Kazakhstan Looks to Boost Middle East Investment through the 7th World Islamic Economic Forum


Jan  16th

Kazakhstan looks to boost Middle East investment through the 7th World Islamic Economic Forum (WIEF)
Forum expected to attract world leaders and industry experts to discuss economic opportunities in the region

Abu Dhabi, 16 January 2011 – Kazakhstan is looking to strengthen partnerships and boost investments from the Middle East in key areas of its economy at the 7th WIEF to be held from 7-9 June 2011 at the Palace of Independence, Astana, Kazakhstan. With the theme ‘Globalizing Growth: Connect, Compete, Collaborate’, this year’s forum seeks to highlight the vast investment opportunities available in Kazakhstan and to forge stronger cross border partnerships between the Central Asian nation and the rest of the world, in particular, other Muslim nations.

Kazakhstan is the 9th largest country in the world with a GDP of USD 182 billion and population of 16 million. It is rich in minerals, in particular uranium, of which the country is the world’s leading exporter. With proven reserves, it also has the capacity to be the 10th largest oil and gas producing country in the world by 2015.

According to His Excellency, Aset Issekeshev, Deputy Prime Minister and Minister of Industry and New Technologies, Kazakhstan, “The 7th WIEF provides us with a platform to engage investors in the Middle East and the rest of the world with our Strategic 2020 initiative to diversify our economy. Kazakhstan also offers tremendous opportunities for investors seeking a gateway into the nascent economies of the Commonwealth of Independent States (CIS). The proximity of Astana, our capital to the Middle East (only 4 hours by air to Dubai) is also a strong plus point for investors from the region.”

Topics of discussion at the WIEF will include prospects for the expansion of the Halal food industry, Islamic banking, the future of alternative energy, empowering SMEs and introduction of innovative technologies, the increasing role of SMEs and social entrepreneurship. The Forum is expected to attract key Heads of State and Government to address their economic agenda, together with more than 2000 business leaders from around the world.

Tun Musa, Chairman of the WIEF Foundation added, “The 7th WIEF in Kazakhstan has extended the reach of the WIEF into the CIS region and will have huge implications on business dynamics in this part of the world. The WIEF has been an effective bridge for business wherever it has been held over the past 6 years in Southeast Asia, East Asia and the Middle East. It is most timely that the bridge has now come to Central Asia.”

In a drive to promote the 7th WIEF at Kazakhstan, the WIEF Foundation will embark on a series of media and corporate engagements over the next three months to selected countries including the UAE, Singapore, Turkey, Tunisia, Egypt, Bahrain, Russia and Azerbaijan. – See more at: http://wief.org/press-releases/16/#sthash.qfkxdJfm.dpuf