Kazakh President invites KSA cos to invest in Asian country

RIYADH, July 24 (Arab News): Kazakhstan President Kassym-Jomart Tokayev has invited Saudi companies to invest in the central Asian country as it offers a lot of opportunities in the areas of energy, space, recycling, food and agriculture, and construction.
While speaking at the Saudi-Kazakhstan Investment Meeting in Jeddah on July 24, Tokayev urged mutual cooperation between the countries to promote investments. He also invited companies like Saudi Basic Industries Corp. to implement joint projects in Kazakhstan.
Tokayev added that Kazakhstan could be the best choice for Saudi Arabia to explore uranium, as the Kingdom has concrete plans to develop nuclear power plants.
"We are very much interested in the technological expertise of Saudi Arabia in green hydrogen production. Given the impressive results of Saudi companies in green energy, I would encourage you to explore similar opportunities in Kazakhstan," he said.
The president further added that Saudi Arabia has supported Kazakhstan by implementing several projects in education, healthcare, culture, and infrastructure, worth more than $120 million in the country.
Talking about the potential in space exploration, he said, "We also see cooperation in space exploration as a promising area. We are pleased to see the Kingdom's desire to drive the space programme as part of Saudi vision 2030. The two countries have a relevant legal framework for cooperation on research and peaceful use of outer space."
Kazakhstan is a vibrant economy, says Khalid Al-Falih
While speaking at the same event, the Saudi Arabian Minister of Investment, Khaled Al-Falih called Kazakhstan a "vibrant economy."
"Some of you may know Saudi Arabia was one of the first nations which recognized the independence of Kazakhstan in 1991. And in three decades, Kazakhstan has become one of the most vibrant economies," said Al-Falih.