41 foreign companies with a total value exceeding $1.5 billion have completed the relocation process from Russia to Kazakhstan
Astana
More than 40 foreign companies with a total value exceeding $1.5 billion have completed the relocation process from Russia to Kazakhstan, announced Bauyrzhan Kudaibergenov, the Vice Minister of National Economy of Kazakhstan, Interfax reports.
“As of today, the government is actively involved in the relocation of foreign companies—large enterprises. We have a list of about 400 companies from more than 30 countries. There are specific results – as of today, 41 companies with a value of more than $1.5 billion have completed the relocation, including InDriver, TikTok, and so on. Currently, work is underway with 37 companies. We may not disclose the names of these companies at the moment,” stated Kudaibergenov during a briefing at the Government of Kazakhstan.
He added that the companies involved come from the manufacturing industry, IT and digitalization, as well as the mining sector. According to him, 37 companies from Russia are currently in the relocation process, with their total capitalization being approximately $1 billion.
“I cannot say that it will be exactly 37 companies. Perhaps it will be slightly fewer, perhaps slightly more, but by the end of the year, we will complete this work. Work is being carried out individually for each company,” noted Kudaibergenov.
In 2023, according to the national company KAZAKH INVEST, 72 companies operating in the Russian market expressed interest in relocating to Kazakhstan. President of Kazakhstan Kassym-Jomart Tokayev instructed to create favorable conditions for the relocation of companies leaving the Russian market to the country.
____________________
