EURASIAN STAR LOGO
Business & Economy KZ

ADB forecasts Kazakhstan’s economy to grow 3.8% in 2024, 5.3% in 2025

Kazakhstan’s growth is projected to moderate in 2024 amid a slowdown in industry due to stagnant oil production before recovering in 2025 with gains in mining and investment, according to a new Asian Development Bank (ADB) report. The Asian Development Outlook (ADO) April 2024, ADB’s flagship economic publication published on April 11, projects Kazakhstan’s gross domestic product

Read More
Business & Economy KZ

Spanish manufacturer of sanitary ware to expand activities in Kazakhstan

Asel Suankulova, Deputy Director of the Department for Attracting Investments and Marketing of JSC National Company KAZAKH INVEST, held a meeting with representatives of the Spanish company Roca. The parties discussed the strategic possibility of opening a logistics center and a brand gallery, Roca Gallery, in Kazakhstan and further launching production in the country. This strategic

Read More
Business & Economy KG

Kyrgyzstan to boost productivity and climate resilience in agriculture with World Bank support

The World Bank’s Board of Executive Directors on April 8 approved a $30 million financing for the Resilient Agri-food Clusters Development Project for the Kyrgyz Republic. The project will be complemented by a $5 million grant from the Global Agriculture and Food Security Program (GAFSP). With a combined financing of $35 million, the project aims to boost the

Read More
Business & Economy KZ

Kazakhstan and Egypt to develop economic cooperation

The Embassy of Kazakhstan in Egypt and KAZAKH INVEST National Company on April 4 in Cairo held a round table with major Egyptian companies that are part of the Business Council for International Cooperation. During the event, participants discussed investment, trade and economic opportunities between Kazakhstan and Egypt, the Kazakh Foreign Ministry reported. Kairat Lama

Read More
Business & Economy KZ

Chinese company considering building a $150 million plant in Kazakhstan

Yerzhan Yelekeyev, Chairman of the Management Board of JSC National Company Kazakh Invest, and Sultangali Kinzhakulov, Deputy Chairman of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan, on April 3 met with the leadership of the Chinese company Zhejiang Sunny Group Co., Ltd. to discuss the possibility of building a plant for the

Read More
Business & Economy KG

Kyrgyzstan reports rising per capita GDP

According to Kyrgyzstan’s Ministry of Economy and Commerce, the country’s GDP per capita in 2023 reached $1,969.2, compared to $1,350.7 in 2021. Kyrgyzstan’s economic growth over the past three years averaged 6.9% (in 2021 – 5.5%, in 2022 – 9%, and in 2023 – 6.2%). Since 2021, the country has recorded an acceleration in GDP

Read More
Business & Economy KG

Construction of waste processing plant starts in Bishkek

The Chairman of the Cabinet of Ministers of the Kyrgyz Republic, Akylbek Japarov on March 29 attended the ceremony to launch the construction of a plant for the production of electricity with the disposal of solid household waste in the city of Bishkek. Japarov emphasized that environmental issues have been very acute in the capital

Read More
Business & Economy KG

Modernization of Kant Cement Plant starts in Kyrgyzstan with EDB funding

First Deputy Chairman of the Cabinet of Ministers of the Kyrgyz Republic, Adylbek Kasymaliev on March 20 officially inaugurated the modernization of the Kant Cement Plant. The Eurasian Development Bank (EDB) has allocated up to CNY 351.2 million for the project. The ceremony brought together heads of relevant national and regional authorities. The EDB’s financing

Read More
Business & Economy KZ

EBRD supports Kazakhstan’s leading salt producer

The European Bank for Reconstruction and Development (EBRD) says it is supporting the expansion of Araltuz, a leading Kazakhstan-based producer of table and low-grade technical salt in Central Asia, by extending a convertible loan of up to KZT 5.5 billion (€11 million). The funds will be provided to Salt Industry Ltd., a joint-stock company operating under the

Read More
Business & Economy KZ

World Bank helps Kazakhstan shift to a more competitive, greener and inclusive economy

The World Bank’s Board of Executive Directors has approved a loan in the amount of $600 million to Kazakhstan, marking the first phase of a series of reforms aimed at promoting sustainable and inclusive economic growth in the country. The reforms support Kazakhstan’s transition towards an economy that is greener, has more competitive markets, and is more

