Latest news with #Samruk-Kazyna
Euronews
25-07-2025
- Business
- Euronews
Kazakhstan is drawing foreign direct investment, even as global FDI flows slow. Here's how:
Kazakhstan is attracting foreign direct investment despite a slowdown in global and domestic flows. In 2024, FDI dropped nearly 30% to 14.5 billion euros, according to the UN Conference on Trade. Authorities say the decline reflects a cyclical shift from investment to returns, not waning confidence. Kazakhstan secured four of Central Asia's five largest greenfield projects, totalling 6 billion euros. Its sovereign wealth fund, Samruk-Kazyna, plays a central role, executing over 130 projects worth 87 billion euros. Since independence in 1991, Kazakhstan has drawn nearly 130 billion euros in FDI, making it the region's leading investment hub.
Mid East Info
13-05-2025
- Business
- Mid East Info
Crown Prince of Abu Dhabi and President of Kazakhstan Witness Masdar Agreement to Develop Renewable Energy Projects
Masdar signs collaboration agreement with Samruk-Kazyna during official visit of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan to Kazakhstan The agreement will support the development of '24/7' project providing up to 500MW of baseload renewable energy and battery energy storage projects with up to 2GW capacity UAE and Kazakhstan Energy Ministers also exchanged documents recognizing ratification of government agreement on development of Masdar's 1GW wind farm in Central Asian nation Astana, Kazakhstan – May, 2025: His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, and His Excellency Kassym-Jomart Tokayev, President of the Republic of Kazakhstan, witnessed a collaboration agreement between Abu Dhabi Future Energy Company PJSC – Masdar and Samruk-Kazyna JSC, related to the development of renewable energy and battery energy storage system (BESS) projects in Kazakhstan. His Excellency Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, and Nurlan Zhakupov, Chief Executive Officer of Samruk-Kazyna, exchanged documents related to the collaboration agreement during the Kazakhstan-UAE Business Forum. Under the agreement, Masdar, the UAE's clean energy leader, and Samruk-Kazyna, Kazakhstan's sovereign wealth fund, will explore the development of a '24/7' project that will provide up to 500 megawatts (MW) of baseload renewable energy, and BESS projects with up to 2 gigawatts (GW) capacity. Masdar is currently developing a 1GW wind farm with a 600-megawatt-hour (MWh) BESS in Kazakhstan, set to be one of the largest wind projects in the region. HE Suhail Al Mazrouei, UAE Minister of Energy and Infrastructure, and HE Yerlan Akkenzhenov, Minister of Energy for Kazakhstan, also exchanged documents related to the ratification of the Intergovernmental Agreement (IGA) signed at COP28 in 2023 for the development of the 1GW wind project. This marks a significant milestone toward the project's implementation. HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Masdar Chairman, said: 'This agreement builds on the already strong energy partnership between our two countries and will support Kazakhstan's ambitious renewable energy objectives. By leveraging Masdar's expertise in renewables and battery storage technology, Kazakhstan will be able to address today's energy needs while creating new jobs, stimulating its economy and preparing for the growing demands of tomorrow. We look forward to working closely with Samruk-Kazyna and the Government of Kazakhstan to deliver sustainable, secure energy and drive socioeconomic progress.' Nurlan Zhakupov, CEO of Samruk-Kazyna, said: 'In line with President Tokayev's objective of reaching carbon neutrality by 2060, Samruk-Kazyna is strengthening its efforts in low-carbon development, including through partnerships with leading international companies such as Masdar. This agreement represents a step forward toward increasing the share of renewable energy in Kazakhstan's energy mix, using advanced technologies to support a more sustainable and resilient energy future.' Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said: 'Kazakhstan is a key strategic partner for Masdar and today's agreement further strengthens our presence in the country, building on the strong collaboration established through our existing 1GW wind and battery storage project in the Jambyl region. This agreement also strengthens our partnership with Samruk-Kazyna and we will continue to work closely together to support energy security, economic diversification and climate action.' Kazakhstan is targeting generating 15 percent of electricity from renewable energy sources by 2030 and 50 percent by 2050. Masdar signed an agreement at COP28 with W Solar, Qazaq Green Power QGP, a Samruk-Kazyna Group company, and the Kazakhstan Investment Development Fund to develop and implement the 1GW wind project. The power purchase agreement and the investment agreement for the project were signed at COP29 in Baku last year, with construction expected to begin in 2026. Masdar announced a significant advance in battery storage technology this year, with the launch at Abu Dhabi Sustainability Week (ADSW) of the world's first gigascale 24/7 solar and battery storage project. Located in Abu Dhabi, the project will feature a 5.2GW (DC) solar photovoltaic (PV) plant, coupled with a 19 gigawatt-hour (GWh) BESS to deliver up to 1GW baseload power every day – the largest combined solar and BESS project in the world. With abundant solar and wind resources, Central Asia is a key strategic region for Masdar. Beyond its footprint in Kazakhstan, the company has an active presence across the region, including Uzbekistan and Azerbaijan. Masdar is targeting a 100GW global portfolio capacity by 2030.
