The Qatari Businessmen Association (QBA) will promote Kazakhstan in the Qatari and Arab markets, according to QBA Chairman HE Sheikh Faisal bin Qassim al-Thani.
Sheikh Faisal announced this Sunday during a meeting with Deputy Prime Minister and Minister of Foreign Affairs of Kazakhstan Mukhtar Tileuberdi on the sidelines of the Doha Forum.
During the meeting, Tileuberdi invited Qatari businessmen to visit Kazakhstan and explore the country’s investment opportunities. He expressed his country’s keenness to form solid foundations for strengthening co-operation with Qatar in the economic field, citing ongoing discussions with Qatari authorities on a number of strategic sectors and projects, especially in the energy sector.
Tileuberdi said there are joint government committees and meetings at the level of economy ministers, stressing that Kazakhstan implemented structural changes since 2016 at the level of economic openness and legislation as investment promotion has become a mandate of the Ministry of Foreign Affairs.
He stressed that Kazakhstan is ready to facilitate any challenges for Qatari and foreign investors. Tileuberdi said Kazakhstan is fighting monopoly, resisting corruption, and changing laws and legislation. It has opened oil and mines fields to foreign investment, in addition to privatising a number of sectors.
Tileuberdi announced the establishment of a centre for finance and arbitration, which is subject to international laws to protect foreign investors, in addition to assigning a single entity to speed up investment procedures.
He said the government already identified projects each exceeding $50mn between the State and the Investment Committee of the Ministry of Foreign Affairs.
Sheikh Faisal said he previously visited Kazakhstan and discussed investment opportunities in the banking and mining sectors. He lauded the “great potential” of Kazakhstan as a large market that borders along with China.
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