Malaysia plans to invest in the Mangystau region US$1 billion
Malaysia plans to invest in the Mangystau region US$1 billion. The corresponding memorandum was signed during the business forum which was held in Astana as part of the EXPO 2017. First of all, it is planned to attract investments in the oil and gas industry, infrastructure projects, construction, energy, water supply and tourism. According to the parties, the memorandum will open new opportunities for cooperation between the businessmen of the two countries. The region will take a role of a single center for disclosing its investment potential. Moreover, the parties don’t exclude the use of the Malaysian experience in green technologies both in Mangystau and in other regions of Kazakhstan.
DATUK HAJI AHMAD BIN HAJI MASLAN, DEPUTY MINISTER OF TRADE OF MALAYSIA:
- The other agency which is very important for us in trade is Malaysian Investment Development Authority Miner. Currently, Malaysia is host to 8,000 companies.They are coming from 40 different countries and some of them definitely, Almaty national companies and agencies. I hope Malaysia is important investment destination for Kazakh investors Currently, we have 8 big companies investing in Kazakhstan. We appreciate the effort of companies that can invest in Malaysia from Kazakhstan.
Today, Kazakhstan is the fourth largest trading partner of Malaysia among the CIS countries. The parties highlight a stable growth in mutual trade turnover. For instance, last year the trade turnover grew by 36% compared to the previous period.