Chinese Conglomerate Genertec to Open Regional Office in Kazakhstan

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Genertec is a Chinese state-owned conglomerate covering engineering, machine building, pharmaceuticals, construction, and renewable energy areas, as well as technical consulting with an annual turnover of more than $25 billion.

Chinese Conglomerate Genertec to Open Regional Office in Kazakhstan

The Astana times – Vice President of the Genertec International Holdings Wu Yi announced plans to open a regional office in Kazakhstan to boost investment cooperation with the Commonwealth of Independent States (CIS) and the Central Asian countries at a meeting with Zhandos Temirgali, the deputy chair of the Kazakh Invest national company, reported the company’s press service on Aug. 17.

Genertec is a Chinese state-owned conglomerate covering engineering, machine building, pharmaceuticals, construction, and renewable energy areas, as well as technical consulting with an annual turnover of more than $25 billion.

During the meeting, the Chinese side emphasized the company’s intentions to expand the use of the Kazakh Invest platform to implement projects in relevant areas and expressed appreciation to Kazakhstan for the all-round support.

“We decided to open a regional representative office in Kazakhstan, as we are confident in the country. The constructive experience of working with Kazakh Invest is also an important factor. Our company holds a leading position in pharmaceuticals and healthcare in China and Southeast Asia. We are developing the mechanical engineering, mining, and renewable energy areas. We intend to use the Kazakh Invest platform more actively for the implementation of projects in Kazakhstan,” said Wu Yi.

Temirgali proposed more collaborative projects in transportation and logistics.

“We invite you to participate in the development of transport and logistics infrastructure and multimodal transportation roads connecting China with Europe and the Middle East,” said Temirgali.

Temirgali highlighted favorable investment conditions in Kazakhstan and the country’s readiness to develop export-oriented industries.

“Kazakhstan pays great attention to projects for the development of high-tech industries and the processing sector. Due to a favorable investment climate, the availability of natural resources and access to foreign markets, our country has ample opportunities to create new export-oriented industries,” he noted.