Kazakh-Chinese partnership getting stronger
By Kamila Aliyeva
As many as 51 investment projects worth $27.7 billion are being realized in Kazakhstan within the framework of Kazakh-Chinese cooperation.
This was announced by the Minister of Investment and Development Zhenis Kassymbek at a meeting of the government on February 27.
Four projects worth $140 million have already been introduced, according to the official.
“Under this program in 2018, 11 projects are being constructed, of which six projects for a total of $363 million are planned to be launched. This year, construction of five projects involving Chinese capital with investment volume of $623 million will begin,” he said commenting on plans for Kazakh-Chinese cooperation.
“The Chinese company, KTI, has offered Kazakh Invest to create a biochemical cluster, currently a search for Kazakh partner is conducted. In the long term, the base list will attract funds from international financial institutions, including PPPs,” Kassymbek added.
A public–private partnership (PPP) is a cooperative agreement between two or more public and private sectors, typically of a long-term nature. Within the approved state program of industrial-innovative development of Kazakhstan for 2015-2019, public-private partnership is defined as a mechanism of rapid industrialization in terms of creation and development of infrastructure projects.
JSC Kazyna Capital Management plans to participate in the creation of the Chinese-Eurasian fund “Nurly”, said Aidar Arifkhanov, chairman of the board of the national managing holding Baiterek.
“According to Kazyna Capital Management, it is planned to sign the necessary documents for the establishment of the Chinese-Eurasian investment fund $400 million worth,” Arifkhanov said at a government meeting on Tuesday.
In addition to Kazyna Capital Management JSC, the CITIC Group Corporation, the China-Eurasian Economic Cooperation Fund and the Asia Investment Finance Group intend to participate in the new fund.
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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
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