Investment Opportunities of Kazakhstan Presented to Norwegian Business
A roundtable dedicated to investment opportunities in Kazakhstan was held in Oslo. The event was organized by the «East Office of Norway» (Norsk Østhandelskammer), the Embassy of the Republic of Kazakhstan in the Kingdom of Norway, and "NC" KAZAKH INVEST" JSC.
During his speech, the Ambassador of Kazakhstan to Norway Adil Tursunov spoke about the political and economic reforms initiated by the Head of State Kassym-Jomart Tokayev, the government's measures to improve the business and investment climate, as well as the work on the relocation of foreign companies to Kazakhstan. He stressed the desire of the Embassy to intensify trade, economic and investment ties between Kazakhstan and Norway.
The Foreign Representative of KAZAKH INVEST Saken Olzhabayev spoke in detail about the investment climate in Kazakhstan, measures of state support for foreign investors, favorable conditions created by the government for companies ready to implement investment projects in the processing sectors of the economy. The advantages of the Astana International Financial Center were also presented.
Hans-Olav Rekdal, Managing Director of the Eastern Office of Norway noted that this is the first meeting of a wide format dedicated to Kazakhstan.
"Today's event is an important beginning of our further fruitful cooperation. We are very impressed by the efforts of the Kazakh state to strengthen cooperation with Norway, Europe and all countries associated with the Silk Road. The «East Office of Norway» looks forward to long-term cooperation, especially in the field of energy, agriculture, maritime navigation, aquaculture and mining," stressed H.Rekdal.
Of particular interest among Norwegian entrepreneurs was the potential for cooperation in the fish farming industry, the field of renewable energy sources, and the development of transport and logistics infrastructure. As part of the participation in the event, negotiations were held with such companies as Tschudi Shipping Company AS, Aker Solutions, EPAK Nordic, Norbit, Aqua Iceberg, Offshore Communication, Leinonen, and Shelby Dark Horse AS.
In 2022, the trade turnover between Kazakhstan and Norway increased by 38% to $117.5 million. The main items of Kazakhstan's exports to Norway are wheat, aluminum, ferroalloys, metal products, engines, etc. In turn, Norway supplies Kazakhstan with fish, titanium ores and concentrates, food, medical devices, and nitrogen fertilizers.
At the end of the roundtable, the parties agreed to jointly organize a visit of the Norwegian business delegation to Kazakhstan for a substantive consideration of the partnership prospects.
