Kazakhstan, China to create 50 joint enterprises

ASTANA. KAZINFORM - Joint projects with China within the framework of the Kazakh-Chinese program of industrial investment cooperation will be worth $26 billion, according to Vice Minister for Investment and Development Yerlan Khairov.

"The program includes around 50 projects worth $26 billion. The Ministry for Investment and Development works together with the National Development and Reform Commission of the People's Republic of China. We've already held several online discussions of the projects," Vice Minister Khairov said at a press briefing in Astana.

He noted that in accordance with the program all products produced by the Kazakh-Chinese joint enterprises will be directly exported to China.

According to Khairov, over the past 11 years total volume of foreign direct investment to Kazakhstan has amounted to over $226 billion, including $13.4 billion from China.

Chairman of the Board of Kaznex Invest Agency Borisbiy Zhangurazov, in turn, said that Kazakhstan and China will implement ‘big industrial projects' within the framework of the Kazakh-Chinese program of industrial investment cooperation.

"The program embraces a lot of industries. We are talking about the projects in ore mining and smelting, engineering, energy, chemistry, petrochemistry and many other industries. Those are the priority industries for Kazakhstan," he added.

It was also revealed that the joint enterprises within the framework of the program will be located in Almaty, Akmola, Pavlodar, West Kazakhstan and South Kazakhstan regions.

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