Ulbossyn Sarybayeva
29/01/2025 22:23
Recently, the Board of Directors of Kazakh Invest, chaired by the Prime Minister of Kazakhstan, appointed a dedicated foreign representative – an Economic Counsellor to the Embassy in Hungary. With a decade of experience in the Ministry of Agriculture of Kazakhstan, I am honoured to take on this role, actively promoting Kazakhstan’s investment landscape and facilitating deeper cooperation with Hungary.
Kazakhstan’s economy, the largest in Central Asia, offers robust investment opportunities, supported by its abundant natural resources, expanding industrial capabilities, and strategic location bridging Europe and Asia. As the country seeks to attract foreign investment across sectors, Kazakhstan’s favourable rankings in global competitiveness and governance indicators highlight its commitment to building an attractive and accessible market for international investors.
Agriculture has emerged as a cornerstone for Kazakh-Hungarian collaboration. My decade-long experience in the Ministry of Agriculture of Kazakhstan has equipped me with a deep understanding of this sector, and Hungary’s agricultural innovations align seamlessly with Kazakhstan’s extensive production capabilities. One promising example of this collaboration is Hungary’s UBM Group, a leader in compound feeds, which has announced plans to construct a feed mill in Kazakhstan with an annual production capacity of at least 200,000 tonnes. This major project is expected to receive partial funding from Hungarian NCH Capital, reflecting both countries’ dedication to elevating Kazakhstan’s livestock industry through the introduction of advanced production technologies and management systems.
Beyond agriculture, sectors such as renewable energy, technology, and logistics are drawing increasing interest from Hungarian investors. For instance, Kazakhstan’s government has launched the National Concept of Investment Policy, which will guide investment priorities through 2029, offering targeted incentives and streamlined support for international businesses. This policy fosters growth in key sectors, ranging from green energy and innovation to infrastructure, creating opportunities for Hungarian companies to contribute and thrive within Kazakhstan’s evolving economy.
Recent high-level engagements, including dialogues facilitated by Kazakh Invest and the Kazakh Embassy in Hungary, have already fostered closer partnerships. These discussions, supported by the Hungarian Chamber of Commerce and Industry, reinforce the commitment of both countries to promote investment, resource exchange, and expertise-sharing across the industries where their respective strengths align.
The appointment of a dedicated foreign representative – an Economic Counsellor to the Embassy in Hungary – underscores Kazakhstan’s proactive approach to building sustainable, long-term investment relations. With support from both governments and the active involvement of business leaders, the Kazakh-Hungarian economic landscape is poised for significant expansion. This partnership is more than an exchange of capital; it is a shared commitment to innovation, regional stability, and mutual prosperity.
I am honoured to support this effort, working towards a future where both nations move forward together, reinforcing their role as regional leaders and partners in growth.
The author is Foreign Representative of Kazakh Invest, Economic Counselor, Embassy of Kazakhstan in Hungary