BAKU, Azerbaijan, January 8. Kazakhstan's Qazaqstan Investment Corporation JSC (QIC) has signed a framework agreement with China Huadian Overseas Investment Ltd. during the recent visit of Kazakh President Kassym-Jomart Tokayev to China, a source in the Corporation told Trend.
As the source noted, the agreement is aimed at solving the tasks of Kazakhstan's energy sector.
The source emphasizes that one of the main tasks for implementation is ensuring the country’s energy security by introducing new capacities (including facilities of renewable energy sources).
According to the source, another important goal under the agreement is to increase the investment attractiveness of Kazakhstan, including in the energy sector, for foreign capital.
Meanwhile, in October 2023, Kazakhstan and China signed a number of documents in the fields of energy, transport, investment, the transfer of production technologies, etc. A total of 30 commercial documents were signed for a total of $16.54 billion.
Furthermore, QIC is a fund of private equity funds with state participation, created to promote the growth and development of the national economy of Kazakhstan. Activity of QIC is aimed at forming private equity infrastructure in the country and attracting foreign investment in priority sectors of the economy. For every dollar invested, QIC attracts $2.1 from the funds of foreign partners.