German Direct Investment in Kazakhstan Hits Record $770 Million in 2023

ASTANA – Last year, German direct investment in Kazakhstan grew 64% to a record high of $770 million, President Kassym-Jomart Tokayev said at a meeting with Chair of the Board of the Eastern Committee of the German Economy Cathrina Claas-Mühlhäuser on May 15, reported Akorda.

Kassym-Jomart Tokayev with Cathrina Claas-Mühlhäuser. Photo credit: Akorda

Determining Germany as a strategic partner of Kazakhstan in the European Union, Tokayev highlighted positive trends in the development of trade and economic relations, as well as growing interest of German businesses in expanding their presence in Kazakhstan.

Speaking of cooperation in the agricultural sector, the President recalled his proposal to establish a Regional Center for Sustainable Agriculture, which will contribute to using Kazakhstan’s agricultural potential more effectively, fostering the adoption of innovative technologies and their commercialization.

Tokayev highly appreciated the contribution of the CLAAS group, whose Supervisory Board is also chaired by Claas-Mühlhäuser, to the development of Kazakhstan’s agricultural potential.

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