London investment forum highlights Kazakhstan's growing appeal to international investors

New Economic Diplomacy and Pathways for Investing in Kazakhstan was the fifth Kazakhstan Investment Forum held by the Exchange and was attended by investors and companies active or preparing to move into Kazakhstan.

Magzhan Ilyassov, ambassador of Kazakhstan to the UK, underlined the increasing attractions of the country which he said was at an exciting crossroads with a new political era in parliamentary and government stability.

“We are an oasis of stability surrounded by big powers,” he said, highlighting that Kazakhstan accounts for 70 per cent of Foreign Direct Investments into Central Asia, comprising 5.1 per cent of the country’s GDP.

Foreign trade grew by 41 per cent to US$51bn in the first five months of 2022, according to the Kazakh Bureau of National Statistics, while trade with the UK at US$1.8bn was up 66 per cent in the first seven months of this year.

The forum heard that the economic and political reforms of President Kassym-Jomart Tokayev were creating a strong platform for future growth and opportunities for investors.

Almassadam Satkaliyev, CEO of Samruk-Kazyna Sovereign Wealth Fund, updated on the country’s privatisation programme with KazMunayGas listing this year and Air Astana in which BAE Systems has a 49 per cent stake scheduled for IPO take-off as early as next year.

Samruk-Kazyna will sell a stake of up to 5 per cent in KazMunayGas (KMG) the country’s national oil and gas company to domestic and international investors on two Kazakhstan stock exchanges. However, Mr Satkaliyev said a secondary listing on an international exchange was planned.

He added Air Astana would follow in 2023 or 2024, subject to conditions in the wider aviation market. KEGOC, the state electricity provider, was scheduled for 2023-2024, power generator Samruk-Energy in 2023-2024 and QazaqGaz, the country’s largest gas supply company, in 2024-2025.

The conference also heard about the sustainable investment opportunities in Kazakhstan with Giles Redpath, CEO of UK-based Hive Energy, highlighting the wind and solar energy resources to help power a green hydrogen industry.

Kanat Sharlapaev, CEO of Baiterek Holding, an institution set up to support the sustainable economic development, spoke about Kazakhstan’s vital contribution to the endangered global food security as the country, boasting 23 million hectares of arable farming land becomes the 6th largest wheat exporter globally.

By Mark Adair – Correspondent, Bdaily

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