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Astana, Kazakhstan • 30 November, 2022 | 12:24

Kazakhstan to Ensure Safety of Russian Investments

The total number of companies with Russian participation amounts to 17,000

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During the working visit to Russia, president Tokayev participated in the 18th Interregional Cooperation Forum in Orenburg via video conference and spoke about the opportunities for Russian business in Kazakhstan, QazMonitor reports citing the press service of Akorda.

The president outlined the current cooperation between the countries, noting that bilateral trade has been steadily increasing, as has the share of national currencies in mutual transactions.

According to him, the volume of trade between the countries reached a new record value of $24.5 billion, with Kazakhstan’s exports to Russia rising to $100,000. The number of commodity items increased from 640 to 1,050, when compared to 2021.

As for the total number of enterprises with Russian participation and joint Kazakh-Russian ventures in the country, their total number amounts exceeds 17,000 companies.

"Russian investments in Kazakhstan are steadily increasing every year. We will do everything in our power to ensure the security of these investments and attract as much as possible to our country.” Kassym-Jomart Tokayev, president of the Republic of Kazakhstan

The president also noted that last year, direct investment from Russia to Kazakhstan exceeded the pre-pandemic level amounting to $1.9 billion. At the same time, investments from Kazakhstan to Russia rose to $535 million, growing by 34%.

Tokayev stressed the importance of the joint work, stating that the two sides have now successfully implemented 110 projects totaling $23 billion. About 30,000 jobs have been created as part of these projects.

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