The Asian Development Bank (ADB) on August 28 launched a new country partnership strategy for Turkmenistan designed to help the Central Asian nation develop a competitive, diversified, and knowledge-based economy driven by an innovative private sector. Under the new strategy, covering 2024-2028, ADB’s assistance will focus on three strategic priorities — supporting the green transition to a
The Asian Development Bank (ADB) on August 27 launched a new country partnership strategy for Uzbekistan covering 2024–2028 that will support the country’s reforms to transform into a green and inclusive economy. Under the new 5-year strategy, ADB will work closely with the Government of Uzbekistan to facilitate the central Asian nation’s transition to a green economy,
Kazakhstan’s Deputy Minister of Foreign Affairs Alibek Kuantyrov last week met with President of Carlsberg Kazakhstan Vyacheslav Maltsev to discuss the Danish company’s plans to expand its activities in Kazakhstan and Central Asia. As reported by the Kazakh Foreign Ministry, Maltsev noted the favorable investment climate in Kazakhstan and told about a new Carlsberg Kazakhstan
Kazakhstan’s Ministry of Digital Development, Innovation and Aerospace Industry and Freedom Bank, on one side, and Tajikistan’s Agency for Innovation and Digital Technologies and Amonatbank, on the other side, last week signed a memorandum of cooperation in the development of IT technologies and innovations. The parties agreed to cooperate in the development of digital infrastructure
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
On August 22, Kazakhstan President Kassym-Jomart Tokayev arrived in Tajikistan on a state visit and held talks with President Emomali Rahmon. Following the talks, the presidents signed a Treaty on allied relations between Kazakhstan and Tajikistan. President Rahmon emphasized the historical importance of signing the Treaty and stated that “this important document will undoubtedly open
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 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
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
Kazakhstan’s national railways company Kazakhstan Temir Zholy (KTZ) on August 13 said that since the beginning of this year, the rail container transportation from China to Europe through Kazakhstan along the Trans-Caspian International Transport Route (TITR) has grown 14-fold compared to the same period last year. The Trans-Caspian International Transport Route, also known as the
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
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
On August 12, the scientific and practical conference “The Caspian Sea: Cooperation for Sustainable Development” dedicated to the Caspian Sea Day was held in the Avaza National Tourist Zone in Turkmenistan. The conference was attended by heads and representatives of relevant ministries and departments of Turkmenistan, heads of diplomatic missions of foreign states, experts of
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,
At the Kazakhstan-Uzbekistan business forum in Astana on August 7, the two countries agreed on joint implementation of 34 investment projects worth $4.4 billion and signed trade contracts worth $2.6 billion. As reported by the Kazakh government’s press service, the joint projects will be implemented in energy, mining and geology, transport, chemical industry, construction, electrical
