Roundtable with the Business Community of Singapore

On April 24, 2025, with the support of the Embassy of the Republic of Kazakhstan in the Republic of Singapore, a meeting between representatives of the business communities of Kazakhstan and Singapore was held at the Regional Office of the Atameken National Chamber of Entrepreneurs in Almaty. The Singaporean delegation was led by Ms. Samantha Teo, Executive Director for International Business at the Singapore Business Federation (SBF).

For reference: The Singapore Business Federation (SBF) is the apex business chamber in Singapore, representing over 30,000 companies as well as key local and foreign business chambers. Established in 2001 to advocate for the interests of the Singapore business community, the SBF focuses on trade, industry, and investment. Its activities include organizing a wide range of events, training programs, and seminars to support business growth and sustainability.

The Singaporean delegation included leading companies in education, engineering and construction, logistics, digital marketing, communications and design, aerospace, as well as the manufacturing and distribution of laboratory and biopharmaceutical equipment. Notable participants included “Smartli,” “Jurong Cold Store,” “Geopost Southeast Asia,” “Flare Dynamics,” “Kingsmen Exhibits,” “Enterprise Singapore,” “Auxilio Studio,” “Speco Singapore,” “LKP Engineering,” “Esco Lifesciences Group,” “Silver Dragon Resources Singapore,” “One Good Nation,” “I Can Read,” “Anu Shroff Pte Ltd,” “BIPO Service,” and “The Global Citizen.”

According to the moderator of the event, Serik Amirov, Singapore is Kazakhstan’s largest trade and investment partner in the ASEAN region. Official data shows that in 2023, bilateral trade reached USD 1.8 billion, and foreign direct investment from Singapore into Kazakhstan exceeded USD 457.5 million. In the first ten months of 2024 alone, trade between the two countries amounted to USD 805.8 million. Notably, in the first half of 2024, direct investment from Singapore reached USD 555.6 million — a 119% increase compared to the same period in 2023. Over the past ten years, the total volume of direct investment from Singapore has amounted to approximately USD 2.2 billion.

The Agreement between Kazakhstan and Singapore on Trade in Services and Investment, which came into force on March 1, 2025, is expected to further strengthen bilateral economic ties.

Today, 162 joint Kazakhstan–Singapore enterprises operate in various sectors, including manufacturing, IT, construction, finance, and more.

Notable examples include:

• The Singaporean company “Surbana Jurong” developed the master plan for the “Alatau City” project in the Almaty region.

• There is significant partnership potential between Kazakhstan Temir Zholy and PSA International in the development of the Trans-Caspian International Transport Route.

• “International Cement Group” has successfully implemented cement plant construction projects in the Almaty and Abai regions.

• “Food Empire,” a leading food industry company, invested in the construction of a soluble coffee plant within the “Khorgos – Eastern Gate” Special Economic Zone in the Zhetysu region.

• “Gateway Ventures” is actively involved in Kazakhstan’s oil and gas sector.

• “Kingsmen Exhibits” is developing a Science Museum for children in Almaty, Kazakhstan.

During the meeting, Atameken presented its support mechanisms for establishing business connections, and attracting investment and technology from Singapore to Kazakhstan. It also expressed hope that close cooperation with the Singapore Business Federation would allow Kazakhstani companies to expand their presence in the Southeast Asian market.

Preliminary agreements were reached during the B2B meetings between Kazakhstani and Singaporean companies for future cooperation and joint project implementation.

Such meetings, supported by Atameken, serve as a “Business Junction” platform and make a practical contribution to expanding Kazakhstan’s international trade and economic cooperation.