Investment and business opportunities of Kazakhstan presented in Malaysia


The ASTANA – Kazakhstan Business Opportunity Forum took place earlier this week in Sarawak, the largest state in Malaysia. The event was organized by Pengiran Dato’ Dr. (Ts) Daud, Honorary Consul of the Republic of Kazakhstan in Sarawak.

The business forum was attended by members of the government and state officials, as well as over 130 participants, including entrepreneurs, heads of business associations and media representatives, the Kazakh Foreign Ministry reported.

Datuk Amar Haji Awang Tengah Bin Ali Hasan, Deputy Prime Minister of Sarawak, stressed Kazakhstan’s investment climate. He mentioned that Kazakhstan and Malaysia share interests in joint developments in oil and gas, infrastructure, digital economy, telecommunications, halal industry and agriculture.

The Deputy Prime Minister repeatedly stressed that Sarawak’s businessmen have a unique opportunity to develop business with Kazakhstan. “We have strong G2G and B2B relationships between our countries. Kazakhstan is a country with huge opportunities,” he added.

The Honorary Consul of Kazakhstan, Daud Pengiran Putera, informed about political and economic reforms in Kazakhstan and highlighted the favorable business climate. He also touched on the trade and economic relations between the two countries.

The event was attended by heads of Malaysian companies doing business in Kazakhstan. Dato Hii King Chiong, CEO of Kings Development LLP, which operates real estate business in Astana, shared his experience of doing business in Kazakhstan and said that his company has invested over $7 million in Kazakhstan since 2016. He expressed confidence in the investment climate of Kazakhstan.

Representatives from Kazakh Invest, Astana International Financial Center and QazTrade made their online presentations.

Ambassador of Kazakhstan Bulat Sugurbayev stressed the significant potential of cooperation in the areas of energy, infrastructure, renewable energy, trade and tourism. He said that strong political, economic, cultural and humanitarian ties have been established between the countries, and Malaysia invested about USD 1 billion in Kazakhstan today.

As a result of the forum, Sarawak companies decided to set up a business delegation to Kazakhstan next year. Ambassador Sugurbayev invited Deputy Prime Minister of Sarawak to lead this business trip to Kazakhstan in 2023.


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