Kazakh-Hungarian fund to attract $100 million in agriculture projects
Kazakh-Hungarian Private Equity Fund is set to provide $100 million for agriculture projects. As it turned out, the amount of original assets has reached $40 million with $20 million allocated by each side. KazAgro chief Nurlybek Malelov noted that new funds will allow investing in Kazakhstani agricultural companies. Currently, several projects in the field of dairy and meat processing industries are being considered, with a particular attention paid to self-sufficiency and cost-effectiveness. The investment volume in agriculture amounted to 167 billion tenge last year in Kazakhstan.
Nurlybek MALELOV, CHAIRMAN OF BOARD, KAZAGRO NATIONAL HOLDING:
We are anticipating the introduction of corporate governance and creation of additional markets for our manufacturers in the professional management industry.
Andras PUSKAS, DEPUTY CEO, EXIMBANK HUNGARY:
We are strengthening the Kazakh-Hungarian relationship by creating the fund. Hungary’s companies, including exporters, investors and suppliers have good opportunities to expand their activity in the market of Kazakhstan.
Kazakh Ministry of Agriculture is continuing to attract transnational companies as investors within the implementation of the ‘100 steps’ National Plan. In the future, Kazakhstan is planning to create joint investment funds with China and the United Kingdom.