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    Kazakhstan

    Kazakhstan government undertakes relocation of 37 foreign companies

    Kazakhstan government undertakes relocation of 37 foreign companies

    At a recent briefing in Astana, Vice Minister of National Economy Bauyrzhan Kudaibergenov provided updates on the government's efforts to relocate 37 foreign companies, particularly large enterprises, to Kazakhstan. The initiative aims to attract foreign investment and bolster the country's economic growth. Kudaibergenov revealed that the relocation list encompasses approximately 400 companies from over 30 countries.

    Illustration on the topic of company rellocation.
    Source: Epthinktank

    Concrete Results and Ongoing Work

    Kudaibergenov disclosed that significant progress has already been made, with 41 companies valued at over $1.5bn having completed relocation to Kazakhstan. Notable names among these companies include InDriver and TikTok. Additionally, efforts are currently underway for the relocation of another 37 companies, although specific details regarding these companies have not been disclosed yet.

    Individualized Approach and End-of-Year Targets

    Highlighting the tailored approach taken for each company, Kudaibergenov emphasized that relocation plans are customized based on the specific requirements of the companies involved.

    "Deadlines are set individually for each company. By the end of the year we should... I can’t say that there will be exactly 37 companies. Perhaps it will be a little less, perhaps a little more, but we will complete this work by the end of the year. I want to note here that work is carried out individually for each company. That is, they have specific requests, what exactly a specific company needs. There, conditionally, some companies only ask for a land plot, others - preferences, benefits, and so on,” said Bauyrzhan Kudaibergenov.

    Capitalization and Industry Focus

    Regarding the financial impact of the relocated companies, Kudaibergenov stated that the combined capitalization of the 37 targeted companies amounts to approximately $1bn. He underscored the importance of sectors such as manufacturing, IT, digitalization, and mining, highlighting them as priority areas for incoming companies.

     

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    05.03.2024, 17:10   Comments (0)   1650
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