On September 16, 2020, Director-General of IOFS Mr. Yerlan Baidaulet and CEO of the JSC "National company 'Kazakh Invest' Mr. Baurzhan Sartbayev signed Memorandum of Understanding. The two parties agreed to take their cooperation further by elaborating a Road Map for the programmes' implementation.
The Memorandum aims to promote cooperation and other forms of joint participation in financial assistance for food security and the development of agribusiness projects in countries of mutual interest, as well as in cases where emergency and humanitarian assistance are needed. Special attention will be given to leverage the use of the investment operations to support sustainable agricultural development, with a focus on the agroindustry and agro-technology via IFPA.
During the meeting, IOFS and 'Kazakh Invest' discussed the possibilities of enhancing partnership towards common goals and networking with other international, national, and state organizations in the agricultural domain.
Such a scheme of close cooperation between IOFS and a hosting member country represented by a major investment promotion agency in a local food sector would be replicated in other member countries.
Moreover, parties agreed to include joint programs such as Grain Fund, Gene Bank, Water Management, Center of Excellence and others in the Road Map.For reference: JSC National company "Kazakh Invest" was created following the decree of the Government of the Republic of Kazakhstan to promote sustainable socio-economic development of the Republic of Kazakhstan by attracting foreign investment into focal areas of the economy and providing comprehensive support of investment projects.