Belgium Sees Investment Potential in Kazakhstan

Belgium Sees Investment Potential in Kazakhstan

Belgian investors are planning to visit Kazakhstan in June this year as the two countries agreed to enhance economic cooperation at a meeting in Brussels recently.

Kazakh Investment Company manager, Ainur Tumysheva said Kazakhstan invites Belgium to cooperate on establishing joint enterprises to tap the country’s large transportation and logistics capacities and access to the Eurasian European market.

“We are currently sharing the information about Kazakhstan’s investment climate and opportunities in order to attract Belgian investment companies. We provide details about investors’ preferences as well as legislation, business conditions and existing projects to our Belgian colleagues,” she said.

Tumysheva added that based on statistics provided by the National Bank of Kazakhstan, the amount of Belgian investments into the country is growing by 20% every year.

Over the past 10 years, Belgium has invested more than US$7 billion in Kazakhstan with over 70 Belgian companies operating in various sectors in the country.  The trade value between the two countries has increased by 41% in 2018, totaling US$374 million.

Belgian Investment Agency Director General, Chantal De Bleu said there are many niche companies in Kazakhstan which Belgium could invest in.

She said the opening of the Eurasian market to Kazakhstan will boost the import-export activities as the certification for the products will be standardized.

“Previously, we had to certify the products in different countries. Now we will have a single certification,” de Bleu added.