Kazakh President Bolsters Business Ties with Qatar During State Visit to Doha

ASTANA – President Kassym-Jomart Tokayev’s state visit to Doha continued with meetings with executives of major Qatari business entities, resulting in several agreements on Feb. 14, reported the Akorda press service.

Kassym-Jomart Tokayev meets Sheikh Faisal bin Qassim Al-Thani.

Economic and investment cooperation

At a meeting with Sheikh Faisal bin Qassim Al-Thani, Chairman of Al Faisal Holding and the Qatari Businessmen Association, coordinator of business cooperation with Kazakhstan, Tokayev noted that collaboration with the holding can serve as a gateway to enhance Qatari business presence in Kazakhstan.

The parties reviewed cooperation in the construction, tourism, hospitality, and education sectors. Al Faisal Holding was offered to explore the prospects for constructing a landmark building in Astana, symbolizing friendly relations between Kazakhstan and Qatar.

Investment and financial sector

The President met with Qatar Investment Authority CEO Mansoor Bin Ebrahim Al-Mahmoud, noting that interaction between one of the biggest sovereign wealth funds in the world and Samruk Kazyna Sovereign Wealth Fund can be the primary driver of the economic partnership between the two countries.

The President receives Mansoor Bin Ebrahim Al-Mahmoud.

Mansoor Bin Ebrahim Al-Mahmoud shared plans to enter Kazakhstan’s financial market and implement a project on deep processing of agro-industrial products.

The parties also discussed the establishment of a Kazakh-Qatari direct investment fund in the Astana International Financial Centre.

Energy security

During his state visit, the President signed a number of significant investment agreements, in which Power International Holding acts as the leading participant.

Tokayev meets Moutaz Al-Khayyat and Ramez Al-Khayyat.

Power International Holding Group Chairman Moutaz Al-Khayyat and Group CEO Ramez Al-Khayyat informed Tokayev about plans for the construction of gas processing plants in Kashagan and a power plant based on combined cycle gas technology in the Kyzylorda Region.

They also intend to take part in the construction of a new compressor station, the Beineu-Bozoy-Shymkent and Aktobe-Kostanai gas pipelines.

The President emphasized the particular importance of these projects, as they ensure Kazakhstan’s long-term energy security, and also welcomed Power International Holding’s plans to enter the country’s telecommunications sector.

Renewable energy sources

Tokayev reiterated Kazakhstan’s commitment to achieving carbon neutrality at a meeting with Nebras Power Chairman Mohammed Nasser Al-Hajri, appreciating Nebras Power’s interest in developing the country’s renewable energy industry.

President Tokayev receives Mohammed Nasser Al-Hajri.

The parties signed an agreement on a hydropower plant project in partnership with Samruk Kazyna and discussed cooperation in reducing methane emissions, especially in the energy sector.

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