Kazakh and Italian Business Leaders Seal $1.5 Billion in Deals at Roundtable
Kazakhstan Offers Italian Companies Lucrative Investment Opportunities
Kazakh President Kassym-Jomart Tokayev addressed Italian business leaders at the Kazakh-Italian roundtable in Rome on Jan. 19, where four strategic agreements were signed, as reported by the Akorda press service.
Nearly 30 Italian companies attended the event, where agreements were inked, including one between Kazakhstan’s Samruk Kazyna Sovereign Wealth Fund and Balestra for a sulfuric acid plant in the Turkistan Region. The plant, with a capacity of 800,000 tons per year, will supply sulfuric acid to Kazatomprom national company.
Additionally, Kazakhstan’s Baiterek holding signed an agreement with SACE, an Italian insurance-financial group, to ensure insurance for transactions with Italian participation in investment projects in priority sectors.
The event also saw the signing of an agreement between Samruk Energy and Ansaldo Energia for the reconstruction of Almaty’s combined heat and power plant (CHP-3) to enhance energy production.
Kazakh President Tokayev emphasized the nation’s significant economic growth of 5.1% last year, twice the projected global indicator, and aims to double the economy by 2029. He also expressed Kazakhstan’s commitment to broader market-oriented and competitive economic reforms.
Italy’s keen interest in increasing exports and providing new opportunities for Italian businesses was highlighted by Italian Minister of Foreign Affairs and International Cooperation Antonio Tajani, who identified Kazakhstan as a priority country for their growth strategy.
Energy ties between Kazakhstan and Italy were emphasized, with the fact that over 80% of Kazakhstan’s oil is exported to Europe, meeting around 10% of the European Union’s needs.
Additionally, President Tokayev invited Italian businesses to participate in service maintenance of the oil and gas industry, and he highlighted the promising prospects for renewable energy and the extraction and processing of critical raw materials.
With Kazakhstan’s aim to become a regional hub, the Kazakh President also emphasized opportunities for connectivity and investment in the transport and logistics sector, calling on Italian investors to participate in the development of ports and the joint production of transport vessels.
Finally, Tokayev highlighted opportunities for cooperation in the agricultural sector, as Kazakhstan aims to triple the productivity of its agricultural sector and double its exports. He expressed interest in collaborating with Italian partners in the cultivation of cereals and oilseeds, as well as the production of pasta, meat, and dairy products.
The meeting in Rome served to strengthen economic and trade relations between Kazakhstan and Italy, highlighting the potential for further cooperation and investment between the two nations.
