- Region: Asia
- Energy and Natural Resources
May 2, 2012
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed on May 1 a memorandum of understanding (MOU) for comprehensive strategic partnership with National Atomic Company Kazatomprom Joint Stock Company (Kazatomprom)*1in the Republic of Kazakhstan.
- The objective of the MOU is to exchange views and information with Kazatomprom on its investment plan and medium and long-term strategies, as well as on a broad range of finance facilities and schemes that JBIC can offer, in order to identify future candidate projects eligible for JBIC finance, and jointly develop rare earths and rare metals by Japanese companies and Kazatomprom.
- Kazakhstan has set its sights on advances and diversification in its industries by utilizing Japanese companies' technologies, thus moving forward stronger cooperative ties with Japan. For Japanese firms, they have a particularly high interest in the country's rare earth- and rare metal-related business areas. Stronger cooperative ties between JBIC and Kazatomprom through this MOU are expected to lay down the groundwork for Japanese business development in Kazakhstan and lead to development in the two countries' bilateral economic relations.
- JBIC will continue to support Japanese companies for creating business opportunities and promoting their business activities in Kazakhstan, thereby serving to bring further depth to close bilateral economic relations between Japan and Kazakhstan.
- *1 Kazatomprom is a joint stock company wholly owned by the Kazakhstan government. The company has been diversifying business into development and production of rare earths and rare metals in recent years.