Kazakhstan Ministry of Foreign Affairs, in a release on 21 October 2024, announced that officials from Kazakhstan and Kuwait met to discuss investment relations and establish an income tax treaty on the avoidance of double taxation.
Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Alibek Kuantyrov and Managing Director of JSC “NC “Kazakh Invest” Azamat Kozhanov met with Chairman of the Board of Directors of “Kuwait Investment Company”, Yousef Mohammad Al-Ali.
During the meeting, Kuantyrov expressed Kazakhstan’s readiness to deepen investment relations with Kuwait, including through the signing of a bilateral investment cooperation agreement and a convention on the avoidance of double taxation.
The Deputy Minister also highlighted Kazakhstan’s investment climate, government support measures, and particularly emphasised the investment potential in the education and healthcare sectors.
Yousef Mohammad Al-Ali expressed strong interest in expanding investment cooperation with Kazakhstan, noting the importance of sustainable development in key sectors such as education and healthcare for the long-term economic growth of the country. He emphasised that the Kuwait Investment Company places a high priority on social projects that improve the quality of life and strengthen human capital.
If an agreement is reached, it will be the first between the two nations and must be finalised, signed, and ratified before it can take effect.
