American and Kazakhstani companies examining fresh avenues for financial ventures
In a significant development, Kazakhstan was recently highlighted as a hub partner along the Middle Corridor by Khurshid Choksi, a prominent figure in the US trade mission. This meeting, aimed at creating cooperation chains involving US businesses, marked a continued effort to strengthen economic ties between the two nations.
The discussions during the meeting, held between Gabidulla Ospankulov, Chairman of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan, and the US trade mission led by Choksi, focused on priority sectors for potential joint projects. These sectors include energy, processing, critical minerals, the agro-industrial complex, digital economy, and logistics.
Ospankulov expressed a strong interest in expanding cooperation with American investors in these sectors. Notably, several US companies presented plans for localization and expansion in Kazakhstan. These include John Deere's agricultural machinery localization in Kostanai, PepsiCo's snack production project, the manufacturing and assembly of high-tech products, and the development of payment infrastructure.
The US delegation, comprising 25 companies, included heavyweights such as Apple, Boeing, Chevron, ExxonMobil, Shell, Bechtel, Honeywell, Mastercard, The Coca-Cola Company, PepsiCo, Meta, Ericsson, John Deere (Eurasia Group), Plug and Play Tech Center, and Mayer Brown.
This meeting provides a solid foundation for launching new joint projects in priority sectors. Officials from both sides expressed readiness to expand investment cooperation and develop new joint projects to strengthen the strategic nature of bilateral relations. Accumulated US investments in Kazakhstan exceed $60 billion, a testament to the mutual benefits of this partnership.
Choksi emphasized the strong interest of US businesses in Kazakhstan, pointing to opportunities in infrastructure, industrialization, innovation, and sustainable technologies. Kazakhstan offers a predictable regulatory environment, 'one-stop shop' tools, and contractual mechanisms for projects throughout their entire life cycle, making it an attractive destination for US investors.
The meeting, reported by the Kazakh Foreign Ministry's press service, is a positive step towards further enhancing the economic relationship between Kazakhstan and the United States. However, it's worth noting that no US-American companies were explicitly mentioned in recent weeks as presenting plans for localization and expansion in Kazakhstan according to the search results provided. The information mainly covers Chinese investments in mining and expansion activities of US companies in other countries, such as Onsemi in the Czech Republic. Nonetheless, the potential for growth in the US-Kazakhstan economic relationship remains promising.
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