Archivi del mese: giugno 2022

Kazakhstan – Italy: Expansion of Investment Partnership

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In Rome, with the participation of the Deputy Prime Minister – Minister of Foreign Affairs of the Republic of Kazakhstan Mukhtar Tileuberdi held a roundtable with the participation of grands of the Italian economy.

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Within the framework of the event organized by the Ministry of Foreign Affairs of the Republic of Kazakhstan, the Embassy of the Republic of Kazakhstan in the Italian Republic and KAZAKH INVEST with the support of the Italian Trade Agency, issues of expanding investment cooperation in such sectors as agribusiness, mechanical engineering, petrochemistry, renewable energy, light industry, transport, logistics and other.

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Opening the event, Deputy Minister of Foreign Affairs and International Cooperation of the Italian Republic Manlio Di Stefano highly appreciated the dynamics of economic cooperation between Italy and Kazakhstan, noting the significant potential for expanding investment partnership in the manufacturing industry.

In his welcoming speech, Mukhtar Tileuberdi emphasized that Italy had become the third largest trading partner of Kazakhstan, accounting for almost 9% of total trade. Today, more than 280 enterprises with Italian capital are successfully operating in the country, having invested in the economy of Kazakhstan more than $9 billion.

“Kazakhstan is in the TOP-5 countries of the world with the potential for the development of agriculture, and in this regard, our country can offer the necessary resource base, access to markets and wide measures of state support in the creation and launch of mutually beneficial projects in the field of agricultural production,” – emphasized Mukhtar Tileuberdi.

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In addition, renewable energy is another promising niche for Italian investment. The quality of wind, sun and large areas can make Kazakhstan a leader in this sector. Kazakhstan can also play an important role in the production of «green» hydrogen.

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Within the framework of the round table, Deputy Chairman of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan Yerlan Zeyneshev made a presentation of investment opportunities of Kazakhstan and measures of state support for investors. Zhandos Temirgali, Deputy Chairman of the Management Board of “NC “KAZAKH INVEST” JSC noted that at present more and more international companies choose Kazakhstan as a site for localization of their industrial enterprises.

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From the Italian side, the roundtable was attended by the Director of International Relations of Confindustria Rafael Langella, the Director of Public Relations of SACE Cristiana Portale and the President of the Italian-Kazakhstan Chamber of Commerce Paolo Ghirelli.

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In addition, during the event there were speeches of heads of such Italian companies as “Bonatti” (oil and gas industry), “Cimolai” (metal construction), “Eni” (oil and gas industry and renewable energy), “Neos” (air transportation), “Petrol Valves Group” (valves production), “Renco” (construction), as well as “Savi Italo” and “Tre-Bio” (agribusiness).

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The roundtable concluded with a session of bilateral meetings between Mukhtar Tileuberdi and representatives of Italian companies. On the implementation of new projects, meetings were held with the heads of the companies “Same Deutz-Fahr” (production of agricultural machinery) Aldo Karozza, “Ansaldo Energie S.p.A” (energy) Stefano Santinelli, “Coldiretti” (confederation of agro producers) Luigi Pio Scorilla “Maire Tecnimont” (petrochemistry, agrochemistry) Alessandro Bernini.

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Italy is one of the largest investors in Kazakhstan’s economy. According to the National Bank of Kazakhstan in 2021, the volume of foreign direct investment from Italy amounted to $122.8 million. The volume of mutual trade between our countries for 2021 amounted to $9.6 billion (exports – $8.8 billion and imports – $0.8 billion).

Since June 2022, a direct flight service on the route Almaty – Milan (with a frequency of 2 times a week) will contribute to the further development of trade and economic relations between two countries.

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President of the Italien-Kazakhstan Chamber of Commerce Mr. Paolo Ghirelli

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General Secretary of the Italien- Kazakhstan Chamber of Commerce Mrs.Goulsim Joumagoulova