Over 50 international companies move their business from Russia to Kazakhstan

Over 50 international companies have moved from Russia to Kazakhstan, President of Kazakhstan Kassym-Jomart Tokayev said on Wednesday at a meeting with the Almaty public.

"Currently, more than 50 international companies from Russia have relocated to Kazakhstan. It is unproductive to concentrate them all in large cities. The Akimat (administration) needs to work out the placement of such industries near Almaty along the perimeter of the Big Almaty Ring Road, which will significantly help the region's economy. Discuss this issue with the government and companies," he said.

According to him, the regional center should become a 'counter magnet' in relation to Almaty. "We must create all conditions for investors to open new production facilities, including those relocating from other countries. This issue needs to be worked out already now in order to ensure unhindered and uninterrupted trade with foreign partners," the head of state said, as quoted by his press service.

Later, at a briefing for journalists, Kazakh Prime Minister Alikhan Smailov said that many foreign companies were leaving Russia. "We have compiled a list of more than 300 of such major foreign companies. We have worked with them to inform about the possibilities of their activities in Kazakhstan. To date, 56 of these companies have expressed a desire to relocate their offices to Kazakhstan. Some companies have already made a positive decision and have virtually relocated," he said, citing, in particular, Indriver and Honeywell.