French Companies Seek to Increase Investment in Kazakhstan

ASTANA – A French business delegation announced plans to increase investments in the priority sectors of the Kazakh economy after meeting with Kazakh officials in Astana, including representatives of ministries, the National Bank, and major Kazakh companies, reported Kazakh Invest national company on April 18. 

Photo credit: Kazakh Invest.

The delegation included senior representatives of major companies, including Airbus, Alstom, Air Liquide, Assystem, Exa, Idemia, EDF, Vicat, Meridiam, Orano Mining, Oberthur Technologies, Veolia, Thales, Voltalia, among others. 

Several French companies, which already invest in Kazakhstan, announced plans to increase the volume of investments in priority sectors of the economy, including energy, oil and gas, mechanical engineering, aviation, production of cement and building materials. New French companies from the nuclear, gas and energy sectors are also interested in localizing production in Kazakhstan.

Ardak Zebeshev, Chair of the Investment Committee of the Kazakh Ministry of Foreign Affairs, outlined the investment opportunities in the country and state support measures for investors, noting Kazakhstan’s readiness to support the implementation of investment projects.

France is one of Kazakhstan’s key trading partners. In 2022, trade between the two countries recovered to the pre-pandemic level reaching $4 billion, an increase of 35.3 percent compared to the previous year. Kazakhstan exported goods worth $3.1 billion, while imports reached $900 million.

France is also one of the five largest investors in Kazakhstan, having invested more than $17 billion since 2005. More than 170 French companies operate in Kazakhstan today. 

The visit of the French business delegation is a result of the agreements on investment projects and proposals considered during the official visit of President Kassym-Jomart Tokayev to France in November last year.

Get The Astana Times stories sent directly to you! Sign up via the website or subscribe to our Twitter, Facebook, Instagram, Telegram, YouTube and Tiktok!