The proposal came during the second day of Lee’s visit to the country.
Meeting with Kazakh Prime Minister Olzhas Bektenov, Lee highlighted the growing economic weight between the two sides.
He noted that Hong Kong was Kazakhstan’s 10th-largest net investor globally and the fourth-biggest in Asia at the start of this year.
Lee said Hong Kong enjoys the unique advantages of having strong support of the motherland and being closely connected to the world under the “one country, two systems” principle.
He proposed that Kazakhstan serve as Hong Kong’s gateway to the Central Asian market, while Hong Kong would act as Kazakhstan’s springboard into East and Southeast Asia.
The visit has already yielded significant commercial and diplomatic momentum, with Lee announcing that Hong Kong and Kazakhstan have agreed to accelerate exploratory discussions on a Comprehensive Avoidance of Double Taxation Agreement and an Investment Promotion and Protection Agreement.
During a meeting with Nurlan Zhakupov, CEO of Kazakhstan’s national sovereign wealth fund Samruk-Kazyna, Lee described Hong Kong as a stable and secure investment haven.
He noted that the city ranked first globally in funds raised through initial public offerings in the first quarter of this year, positioning it as an ideal listing destination for the fund’s diverse portfolio of assets.
He encouraged projects under the fund to list in the city to diversify investment risk.
Earlier on Tuesday, the CE visited Baiterek National Investment Holding, a key financial operator of the Kazakh government.
He encouraged the company to leverage Hong Kong’s financial system and professional services for cooperation in infrastructure financing, bonds and green finance.
Lee extended an invitation for the firm to explore development potential in the Northern Metropolis.
He also held talks with Minister of Trade and Integration Arman Shakkaliyev on deepening bilateral trade, logistics and financial technology cooperation.
Lee emphasised Hong Kong’s status as the world’s fifth-largest merchandise trading entity and its commitment to free trade and multilateralism.
He suggested that as Kazakhstan works to expand its role as a regional trading hub through digital commerce and market modernisation, the SAR could serve as a critical gateway for Kazakh enterprises looking to enter the mainland and broader Asian markets.
The chief executive is scheduled to continue his visit in Kazakhstan on Wednesday before heading to Uzbekistan on the second leg of his tour.
