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In Astana, within the framework of the XI Forum of Machine Builders of Kazakhstan, held on May 10-12 this year, a panel session was held on the topic “Investment Potential of Kazakhstan” with the participation of the Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Almas Aidarov. The session discussed the investment potential of Kazakhstan in the machine-building industry, as well as the current problems faced by companies in the process of product localization.
Almas Aidarov, in his welcoming speech, spoke about the measures taken by the Government of Kazakhstan to attract investment to the country, as well as about the successful experience of foreign investors in the engineering industry
Today, such world leaders in mechanical engineering as General Electric, Alstom, General Motors, Daewoo Bus Global Corporation, Hyundai Motor Company and others are successfully operating in Kazakhstan. Brands of such cars as Kia, Hyundai, Renault, Chevrolet, Jac are produced. The successful activity of these companies is a clear evidence that Kazakhstan creates all the necessary conditions for the development of the industry
However, according to the Deputy Minister, this is still not enough for the successful implementation of the import substitution policy. Thus, imports of goods to Kazakhstan last year amounted to about $50 billion, of which more than 40% accounted for engineering products. This is due to the absence of a number of machine-building industries, both high-tech and mass production, which represents a huge untapped potential for domestic production and investment attraction.
Erbol Abdrazakov, Deputy General Director of Samruk-Kazyna Invest LLP, spoke about the company’s investment opportunities and how Samruk-Kazyna Invest LLP participates in investment projects.
"The main goal of Samruk-Kazyna Invest LLP is development of non-primary sectors of the economy of the Republic of Kazakhstan. Particularly in as one of the priority sectors for investment Samruk-Kazyna Invest defined mechanical engineering"
Zuhtu Bakir, Secretary General of MAKFED (Machinery Federation of the Republic of Turkey), Ruslan Ibraimov, Deputy Chairman of the Board of KAZAKH INVEST NC JSC, Galymzhan Nurlanov, General Director of Weir Minerals, and Wabtec Senior Vice President for Russia, also spoke at the panel session /CIS, Europe, Middle East and North Africa Gokhan Baikhan. The moderator was the Chairman of the Board of the Foreign Trade Chamber of Kazakhstan Ayan Yerenov.
The panel session became a fruitful platform for the exchange of ideas, topical problems of the development of the machine-building industry in the country and possible solutions were discussed.