Kazakhstan oil fund to invest millions in Israel

The principle investment will be in the Peace Valley project shared by Israel, Jordan and the Palestinians.

Vice Premier Shimon Peres and Kazakhstan Deputy Prime Minister Karim Masimov jointly said in Jerusalem today that the Kazakhstan oil fund would invest millions in economic projects in Israel. and in the Middle East. The principle investment will be in the Peace Valley project shared by Israel, Jordan and the Palestinians.

Masimov said "I came to Israel with a clear message to the nation in Zion from the president, that Kazakhstan is a moderate Muslim state which is interested in being involved in the Middle East. Kazakhstan intends to found political and economic ties with Israel and its neighbors."

Masimov expressed interest in collaboration on the Red-Dead Sea canal project, and in establishing a free trade industrial zone. The two agreed to create two schools for modern agriculture, one in Kazakhstan and on in Israel.

Israeli VC fund, Vertex, announced today that the Kazakhstan government's National Innovation Fund had invested $10 million in Vertex's third fund in two stages.

Published by Globes [online], Israel business news - www.globes.co.il - on October 29, 2006

© Copyright of Globes Publisher Itonut (1983) Ltd. 2006

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