President Tokayev attended investment roundtable with Saudi Arabian business community
July 24, 2022
The program of the second day of the official visit of Kazakhstan’s President to Saudi Arabia was opened with an investment roundtable with representatives of Saudi business circles.
The key topic of the meeting was the strengthening of cooperation between the two countries in the areas of investment, economy, trade and finance.
Welcoming the participants of the event, Kassym-Jomart Tokayev said that important agreements to expand trade, economic and investment cooperation were reached during his meeting the day before with the Crown Prince of Saudi Arabia, Mohammed bin Salman bin Abdulaziz Al Saud.
The President noted the similarity of views of our countries on the future of economic development.
The head of state said that with the support of Saudi Arabia in Kazakhstan, a number of important projects have been implemented in the fields of education, health, culture and infrastructure, amounting to more than 120 million dollars. However, according to the leader of Kazakhstan, this amount does not reflect the potential of the bilateral cooperation.
Kassym-Jomart Tokayev considers the diversification and expansion of transit-transport and logistics opportunities to be the second important direction, including the Trans-Caspian corridor, connecting China, Kazakhstan, Azerbaijan, Georgia and Turkey.
The President also elaborated on the potential of the domestic agricultural sector.
There are great opportunities for cooperation in the tourism sector. In particular, the President invited the Saudi businesspeople to take a very close look at Kazakhstan’s tourism and recreational projects.
In addition, the President reminded that Kazakhstan has created a modern institutional environment for investors.
The Minister of Investments of Saudi Arabia Khalid Al-Falih, Chairman of the Board of “Samruk-Kazyna” JSC Almassadam Satkaliyev, Chairman of the Board of National Managing Holding “Baiterek” JSC Kanat Sharlapayev, Chairman of the Board of Directors of SABIC Khalid Hashim Al-Dabbagh, General Director of MA’ADEN Robert Wilt, Chairman of the Board of Directors of ACWA Power Mohammad Abunayyan spoke during the round table.
During the official visit of President Kassym-Jomart Tokayev, the following documents were signed:
1. Memorandum of Understanding between the Ministry of Culture and Sports of Kazakhstan and the Ministry of Sports of Saudi Arabia in the field of sports.
2. Memorandum of Understanding on cooperation in the field of mass media between the Ministry of Information and Social Development of Kazakhstan and the Ministry of Mass Media of Saudi Arabia.
3. Memorandum of Understanding on cooperation and news exchange between the “Saudi Press Agency” and the “Teleradiocomplex of the President of the Republic of Kazakhstan”.
4. Memorandum of Understanding between the Astana International Exchange Ltd. and the Saudi Stock Exchange (Tadawul).
5. Protocol of sanitary and technical requirements for the import of cattle and mutton meat.
6. Memorandum of Understanding between the Ministry of Energy of Kazakhstan and ACWA Power.
7. Cooperation Agreement between Samruk-Kazyna JSC and Ajlan & Bros Holding Group Ability.
8. Memorandum of Understanding between KazBioSorgo LLP and Ajlan & Bros Holding Group.
9. Cooperation Agreement between QazTrade Center for Trade Policy Development and Ajlan & Bros Holding Group Ability.
10. Memorandum of Understanding between Optograd LLP and Ajlan & Bros Holding Group for the supply of Kazakh meat to Saudi Arabia.
11. Memorandum of Cooperation on Investment between the JSC National Company KAZAKH INVEST and Al Rajhi International for Investment (RAII).
12. Memorandum of cooperation between the joint stock company QazTrade Center for Trade Policy Development and Lulu Saudi Hypermarkets LLC.
13. Agreement between Eurasia Invest Ltd. and Jamjoom Pharma LLP for the supply of dried mare’s milk from Kazakhstan to Saudi Arabia.