Beijing Polyking New Horizons Technology Co. CEO Li Kangchao told JibekJoly correspondent at the Kazakhstan-China Investment Forum about the company's plans to reduce customs clearance times between Kazakhstan and China, invest $200 million in logistics infrastructure and expand vehicle trade between the two countries, Qazinform News Agency correspondent reports.
The project focuses on improving vehicle clearance at the Khorgos and Nur Zholy border crossings by connecting the customs systems of Kazakhstan and China. According to Li, differences in data management, procedures and operating schedules between the two countries have contributed to delays in cross-border trade.
"Usually, a car passing through the two customs points can spend 20 to 30 days. Using our new system and the new road, we can reduce the clearance time to within one day. From 30 days to one day is our achievement," Li said. The project received support from the governments of Kazakhstan and China.
Li said the project also involves cooperation with Chinese customs authorities to ensure data security and facilitate the exchange of information between the two countries. The initial investment in the new system amounts to $10 million, Li said. The company plans to invest a further $200 million in the construction of warehouses and new road infrastructure to expand logistics capacity.
In the first phase, the company aims to increase vehicle trade between Kazakhstan and China by 30% this year. In the longer term, Li said, the company expects the development of new infrastructure to help double the volume of trade. The project is also linked to the development of an industrial park in the Zhetysu region.
According to Li, the industrial park is being developed around the new logistics infrastructure and customs system, with plans to attract companies specializing in automotive components, vehicle assembly, robotics and other technologies. Earlier, Qazinform News Agency reported that the world’s largest container shipping company MSC Group entered the Kazakh market.