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Business & Economy Eurasia KZ

EDB Annual Meeting and Business Forum to discuss enhancing Eurasian Transport Network

Prospects for cross-border transport corridors in Eurasia, realising their economic potential, reducing costs and coordinating efforts of authorities and businesses will be key topics discussed by government representatives, businesspeople and experts at the Eurasian Development Bank’s (EDB) Annual Meeting and Business Forum on 27–28 June in Almaty. The session titled “The Eurasian Transport Network: Potential, Challenges

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Business & Economy UZB

China remains Uzbekistan’s largest trading partner

According to the latest data released by the Statistics Agency of Uzbekistan, from January to May 2024 the country’s foreign trade amounted to $26.7 billion, with exports totaling $10.8 billion and imports — $15.8 billion. Compared to the same period last year, the country’s exports increased by 1.9% and imports — by 3.7%. China has

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Business & Economy KG

ADB to improve wastewater management, boost sustainable tourism in Kyrgyzstan

The Asian Development Bank (ADB) on June 24 said it is providing $56 million funding to the Kyrgyz Republic to improve wastewater management and enhance sustainable and inclusive tourism in Issyk-Kul region, renowned for its touristic appeal and importance. The funding comprises a $25 million concessional loan and a $31 million Asian Development Fund (ADF) grant. The Issyk-Kul region is particularly popular

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Business & Economy Eurasia KG KZ TJK

EDB raises economic growth forecast for the bank’s member states

The Eurasian Development Bank (EDB) has released its Macroeconomic Outlook for its six member states. According to the report, in 2024 Armenia’s GDP is expected to grow by 7.5%, Belarus’s by 3.4%, Kazakhstan’s by 5%, Kyrgyzstan’s by 5.5%, Russia’s by 3%, and Tajikistan’s by 8%. For most EDB member countries, the outlook has been upgraded

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Business & Economy UZB

Uzbekistan receives $7.5 million in carbon credits for emissions reduction

The World Bank on June 21 announced that Uzbekistan has become the first country in the world receiving a payment from the World Bank for reducing carbon emissions through a policy crediting program. This pioneering project – the Innovative Carbon Resource Application for Energy Transition (iCRAFT) – was crafted to support Uzbekistan in implementing energy efficiency measures,

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Business & Economy KZ

Indian company to develop dialysis market in Kazakhstan

On June 20 in Astana, representatives of the national company Kazakh Invest met with Vikram Vuppala, CEO of the Indian company NephroPlus to discuss the company’s plans for developing the dialysis market in Kazakhstan, Kazakh Invest reported. Vikram Vuppala told the Kazakh representatives that NephroPlus considers Kazakhstan as a new market for investment in the framework of

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Business & Economy Eurasia KG KZ

New report addresses the issue of drinking water in Central Asia

According to the Eurasian Development Bank (EDB), today, over 2 billion people globally do not have access to safe drinking water. Without action, the situation will only worsen in the long run. By 2050, drinking water consumption is projected to increase by 1.5 times. This is why the United Nations’ Sustainable Development Goal 6 is to

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Business & Economy KG TJK UZB

USAID supports Central Asian women in hospitality business

The U.S. Agency for International Development (USAID) and the International Association of Businesswomen “Tadbirkor Ayol” last week hosted the Central Asian Conference on “Women of Central Asia in the Hospitality Business: Current Challenges and Opportunities” in Tashkent. The event gathered approximately 200 women entrepreneurs, professionals, and industry experts from Uzbekistan, Tajikistan, and the Kyrgyz Republic

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Business & Economy KZ

PepsiCo to build a salty snack production plant in Kazakhstan

A presentation and signing ceremony for the roadmap to implement a project to construct a salty snack production plant in Kazakhstan took place in Astana last week. The facility, to be located in the Almaty region, will produce potato chips under the globally renowned Lay’s brand. The American company PepsiCo plans to invest $160 million,

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Business & Economy KZ

Swiss company to expand investment in Kazakhstan agricultural sector

Gabidulla Ospankulov, Chairman of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan, on June 13 met with Nabil Marc Abdul-Massih, CEO of Swiss INOKS Capital. During the meeting, the parties discussed the company’s interest in expanding investment activities in Kazakhstan, including creating an agricultural fund and concluding an investment agreement, Kazakh Invest reported. Representatives

