UAE investments in Kazakhstan jumps over AED 2 billion
Kazakhstan underscores the importance of the UAE participation at forthcoming Expo Astana 2017
Dubai, UAE, 28 February 2016: HE Kairat Lama Sharif, the Ambassador of Kazakhstan to the UAE emphasized the importance of strong UAE-Kazakhstan relations, revealing that the UAE investments in Kazakhstan crossed AED 2 billion according to the Kazakhstani Ministry of Investment and Development. He elaborated that trade exchange recorded USD 135 million by the end of 2015.
HE Lama Sharif unveiled that Kazakhstan is willing to extend the validity of the UAE visitors stay to 30 days, instead of the regular 15-day permit. This is in addition to the fact that UAE nationals are exempted from visa to Kazakhstan since July 2014.
This was revealed on the sidelines of a delegation visit headed by HE Lama Sharif to Dawood Al Shezawi, President of Annual Investment Meeting (AIM), one of the world’s leading Foreign Direct Investment (FDI) - focused platform. AIM Higher Organising Committee, in collaboration with the Embassy of the Republic of Kazakhstan to the UAE, presented to around 70 of Kazakhstani businessmen and investors details about 14 additional investment activities to be added during the 6th edition of AIM, calling them to take part in the region’s most prominent FDI event.
HE Kairat Lama Sharif assured their eagerness to facilitate Kazakhstani delegations to attend AIM annually, pointing out that the Kazakhstani participation in the 6th edition of AIM will be of broader scale. HE Lama Sharif revealed that the city of Almaty, the largest city and financial center in Kazakhstan, is seeking to establish bilateral relations with Dubai Municipality to help businessmen in Kazakhstan to activate economic relations with Emirati investors.
HE Lama Sharif says Kazakhstan sees great importance in UAE presence in Expo Astana 2017, which will be held in the capital ‘Astana’ from 10th of June until the 10th of September 2017. “The expo's official theme "Future Energy" will be on focus, so we see the UAE as an essential participant in this event, in the sense that the country will be hosting the World Expo 2020. The UAE is home to the IRENA – The International Renewable Energy Agency regional headquarters, and has prominent projects in this domain. In addition, Astana city will host the ‘Astana Expo-2017’ in conjunction with the opening of the Abu Dhabi Plaza, a development that is expected to be the tallest building in Central Asia,” added HE Lama Sharif.
During his speech at the UAE–Kazakhstan Business Matching, Dawood Al Shezawi, President of AIM, called for larger Kazakhstani presence in the forthcoming global event. He stressed on the importance of Kazakhstan to participate in AIM this year by doing a Country Presentation, pointing out that Kazakhstan has recorded strong presence over the past years and provided many promising investment opportunities in the FDI sector. “We look forward to further collaboration, and share the same vision in building diversified, sustainable and knowledge-based economies,” he added.
More than 15,000 attendees from over 140 countries will take part in the 6th edition of AIM, that will be held under the patronage of HH Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai. According to Al Shezawi, participating in AIM will enhance opportunities for investors and companies from Kazakhstan to strengthen their presence in the UAE, the region and the world, and will enable Kazakh companies to establish new partnerships and expand its business in global markets through Dubai.
He added that AIM is the first event of its kind in the Middle East region in terms of presenting wide number of investment opportunities in a single platform. It plays a dominant role in promoting investment in emerging markets and fast-growing economies. He pointed out that the AIM works to stimulate FDIs across the world markets, contribute to strengthening the countries' economies, and establish partnerships in various sectors and fields.
The event also witnessed participation of a delegation from the city of Almaty, the largest city in Kazakhstan, seeking to establish bilateral relations with the UAE in sectors such as energy, oil, real estate, infrastructure, telecommunications, transportation and logistics.
The Business Matching, which was also attended by businessmen from the UAE, saw series of presentations related to AIM 2016. Various aspects and investment opportunities in both countries were highlighted.