RIYADH: Kazakhstan is seeking greater Saudi investment in renewable energy, infrastructure and a major new smart city development, as the two countries look to expand economic cooperation, officials said at a roundtable in Riyadh on Thursday.

“I’m confident that with the continued support of our two leaders, Saudi-Kazakh relations will reach even greater heights bringing prosperity and mutual benefits to both friendly countries,” Ahmed Al-Dakheel, chairman of the Saudi-Kazakh Business Council, said in his opening remarks at the event.

The roundtable was hosted by Kazakhstan’s Ambassador to Saudi Arabia Madiyar Menilbekov to discuss President Kassym-Jomart Tokayev’s 2026 State of the Nation Address delivered on Oct. 28.

It brought together diplomats, business leaders, religious figures and specialists in sectors like energy, education and culture. 

Abdulwahab Al-Shehri, assistant to the secretary-general of the Muslim World League, was among the guests.

The meeting looked at new ways to grow partnerships as Kazakhstan marks 35 years of independence and rolls out a major national plan.

Menilbekov said that Kazakhstan’s gross domestic product was expected to grow to about $400 billion this year. He added that the national plan included about 70 healthcare facilities and 50 educational, sports and cultural facilities, as well as improvements in access to gas and clean drinking water.

“For Saudi investors in Kazakhstan, we are still at the beginning of accomplishing large projects and renewable energy has a special priority,” he said. 

He also spoke about Alatau City, a smart city development spanning 88,000 hectares, being built between Almaty and Qonaev.

“There is a high-level government delegation making visits to multiple countries to attract investors to this city and we hope, we look forward to the participation of Saudi investors in this city, infrastructure, energy projects, roads and tourist facilities,” Menilbekov said.  

Al-Dakheel told Arab News that the outlook was “promising … as Kazakhstan is rich in very large investment opportunities.”

At the forefront of the joint investment opportunities were “renewable energy, mining exploration, mineral extraction, in addition to very many opportunities in infrastructure, real estate and development.”

Food security also offered a “great opportunity for cooperation,” he said.

“What remains is the establishment of investment incentives for Saudi investors who are, of course, targeting these investments and these sectors.”

On the flip side, Al-Dakheel said that 42 Kazakhstani companies had already invested in the Kingdom.

“They came to the Kingdom and invested in the construction sector, the oil and gas sector, the infrastructure sector and the contracting sector … as well as the technology sector.

“We began establishing the Saudi-Kazakh Business Council approximately three years ago and we have made very major and serious strides in developing relations and attracting investors from both countries.”

The council was working to showcase investment opportunities in Kazakhstan for Saudi investors and within the Kingdom for Kazakh investors, he said.

Al-Shehri said that relations between the Muslim World League and Kazakhstan “started years ago.”

“What brings the Muslim World League and the Republic of Kazakhstan together goes beyond participation in conferences and events,” he said.

“It expresses a shared conviction that dialogue is a shared responsibility among everyone and that peace is not achieved through slogans, conferences and seminars but rather requires institutional partnerships and practical initiatives that effectively contribute to our work, building the structure of peace.

“We look forward to continuing this cooperation and continuing to build these programs and partnerships and benefiting from the growing role of the Republic of Kazakhstan as an important platform for dialogue between religions and cultures.”