Kazakhstan Bolsters Collaboration with Vietnam’s SOVICO Group

ASTANA – Kazakhstan is ready to create the necessary conditions for SOVICO Group’s investment activities in the country, President Kassym-Jomart Tokayev said at a Nov. 22 meeting with Nguyễn Thanh Hùng, the Chairman of Vietnamese company, reported the Akorda press service.

Kassym-Jomart Tokayev with Nguyễn Thanh Hùng. Photo credit: Akorda.

Tokayev welcomed the company’s activities in Kazakhstan, exploring the most promising areas of cooperation, with a focus on the transport and logistics, financial, and mining sectors.

The agreements made during the President’s visit to Vietnam in August gave additional impetus to the expansion of bilateral cooperation and opened up new areas of mutually beneficial collaboration.

The government provides comprehensive assistance in delivering investment projects, particularly on creating a trade and logistics center in Kazakhstan and increasing the number of flights.

At a meeting with Deputy Prime Minister Serik Zhumangarin, Nguyễn Thanh Hùng expressed interest in acquiring Qazaq Air, a low cost airline, discussing issues of joint development of e-commerce and logistics services.

Zhumangarin highlighted the foundations laid for expanding cooperation, mentioning 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,” he said.

SOVICO Group is a diversified conglomerate in Vietnam specializing in construction, banking, finance, energy, and aviation, and owning VietJet Aviation.

Trade turnover between Kazakhstan and Vietnam totaled $808.6 million January-September, with Kazakh exports increasing to $146.8 million, and imports – to $661.8 million.

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