Bakhyt Sultanov offered mutually beneficial cooperation to the Minister of Investment of the Kingdom of Saudi Arabia Khalid Al-Falih

Today, on September 26, 2021, a bilateral meeting of the Minister of Trade and Integration Bakhyt Sultanov with the Minister of Investment of the Kingdom of Saudi Arabia Khalid Al-Falih took place at the AIFC site in Nur-Sultan.

Bakhyt Sultanov and Khalid Al-Falih are co-chairs of the Kazakh-Saudi Intergovernmental Commission (IPC) on the development of relations in various industries and spheres.

In August of this year, a telephone conversation took place between the President of Kazakhstan Kassym-Jomart Tokayev and Crown Prince Mohammed bin Salman.

Then, as the Minister of Trade of the Republic of Kazakhstan said, " our leaders agreed to expand cooperation on many issues of bilateral cooperation, especially in the trade, economic and investment spheres."

In this regard, the Minister of Trade noted the role of the 5th meeting of the Intergovernmental Commission and the Kazakh-Saudi Business Forum, which have not been held for many years, and will help to activate and expand the possible range of bilateral cooperation.

As well as the Kazakh-Saudi Coordination Council, the idea of which was supported by the leadership of the two countries.

The IPC and the investment Forum will be held on September 26 and 27.

"Kazakhstan is interested in attracting large Saudi companies to projects in the field of petrochemistry, agriculture, healthcare, mining and metallurgical complex, renewable energy sources, tourism," Bakhyt Sultanov said.

During the conversation, he said that the investment policy in Kazakhstan has changed dramatically and suggested considering the prospects for mutually beneficial cooperation.

Bakhyt Sultanov asked Khalid Al-Falih to assist in attracting Saudi companies to implement investment projects in any sectors of the economy of Kazakhstan.

Thus, Kazakhstan is interested in cooperation with large Saudi companies such as "SABIC", "SALIC", "Al Marai" and "SPIMACO", which have already been offered interesting projects.

The Kazakh side, including at the level of the country's leadership, is ready to provide comprehensive support to Saudi companies.

In this regard, Bakhyt Sultanov also informed the partner side about the development of a draft Investment agreement, which provides for a number of additional benefits and preferences for Saudi investors.