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Business & Economy TKM

US AWE program promotes women entrepreneurship across Turkmenistan

Participants in the first Academy for Women Entrepreneurs (AWE) program in Turkmenistan pitched their business ideas to a panel of business experts in Ashgabat. The event on June 8 marked the conclusion of the AWE program, launched in March this year and implemented in Turkmenistan by the U.S. Embassy in partnership with the country’s Union of

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Business & Economy KZ

Samsung C&T Corporation interested in implementing projects in Kazakhstan

Gabidulla Ospankulov, Chairman of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan, met with Seung-Chan Jung, the Managing Director of Samsung C&T Corporation in Turkey and Central and Eastern Europe. During the meeting, the parties discussed the company’s plans for cooperation in construction and modernization of energy facilities in Kazakhstan and in renewable energy

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Business & Economy KG

EBRD helps boost reliability of energy supply in Kyrgyzstan

The European Bank for Reconstruction and Development (EBRD) on June 11 said it is pledging new funds to boost the efficiency of electricity supply in the Kyrgyz Republic by providing a financial package of up to €14 million to the government to be on-lent to the National Electric Grid of the Kyrgyz Republic, a majority state-owned electricity transmission

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Business & Economy TJK

Tajikistan president chairs National Development Council meeting

On June 10, a meeting of the National Development Council was held under the chairmanship of the President of Tajikistan Emomali Rahmon. The meeting evaluated the interim implementation of the National Development Strategy of Tajikistan for the period until 2030, identified further development priorities, and attracted the attention of development partners to increasing funds for

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Business & Economy KG RU

Gazprom to supply natural gas to Kyrgyzstan until 2040

Long-term contracts for Russian natural gas supplies to Kyrgyzstan have been signed between Gazprom Export and Gazprom Kyrgyzstan. Long-term contracts for gas supplies have also been concluded between Gazprom Kyrgyzstan and two large gas consumers in Kyrgyzstan — Electric Stations and the Bishkekteploenergo municipal heating enterprise. Gazprom Kyrgyzstan is a wholly-owned subsidiary of Russian gas giant Gazprom

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Business & Economy Eurasia World

EDB developing Eurasian Transport Network concept

The Eurasian Development Bank (EDB) says it is preparing a concept for the Eurasian Transport Network aimed at enhancing connectivity across Eurasia and stimulating economic development, trade and mobility in the region. The Eurasian Transport Network is a system of international transport corridors and routes spanning over 50,000 kilometres. In 2023, five key corridors –

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Business & Economy KG

UNDP launches mentoring program to support women and youth entrepreneurship in Kyrgyzstan

The United Nations Development Programme (UNDP) in Kyrgyzstan, in collaboration with the JIA Business Association, is launching a mentoring programme for women entrepreneurs and youth. The programme is part of the UNDP project “Aid for Trade in Central Asia”, funded by the government of Finland, and aimed at supporting the development of value chains of natural honey,

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Business & Economy KZ

Companies from Singapore interested in cooperation with Kazakhstan

On June 3 in Astana, Chairman of the Board of the national company Kazakh Invest Yerzhan Yelekeyev held a meeting with executives of Singaporean companies. The delegation visited Kazakhstan following the results of the forum held in Singapore with the participation of Kazakhstan’s president in May. During the meeting, the parties discussed prospects for further investment cooperation

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Business & Economy KZ

Agreement for construction of $1.5 billion copper smelter signed in Kazakhstan

On June 3, Prime Minister of Kazakhstan Olzhas Bektenov and Chairman of the Board of Directors of China Nonferrous Metal Mining Co. Ltd. Xi Zhengping discussed cooperation in the copper industry. The result of the meeting was the signing of an agreement on the construction of a smelter with a capacity of 300 thousand tons

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Business & Economy KZ

Italian companies interested in projects in Kazakhstan

On May 30 in Rome, Minister of Foreign Affairs of Kazakhstan Murat Nurtleu held a series of meetings with the heads of major Italian companies interested in the development of investment, trade and economic cooperation with Kazakhstan. At the meeting with Stefan Pontecorvo, President of the transnational company Leonardo, the parties addressed the possibilities of

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