BAKU, Azerbaijan, May 23. Singapore's investments in Kazakhstan showed a six-fold increase, reaching a record high of $400 million in 2022, Kazakhstan's Prime Minister Alikhan Smailov said, Trend reports.
He made the remark during the Kazakhstan-Singapore Business Forum, which was held in Astana on May 22.
"Currently, Singapore is the largest trade and investment partner of Kazakhstan in the ASEAN region [Association of Southeast Asian Nations]. In 2022, bilateral trade increased by 65 percent and reached almost $2 billion," he said.
Smailov highlighted that over 230 Singaporean companies and joint ventures are operating in Kazakhstan, emphasizing the immense potential for expanding economic relations between the two countries.
Furthermore, he stressed that large Singaporean companies are actively expanding their presence in Kazakhstan. In particular, Smailov noted the successful partnership with Surbana Jurong in the implementation of the large-scale G4 City project in the Almaty region, cooperation with the world-famous Indorama production group, as well as the importance of the agreement between KTZ and PSA International on the creation of a joint venture that will accelerate the development of the Middle Corridor.
