Kazakhstan and Oman Intend to Expand Investment Relations

Kazakhstan and Oman Intend to Expand Investment Relations

In Muscat, representatives of "NC "KAZAKH INVEST" JSC and the Embassy of the Republic of Kazakhstan in the Sultanate of Oman held a series of talks with Omani investment companies. 

During the visit to the Sultanate of Oman, the foreign representative of national company KAZAKH INVEST in the Arab states of the Persian Gulf, Kurmangali Amankosov, met with the head of the company "Investors Bridge" (Association of Investors of Oman) Ahmed Al Harti and discussed issues of deepening bilateral cooperation and intensifying work to promote investment potential. It was suggested to regularly hold events in online/offline formats with interested business. Also presented were measures of government support for foreign investors in Kazakhstan.

During the visit, a series of meetings were also held with the management of companies such as "Suhail Bahwan Group", "MB Holding Barwani", "Zubair Corporation", "Atyab International Services", "Afkar Enterprises and Investment" and projects in the fields of agriculture, mining, healthcare, and education were discussed.

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For example, the CEO of "Atyab International Services" (food safety) Mohib Ahmed Khan stated that at present, they are jointly creating a Center for food product certification in Kazakhstan with the Kazakh Institute of Standardization and Metrology and the Kazakh Agricultural National University. The center will provide services for laboratory testing, auditing, and certification of food products, including organic and halal products for export.

During a meeting with the head of the company "Afkar Enterprises and Investment" (a multi-profile holding) Mahfood Ali Al Harti, the investment potential of the Republic of Kazakhstan was presented, as well as information about measures of government support for foreign investors. In turn, Mahfood Ali Al Harti informed about the readiness of the company to consider projects in the field of medicine and education.

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Also, during a meeting with a representative of the company "Suhail Bahwan Group" (GMC), issues of implementing investment projects in the GMC sphere were discussed. The company representative noted that they are interested in studying investment opportunities that exist in Kazakhstan, in terms of gold, copper and other raw material extraction.

As a result of the meetings, the parties agreed on further close cooperation in the implementation of investment projects.

For reference:
Trade turnover between Kazakhstan and Oman: There is a trend of increasing business activity between the two countries.

In 2019, it was $472.6 thousand (export - $445.0 thousand, import - $27.7 thousand).

In 2020, it was $273.5 thousand (export - $267.4 thousand, import - $6.1 thousand).
In 2021, trade turnover reached $2.8 million (export - $2.5 million, import - $370 thousand).

From January to August 2022, trade turnover was $5.6 million (export - $420.3 thousand, import - $5.2 million).

Direct investments: According to the National Bank of Kazakhstan, from 2005 to 2021, the total inflow of direct investments from Oman to Kazakhstan was $253.4 million. In terms of inflow of direct investments, Oman is second among the GCC countries after the UAE.

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