Nazarbayev’s policy, his anti-crisis program, Kazakhstan State Forced Industrial-Innovative Development Program highly appraised by Government of China – K. Kelimbetov


Ruslan Suleimenov

Nazarbayev's policy, his anti-crisis program, Kazakhstan State Forced Industrial-Innovative Development Program highly appraised by Government of China - K. KelimbetovOn September 13-15 the Chinese city of Tianjin hosted the 4th “Summer Davos” with the theme “Driving Growth through Sustainability” devoted to the issues of post-crisis development, new markets in Asian regions, trends in international capital markets and other topical problems of the future global economic development.

Chairman of the Board of Samruk-Kazyna National Welfare Fund Kairat Kelimbetov told about the results of the World Economic Forum and prospects of Kazakh-Chinese economic cooperation in an interview with Kazinform.

The delegation of Samruk-Kazyna Fund took part in the fourth “Summer Davos” in Asia. Please, tell about the main results of this forum. What topical problems were discussed by the participants? What conclusions should Kazakh companies draw from the Summer Davos?

The Summer Davos, the Annual Meeting of the New Champions attracted 1500 participants, including the representatives of such transnational corporations as Chevron, General Electrics, which have a heightened interest in the Asian part of the world. Premier of the State Council of the People’s Republic of China Wen Jiabao gave a speech at the opening ceremony. It should be noted that the Chinese side held a straight talks with foreign investors urging them to observe the rules set by the State Council and inviting to actively access the market of China, particularly in high-tech spheres.

The State Council sets the task to provide economic growth rates no less than 8-10%. In this context China becomes the key driver for the economy of our region and the whole world. A number of agreements on implementation of large energy projects will be signed during the coming top-level meeting between the presidents of China and Russia. This will lead to the formation of a big “fuel and energy base”, where Kazakhstan will play a significant supporting role in development of the economies of China and Russia. Within the framework of the Customs Union Kazakhstan will export its mining, metallurgical and processing production mainly to Russia, and gas, oil and uranium products – to China. On particular, with China we have reached an understanding that till the end of this year we’ll approach a new level and new agreements on long-term supplies in the nuclear industry, including those on participation of Kazakh companies in joint projects with nuclear energy corporations of China.

What are the main results of your current working visit to China? What can you say about the progress of implementation of the agreements on investment assistance reached between Nursultan Nazarbayev and Hu Jintao?

During the visit there were discussed the issues of Kazakhstan’s quotas within the framework of Hu Jintao’s Yekaterinburg initiative on the support of the SCO member states and their antirecessionary programs. Out of USD 10 billion allocated by China in the line of the SCO we are planning to attract USD 3 billion to Kazakhstan. In the course of the meeting with China’s Minister of Commerce Chen Deming we discussed the issues of granting a loan for the project on construction of Zhetigen-Korgas railway. The Government of Kazakhstan pays much attention to this projects as well as development of Khorgos International Border Cooperation Center in whole. In this context on September 15 Prime Minister of Kazakhstan Karim Massimov paid a working visit to the Kazakh-Chinese border and surveyed the progress of construction of the Center.

According to the plans of the State Council, in coming five years China will invest about 100 billion Yuan in the economies of the western provinces, including Xinjiang. Thus, Kazakhstan’s governmental programs should correspond to the Xinjiang development plans.

Besides, we had several meetings with our colleagues from the Eximbank and China State Bank on the projects they realize under above-mentioned USD 10-billion line.

On the whole the work runs on schedule under constant monitoring. The first project has already been put into operation at Atyrau refinery; the construction of the complex on deep processing of oil has also been launched. The cost of the project that is realized by the Chinese company ‘SINOPEC Engineering ‘ is more than USD 1 bln.

The construction of the Integrated Gas Chemical Complex in Atyrau should be mentioned as well. Its cost is USD 1 bln. The contractor is also ‘SINOPEC Engineering ‘. One of the main projects is the construction of the metallurgic plant in Aktobe, the cost of which is estimated at USD 360 mln.

Besides, together with Kazakhmys Company we agreed that USD 2.7 bln out of USD 3 bln allocated by the China State Bank will be used for construction of the Bozshakol mining and processing integrated works in Pavlodar region.

It should be mentioned that the level of cooperation between Kazakh and Chinese development institutes was at the level of USD 100 mln in 2007-2008. But now we realize the projects totaling USD 13 bln. The Chinese colleagues noted that such support should be provided not only during crises but it should become the base of our cooperation. In whole according to our estimates investments of China to the economy of Kazakhstan in 2009-2010 made USD 15-16 bln.

Mr. Kelimbetov, you opened the representation of the National Welfare Fund ‘SamrukKazyna’ in Beijing. What do you expect from it? What do your Chinese colleagues think about the anti-crisis program and State Forced Industrial-Innovative Development Program of Kazakhstan?

Sumruk-Kazyna Fund, as an important player in the economy of Kazakhstan, opened its representation in Beijing. We plan to cooperate with those Chinese companies that we have already established firm relations with. Besides, we are going to invite those companies that are interested in investing and cooperating with the Kazakh side. Representatives of the Chinese state bodies, state companies and academic communities attended the opening ceremony; this is a good sign.

It should be mentioned that the policy of Nursultan Nazarbayev and his anti-crisis program, the State Forced Industrial-Innovative Development Program is highly appraised by the Government of China and high political echelons of China. Top officials of China expressed their respect towards the anti-crisis program of the Head of our State. In particular they said that among the Central Asian countries the anti-recessionary program of Kazakhstan deserved special respect. Our country is overcoming the crisis more successfully than the rest of the countries in Central Asian region. The Chinese colleagues emphasized it. China considers Kazakhstan as a reliable partner because we fulfill all the commitments. Firstly, we provided Chinese investors access to our energy resources, particularly oil and gas. Secondly, China has no doubts that Kazakhstan will return the loans. Thirdly, we have now access to Chinese technologies, know-how, investments. Kazakhstan and China are now successfully overcoming the crisis and moving towards those goals that were put before within anti-crisis development programs.