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Astana, Kazakhstan • 02 February, 2023 | 10:30

German Investors Plan to Establish Innovation Center in Kazakhstan

The list of joint projects consists of 51 projects worth over $4 billion

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Mulderphoto/ adobestock
Mulderphoto/ adobestock

The Kazakhstan-Bavarian investment roundtable in Munich discussed the dynamics of bilateral relations between the two countries as well as the opportunities for German businesses to partner with Kazakhstan’s developing industries, QazMonitor reports.

The Central European country is one of Kazakhstan's most important partners in the EU. The bilateral trade volume in 2021 was $2.2 billion – 6.4% higher than the previous year’s figure of $2.1 billion. Since 2005, they have invested $5.3 billion, most of it in the manufacturing and processing industries.

Currently, the list of joint projects consists of 51 projects worth over $4 billion.

Meirzhan Yussupov, the chair of the national agencies’ Kazakh Invest management board, spoke about the country’s untapped logistical potential and government preferences given to the business enterprises in the country.

During the working visit to the federal state of Bavaria, Kazakh Invest officials held talks with several local companies.

At a meeting with EOS GmbH, the world's leading producer in the field of industrial 3D printing of metal and plastic products, the sides discussed the possibility of establishing a scientific and innovation center for material competencies, such as polyamides and metal powders.

Additionally, a partnership agreement was signed between the company and Satbayev University in Almaty.

At the same meeting, the Kazakh delegation held talks with another German business, GS-Bavaria GmbH, which produces high-performance nano-materials and functional additives. The company’s CEO Sergej Schmitke spoke about plans to implement projects for the production of polyethylene-wax products and nano-particle products in Kazakhstan.

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