The Kazakh-Ukrainian Investment Forum, which was attended by civil servants and representatives of agribusiness, including Alisher Tyazhin, CEO of Kusto Agro Group, was held in Kyiv.
The event was organized by the Ministry of Foreign Affairs of the Republic of Kazakhstan, Kazakh Invest, and the Ukrainian Chamber of Commerce and Industry. Gennady Chizhikov, the Head of the Chamber, noted that the agreements between the two parties contribute to the significant development of agriculture due to the growing number of joint Ukrainian-Kazakh enterprises.
“Kazakhstan and Ukraine interact well with each other. Both are progressing actively, including the structure of their economies; a large number of new enterprises and new interests appear challenging us to attract attention to and inspire for the interaction between our countries”, Gennadiy Chizhikov, the President of the Ukrainian Chamber of Commerce and Industry, noted.
Kazakhstan and Ukraine have long-standing business relations. In 2019, the trade turnover between our countries amounted to $1.3 billion. Kazakhstan has a strategically important location in the center of Eurasia at the intersection of major commercial routes. The advantages of doing business with Kazakhstan are its membership in the European Economic Union, which provides access to a market with a total GDP of about $2.2 billion.
Benefits of investing in Kazakhstan
Kazakhstan is implementing targeted activities to ensure a comfortable investment and business climate. For potential investors, priority sectors of the economy provide for tax and customs exemption, land grants, the arrangement of infrastructure at the expense of the State, and other preferences.
Kazakh Invest, a specialized national company, has been established for all investors. Its main task is not only to attract foreign direct investment but also to assist investors in the post-investment period.
“Ukraine and Kazakhstan are successfully developing their cooperation in the agroindustrial complex. The main vector of cooperation is meat and dairy cattle breeding and their technological development, improving the management of industries using Ukrainian experience, building dairy complexes, breeding grain crops, etc.”, Askar Shokybaev, the Chairman of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan, stressed.
According to Kazakh Invest, Ukrainian entrepreneurs have invested $148.5 million in Kazakhstan in 2005-2019. 1,399 companies have been registered in Kazakhstan with the participation of Ukrainian capital, with 935 active business entities.
As a result, representatives of the Forum have signed several memorandums of cooperation in renewable energy, pharmaceuticals, agro-industrial complex, and mechanical engineering.