Kazakhstan and Italy forge alliance with visionary joint investment fund initiative

Kazakhstan and Italy announce a groundbreaking collaboration as they unveil plans for a future joint investment fund, aiming to foster economic synergy and strengthen bilateral ties.

Kazakhstan’s Sovereign Wealth Fund, Samruk-Kazyna, and Italy’s Cassa Depositi i Prestiti have signed an agreement to establish a joint investment fund, marking a significant step toward greater economic cooperation. The signing occurred during President Kassym-Jomart Tokayev’s official visit to Italy, demonstrating the countries’ commitment to fostering collaboration and exploring new avenues for mutual investment.

The collaborative effort between Samruk-Kazyna and the Italian conglomerate extends to the creation of a joint investment fund, with a strategic focus on key sectors such as manufacturing, energy, and logistics. This ambitious initiative aims to leverage the strengths of both nations, fostering economic growth and technological advancements in areas crucial to sustainable development.

The significance of this partnership is underscored by Kazakhstan’s position as Italy’s primary economic partner in Central Asia. Simultaneously, Italy holds the distinction of being Kazakhstan’s largest trading partner within the European Union, further solidifying the importance of this bilateral collaboration.

The joint investment fund is poised to play a pivotal role in driving innovation and infrastructure development in the targeted sectors. Manufacturing, energy, and logistics are identified as crucial pillars for economic progress, and the collaboration seeks to harness the combined expertise and resources of both countries.

As a testament to the enduring economic relationship, over 300 Italian companies are currently operating successfully in Kazakhstan. Major players such as Eni, SDF Group, PetroValves, Maire Tecnimont, IVECO, Tenaris, and others have made substantial contributions to Kazakhstan’s economic landscape. Italy consistently ranks among the top five EU investors in Kazakhstan, with a cumulative investment inflow of $7.3 billion over the past 17 years.

The recent surge in investments, witnessed by a 2.5-fold increase totaling around $300 million by the end of last year, signifies the growing confidence and commitment of Italian investors in the Kazakhstani market. This upward trajectory reflects positively on the business-friendly environment fostered by Kazakhstan and the mutual benefits derived from sustained economic collaboration.

The creation of the joint investment fund demonstrates Kazakhstan and Italy’s shared vision and commitment to deeper economic integration. As the two countries embark on this collaborative journey, the joint investment fund is poised to drive transformative growth by encouraging innovation and sustainability in key economic sectors.