Read More
Business & Economy KZ

Kazakhstan to launch 37 new solid waste treatment plants

Construction of solid waste processing plants in major cities of Kazakhstan was considered at a government session this week. Minister of Ecology and Natural Resources Yerlan Nysanbayev reported that the government approved a mechanism of preferential financing of projects in the field of waste management. This applies to the purchase of rubbish trucks, the launch

Read More
Business & Economy KZ

Kazakh-Belgian business forum held in Brussels

The Kazakh-Belgian business forum with the participation of more than 60 officials and representatives of business communities of Kazakhstan, Belgium and Luxembourg was organized on March 12 in Brussels by the Embassy of Kazakhstan in Brussels, as well as the BEСI (Brussels) and BeNeLux (Astana) Chambers of Commerce. While greeting the participants, Ambassador of Kazakhstan

Read More
Business & Economy KG KZ

Kazakhstan to sign agreement with Kyrgyzstan on promotion and protection of investments

Kazakhstan intends to sign an agreement with Kyrgyzstan on the promotion and protection of investments, KazTAG information agency reported on March 12. “To approve the draft agreement between the government of the Republic of Kazakhstan and the Cabinet of Ministers of the Kyrgyz Republic on the promotion and mutual protection of investments,” says the draft

Read More
Business & Economy UZB

USAID launches new project to support businesses in Uzbekistan

The U.S. Agency for International Development (USAID) announced the launch of the Business Support Project, a groundbreaking initiative aimed at fostering sustainable and inclusive economic growth in Uzbekistan. The launch event on March 5 marked the beginning of a five-year journey towards enhancing the competitiveness of small and medium enterprises across four key sectors: information

Read More
Business & Economy UZB

Roadmap for Sustainable Investment Policy Reforms will be implemented in Uzbekistan

On March 6, the Organisation for Economic Co-operation and Development (OECD), the European Union (EU) and the Asian Development Bank (ADB), in cooperation with the Government of Uzbekistan, launched the “Roadmap for Sustainable Investment Policy Reforms (RSIPR)” Project funded by the EU and ADB. The project will provide a comprehensive assessment of the investment framework currently

Read More
Business & Economy UZB

EBRD supports women’s entrepreneurship in Uzbekistan

The European Bank for Reconstruction and Development (EBRD) says it is providing fresh funds and creating new growth opportunities for women-owned and managed businesses in Uzbekistan by offering a loan of up to US$ 6 million (€ 5.5 million equivalent) to Uzbek Leasing International (Uzbek Leasing).  The loan to Uzbek Leasing is extended under the EBRD’s Central Asian Women in

Read More
Business & Economy UZB

EU and UNDP support sustainable fisheries production in Uzbekistan

On March 5, the European Union (EU) and the UNDP held the handover ceremony of equipment to the Research Institute of Fisheries to support more sustainable fish farming practices in Uzbekistan. The provided equipment will help to reduce water consumption, improve water quality and energy efficiency in the fish farms, and, in turn, support the welfare of fish, the Delegation of the European Union

Read More
Business & Economy TJK

World Bank supports e-commerce development in Tajikistan

The World Bank and the IFC, the private sector arm of the World Bank Group, on March 1 organized the first Conference on Elevating Global Access through E-Commerce (E-GATE) in Tajikistan. In Central Asia, e-commerce is emerging as a powerful tool to tap into global markets for locally made products, modernize traditional supply chains, and foster

Read More
Business & Economy KG

EBRD promotes green lending in Kyrgyzstan

The European Bank for Reconstruction and Development (EBRD) says it is promoting green lending in the Kyrgyz Republic by adding three partner banks to its US$ 50 million Green Economy Financing Facility III (KyrSEFF III). Demir Kyrgyz International Bank, FINCA Bank Kyrgyzstan, Kyrgyz Investment and Credit Bank have agreed to engage in lending to small and medium-sized businesses and households across the country.

Read More
Business & Economy KG

Chinese company builds an automobile plant in Kyrgyzstan

Kyrgyzstan President Sadyr Japarov on February 28 participated in a ceremony to launch the construction of an automobile assembly plant in the country’s northern Chui region. The plant will assemble electric vehicles, commercial and passenger cars, and special equipment. It is a joint project of the Kyrgyz government, local enterprises, and the Chinese company China

Read More