French Companies to Invest €1.5 Billion in Kazakhstan Over Three Years, Creating More Than 1,000 Jobs

French companies operating in Kazakhstan plan to invest €1.5 billion and create more than 1,000 jobs over the next three years. The figures come from a study presented by the French embassy in Astana on 22 October.

According to the study, conducted between March and June 2024 on the basis of responses from 26 French and Franco-Kazakhstani companies, France's cumulative direct investment in Kazakhstan has exceeded €12 billion. Bilateral trade turnover surpassed €5 billion in 2023. The combined annual turnover of the companies that participated in the study exceeded €2 billion, with the bulk coming from the manufacturing sector. Over the past decade, the participating companies have invested approximately €2.5 billion in Kazakhstan.

More than 80% of respondents are large enterprises, and 42% carry out manufacturing activities in the country. More than 42% export products from Kazakhstan, 38% regard the country as their main operational hub in Central Asia, and a further 25% use it to coordinate activities in the Caucasus.

France's Ambassador to Kazakhstan, Sylvain Guiog, said at the presentation that "French companies come to Kazakhstan with a long-term perspective." According to him, they invest in the construction of new factories, create jobs, and train young specialists, thereby contributing to the diversification of Kazakhstan's industrial base.

The embassy's head of economic affairs, Ludovic Le, noted that French companies operate across all 17 regions of Kazakhstan and use the country's production capacities to access new markets, thereby supporting the diversification of Kazakhstani exports. The Trans-Caspian International Transport Route (Middle Corridor), which links Kazakhstan and Central Asia to European markets, is helping to expand this role.