Time of India
13-05-2025
- Business
- Time of India
Eurasia-Asia bonding: Kazakhstan signs strategic partnership with Vietnam; expands ties with UAE
Kazakhstan and Vietnam, key players in their respective regions, have officially upgraded their bilateral relationship to a strategic partnership , to deepen cooperation across a range of sectors. The joint statement establishing the strategic partnership was signed during a state visit by General Secretary of the Communist Party of Vietnam, To Lam, and President of Kazakhstan, Kassym-Jomart Tokayev. The agreement highlights a mutual commitment to closer collaboration in diplomacy, economics, and cultural exchange. In addition to the joint statement, both sides signed several memoranda of cooperation covering key areas such as technology, innovation, digital transformation, culture, and sports. These agreements include cultural and sports cooperation programs for the period 2025–2027 and a twinning initiative between Kazakhstan's Kyzylorda region and Vietnam's Hung Yen province to foster local-level engagement. Economically, the countries finalized a notable transaction involving the sale of shares in Qazaq Air between Kazakhstan's sovereign wealth fund, Samruk-Kazyna, and Vietnam's Sovico Group. In the energy sector, KazMunayGas and Petrovietnam Exploration Production agreed to cooperate on geological exploration projects, opening doors for joint ventures in resource development. Simultaneously, Kazakhstan and UAE also expanded their partnership. President Kassym-Jomart Tokayev welcomed the signing of more than 20 commercial agreements worth $5 billion during the official visit of the Crown Prince of Abu Dhabi Sheikh Khaled bin Mohamed bin Zayed Al Nahyan to Kazakhstan on May 12. During the negotiations, President Tokayev emphasized that the United Arab Emirates (UAE) is one of Kazakhstan's main partners, sharing common goals and aspirations. In 2023, both governments signed a Joint Declaration on strategic investment projects, and the inflow of direct investment from the UAE in 2024 more than doubled. Crown Prince Al Nahyan noted that bilateral ties now go beyond trade and investment, covering various areas from energy and transport to digital infrastructure and education. Abu Dhabi Future Energy Company PJSC – Masdar and Samruk Kazyna Sovereign Wealth Fund signed collaboration agreement related to the development of renewable energy and battery energy storage system (BESS) projects in Kazakhstan during the official visit of the Crown Prince of Abu Dhabi Sheikh Khaled bin Mohamed bin Zayed Al Nahyan to Kazakhstan on May 12. Kazakhstan aims to generate 15% of electricity from renewable energy sources by 2030 and 50% by 2050. Masdar signed an agreement at COP28 with W Solar, Qazaq Green Power QGP, a Samruk Kazyna Group company, and the Kazakhstan Investment Development Fund to develop and implement the one gigawatt (GW) wind project. The power purchase agreement and the investment agreement for the project were signed at COP29 in Baku last year, with construction expected to begin in 2026.
Mid East Info
15-02-2025
- Business
- Mid East Info
City of Astana partners with Presight for AI-powered smart city project - Middle East Business News and Information
· The Astana smart city project will deliver community-wide benefits from reduced traffic and congestion to faster emergency response times. · Kazakhstani companies will be responsible for 60% of the total project scope, which will be managed, implemented and resourced with a local Kazakhstan-based workforce. · The Astana smart city project follows other Presight projects with Kazakhstan's Ministry of Digital Development, Samruk-Kazyna and Astana Hub. · Presight expands its Astana office as it grows presence in Kazakhstan and the wider Central Asia region. Astana, Kazakhstan – February, 2025 – Presight, a leading global big data analytics and applied intelligence company, has signed a USD $190 million, six-year agreement with the Akimat (municipal government) of the City of Astana to deploy an AI-powered smart city project to digitize urban infrastructure, enhance traffic management, and modernize public services. The Astana smart city project will deliver community-wide benefits from reduced traffic and congestion to faster emergency response times. The AI-powered nation-building project is designed to enhance Astana's liveability, sustainability, citizen services, and digital transformation agenda. It will see the introduction of sensors and IoT-enabled infrastructure to create a digital twin of the city, which will improve liveability, safety and community wellbeing. Kazakhstani companies will be responsible for 60 percent of the total project scope of the smart city project, ensuring that jobs, in-country value creation and investment remains in Kazakhstan. The smart city project closely follows other major announcements for Presight in Kazakhstan. In 2024, the Kazakhstan Ministry of Digital Development, in collaboration with Samruk-Kazyna, the Sovereign Wealth Fund of Kazakhstan, appointed Presight to develop a state-of-the-art AI supercomputer and data center cluster to enable the country's digital transformation initiatives. In 2023, Presight also partnered with Astana Hub, the largest international technology park for IT startups in Central Asia, to power venture financing deals for startups. To complement the Astana smart city project and Presight's other nation-building initiatives in Kazakhstan, Presight today also announced the expansion of its Astana office to better service in-country projects as it grows operations in Kazakhstan and the wider Central Asia region. Thomas Pramotedham, Chief Executive Officer of Presight, commented: 'We congratulate the City of Astana for being a global leader in the adoption of world-leading AI for smart city applications. The Astana smart city project aims to develop an ecosystem powered by AI-driven video analytics, enhancing urban management, traffic optimization, and public safety. By integrating advanced monitoring infrastructure and intelligent vision systems, the initiative will provide real-time insights to improve city operations and situational awareness. 'A key component includes AI-powered traffic management solutions designed to enhance road safety and streamline mobility. Additionally, existing visual data sources will be unified into a real-time digital twin of the city, enabling predictive analytics and faster response times to incidents. This initiative underscores a commitment to leverage AI and data-driven solutions for more efficient, secure, and sustainable urban development.' Through the responsible and ethical implementation of AI-driven solutions, citizens of Astana will experience improved public services, digitized infrastructure, enhanced healthcare access, and safer, more efficient urban environments . Presight is committed to developing AI solutions that enhance communities while upholding privacy and security. This project aligns with the City of Astana's digital transformation goals and ensures AI is used ethically and transparently to deliver tangible benefits to citizens . About Presight: Presight is an ADX-listed public company with Abu Dhabi based G42 as its majority shareholder and is the region's leading big data analytics company powered by GenAI. It combines big data, analytics, and AI expertise to serve every sector, of every scale, to create business and positive societal impact. Presight excels at all-source data interpretation to support insight-driven decision-making that shapes policy and creates safer, healthier, happier, and more sustainable societies. Today, through its range of GenAI-driven products and solutions, Presight is bringing Applied AI to the private and public sector, enabling them to realize their AI strategy and ambitions faster.
