Penang-Kazakhstan To Explore Shared Values In Trade, Business, Tourism -- Wong

GEORGE TOWN, March 5 (Bernama) -- Penang and Kazakhstan continue to explore shared opportunities and values by expanding the cooperation in trade, business and tourism.

Penang Tourism and Creative Economy chairman Wong Hon Wai said the establishment of Honorary Consulate of the Republic of Kazakhstan in the state last October 2023 reflects the shared commitment to strengthening the ties between the two countries.

“Penang has long been a state that prides itself on its vibrant culture, its rich history and its growing prominence as both a key business hub and a tourist destination.

“We recognise the potential of forging stronger business links between Penang and Kazakhstan. Our state’s unique combination of modern infrastructure, strategic location, and commitment to sustainability makes it an ideal place for growth and development in industries ranging from technology to tourism,” he said in his keynote address at the Kazakhstan-Malaysia Business Forum here today.

At the same time, Wong said that the direct flights between Kuala Lumpur and Almaty, along with the ease of connections to Penang, make the state easily accessible to travelers and business investors from Kazakhstan.

“In essence, both Kazakhstan and Penang share a mutual commitment to growth, sustainability and cultural richness.

“While Kazakhstan’s economic transformation offers immense business potential in sectors such as energy, agriculture and technology, Penang's established position as a regional hub for manufacturing, tourism and the digital economy provides the perfect complementary environment for these efforts.

“Whether in tourism, trade, cultural exchange, or sustainability, both regions can strengthen their ties by leveraging these shared strengths,” he added.

The Honorary Consulate of the Republic of Kazakhstan in Penang has hosted a business forum entitled “Discover the Heart of Eurasia” supported by the Embassy of the Republic of Kazakhstan to Malaysia.

It gathered key industry players from Kazakhstan and Malaysia to explore the vast new market and business in various sectors such as development, manufacturing, tourism, mineral and mining, education and other investments. 

Meanwhile, the Ambassador of the Republic of Kazakhstan to Malaysia Bulat Sugurbayev said that the trade relationship between Malaysia and Kazakhstan has shown a robust recovery following the pandemic.

He said that this year, they are introducing additional business opportunities in Kazakhstan for key Malaysian industry players to explore, thereby enhancing the economic ties between two nations.

“At Kazakhstan, we have a vast market and wide range of attractive business investment opportunities to offer that would potentially bring high return on investment to foreign investors, driven by our resource-rich economy, strategic location, and investor-friendly policies,” he added.

The Honorary Consul of the Republic of Kazakhstan Datuk Louis Ng said Malaysian investors can capitalise on Kazakhstan’s growing sectors, such as mineral and mining, technology and development, manufacturing, tourism and education, leveraging expertise to drive profitable growth and expand into Central Asia’s emerging markets.

He also emphasised Kazakhstan’s immense mineral wealth, highlighting its vast reserves of gold, iron ore and rare earth metals. 

“This presents a promising investment opportunity for Malaysian gold and jewellery industry players looking to expand their ventures.

“Additionally, Kazakhstan ranks among the world’s top producers of key minerals such as uranium, chromium, zinc, lead, and copper, further enhancing its appeal as a strategic investment destination,” he added.

-- BERNAMA