Amid plans to increase foreign direct investments (FDI) in its agriculture industry fivefold by 2024, Kazakhstan could work together with Qatar in the area of food security, an official of Kazakh Invest said yesterday.
Kazakh Invest managing director Ulbossyn Sarybayeva said several agreements signed with major countries are expected to push Kazakhstan’s FDI in agriculture by five times from the current 39bn Kazakhstani tenge.
“We have signed investment agreements with Russia, the US, and other European countries in Kazakhstan’s agriculture, which is why in the next five years, we expect FDI in this sector to increase fivefold,” Sarybayeva told reporters on the sidelines of the forum "Kazakhstan as an Attractive Economy and Investment Destination" held in Doha.
While in Qatar, Sarybayeva also said Kazakh Invest will also meet with leading Qatari agencies, such as Hassad Food to which they plan to introduce Kazakhstan’s products in the meat, dairy, and poultry production industry.
Asked if there could be potential partnerships with Hassad Food in terms of food security, Sarybayeva said Qatar and Kazakhstan are members of the Islamic Organisation for Food Security (IOFS).
“In the framework of that organisation, we could work together to provide food security in Kazakhstan and Qatar, as well as in other countries who are members of the IOFS,” Sarybayeva told Gulf Times.
In his opening remarks, Kazakhstan ambassador Askar Shokybayev said yesterday’s forum was jointly organised with the Ministry of Commerce and Industry “with the aim to explore together the potentials and opportunities of the bilateral trade, economic and investment, as well as touristic ties.”
“The current forum is a good conclusion of the events organised by the embassy of Kazakhstan in Qatar in December 2017, and November and May 2019, within our delegations of state companies; and the private sector had fruitful meetings with the Ministry of Commerce and Industry and the Ministry of Foreign Affairs, as well as Qatar Investment Authority, Qatar Chamber, Qatari Businessmen Association, and many other state and private holdings and legal entities,” Shokybayev said.
He added, “This year, we achieved two big advantages on the way to improve the co-operation in all sectors between our two countries. First, we are glad to grant Qatari citizens with a visa-free regime to Kazakhstan, and second, we finally signed on November 8 the long-awaited MoU between aviation authorities for the establishment of direct flights by Qatar Airways to Nur-Sultan, the capital city, and the financial and business hub of Central Asia, the city of Almaty; soon seven weekly flights will be available. This means a big support to grow the business and trade between the state and private sectors of Kazakhstan and Qatar.”