Kazakhstan Asia pacific trade and investment chamber starts work
The first regional trade and investment chamber KAPTIC, which was opened in Singapore is aimed to attract the leading companies of the Asia-Pacific region in Kazakhstan. The opening ceremony was attended by representatives of major domestic and foreign business organizations, including Philip Yeo. He is known as Singapore’s “architect of the economic miracle”. Over the years, he was practically at the helm of Singapore’s economic and technological development, and was responsible for intergovernmental communication. He held the position of an adviser to the first Prime Minister Lee Kuan Yew.
PHILIP YEO, KAPTIC’S HONORARY MEMBER:
Well, I think KAPTIC was established timely, to bring us to ASEAN, Asian market to Kazakhstan, may be even to Central Asian market. So I think, it benefits both, because there is a great potential. We have 600 million people in this ASEAN area. So there is market potential. So this link is important. And it is a good time to have this.
The investment chamber is a nongovernmental and non-profit organization. It aims to become a platform through which regional companies will be able to enter new markets and expand cooperation with foreign companies. KAPTIC will be headquartered in Singapore. The Chamber will promote the domestic production in the Asia-Pacific countries and attract new investors.
USEN SULEIMEN, KAZAKH AMBASSADOR TO SINGAPORE:
The prerequisite is the policy of Kazakh President, Nurly Zhol, 100 steps on 5 institutional reforms. The main purpose is to attract foreign investments in order to create corresponding infrastructure in Kazakhstan.
KAPTIC is governed by the Board of Founders. Each of them has the right to make proposals for the development of the Chamber. Singapore, Australia, Vietnam and Kazakhstan have already become the organization’s partners and members. It is planned to attract organizations and trade chambers of Japan, South Korea, China and India.
OLZHAS ZHIENKULOV, KAPTIC PRESIDENT:
First of all, we plan to hold conferences and business meetings, through which, we plan to unite our members, their interests. Based on the conference we plan to create a forum for discussion of opportunities created in both jurisdictions in Kazakhstan or in the Asia Pacific region to build the infrastructure that will allow investors and business owners to operate more comfortably and to expand in our region.
NURLAN TOIMBEK, PRINCIPAL CONSULTANT TO GOVERNOR, ASTANA INTERNATIONAL FINANCIAL CENTRE:
Such instrument as KAPTIC will further contribute to networking and involvement of participants, the players in Kazakhstan, particularly in the Astana International Financial Center. In the future, strengthening of cooperation with financial institutions of Singapore, which to date has shown interest.
Information about Kazakhstan’s business and investment climate as well as the Chamber’s services is already available at Investkazakhstan.com.sg. special website. The information about the project participants will be also available at the website.
ANURAG THUKRAL, CHAIRMAN, STARIN INVESTMENTS AND DEVELOPMENTS:
I think it is an excellent initiative. And collaboration between the businesses, and collaboration between the individuals, and collaboration between the nations across the borders is very important.
The project initiators believe that the Chamber has every chance to become a global organization. Currently, similar chambers of France, India and Malaysia are successfully operating in Singapore. Next year, Kazakh-Singapore Business Forum will be held, where the first results of Chamber’s work will be known. But, the Chamber already now brings fruits. The first KAPTIC members signed the agreement on cooperation.