The President met with Chairman of the Board of SOVICO Group Nguyen Thanh Hung

The parties discussed the prospects of SOVICO Group's presence in various sectors of the Kazakh economy as a potential investor.

The Head of State stressed that the SOVICO Group's intention to acquire Qazaq Air indicates the ambitious plans of the Vietnamese conglomerate for the development of civil aviation in our region.

Nguyen Thanh Dung announced the company's interest in taking over a number of airports, as well as investing in logistics warehouses in Kazakhstan. Vietjet Air, a member of the SOVICO Group, is gradually increasing cargo and passenger transportation through the territory of our country.

Kassym-Jomart Tokayev was also presented with a trilateral partnership option with the participation of Vietnamese and Singaporean investors aimed at promoting joint projects in various industries, including aviation, mining, renewable energy, smart cities and asset management.

Given the company's vast experience in running a diversified business, the President expressed confidence in further expanding mutually beneficial cooperation.

During the meeting, it was announced the signing of a binding agreement on principles between Samruk-Kazyna and Aviation Holdings Company (part of the SOVICO Group) regarding the terms of the acquisition of Qazaq Air. According to the agreements, the investor plans to deliver at least 20 Boeing 737-Max8 and Airbus A320/321 aircraft models within 5 years. The signing of the purchase and sale agreement and the closing of the transaction is expected in the near future.

In addition, on the sidelines of the Kazakh-Singapore Business Forum, a Memorandum of Understanding on strategic partnership was signed between the Ministry of Transport of the Republic of Kazakhstan and Sovico Group.