Japan Considers New Directions for Investment in Kazakhstan
The prospects for investment cooperation between Kazakhstan and Japan were discussed within the framework of the National Week at the virtual exhibition CAVEX II. The event, organized by the Japan Association for Trade with Russia and the Newly Independent States (ROTOBO), was attended by representatives of the Embassy of the Republic of Kazakhstan in Japan, KAZAKH INVEST, AIFC, ITC, SK-Pharmacy, Tau-Ken Samruk, Kazakh Pharmaceutical Company Medservice Plus, as well as representatives and businesses of the two countries. The goal is to develop business and stimulate trade and investment between Japan and the countries of Central Asia.
Miki Wajima, Director of the ROTOBO Research Institute for Economics, delivered a welcoming speech. The speaker highly appreciated the measures to improve the investment climate in Kazakhstan and the ongoing economic reforms, and also expressed support for expanding trade and economic cooperation between the two countries.
In turn, the Chairman of the Japan-Kazakhstan Committee for Economic Cooperation Ichiro Takahara noted that Japanese business is still interested in the implementation of investment projects in Kazakhstan.
"An important component of the further development of the strategic partnership between Kazakhstan and Japan is the active promotion of cooperation in new sectors of the economy. The international situation is complex and changeable, but the business circles of Japan invariably, with great reliability and interest follow the possibilities of cooperation with Kazakhstan," said Ichiro Takahara.
During his speech, Zhandos Temirgali, Deputy Chairman of the Board of KAZAKH INVEST, said that Japan is one of the key trade and economic partners of Kazakhstan in Asia and is in the top 10 countries - investors in Kazakhstan. In addition, the speaker familiarized the participants with the investment potential of Kazakhstan, the measures of state support for investors, and the activities of KAZAKH INVEST.
"As part of the new economic course of the Head of State, a new concept of Kazakhstan's investment policy is being developed. It is planned to carry out some serious structural reforms of the economy, which are associated with the expectations of international investors. Of particular importance is the social responsibility of businesses to create quality jobs and improve the skills of local specialists. Kazakhstan is interested in the experience of Japanese partners in the development of manufacturing and new sectors of the economy, in particular, we are talking about "smart" engineering, processing of solid minerals, pharmaceuticals, information technology, and "green" energy. In turn, KAZAKH INVEST is ready to provide comprehensive support to Japanese companies interested in investing in Kazakhstan," said Zhandos Temirgali.
Within the framework of the two-day event, the activities of the Astana International Financial Center, the opportunities for foreign investors to participate in the privatization of state assets, the implementation of IT projects based on the Astana Hub, the development of pharmaceuticals and healthcare together with SK-Pharmacy and Kazakh manufacturers of medical equipment were also presented, as well as prospects for cooperation in the metallurgical industry with the assistance of Tau-Ken Samruk.
At the end of the investment event, Japanese companies confirmed their interest in deepening cooperation and exploring the possibilities of implementing new investment projects in Kazakhstan.
It should be noted that the gross inflow of direct investments into the economy of Kazakhstan from Japan in the period from 2010 to the 1- st half of 2021 amounted to about $4.8 billion. According to the results of the 1-st half of 2021, the gross inflow of investments from Japan amounted to $110.4 million.
