Qatar set to invest USD 20 bln in joint projects in Kazakhstan
The Kazakh Senate ratified an agreement on long-term strategic cooperation between Kazakhstan and Qatar to boost the development of projects in key economic sectors, Kazinform News Agency reports.
It provides for the development of investment projects in Kazakhstan in spheres such as telecommunication, energy, transport, petrochemistry, agriculture and finance, guarantees the protection of investors from forcible withdrawal of assets, and tax stability, and grants a package of tax and customs privileges.
The agreement stipulates the development of the following projects: setting up a new communication service provider, construction of a new gas processing plant at the Kashagan oil deposit, the second string of the Beineu-Bozoi-Shymkent gas pipeline, an electric power plant in Kyzylorda region and a hydroelectric power station on the Irtysh River.
Besides, Kazakhstan and Qatar ratifed an agreement on military cooperation.