Lithuanian Companies Show Interest in Implementing Projects in Kazakhstan
During the meeting of the Chairman of the Board of the National Company Meirzhan Yussupov with the President of the Confederation of Lithuanian Industrialists, the Chairman of the Board of the Global BOD Group Vidmantas Janulyavichus and the Director General of the Klaipeda Sea Port Authority Algis Latakas, the prospects for the development of investment relations between the two countries were discussed.
Vidmantas Janulyavichus noted that at the moment there is a need in the European Union to diversify the supply of critical raw materials (including rare earth elements). According to him, Lithuanian companies, in particular, are interested in the implementation of large joint projects for the production of cells for batteries and solar panels.
In turn, Algis Latakas emphasized that Lithuania has developed and modern logistics, storage and handling infrastructure, well-established logistics to Central, Northern and Western Europe and one of the largest truck fleets on the continent.
Chairman of the Board of “NC “KAZAKH INVEST” JSC Meirzhan Yussupov, talked about the measures of state support for investors, provided the Lithuanian side with investment proposals for innovative projects in the field of mining and metallurgical industry, mechanical engineering and transport and logistics industry.
The trade turnover between the Republic of Kazakhstan and the Republic of Lithuania in 2021 amounted to $453.9 million, and already in the first half of 2022 it reached $421.9 million.
The Confederation of Lithuanian Industrialists (hereinafter referred to as the Confederation of Lithuanian Industrialists), which has been functioning since March 1993, is the largest association of industry companies that represents the interests of industrial companies and employers. KPL unites 61 associations (56 sectoral, 5 regional) which include more than 3,000 medium and large enterprises representing various public and private companies. The total contribution to the GDP of Kazakhstan of all enterprises included in the KPL is 46%. Manufacturing companies that are members of the KPL produce 83% of the total volume of Lithuanian export products.
The port of Klaipeda is the most northern, multimodal, universal, deep-water ice-free port on the Eastern coast of the Baltic Sea. There are 15 large stevedore, ship repair and shipbuilding companies operating on its territory, providing a full range of services related to the maritime business and cargo handling. More than 800 economic entities are directly connected with the activities of the port of Klaipeda, which create over 23 thousand jobs and about 7% of the total GDP of Lithuania (taking into account the activities of all enterprises associated with the port - about 18%).