Chinese companies keen to invest in Kazakhstan’s machine building industry
Chinese companies have strong interest in investing in the machine building industry of Kazakhstan, including creation of joint ventures with localization of key components, Zhou Haiming, Vice-President of the CCPIT Machinery Industry Sub-Council, said at the 12th Forum of Machine Builders of Kazakhstan, Kazinform News Agency correspondent reports.
Addressing the event on Thursday, Zhou Haiming said: ‘Kazakhstan and China enjoy good-neighborly, friendship and partner relations, as the two countries have years-long cooperation. In 2024, China emerged as a top partner of Kazakhstan, with mutual trade reaching 44 billion US dollars’.
There are up to 3,000 Chinese companies already invested in the Kazakh economy, with a special focus on the machine building industry, which is intercomplementary.
Significant trading activity with notable investments has been observed in this industry, said Zhou Haiming, urging further production development.
The Vice-President of the CCPIT Machinery Industry Sub-Council said that there are ongoing Chinese investment projects in Kazakhstan and that there is interest in expanding their presence through joint enterprises.
Zhou Haiming believes that machine building is a promising area for cooperation.
As earlier reported, machine building output is to grow by 4.5 times in Kazakhstan by 2028.
