"KAZAKH INVEST" is Establishing Investment Cooperation with the Western Regions of China

"KAZAKH INVEST" is Establishing Investment Cooperation with the Western Regions of China

Representatives of "National Company "KAZAKH INVEST" JSC in China visited the administrative center of Gansu Province - the city of Lanzhou for a working visit, where they met with the Chairman of the China Council for Promotion of International Trade (CCPIT) of Gansu Province, Ma Xueli. The meeting discussed the prospects for cooperation in establishing investment cooperation between leading companies in the province and Kazakhstan. The parties noted the advantages of the geographic proximity of Gansu and Kazakhstan, which creates convenience for more active development of trade and economic cooperation.

In addition, the KAZAKH INVEST office in China visited such large enterprises of Gansu Province as "Lanzhou LS Heavy Equipment" (one of the largest manufacturers of oilfield service and petrochemical equipment in China), "Gansu Construction Investment Heavy Industry Technology" (a manufacturer of municipal special equipment), "Lanzhou Dahong Engineering Equipment" (a manufacturer of metallurgical equipment), and "Yihai Jiali Golden Dragon Fish Grain, Oil and Food" (a subsidiary of the "Wilmar Group", the largest producer of vegetable oil in China).

During the visit, the representatives of KAZAKH INVEST presented the activities of the company, measures to support foreign investors. The representatives of the national company also proposed to consider the possibility of establishing investment cooperation with Kazakhstan and expressed their readiness to provide the necessary assistance.

Together with CCPIT of Gansu Province, the representatives of KAZAKH INVEST held a seminar to discuss the prospects of investment cooperation between companies in Gansu Province and Kazakhstan. Representatives of 11 companies from Gansu Province took part in the event.

Kuanish Amantay, the representative of "KAZAKH INVEST" in China, presented information on the investment and business climate of Kazakhstan, incentives and preferences for foreign investors, priority sectors of the economy, as well as the state of investment cooperation between Kazakhstan and China to Chinese company leaders and representatives.

During the exchange of opinions, several companies expressed interest in projects related to the development of non-ferrous metal deposits, agricultural crops and meat processing, transportation, and logistics.

As a result of the event, the Representative Office reached an agreement with a number of companies in the region to continue contacts regarding their possible participation in investment projects in Kazakhstan. In turn, the leadership of the CCPIT of Gansu Province expressed interest in visiting the cities of Astana and Almaty with a delegation of business circles of the province in the near future.

For Reference: In 2021, the GDP of Gansu Province exceeded 1 trillion yuan (about 147 billion dollars). Over the past decade (2012-2021), the average annual growth rate of Gansu's GDP was 6.9%; about 5.52 million rural residents were lifted out of poverty; a wind energy base was built, with an installed capacity of over 10 GW.

Agriculture: About 11% of Gansu's territory is arable land. There are crops of wheat (40% of the sown area), as well as millet, sorghum, corn, and barley, and technical crops such as sugar beets, tobacco, and cotton. Green tea has been traditionally grown in the mountains. Medicinal plants are collected, and there is nomadic animal husbandry (sheep, as well as cattle, yaks, camels, and horses).

In Gansu, the area of plantations for growing medicinal raw materials is 310,000 hectares. In 2019, the volume of production in this sector was 1.3 million tons, and the value of the products was 44 billion yuan. The cultivation and processing of Chinese angelica and Codonopsis pilosula are of great importance. The export of medicinal herbs and traditional Chinese medicine preparations is also important. As of 2021, the area of onion planting is about 17,000 hectares.

Gansu is one of the largest bases for growing vegetable and flower seeds in China. As of 2022, the total area of agricultural land allocated for seeds was about 4,667 hectares.

Industry: Gansu has enterprises in the petrochemical, black and nonferrous metallurgical, and oil service equipment industries.

Energy: 29 hydroelectric power stations have been built on the Yellow River, and one of the world's largest wind power complexes is located in the region. Many solar power stations have also been built. The UNIDO International Center for the Promotion and Transmission of Solar Energy is located in Lanzhou.

Foreign trade: Gansu exports agricultural products (including seeds, apples, and apple juice), plastic products, electromechanical products, and medicinal raw materials for traditional Chinese medicine. Kazakhstan is the largest foreign trading partner of Gansu Province. The province also actively trades with countries such as Mongolia, South Korea, Japan, Vietnam, Thailand, and Nepal.

In 2022, the total volume of foreign trade in Gansu reached 58.42 billion yuan (about 8.5 billion U.S. dollars), an increase of 18.8% year-on-year. Trade with countries along the Belt and Road Initiative reached 27.83 billion yuan, an increase of 23.8% from 2021, or 47.6% of the province's total. In 2022, a total of 440 freight trains with a total weight of about 232,600 tons were sent between Gansu and foreign countries and regions, with the value of the goods exceeding 290.6 million U.S. dollars. The actual amount of foreign investment used by the province reached 124.8 million U.S. dollars, an increase of 15% compared to 2021.

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