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The U.S. and Kazakhstan have developed a history of good foreign relations. With Kazakhstan’s vast natural energy resources and the U.S. looking for more cost-effective ways to supply oil and gas to American consumers, both parties have benefited greatly. In addition to natural resources, Kazakhstan Democracy and financial stability has made it an attractive economy for businesses of all types. Here are some of the major U.S. companies that have invested in Kazakhstan.
Chevron is a premier global energy company and is the second largest producer of crude oil and natural gas in the U.S. Since 1993, Chevron has been the majority owner of Tengizchevroil consortium oil plant in Kazakhstan, the largest oil producer in the country. As of April 2011, Chevron is planning to increase its investment capital with the construction of a Kazakh wind power plant.
- Phillips Morris International (PMI)
With its home office in New York City, PMI is currently the world’s largest global tobacco company. PMI products are sold in over 160 countries that include the popular cigarette brands: Marlboro and Virginia Slims. PMI has a proud history of being one of the first foreign investor in Kazakhstan. The company has been an investor since 1993 and presently operates a tobacco processing plant in Almaty, Kazakhstan.
- Marriott Corporation
This popular American hotel chain has taken interest in expanding its luxury JW Marriot brand to the city of Almaty. In 2008, the company officially announced its plans to build the hotel, which is now set to open in April 2013. The hotel will be the only residential property managed by a hotel chain in Almaty.
With a track record of successful investment ventures from major companies, Kazakhstan has proven that it’s a hot market for U.S. investors.