Kazakhstan holds great potential for Vietnamese investors

He said Kazakhstan has opened its border entirely to Russia and Belarus, and with the free trade agreement between Vietnam and the Eurasia Economic Alliance (EAEU), Vietnamese goods can go through Kazakh to neighbouring East European countries. 

The ambassador also stressed that the country is undertaking economic reform while offering incentive policies to foreign firms. 

Kazakhstan is rich in oil and gas, and recently the country is looking to diversify its economy to reduce its dependence on oil industry. The focus is put on metallurgy, chemicals, pharmaceuticals, machinery manufacturing, light industry, tourism, information and communication technology, and energy.

Lying on the corridor connecting Europe and Asia, Kazakhstan has seven railway routes connecting China, Southeast Asia to Russia, Europe and Turkey, making Kazakhstan a great place for moving goods between Europe and Asia.

Trade between Vietnam and Kazakhstan has been expanding in recent years but the scale is still modest compared with potential, according to Vietnam’s Ambassador to Kazakhstan Doan Thi Xuan Hien.

The Vietnamese Embassy in Kazakhstan is assisting several companies such as Interserco and Viettel in studying the market in Kazakhstan and Central Asia. 

Vietnam will attend the world largest international fair EXPO 2017 in Kazakhstan’s capital city of Astana.

The Vietnam area includes a Vietnam House and a commercial space where Vietnamese enterprises can display their products. 

This is an opportunity for Vietnamese companies to seek contracts with partners from Kazakhstan as well as around the world.

According to the Kazakhstan Embassy in Vietnam, two-way trade value grew from 44 million USD in 2010 to 162 million USD in 2015.