Kazakhstan-based billionaire Mikheil Lomtadze has bought England’s Wycombe Wanderers soccer club, RFE/RL’s Kazakh Service reported. Lomtadze’s Blue Ocean Partners Ltd. paid an undisclosed amount for a 90 percent stake in the club, which plays in England’s League One, the third level of the English football league system, the BBC reported on May 5. The 48-year old Georgia-born
The United Nations Development Program (UNDP) in Kyrgyzstan, in collaboration with the PF “Training and Consulting Center” (TES-Center), is launching an initiative to strengthen the value chain (VAC) of natural honey under UNDP project “Aid for Trade in Central Asia”, funded by the Government of Finland. The project will continue to provide support to key
The European Bank for Reconstruction and Development (EBRD) says it is supporting micro, small and medium-sized businesses and improving access to finance for young entrepreneurs in Uzbekistan by providing a financial package of up to US$ 20 million (€18.8 million) to a major private lender, Ipak Yuli Bank. The package consists of a US$ 10 million loan under
Significant steps towards expanding relations between Kazakhstan and Uzbekistan were made within the framework of the III Tashkent International Investment Forum on May 2-3, the Ministry of Foreign Affairs of Kazakhstan reported. Deputy Minister of Foreign Affairs of Kazakhstan Nazira Nurbayeva spoke at the event, saying that last year, the trade turnover between Kazakhstan and Uzbekistan reached
The first meeting of the Business Council of Kazakhstan and Croatia was held in Zagreb on April 25 as part of a joint business forum with the support of the Embassy of Kazakhstan in Croatia. During the event, Ulbosyn Sarybayeva, the representative of National Company Kazakh Invest, told Croatian businessmen about measures of state support for investments and
Thirty aspiring tourism business owners from universities in Osh, Kyrgyzstan and Uzbekistan will participate in the two-day “Youth Empowerment in Tourism” workshop to hone their skills in digital literacy, hotel service, business development, and social media marketing. The workshop features experts from the Kyrgyz Republic, the United States, Kazakhstan, and Uzbekistan, and included session on
During the official visit of UK Foreign Secretary David Cameron to Kazakhstan, a ceremony was held on April 25 to sign two commercial documents. The Ministry of Healthcare of Kazakhstan, the Almaty City Administration, National Company Kazakh Invest, and AstraZeneca signed a Plan for the implementation of an investment project for contract manufacturing of biotechnological
With the support of the Ministry of Foreign Affairs of Kazakhstan and National Company Kazakh Invest, Carlsberg Kazakhstan on April 19 opened a new production site in Almaty worth $50 million. The launch of the new production facility will contribute to ensuring 100% localization of brewing and non-alcoholic products to meet the domestic needs of the
Turkmenistan President Serdar Berdimuhamedov on April 17 opened a section of the Ashgabat-Turkmenabat high-speed highway linking the cities of Tejen and Mary in southeastern Turkmenistan. According to the State News Agency of Turkmenistan, the construction of the 600-kilometers-long Ashgabat-Turkmenabat highway started in January 2019. The highway will consist of three sections: Ashgabat-Tejen (203 kilometers), Tejen-Mary
Economic growth in Uzbekistan is expected to decrease in 2024 due to the impact of higher prices on household disposable income, according to a new flagship report from the Asian Development Bank (ADB). In its Asian Development Outlook (ADO) April 2024, ADB projects gross domestic product (GDP) growth for Uzbekistan to be 5.5% in 2024, followed
Madina Abdikadyr, the Project Manager of National Company Kazakh Invest, on April 12 met with Ahmad Kilani, the Chairman of the Board of Directors of the Egyptian company EIPICO, to discuss the company’s plans to build a full-cycle biopharmaceutical plant on the territory of Saran industrial zone in Kazakhstan’s Karaganda region. The planned investment volume will
The Eurasian Development Bank (EDB) has released its latest Macroeconomic Review for the Bank’s six member states — Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. According to EDB analysts, despite the challenging foreign economic environment, the region where the Bank operates continues to display robust growth. In early 2024, short-term economic activity indicators demonstrated sustained
Tajikistan’s economic growth is projected to decelerate slightly in 2024 and 2025 due to weaker remittances, fiscal space constraints, and subdued global demand for Tajikistan’s major export commodities, says the Asian Development Bank (ADB). The country’s gross domestic product (GDP) is forecast to grow at 6.5% both this year and next after registering 8.3% growth in
Kyrgyzstan’s economy is expected to grow moderately in 2024 and 2025 with slower gains in construction and services, eventually reaching its long-term potential rate, according to a new Asian Development Bank (ADB) report. The Asian Development Outlook (ADO) April 2024, ADB’s flagship economic publication, forecasts the Kyrgyz Republic’s gross domestic product (GDP) growth to slow to
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
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
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
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
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
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
