Qatari investors inject $500mn into agriculture in Kazakhstan

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Daryo | 16 Februrary 2024

Qatari investors inject $500mn into agriculture in Kazakhstan
 
Qatari investors have committed a staggering $500mn in investments into Kazakhstan, the Ministry of Agriculture of Kazakhstan reported. The announcement comes as part of President Kassym-Jomart Tokayev's recent visit to Qatar, where several pivotal agreements were inked, cementing the partnership between the two nations in the agricultural sector.

One of the pivotal agreements entails a collaboration between Qatari company Hassad Food, Turkish firm Tiryaki, and Kazakhstan's National Management Holding “Baiterek” to establish a plant in the Akmola region. With an estimated investment of $200mn, the facility is poised to undertake the deep processing of grains and peas, ushering in a new era of agricultural development in the region.
 
Moreover, a Strategic Investment Partnership Agreement was formalized in Qatar between Dinara Group Holding and Qatar National Enterprises, charting a comprehensive roadmap for collaboration spanning agriculture, construction, infrastructure development, healthcare, and education. A joint direct investment fund earmarked for the agricultural sector's development in Kazakhstan and Central Asia is also on the cards.
 
Under the ambit of this agreement, Dinara Group Holding is set to upscale its dairy, meat, and crop production endeavors, fortify its breeding stock base, and erect additional dairy farms. Plans are also afoot for the construction of a state-of-the-art milk processing and cheese production plant, with the finished products earmarked for export to burgeoning markets in China and the Middle East. The investment quantum earmarked for this ambitious venture stands at a formidable $300mn, underscoring the robust level of trust and confidence between the partnering entities.
 
The Minister of Agriculture of Kazakhstan, Aidarbek Saparov, spearheaded a series of high-level meetings aimed at galvanizing investment inflows and fostering strategic partnerships in the agricultural domain. During discussions with Abdullah bin Hamad bin Abdullah Al Attiyah, the Minister of Municipality of the State of Qatar, strategic imperatives were delineated, including plans to double lamb exports to Qatar by the end of 2024. Additionally, deliberations centered on optimizing grain logistics routes to facilitate seamless shipments to Qatar via Iran.

Earlier, President Kassym-Jomart Tokayev of Kazakhstan expressed deep gratitude to the Government of Qatar and the esteemed "Qatari Businessmen Association" for their steadfast dedication to nurturing economic relations between the two nations. A recent high-level dialogue between the leadership of Kazakhstan and Qatar has resulted in numerous agreements across various sectors, aimed at strengthening the multifaceted ties between the two countries. President Tokayev praised Qatar's impressive advancements under the leadership of His Highness Sheikh Tamim bin Hamad Al Thani, citing it as a source of inspiration for nations globally. He commended Qatar's forward-looking "Qatar – 2030" national program for its bold fusion of modernization and traditional values, viewing it as a model for sustainable progress.

Baiterek | 12 October 2022
 
Baiterek Holding and Qatar's leading agro-industrial companies sign agreements

On October 12, 2022, Astana hosted a Kazakhstan-Qatar business forum attended by the Emir of Qatar Sheikh Tamim bin Hamad Al Thani.
 
At the forum, Kanat Sharlapayev, Chairman of the Board of Baiterek Holding, signed three memorandums of understanding with the leading Qatar-based agro-industrial companies:
 
– Memorandum between Baiterek Holding and Hassad Food investment company;
 
– Tripartite Memorandum between Baiterek Holding, Dinara Group Agroholding, and Baladna;
 
– Memorandum between Baiterek Holding, Alel Agro JSC, and Baladna.
 
The Memorandums are expected to boost the development of mutually beneficial business cooperation between Kazakhstani and Qatari companies. Baiterek Holding will play a crucial role in the said cooperation.
 
Besides, the forum focused on bilateral trade, and economic and investment cooperation in the agro-industrial complex.
 
Nurbolat Aidapkelov, First Deputy Chairman of the Board of Baiterek Holding, spoke at the forum.
 
– More than 87 thousand agricultural manufacturers are financed by Baiterek Holding's subsidiaries. The average loan amount is 26 million tenge. To date, the Holding has financed 892 investment projects worth $1.6 billion. About $1.2 billion have been allocated for this purpose so far, – he said.
  •   Daryo
  • 16 February 2024
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