Qatar invests $20 billion in Kazakhstan

By Alimat Aliyeva

Qatari investments in the amount of $20 billion will be directed to the implementation of joint projects in Kazakhstan, Azernews reports.

The Senate of Kazakhstan has ratified an agreement on long-term strategic partnership with Qatar for the development of projects in priority sectors.

The agreement provides for the implementation of investment projects in the territory of the Republic of Kazakhstan in the fields of telecommunications, energy, transport, petrochemistry, agriculture and finance.

It also contains rules on protecting investors from forced gratuitous confiscation of property, ensuring the stability of the tax regime and providing a number of tax and customs benefits.

The agreement will allow the implementation of a number of important projects, including the creation of a new telecom operator, as well as the construction of a gas processing plant at Kashagan, the second line of the Beineu-Bozoy-Shymkent main gas pipeline, a power plant in the Kyzylorda region and a hydroelectric power plant on the Irtysh River.