Kazakh Prime Minister and JBIC Chairman Talk Investment Opportunities
Kazakh Prime Minister Discusses Joint Investment Projects with Japan Bank for International Cooperation
ASTANA—Kazakh Prime Minister Olzhas Bektenov recently met with Japan Bank for International Cooperation (JBIC) Chairman Hayashi Nobumitsu to discuss expanding financial cooperation and advancing joint investment projects. The meeting took place on August 9th and was aimed at strengthening the partnership between Kazakhstan and Japan.
According to the Prime Minister’s press service, Japan is considered one of Kazakhstan’s major partners in East Asia and ranks among the country’s top 10 most prominent investors. The trade turnover between the two countries increased by 10.5% last year, reaching $2.1 billion. This trend continued in the first five months of this year, with mutual trade amounting to $768 million. Since 1993, Japan has invested approximately $8 billion in Kazakhstan’s economy.
During the meeting, the Prime Minister acknowledged JBIC’s key role in fostering trade and economic ties between the two nations. The bank has financed 26 projects in Kazakhstan worth $2.3 billion, covering various sectors such as energy, water supply, mining, and transport logistics.
Furthermore, JBIC and the Development Bank of Kazakhstan are planning to sign an Agreement of Intent to finance joint projects worth $200 million. These projects will focus on energy, renewable energy, transport, mechanical engineering, the food industry, and other priority sectors.
JBIC Chairman Hayashi Nobumitsu emphasized the bank’s interest in green finance and transit financing, which aligns with environmental, social, and governance (ESG) principles.
During the meeting, Prime Minister Bektenov also expressed his condolences over the recent earthquake in southern Japan, saying, “I hope that this natural disaster does not result in human casualties and significant damage.”
“Japan is our key trade, economic, and investment partner. Today, Kazakh-Japanese relations are flourishing within the framework of an expanded strategic partnership. The Government of Kazakhstan welcomes the opportunity to deepen cooperation and stands ready to support the implementation of joint projects,” added Bektenov.
Overall, the discussions between the Kazakh Prime Minister and JBIC Chairman are expected to further strengthen the economic ties between Kazakhstan and Japan and pave the way for new investment opportunities in various sectors.
