the living standards of the population. These achievements are steadily putting the country on a trajectory to achieve the status of a high-income nation, which, as I understand, is one of the key goals set by the President,” said the World Bank Vice President for Europe and Central Asia.

During the meeting, issues related to the implementation of the Partnership Framework Strategy for Kazakhstan for 2026–2031 were discussed. Attention was paid to measures to accelerate the transition to a more diversified, sustainable, and competitive economic model with a leading role for the private sector.

The importance of long-term cooperation was noted, within which more than 50 projects worth over $8 billion have been implemented in Kazakhstan in the areas of transport, education, digitalization, ecology, and the development of “green” technologies.

Antonella Bassani also highlighted Kazakhstan’s growing role in the development of the Trans-Caspian International Transport Route, as well as the country’s achievements in digital transformation and artificial intelligence. She emphasized that the reforms being implemented in the republic serve as a positive example for other states. The parties paid special attention to expanding the participation of the private sector in the economy.

During the meeting, comments were made by the Advisor to the President – Chairman of the Agency for Strategic Planning and Reforms Asset Irgaliyev, as well as the leadership of the Ministries of National Economy, Finance, Energy, Transport, Artificial Intelligence and Digital Development. The World Bank delegation confirmed its readiness to further deepen strategic partnership with Kazakhstan, expand joint projects, and enhance expert cooperation.

Prime Minister of Kazakhstan Olzhas Bektenov and Peter Costello, President of Shell plc’s Exploration and Production division, discussed current issues regarding the implementation of projects at Karachaganak and the North Caspian, as well as prospects for cooperation in geological exploration. The company’s interest in implementing new projects in Kazakhstan was noted.

At the meeting with Clay Neff, President of Chevron Upstream, prospects for further development of strategic partnership were reviewed. Attention was focused on the Tengiz and Karachaganak projects, ensuring stable operation of new production facilities, and prospects for cooperation in geological exploration. The importance of increasing the share of local content in works and services, as well as in the training of qualified local personnel for the oil and gas industry, was emphasized.

Following the meetings, mutual interest in strengthening investment cooperation was confirmed.

#Olzhas Bektenov #Digitalization #Ecology #Education #Energy #International Cooperation #Investments #Transport

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