Issues of Cooperation with Foreign Investors Discussed at Meeting in Kazakhstan’s Ministry of Foreign Affairs

Nur-Sultan, 25 January 2022 – Deputy Minister of Foreign Affairs of Kazakhstan Almas Aidarov met with Managing Director of «Exxon Mobil Kazakhstan Inc.» Dinesh J. Sivasamboo.

The participants of the meeting discussed the current state and prospects of the company's investment activity in Kazakhstan.

Mr. Aidarov informed the interlocutor that Kazakhstan remains committed to all the obligations by the state to foreign investors, and will continue to improve business climate. “In accordance with the instruction of the President of Kazakhstan Kassym-Jomart Tokayev, the state is taking the necessary measures to protect the foreign investments and business of foreign companies in Kazakhstan,” the Deputy Minister said.

At the same time, he stressed the government’s interest in further expanding cooperation with the company and the desire to maintain long-term mutually beneficial relations.

In turn, Mr. Sivasamboo noted that recent events have not affected the company's current and future investment plans in Kazakhstan, and voiced his support for the ongoing policy to improve the investment climate.

In general, since the beginning of the year, the Ministry of Foreign Affairs, together with diplomatic missions of the Republic of Kazakhstan and Kazakh Invest JSC, has been conducting meetings and negotiations with more than 700 foreign companies, including existing and potential investors. In addition, it is planned to hold a series of meetings with the foreign investors’ community, including the Foreign Investors Council, Kazakhstan – EU, the Eastern Committee of the German Economy dialogue platforms and etc.

By the instruction of the President, the Ministry of Foreign Affairs, together with the Ministry of National Economy, is elaborating a new Investment Policy Concept, taking into account the requirements of ESG, global energy and technological transition.

It is worth noting that with an indicator of accumulated foreign direct investment of about 380 billion US dollars, Kazakhstan continues to be the largest recipient of FDI in Central Asia.

The successful attraction of foreign investors and their activities in Kazakhstan are designed to contribute to the arrival of additional capital, new technologies, job creation and income increase in the country.

 

The international oil and gas company «Exxon Mobil» has invested more than 26 billion US dollars in the economy of Kazakhstan since 1993. The company provides permanent jobs for 15 thousand people and actively supports social activities by implementing projects in the field of healthcare, education and science.