In the spirit of friendship and partnership

June 13. Kazpravda

In the spirit of friendship and partnershipNursultan Nazarbayev met with Prime Minister of the Italian Republic Matteo Renzi.

The parties discussed priority areas of the Kazakh-Italian cooperation, including trade, economic and investment spheres. The President congratulated M. Renzi on the appointment of the Prime Minister of Italy and noted dynamic development of bilateral relations, inviting Renzi to visit Kazakhstan.

Kazakhstan is interested in good relations with Italy which is a large trading and investment partner of RK, – he said, and we can give a new impetus to our cooperation.

In turn, Prime Minister of Italy thanked Nursultan Nazarbayev for the meeting and the invitation to visit Kazakhstan.

The meeting discussed the prospects for relations in such sectors as oil and gas, transport, energy and agriculture and exchanged views on topical issues of the international agenda.

After the talks the President and Prime Minister of Italy attended the signing ceremony of bilateral documents: an implementation Agreement of geological exploration project ISATAI and the project for construction of a ship repair facility between the JSC NC KazMunaiGas and the company Eni SpA; a Memorandum of Understanding between the Ministry of Industry and New Technologies of the Republic of Kazakhstan, the company IVECO S. p. A. and the LLP Allur Group.

After the ceremony, Nursultan Nazarbayev and Matteo Renzi made statements.

The Head of State noted that the relations between Kazakhstan and Italy are developing intensively in many areas. This strategic partner accounts for 13 percent of Kazakhstan’s foreign trade. The total volume of Italian investments in the domestic economy is $ 6.5 billion. Moreover, Italy is a large consumer of Kazakh oil, said the President.

Nursultan Nazarbayev noted that Kazakhstan pins big hopes on the forthcoming chairmanship of Italy in the European Union, as RK is preparing to sign an agreement with EU on extended partnership.

In turn, M. Renzi expressed gratitude for the support to Italian companies in Kazakhstan and congratulated the country on the forthcoming International exhibition EXPO 2017.

Prime Minister of Italy said that the investments of ENI Company are essential to the Kazakh economy, and expressed hope for the development of cooperation with Kazakhstan of Italian companies Fiat, Italchimenti and Finmeccanica.

* * *

Local content is among priorities

June 13. Kazpravda


Favorable climatic conditions of the Borovoye resort, where the meeting of the Council took place, was in tune with the main theme of the event related to the improvement of investment climate. And the participants of the meeting noted this excellent investment “weather” in Kazakhstan.

French company Total is among Kazakhstan’s long-term strategic foreign investors. President of its branch Total Exploration & Production Yves-Louis Darricarrere thanked President Nursultan Nazarbayev for “personal commitment that helps France and Kazakhstan mutually cooperate not only in the oil and gas sector, but also in many other industries and business areas.”

Speaking about the company’s contribution to the development of the second phase of the industrialization program in Kazakhstan, Darricarrere emphasized the need of further development of local content in investment projects.

Other participants of the meeting shared their views on investment development. Thus, talking about the contribution made by German business to accelerated industrial-innovative development of Kazakhstan’s economy, CEO of the company Deutsche Bank Frankfurt for Central and Eastern Europe Peter Tilles quoted the following figures. According to him, the total direct investments of German companies in Kazakhstan are estimated at $ 2 billion in the frames of 12 major industrial investment projects. And investment plans for the next 5 years are more than 60 new projects with participation of German companies worth $ 3.7 billion.

CEO of the company ENI Claudio Descalzi speaking about the company’s priorities in the second phase of industrialization stressed that the main objectives of investments are training of personnel, development of local infrastructure and implementation of initiatives aimed at the development of local industry.

CEO of the company General Electric Oil and Gas Lorenzo Simonelli emphasized that the state program of accelerated industrial-innovative development which helped the Government to concentrate on the core problems of the industrial sector and to create favorable conditions to attract investment in this sector is the strategic initiative of President Nursultan Nazarbayev. The company cooperates with Samruk Kazyna, NC KazMunaiGas on the projects in the field of localization of services for new oil and gas equipment, which will also be implemented in the second five-year program of industrialization. And this year the company signed its first contract to build a wind generator station in Kazakhstan.

* * *

Diversification and technologies

June 13. Kazpravda


At the meeting of Foreign Investors Council the Board’s chairman of the company TeliaSonera Johan Dennelind noted  the improvement of efficiency of industrial development and innovation infrastructure and intellectual- innovation clusters.

The founder and one of the largest shareholders of the company Eurasian Natural Resources Corporation (ENRC) Alexander Mashkevich informed that over the past 4 years the Eurasian Group invested in Kazakhstan’s economy more than $ 5 billion and 12 investment projects worth more than $ 2.5 billion is the contribution of the Eurasian Group and its team to implementation of SPAIID.

– The proportion of our investments in this program is 17%; more than 2,500 new jobs were created, said the businessman stressing also that the law on improving the investment climate, recently signed by President is very timely.

The JSC Sberbank of Russia is ready to offer a new form of cooperation in the framework of public-private partnership. Its chairman German Gref said that the bank plans to pay attention not only to large industrial projects, but also to the development of small and medium-sized businesses. Thus, recently this financial institution together with the Fund Damu launched a lending program for entrepreneurs – Start Up. An important step to promote SME development is the introduction of technologies “Credit factory” and “Credit conveyor”, which will speed up the decision making process.

Then, during the teleconference “Burabai – Kostanay” held in the final part of the event Nursultan Nazarbayev took part in the launching ceremony of the project on the production of cars Toyota.

At the end the President proposed to discuss at the next meeting of Foreign Investors Council the issues of agribusiness development in Kazakhstan and offered to hold it in Shymkent.