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Jess Ma

Hong Kong firms could look to Kazakhstan as a base for advanced manufacturing and as a gateway to Europe, while the city’s robust capital markets could attract businesses in the Central Asian country, a diplomat and business adviser has said.
Sabr Yessimbekov, adviser to the chairman of the presidium of the National Chamber of Entrepreneurs of the Republic of Kazakhstan, told the South China Morning Post on the sidelines of the inaugural China Conference: Central Asia 2026 that some projects in MOUs signed during Chief Executive John Lee Ka-chiu’s trip to Kazakhstan in June had already got under way.
“We are talking about processing of raw materials and industrial production. There are some companies from Hong Kong and they have already started investing,” he said on Monday.
The firms included tungsten miner Jiaxin International Resources, which became the first company to be dual-listed on Hong Kong and Astana’s bourses last year.
In June, Lee led a 70-strong business and professional delegation from Hong Kong and mainland China to Kazakhstan and Uzbekistan to establish new trade corridors amid global geopolitical tensions, resulting in 96 agreements worth US$1.65 billion.
On Monday, Lee said during a virtual appearance at the conference that a bank in that delegation had since backed the Development Bank of Kazakhstan with US$785 million in financing.
Kazakhstan’s national rail operator, KTZ, had also filed to list in Hong Kong, while a local family office had signed an agreement with the Central Asian country’s authorities to strengthen cooperation in sustainable energy, he added.
Yessimbekov noted that the successful dual-listing of Jiaxin had also boosted Kazakh firms’ interest in listing on the Hong Kong stock exchange. To his knowledge, some private investment funds from the Central Asian state were also starting to explore the city’s capital markets.
“Now they understand, so they have a taste for the Hong Kong market, and everybody understands that it’s very well-connected to mainland China,” Yessimbekov explained, adding that the city’s connections with the rest of the world were also part of its appeal to Kazakh businesses.
The adviser, who is also a career diplomat, said Chinese business interest in his country had surged after China and five countries in Central Asia – Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan – signed a multilateral treaty last year.
“The main change is that international businesses are no longer discussing why Central Asia, but rather which specific projects can be implemented here?” Yessimbekov said.
He added that Kazakhstan could serve as a platform for manufacturing, the processing of raw materials, logistics, technology and as a gateway to other markets.
However, Kazakh businesses were also looking to develop joint production operations with international partners, rather than passively receiving investment.
“Kazakhstan’s business mission is to move along this production chain,” Yessimbekov said.

For the resource-rich state, the aim was to move beyond mining to processing its raw materials – oil and gas, minerals, rare earths and other metals such as copper, titanium and uranium – into usable components, and manufacturing finished products for export.
The role of Hong Kong in this process, according to Yessimbekov, will be to facilitate the building of industrial plants, materials production and exports to both China and Europe via the city’s expertise in financing and its access to the mainland market.
“Hong Kong can act as a financial and professional bridge between Central Asia, mainland China and international capital markets,” the adviser said.
The business opportunities Hong Kong presented to Kazakhstan were also bolstered by the city’s links with the mainland, he added.
“So, in broader terms, China can be the market and industrial partner, Hong Kong is a financial and professional connector, and Kazakhstan is a production and a regional platform,” Yessimbekov said.


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Sabr Yessimbekov says some projects in MOUs signed between Kazakhstan and Hong Kong-mainland China delegation in June already under way


Sabr Yessimbekov says some projects in MOUs signed between Kazakhstan and Hong Kong-mainland China delegation in June already under way.


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Kazakhstan

China

Hong Kong a boon to Kazakhstan’s advanced manufacturing ambitions, ties to Europe: expert

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Sabr Yessimbekov says some projects in MOUs signed between Kazakhstan and Hong Kong-mainland China delegation in June already under way

Sabr Yessimbekov says some projects in MOUs signed between Kazakhstan and Hong Kong-mainland China delegation in June already under way