Singaporean investors are ready
to allocate over $680 million to 15 projects in Kazakhstan, including the
reconstruction of the port of Aktau and the construction of a cement plant in
the Zhambyl region, among others. The Senate, an Upper House of the Kazakh
Parliament, ratified a corresponding agreement with Singapore on trade in
services and investments. The document aims to increase the volume of capital
investment in Kazakhstan’s economy and expand the potential for trade relations
with Singapore. Last year, bilateral trade approached $2 billion, with
Kazakhstan’s exports accounting for 94 percent. Domestic supplies accounted for
40 percent of the services trade with Singapore. It is worth noting that by the
end of 2023, 143 active companies with Singaporean capital were registered in
Kazakhstan.
«The ratification of the agreement will enable
the expansion of domestic service exports to the Singaporean market and foster the
growth of investment volumes in Kazakhstan. We believe that this document will
give a significant boost to the exchange of experience and enhance trade,
economic, and investment cooperation
between our countries,» Senate member Sultanbek Makezhanov said.
