A lack of a “full picture” of Kazakhstani regions’ economic potential holds back attraction of investments from China

Almaty. October 25. Silkroadnews – Lack of information about the economic potential of the regions of Kazakhstan among the Chinese investors hampers attraction of direct investments from China, Deputy Head of the Department of Natural Resources and Environmental Control of Almaty Aydin Kerimbek said, KazTAG writes.

“The enormous potential of our countries (Kazakhstan and China – Silkroadnews) is still underdeveloped. One of the reasons behind this is a lack of a whole view of the economic potential of Kazakhstan’s regions for the potential investors from China, especially from the Chinese provinces. The cooperation is restricted with the border regions or the commodity sector”, A. Kerimbek said during a business conference “Doing business with Qingdao” in Almaty.

In his opinion Qingdao could serve a good example of cooperation between Kazakhstan and China. This city is one of the leading ports in China, where the offices of major companies operating in the field of new technologies are located.

“To strengthen economic cooperation we have established the Institute of business development of Kazakhstan and China to be opened in 2016. This institute will not duplicate the functions of the various associations and foundations, but will serve as a research structure to fill the gap of cooperation between Kazakh and Chinese businessmen”, A. Kerimbek said.

According to Wang Wenhua, director of the Standing Committee of Qingdao People’s Congress, the port is the first point of departure on the economic belt of the Silk Road, and Almaty is the first point on the way cross the border of China.