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Qatar, China and Kazakhstan will create a direct investment fund in Kazakhstan for the development of the dairy cluster

Kazakhstan 30.01.2024
Source: lsm.kz
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Kazakhstan and Qatar are working on mutual promising projects that can be implemented in various sectors of the economy. To strengthen cooperation, the parties have already signed an investment protection agreement. Countries began to work on projects worth $1.3 billion.
Qatar, China and Kazakhstan will create a direct investment fund in Kazakhstan for the development of the dairy cluster

The Atar Power International Holding, the Chinese China International Capital Corporation and the Kazakh holding Baiterek agreed on the development of the agro-industrial complex in Kazakhstan. The parties will create a direct investment fund in Kazakhstan with the participation of Qatari and Chinese companies for the development of the dairy cluster, including the production, processing and export of dairy products.

As Baiterek explained, Qatari partners Power International Holding, represented by its subsidiary Baladna, will be a technological partner. And the created fund will become one of the ten largest processors of dairy products in the world.

It is worth noting that this will attract long-term investments and give a new impetus for the development of not only the dairy industry, but also the entire agro-industrial complex of Kazakhstan in general.

The two countries have already signed a memorandum of cooperation on dairy farm projects .

In the Akmola region, with the participation of a Qatari investor, it is planned to build a grain processing plant. The estimated cost of the project is $200 million. Work is currently underway on its concept and terms of partnership.

Another Qatari company also became interested in the possibilities of the Kazakh agro-industrial complex. Chief Executive Officer of Hassad Food Mohammed al-Sada spoke about the experience of implementing projects in other countries. And he noted that his company intends to strengthen trade relations between countries to ensure food security.

The result of all this work was an agreement between the national company Kazakh Invest and Qatar National Enterprise on cooperation in the field of agriculture.

It is noted that Kazakhstan intends to increase exports to official Doha. Prime Minister Alikhan Smailov, during a meeting with the Emir of Qatar, Sheikh Tamim bin Hamad al-Thani, emphasized the importance of trade between the two countries. During the conversation, Alikhan Smailov proposed increasing the export of domestic products to Qatar across 60 commodity items worth about $243 million.

QIA, which was founded in 2005 to manage government revenues from oil and natural gas, has invested in French startup Innovafeed, which aims to solve food security problems.

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April 2024
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