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Kazakhstan and Monaco discuss new horizons of economic cooperation

Kazakhstan and Monaco discuss new horizons of economic cooperation

The investment webinar "Kazakhstan-Monaco", which took place on November 16, 2020, brought together about a hundred participants from the business circles of the Principality, government agencies and development institutions of the two states.

The event was initiated by the Ambassador of the Republic of Kazakhstan Zhan Galiyev and the Ambassador of the Principality of Monaco Evelin Zhenta, who addressed the audience with a welcoming speech, stressing that since the establishment of diplomatic relations in 2009, a solid basis has been formed for further strengthening and expanding cooperation in political, trade and economic, scientific, technical and cultural and humanitarian spheres.

The Kazakh diplomat paid special attention to the new opportunities opening up for mutually beneficial partnership between business representatives of the two countries.

Director of the Department for Attracting Investments and Marketing of KAZAKH INVEST Zhandos Temirgali presented the investment opportunities of the Republic of Kazakhstan and spoke about the measures of state support for business. «We are ready to offer potential investors from Monaco specific projects in various sectors with our full support. To date, there are already more than 100 proposals for investment projects in sectors such as agribusiness, mining and metallurgy, petrochemicals, mechanical engineering and tourism. The system of state support for investors is multi-level and includes various industry benefits, and the investment agreement provides for exemption from basic taxes for investment projects,» said Zh. Temirgali.

The Monaco became interested in the speeches of the Chairman of the Management Board of the «Astana International Financial Center» Yernur Rysmagambetov, the Chairman of the Board of the «Center for Green Technologies and Investment Projects» Zhanna Kazzhanova, the Deputy Chairman of the Board of the «Kazakh Tourism» Kairat Sadvakassov and the Managing Director of the «Samruk – Kazyna» Yerzhan Tutkushev.

In turn, Guillaume Rose, General Director of the Monaco Economic Board, as well as his deputy, Justin Hayman, and Herve Ordioni, President of the Commission for Market Promotion of the Financial Activity Association of Monaco, presented an overview of the economic situation in their country. Lionel Galfre, General Director of «Monaco Tech», spoke about the activities of the incubator / accelerator.

The speakers noted the readiness of Monaco to actively build up cooperation with Kazakhstan. Within the framework of the forum, the business community of the Principality was actively interested in the development of the agro-industrial, tourism and other sectors of the economy of Kazakhstan in order to identify potential niches for partnership.

The General Director of the Economic Council of Monaco announced the intention of the business delegation to visit Kazakhstan after the removal of sanitary restrictions and the opening of borders. Also, the business circles of the Principality proposed to consider the possibility of opening direct seasonal flights between Nur-Sultan (or Almaty) and bordering Nice to increase the tourist flow in both directions from the summer of 2021. Interest is also shown in participation in industry international exhibitions and salons held in Kazakhstan.

As the participants of the webinar noted, the main priority areas for cooperation between the two countries are renewable energy, tourism, financial technology and medicine. To date, Kazakhstan has created a «soft» infrastructure and legal framework that contributes to the development of these industries.

The organizers of the webinar were the diplomatic missions of the two countries, «Monaco Economic Board» and «KAZAKH INVEST».

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