Kassym-Jomart Tokayev and President of the Republic of Korea Moon Jae-in inspected the exhibition of investment projects implemented by leading Korean companies.
The Head of State appreciated the Korean International Trade Association’s active participation in organizing the business forum and expressed confidence that this meeting would give new impetus to deepening of trade and economic cooperation between the two nations.
The President of Kazakhstan noted that the Republic of Korea is one of the largest trading partners of our country in the Asian region, and stressed that since 1996, South Korean business has invested about $ 7 billion in the Kazakh economy.
- Our countries are implementing joint projects in various economic sectors: infrastructure construction, agriculture, engineering, finance, health care and other industries. It is gratifying that large Korean business is showing great interest in cooperation. This year is marked with construction of Big Almaty Ring Road to start, with participation of Korean companies. This project could be another joint “success story,” Kassym-Jomart Tokayev said.
The Head of State elaborated on the measures taken in Kazakhstan to attract foreign capital and create a favorable investment climate.
- At present Kazakhstan is creating favorable conditions for actualizing business initiatives and investment. Our country has established itself in the international arena as one of the dynamically developing states. In the World Bank's ranking Doing Business 2019, Kazakhstan has ranked 28th. The Council of Foreign Investors and Astana International Financial Centre are successfully operating. Over the years of Independence, over $ 320 billion in foreign direct investment has been attracted to Kazakhstan, Kassym-Jomart Tokayev said.
The President of Kazakhstan expressed confidence that the agreements reached during the state visit of the Head of South Korea and the business forum would serve as a basis for further strengthening trade, economic, investment and cultural ties between our countries.
More than 500 representatives of business circles of both countries have taken part in the Kazakh-South Korean business forum. It resulted in inking, about 30 documents in the field of mechanical engineering, medicine, infrastructure and the food industry for a total of $ 3.2 billion. In particular, there are agreements concerning the construction of residential complexes in Shymkent and Turkestan region, creation of a multi-profile check-up centre, production of cars, elevators, confectionery, television sets, medical implants, opening of medical institutions, etc.