Investment and business opportunities of Kazakhstan presented in Malaysia

Investment and business opportunities of Kazakhstan presented in Malaysia


ASTANA — Kazakhstan Business Opportunity Forum was held earlier this week in Sarawak, the largest state of Malaysia. The event was organized by Pengiran Dato’ Dr (Ts) Daud, Honorary Consul of the Republic of Kazakhstan in Sarawak.

The business forum was attended by members of the government and state officials, as well as over 130 participants, including entrepreneurs, heads of business associations, as well as media representatives, the Kazakh Foreign Ministry reported.

Datuk Amar Haji Awang Tengah Bin Ali Hasan, Deputy Premier of Sarawak, emphasized the investment climate of Kazakhstan. He mentioned that Kazakhstan and Malaysia share interest in joint developments in oil and gas, infrastructure, digital economy, telecommunications, halal industry, and agriculture.

The Deputy Premier repeatedly noted that Sarawak businessmen have a unique opportunity to develop business with Kazakhstan. “We have strong G2G and B2B relationship between our countries. Kazakhstan is a country of huge opportunities,” he added.

The Honorary Consul of Kazakhstan Daud Pengiran Putera briefed about political and economic reforms in Kazakhstan and highlighted the favorable business climate. He also elaborated on trade and economic relations between the two countries.

The event was attended by the heads of Malaysian companies doing business in Kazakhstan. Dato Hii King Chiong, CEO of Kings Development LLP, who runs property business in Astana, shared his experience of doing business in Kazakhstan and said that his company had invested over 7 million US dollars in Kazakhstan since 2016. He expressed confidence in the investment climate of Kazakhstan.

Representatives from Kazakh Invest, Astana International Financial Center and QazTrade made their online presentations.

Ambassador of Kazakhstan Bulat Sugurbayev emphasized the significant potential of cooperation in energy, infrastructure, renewable energy, trade and tourism fields. He said that strong political, economic, cultural, and humanitarian ties had been established between the countries, and today Malaysia has invested about 1 billion USD in Kazakhstan.

As a result of the forum, Sarawak businesses decided to form a business delegation to Kazakhstan next year. Ambassador Sugurbayev invited the Deputy Premier of Sarawak to lead this business mission to Kazakhstan in 2023.