Kazakh Invest national company and the Chinese company Xinjiang Hengyuan Investment Management Co., Ltd. have signed a Memorandum of Understanding aimed at implementing a large-scale project to create a Kazakhstan-China Trade and Industrial Park in Astana. Xinjiang Hengyuan Investment Management Co., Ltd., based in Baiyang, China, with significant experience in executing similar projects, plans to build the
On August 19-21, a delegation of Kazakh Invest national company headed by the Chairman of the Board, Yerzhan Yelekeyev, visited Germany and held talks with major German companies. As reported by Kazakh Invest, at a meeting with representatives of WIS Kunststoffe Gmbh, which plans to produce compounds and plastics in Kazakhstan’s Atyrau region, the company’s general director, Sigmar
The Uzbek Ministry of Transport on August 20 announced the first container cargo transportation along a new multimodal route from the Indian ports of Mundra, Nhava Sheva and Chennai to Uzbekistan. The cargo was delivered by sea from India to the Iranian port of Bandar Abbas, and then by rail to the Sergeli station in
Uzbekistan President Shavkat Mirziyoyev earlier this week attended the ceremony to launch the construction of wind power plants in the country’s northwestern region of Karakalpakstan. A wind power plant with a capacity of 1 gigawatts and worth $1.2 billion will be built by the Chinese company Sany Renewable in Karakalpakstan’s Kungrad district. Another wind plant
The Keremet Bank in Kyrgyzstan said it suspended money transactions to several major Russian banks, RFE/RL’s Kyrgyz Service reported. Last week, another bank in Kyrgyzstan, MBank, made a similar move. The 24.kg website reported on August 21 that after visiting 16 banks in Bishkek, the news agency’s journalists found that in all, 13 banks have suspended monetary transactions to major Russian
The Asian Development Bank (ADB) on 21 August said it has approved a $17.5 million grant to help improve women’s agricultural skills and boost food security in Tajikistan. The Resilient Livelihoods and Empowerment of Rural Women Project aims to improve productivity of women-led farms, strengthen agriculture processing and storage facilities, and enhance support to vulnerable women in
The Chinese company Zijin Mining Group Co. Ltd plans to invest in developing gold, copper, and polymetallic deposits in Kazakhstan. The project was discussed last week in Astana by Deputy Minister of Foreign Affairs of Kazakhstan Alibek Kuantyrov and Zijin Mining Chairman Chen Jinghe. Zijin Mining is currently searching for a suitable deposit in
The KamaTyresKZ tyre-manufacturing plant in the city of Saran in Kazakhstan’s Karaganda region was put into operation on July 1 and during the first month of its operation produced about 30 thousand tyres, including 29 thousand tyres for passenger cars. The plant is a joint project with Russia’s Tatneft company. The plant’s production capacity is
The United Nations, in collaboration with the Government of Karakalpakstan, announced the launch of two projects to tackle pressing environmental and health issues in the northwestern region of Uzbekistan. The projects, supported by the Multi-Partner Human Security Trust Fund for the Aral Sea Region include: the UNICEF project, “Enhancing Climate-Resilient and Safe Water, Sanitation, Hygiene,
Afghanistan and Uzbekistan signed 35 investment and trade agreements worth $2.5 billion during Uzbekistan Prime Minister Abdulla Aripov’s visit to Kabul on August 17, TOLOnews reported. According to the Economic Deputy of the Afghan Prime Minister’s Office, 12 agreements worth $1.4 billion were signed in the investment sector, and 23 agreements worth $1.1 billion were
The government of Uzbekistan and a consortium of companies including Abu Dhabi Sustainable Water Solutions (UAE), SUEZ (France) and Marubeni (Japan) have signed a Joint Development Agreement for the construction of a new modern wastewater treatment plant in the Kuichirchik district of the Tashkent region, the Uzbek Ministry of Investment, Industry and Trade said. SUEZ
The Eurasian Development Bank (EDB) has released the latest Macroeconomic Review for the Bank’s six member states: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. EDB’s analysts note that most member countries continue to display robust growth: the aggregate GDP of the EDB’s region of operations increased by 4.6% YoY in January-June 2024, after an increase
In the first half of 2024, Kyrgyzstan imported 2.02 billion kWh of electricity, including 909.8 million kWh from Russia and Kazakhstan, 837.5 million kWh from Turkmenistan, and 275.3 million kWh from Uzbekistan, Kyrgyz Minister of Energy Taalaibek Ibrayev told a press conference in Bishkek earlier this month. In 2023, electricity imports amounted to 3.2 billion
A number of documents were signed for Turkish investments in Kazakhstan’s agro-industrial sector and trade in agricultural products for a total of $2 billion during a visit of Kazakh Minister of Agriculture Aidarbek Saparov to Turkey on August 12. With the participation of Turkish investors, six projects have already been implemented in Kazakhstan, and 10
The only mobile network operator in Turkmenistan, Altyn Asyr, has stopped selling SIM cards to clients, citing a limited capacity for new telephone numbers, RFE/RL’s Turkmen Service reported. Residents of the Turkmen capital, Ashgabat, told RFE/RL that many teenagers who became eligible to purchase telephones and SIM cards after they reached 16 and obtained their
The United Nations Development Programme (UNDP) in Kazakhstan has presented the results of the project to reduce the risks of investing in renewable energy technologies. At the final event of the project, which was implemented by UNDP in partnership with the Ministry of Energy of Kazakhstan and with financial support from the Global Environment Facility
Uzbekistan President Shavkat Mirziyoyev has signed the law “On recognition of ownership rights to illegally seized land plots and buildings built on them.” Many citizens of the country waited for this law for a long time, as it concerns the lives of millions of families. According to preliminary estimates, there are currently more than 3.6
Travel on the planned highway that will connect Kazakhstan’s largest city, Almaty, and Kyrgyzstan’s Lake Issyk-Kul would cost between $10 and $25, Tazabek news agency reported citing Kylychbek Jakypov, the Asian Development Bank’s (ADB) representative and national coordinator of Almaty-Bishkek Economic Corridor. Almaty is only 80 kilometers away from Issyk-Kul, which is renowned for its
The European Bank for Reconstruction and Development (EBRD) says it is making its first direct equity investment in the graphite and critical raw materials sector in Central Asia by acquiring a stake in Sarytogan Graphite Limited, an Australian Securities Exchange-listed company involved in the exploration of the Sarytogan graphite deposit in the Karaganda region of central Kazakhstan. The
On August 9, Astana hosted a business forum in the framework of the “Central Asia + Japan” dialogue. The event, organized by national company Kazakh Invest and Japanese association ROTOBO, was an important platform for strengthening trade, economic and investment ties between the countries of the region and Japan, Kazakh Invest reported. Speaking at the event,
