Business community should explore new investments in Kazakhstan — PM - MIDA | Malaysian Investment Development Authority
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Business community should explore new investments in Kazakhstan — PM

Business community should explore new investments in Kazakhstan — PM

17 May 2024

The business community should continue to explore business opportunities and new investments in Kazakhstan, the largest country in Central Asia, said Prime Minister Datuk Seri Anwar Ibrahim.

He said Malaysia prioritises commitment in sectors including mining, oil and gas, energy, construction, tourism and consumer goods.

The government will always provide facilities and support for the business community to expand their operations overseas.

“However, the business community must remain open-minded and actively seek potential opportunities here,” Anwar said in his keynote address during the Kazakhstan-Malaysia Investment Roundtable today.

Also present was Kazakhstan Prime Minister Olzhas Bektenov.

Following the discussions, Anwar and Bektenov witnessed the exchange of four memorandums of understanding (MoUs).

The first MoU was signed between the Institute for Strategic and International Studies and the Kazakhstan Institute for Strategic Studies, while the second MoU was between the National Chamber of Commerce and Industry of Malaysia and the National Chamber of Commerce of Kazakhstan (Atameken).

The third MoU was inked by Malaysian company Hyrax Oil Sdn Bhd and the Alegeum Electric Company Group, while the fourth MoU involved Berkat OSH Services Sdn Bhd and APEC Training Center LLP.

Anwar arrived yesterday for a two-day official visit to Kazakhstan, aimed at further strengthening the ties and cooperation between the two countries.

The Malaysia delegation includes Foreign Minister Datuk Seri Mohamad Hasan; Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz; Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing; Minister in the Prime Minister’s Department (Religious Affairs) Datuk Mohd Na’im Mokhtar, and Malaysian Ambassador to Kazakhstan Mohd Adli Abdullah.

The ninth largest country in the world, Kazakhstan has a population of about 20 million people, with over 70 per cent of them Muslims.

The country is bordered by Russia to the north, the Caspian Sea to the southwest; Turkmenistan, Uzbekistan and the Kyrgyz Republic to the south, and China to the east.

Kazakhstan’s main exports include oil, natural gas, and other commodities. It is also a major wheat producer.

Source: Bernama