Saudi MISA Signs Several MoUs with Kazakhstan in Diverse Growth Sectors

The Ministry of Investment of Saudi Arabia (MISA) has hosted a senior delegation from Kazakhstan at the Saudi-Kazakh Investment Meeting, which culminated in 13 Memoranda of Understanding (MoUs) in fields such as power, tourism, sports, agricultural products, pharmaceuticals, media and financial services.

The MoUs demonstrated joint impetus to expand global power capabilities while indicating a growing global recognition of the investment opportunities available across diverse Saudi sectors. They include;

• A GTG investment agreement between the Saudi Ministry of Sports and the Kazakh Ministry of Culture & Sports to support the thriving sector,
• Agreements between the Ministry of Media of Saudi Arabia and the Ministry of Information and Social Development of Kazakhstan, as well as between the Saudi Press Agency and Kazakhstan’s TV and Radio Complex, for information exchange,
• Cooperation agreements between Saudi Arabia’s Ajlan & Bros Holding Group and several Kazakh partners governing such commercial activities as meat exports, and
• An MoU between Saudi stock exchange Tadawul and Astana International Exchange.

The meeting included presentations by both Kazakh and Saudi entities. From Kazakhstan, Mr. Almassadam Satkaliyev, CEO of sovereign wealth fund Samruk-Kazyna (JSC), proposed several joint pilot projects in technology and knowledge transfer and green technologies. Mr. Kanat Sharlapayev from Bayterek National Management Holding, the Kazakhstan government’s main financial agent, shared perspectives on how to support sustainable economic development to implement the country’s ambitious national goals.

On the Saudi side, Mr. Mohammed Abunayyan, chairman of ACWA Power, Mr. Yousef Al Benyan, CEO of SABIC, Mr. Talal Al Khoraiji, vice president of Saudi National Bank, Mr. Ahmed Al Dakkeel, CEO of Alrajhi International for Investment, and Mr. Shaaf Al-Osaymi, Senior Director of the Strategy Delivery business line at Maaden, showcased their work and highlighted areas of investment available in the Kingdom.

The latest partnerships build on the Kazakhstan tourism forum held in April, where Kazakh travel companies signed cooperation agreements with Saudi tour operators, as well as on investment minister Mr. Khalid Al-Falih’s visit to Kazakhstan in September.