Baku. TurkicWorld:

Kazakhstan's Sovereign Wealth Fund, Samruk-Kazyna, and the Italian Cassa Depositi i Prestiti have signed an agreement on the creation of a joint investment fund, TurkicWorld reports.

The relevant agreement was signed within President Kassym-Jomart Tokayev’s visit to Italy.

The collaboration between Samruk-Kazyna and the Italian conglomerate includes the creation of a joint investment fund with a focus on investing in the sectors of manufacturing, energy, and logistics.

The sides noted that Kazakhstan stands as Italy's primary economic partner in Central Asia, while Italy is the largest trading partner for Kazakhstan within the EU and one of the leading investors in the Kazakhstani economy.

Meanwhile, currently, over 300 Italian companies are successfully operating in the country, including major investors like Eni, SDF Group, PetroValves, Maire Tecnimont, IVECO, Tenaris, and others.

Italy consistently ranks within the top five largest EU investors in the Kazakhstani economy. The cumulative inflow of investments over the past 17 years has surged to $7.3 billion. By the end of last year, their volume witnessed an almost 2.5-fold increase, totaling around $300 million.