Kazakhstan ready to accommodate foreign cos amid departures from Russian market - Kazakh Invest

NUR-SULTAN. May 24 (Interfax) - Kazakhstan could provide conditions for relocation of foreign companies to the republic or create joint ventures given the current situation in the region, Kazakh Invest CEO Meirzhan Yusupov said.

During the visit of Kazakh Deputy Prime Minister and Minister of Foreign Affairs Mukhtar Tleuberdi to the U.S., the Kazakh delegation held talks with representatives of the business circles in New York and Washington, Kazakh Invest said in a press release.

Taking into consideration the developments in the region, very many of the foreign investors have suspended their operations in Russia or announced their decision to leave Russia.

"As many companies are relocating to Kazakhstan, we are ready to provide all institutional conditions as necessary to establish effective liaison with foreign companies by allowing them to move to Kazakhstan or open joint ventures here," Yusupov is quoted as saying.

Kazakhstan's delegation also had meetings with the top managers of Boeing, Valmont Industries, Honeywell, Pfizer, Champion Foods, Paramount, SMP Robotics, LA Solar Group, Ardmore Capital, JP Morgan Chase & Company. The sides discussed prospects of implementation of investment projects in Kazakhstan.

The U.S. is one of the largest strategic foreign investors in Kazakhstan, with investment totaling over $55 billion, the chairman of the Investment Committee of the Kazakh Foreign Ministry, Ardak Zebeshev said during the negotiations.