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Astana – Kazakhstan and the United Arab Emirates (UAE) have agreed to implement investment projects worth US$900 million in different economic sectors as part of Kazakhstan’s Prime Minister Ali Khan Smailov’s visit to the UAE, according to the Prime Minister’s Press Service .
Prime Minister Ali Khan Smailov of Kazakhstan meets with Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs of the UAE.Image source: Prime Minister’s Press Office
The Prime Minister of Kazakhstan met with UAE President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi on September 21, as the two countries celebrated the 30th anniversary of diplomatic relations.
“We intend to strengthen cooperation in all economic fields of mutual interest. We also thank the UAE for its continued and firm support for Kazakhstan’s international initiatives,” the Prime Minister of Kazakhstan said.
Sheikh Mohamed bin Zayed Al Nahyan emphasized the increase in the number of cooperation projects between the two countries and the friendly relations between the two countries, expressing full support for bilateral cooperation with Kazakhstan in various fields.
During the visit, the Kazakh delegation presented 40 investment projects worth $6.5 billion to Emirati companies in the fields of mining, agriculture, oil and gas, and construction.
Bilateral meeting between Kazakh Prime Minister Ali Khan Smailov and the UAE business community.Image source: Prime Minister’s Press Office
“The Kazakh government continues to improve the investment climate. Despite the global crisis, foreign direct investment (FDI) inflows to our country in the first quarter of this year increased by 54% to $6.8 billion. .
Smailov met Mubadala CEO Musabbeh Al Kaabi, who has shown interest in investing in green energy, finance, mining, and oil and gas. Mubadala is a state-owned investment and development company with assets of US$285 billion, ranking 13th in the world’s sovereign wealth fund rankings.
The pharmaceutical industry, food production, logistics and renewable energy have attracted the attention of ADQ Investment Holding, one of the largest holding companies in the region, with direct and indirect investments in more than 90 businesses.
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