Kazakhstan and China established joint investment fund
On June 8, 2018, in Beijing, as part of an official visit of head of state Nursultan Nazarbayev to the People’s Republic of China, an agreement to establish a joint Kazakh-Chinese Fund ‘Eurasian’ Nurly (Bright) Investment Fund was signed, BNews.kz correspondent reports.
From Kazakhstan’s side the agreement was signed by Chairman of the Board of JSC National Management Holding Baiterek Aidar Arifkhanov, and from China’s side – General Director of CITIC Eurasian Capital Limited Xun Yan and President of the Chinese-Eurasian Fund of Economic Cooperation Lin Gan.
“The planned target amount of the Fund being created is up to 500 million US dollars. The main amount of investment will be directed to implement the projects on the territory of Kazakhstan in various sectors of the economy, including the development of infrastructure, processing of natural resources, logistics, information technologies, manufacturing industry and agro-industrial complex,” underlined Aidar Arifkhanov.
Kazakhstan’s partner in the implementation of the Agreement will be JSC Kazyna Capital Management – a subsidiary of the holding of Baiterek. Earlier, in June 7, 2017 Astana as part of the Summit of the Shanghai Cooperation Organization held the signing of the Memorandum of mutual understanding on the creation of an investment fund.
“The new fund Eurasian Nurly (Bright) Investment Fund will allow to attract into the economy of Kazakhstan investment from large institutional and private investors of china - CITIC Group, China Eurasian Economic Cooperation Fund, Asia Investment Finance Group Limited and others. The signing of the agreement is the result of our productive work on expanding sources of funding Kazakhstan’s projects,” said Deputy Chairman of the Board of JSC Kazyna Capital management Asset Sagimbekov.