Singapore business
people are ready to invest around $680 million in 15 promising projects of
Kazakhstan, including the digitalization of the Trans-Caspian International
Transport Route, renewal of the infrastructure of the Aktau port, development
of the Altyn field, and construction of a cement plant. Kazakhstan has ratified
an agreement with the city-state on trade in services and investments. The
document has been submitted for consideration to the Senate, an Upper House of
the Kazakh Parliament. According to the Ministry of Trade and Integration, last
year the gross inflow of Singaporean investments into Kazakhstan amounted to
$457 million. Over the past decade, direct investments from Singapore into the
country reached $1.7 billion. Notably, the volume of mutual trade last year
slightly exceeded this amount, with Kazakhstan’s exports accounting for 94
percent. Regarding trade in services, Kazakhstan’s share in 2023 amounted to 37
percent.
«Singapore is
Kazakhstan’s partner with invaluable experience in trade in services and
innovation. Reaching an agreement with this country marks a success, and we
believe that this document will give a significant boost in the exchange of
expertise and foster trade, economic, and investment cooperation between our
states,» Kazakh Minister of Trade and Integration Arman Shakkaliyev said.
