Kazakhstan strengthens partnership with Vietnam’s SOVICO Group
Kazakhstan Ready to Support SOVICO Group’s Investment Activities, President Tokayev Says
President Kassym-Jomart Tokayev of Kazakhstan has expressed the country’s readiness to create favorable conditions for SOVICO Group’s investment activities in Kazakhstan. This announcement was made at a meeting with Nguyễn Thanh Hùng, the Chairman of the Vietnamese company, as reported by the Akorda press service on Nov. 22.
President Tokayev welcomed SOVICO Group’s activities in Kazakhstan and discussed the most promising areas of cooperation, with a focus on the transport and logistics, financial, and mining sectors. This comes in the wake of agreements made during the President’s visit to Vietnam in August, which have given additional impetus to the expansion of bilateral cooperation and opened up new areas of mutually beneficial collaboration.
The government is committed to providing comprehensive assistance in delivering investment projects, particularly focusing on creating a trade and logistics center in Kazakhstan and increasing the number of flights. Deputy Prime Minister Serik Zhumangarin also met with Nguyễn Thanh Hùng and expressed interest in acquiring Qazaq Air, a low-cost airline, while discussing joint development of e-commerce and logistics services. Zhumangarin highlighted the foundations laid for expanding cooperation, such as an agreement signed with Kazpost and a recently inked contract on the provision of customs declaration of goods and logistics services.
“There should be no bureaucracy in our relationships. Kazakhstan needs strong airlines and logistics, and SOVICO Group has it all,” Zhumangarin emphasized.
SOVICO Group is a diversified conglomerate in Vietnam specializing in construction, banking, finance, energy, and aviation, and owning VietJet Aviation.
The trade turnover between Kazakhstan and Vietnam has been significant, amounting to $808.6 million from January to September. Kazakh exports increased to $146.8 million, and imports reached $661.8 million during this period. These numbers underscore the growing economic ties between the two countries.
The willingness of Kazakhstan to support and facilitate the investment activities of SOVICO Group reflects the country’s commitment to enhancing economic cooperation and attracting foreign investment. With a focus on key sectors such as transport, logistics, and aviation, this partnership holds promise for both Kazakhstan and Vietnam.
