French investors consider green hydrogen production in Kazakhstan

Kazakhstan’s new economic course was presented to French investors. Presently, more than 170 companies with the French capital operate in the country. France has invested about US$18 billion in the economy of Kazakhstan. During a meeting, it was noted that these investments are protected by the state.

“The introduction of a new tax policy for large enterprises should eliminate favoritism, guarantee transparency and be clear to enterprises and the government,” said Jean Galiyev, Kazakh Ambassador to France.

“We are thankful to Ambassador Galiev, who informed us on how the business climate will develop, administrative procedures be simplified and foreign investments be protected. All this is great, and we expect faster improvements in the business environment that will motivate French companies to invest in local production,” added Guy Sidos, CEO of a group of companies.

In addition, the heads of French companies talked about the projects they intend to implement in Kazakhstan. In particular, they discussed the possibility of producing "green" hydrogen, improving environmental standards of enterprises and focusing on processing.

“The Kazakh side presented its policy, reassured us on controversial issues, and we somehow quickly moved on from discussing the key topic of this meeting to the projects. There were issues related to the implementation of future projects.The French investors are still ready, with the same will and desire, to continue cooperation with Kazakhstan,” noted Yves-Louis Darricarrere, Co-Chairman of the Kazakh-French Business Council.

 

Translation by Aruzhan Bizhigitova

Editing by Saule Mukhamejanova