Samruk-Kazyna, the sovereign wealth fund of Kazakhstan, has signed memorandums of understand and agreements for five projects totaling $4 billion at the thrid meeting of the Kazakhstan-China Business Council (KCBC).

 

The agreements reached at the KCBC demonstrate the deepening relationship between Kazakh and Chinese business, the two nations at the heart of the New Silk Road.

 

Attended by more than 350 representatives from governments and business of both countries, the event included key note remarks from Kazakhstan’s Prime Minister Karim Massimov, Samruk-Kazyna’s chief executive officer Umirzak Shukeyev.

 

The deals include an agreement between KazMunayGas and Sinopec in oil exploration and production, petrochemicals, engineering and renewable energy; agreement between Kazakhstan’s national atomic company, Kazatomprom, and China General Nuclear Power for design and construction of a plant for the production of fuel assemblies in Kazakhstan and the joint development of uranium deposits in Kazakhstan; and an agreement between Kazakhstelecom and China Telecom to roll out fibre optic communications lines rural Kazakhstan.

 

“We are here to showcase the partnership and investment opportunities open to Chinese firms as our countries seek to develop the New Silk Road. Successful partnership between our two nations will drive growth, development and stability for the future,” said Dr Shukeyev.

 

“This council is not only a platform for public and private partnerships, but a forum for the exchange of experiences and ideas that can grow our economies,” he said.

 

The panel sessions at the meeting detailed investment opportunities in Kazakhstan, ongoing public asset privatization efforts in the country, Samruk-Kazyna’s Transformation Program, and infrastructure, innovation and logistics. 

 

There was also a session dedicated to the Green Economy and Sustainable Development, led by Expo2017 which will be hosted in Astana. - TradeArabia News Service