Zawya
15-02-2025
- Business
- Zawya
City of Astana partners with Presight for AI-powered smart city project
Kazakhstani companies will be responsible for 60% of the total project scope, which will be managed, implemented and resourced with a local Kazakhstan-based workforce. The Astana smart city project follows other Presight projects with Kazakhstan's Ministry of Digital Development, Samruk-Kazyna and Astana Hub. Presight expands its Astana office as it grows presence in Kazakhstan and the wider Central Asia region. Astana, Kazakhstan – Presight, a leading global big data analytics and applied intelligence company, has signed a USD $190 million, six-year agreement with the Akimat (municipal government) of the City of Astana to deploy an AI-powered smart city project to digitize urban infrastructure, enhance traffic management, and modernize public services. The Astana smart city project will deliver community-wide benefits from reduced traffic and congestion to faster emergency response times. The AI-powered nation-building project is designed to enhance Astana's liveability, sustainability, citizen services, and digital transformation agenda. It will see the introduction of sensors and IoT-enabled infrastructure to create a digital twin of the city, which will improve liveability, safety and community wellbeing. Kazakhstani companies will be responsible for 60 percent of the total project scope of the smart city project, ensuring that jobs, in-country value creation and investment remains in Kazakhstan. The smart city project closely follows other major announcements for Presight in Kazakhstan. In 2024, the Kazakhstan Ministry of Digital Development, in collaboration with Samruk-Kazyna, the Sovereign Wealth Fund of Kazakhstan, appointed Presight to develop a state-of-the-art AI supercomputer and data center cluster to enable the country's digital transformation initiatives. In 2023, Presight also partnered with Astana Hub, the largest international technology park for IT startups in Central Asia, to power venture financing deals for startups. To complement the Astana smart city project and Presight's other nation-building initiatives in Kazakhstan, Presight today also announced the expansion of its Astana office to better service in-country projects as it grows operations in Kazakhstan and the wider Central Asia region. Thomas Pramotedham, Chief Executive Officer of Presight, commented: 'We congratulate the City of Astana for being a global leader in the adoption of world-leading AI for smart city applications. The Astana smart city project aims to develop an ecosystem powered by AI-driven video analytics, enhancing urban management, traffic optimization, and public safety. By integrating advanced monitoring infrastructure and intelligent vision systems, the initiative will provide real-time insights to improve city operations and situational awareness. 'A key component includes AI-powered traffic management solutions designed to enhance road safety and streamline mobility. Additionally, existing visual data sources will be unified into a real-time digital twin of the city, enabling predictive analytics and faster response times to incidents. This initiative underscores a commitment to leverage AI and data-driven solutions for more efficient, secure, and sustainable urban development.' Through the responsible and ethical implementation of AI-driven solutions, citizens of Astana will experience improved public services, digitized infrastructure, enhanced healthcare access, and safer, more efficient urban environments. Presight is committed to developing AI solutions that enhance communities while upholding privacy and security. This project aligns with the City of Astana's digital transformation goals and ensures AI is used ethically and transparently to deliver tangible benefits to citizens. -Ends- About Presight Presight is an ADX-listed public company with Abu Dhabi based G42 as its majority shareholder and is the region's leading big data analytics company powered by GenAI. It combines big data, analytics, and AI expertise to serve every sector, of every scale, to create business and positive societal impact. Presight excels at all-source data interpretation to support insight-driven decision-making that shapes policy and creates safer, healthier, happier, and more sustainable societies. Today, through its range of GenAI-driven products and solutions, Presight is bringing Applied AI to the private and public sector, enabling them to realize their AI strategy and ambitions faster. For further information, please contact Presight@ or media@
