On January 15, the U.S. Department of the Treasury announced that it imposed sanctions on Kyrgyzstan’s Keremet Bank for its role in Russia’s scheme to evade U.S. sanctions imposed following Russia’s invasion of Ukraine. According to the Treasury Department, since at least summer 2024, officials at Keremet Bank have coordinated with Russian officials and
The European Bank for Reconstruction and Development (EBRD) says it has set a new operational record in Central Asia by investing €2.26 billion through 121 projects in six regional economies last year – almost doubling its annual investment in Central Asia compared with 2023. It also mobilized €784 million from co-financiers, thus bringing more than
President of Uzbekistan Shavkat Mirziyoyev addressed the Abu Dhabi Sustainability Week summit held in the capital of the United Arab Emirates on January 14. In his speech, Mirziyoyev noted that nowadays diversification of energy sources and drastic reduction of the share of hydrocarbons are the main conditions for mitigating the consequences of climate change, ensuring
With the support of JSC Kazakh Invest, Yesil Technology Company will establish the production of industrial unmanned drones in Kazakhstan. The project involves the construction of an industrial and research area of 50,000 square meters. The zone will include a workshop for the production of batteries, a research center for innovative technologies, full-cycle machine storage, and
The Trade Mission of the Kyrgyz Republic in Uzbekistan has signed a memorandum of cooperation with Food City Tashkent LLC. The memorandum is aimed at developing trade and economic relations between the Kyrgyz Republic and Uzbekistan, as well as creating the necessary conditions for promoting Kyrgyz exporters to the Uzbek market. As part of the
The Minister of Foreign Affairs of the Kyrgyz Republic Zheenbek Kulubaev paid his first official visit to Astana on January 10. During the talks, Deputy Prime Minister – Minister of Foreign Affairs of Kazakhstan Murat Nurtleu and Minister Kulubaev discussed priority areas of political, trade, economic, investment, water and energy, transit and transport, and cultural
On January 8, Tajikistan President Emomali Rahmon signed a decree declaring 2025-2030 the “Years of Digital Economy and Innovation Development”. According to a commentary to the presidential decree published on Rahmon’s official website, during the Years of Digital Economy and Innovation Development, Tajikistan will take steps towards digitalization of the national economy and the development of
Afghanistan’s trade volume in 2024 exceeded $12 billion, with a 38-percent increase in imports year-on-year and a 4-percent decrease in exports, Xinhua reported with reference to the country’s Ministry of Commerce and Industry. “Afghanistan’s total trade stood at 12.42 billion dollars in 2024, of which the country’s export volume reached 1.8 billion dollars, while imported
The government of Brazil, which holds the presidency of BRICS in 2025, on January 6 announced the formal entry of Indonesia into BRICS as a full member. The BRICS is an informal group of countries that originally consisted of Brazil, Russia, India, China, and South Africa. BRICS has recently expanded its membership to include Egypt,
Uzbekistan President Shavkat Mirziyoyev has been reported on measures to ensure employment of the population and increase incomes in mahallas (neighborhoods) with the participation of banks. A total of 5.2 million people are planned to be employed in 2025, of which more than 3 million with the assistance of banks. Agreements on cooperation to provide
In the era of rapid technological progress, information technology permeates all spheres of life. IT technologies are a competitive advantage in today’s global market. Kazakhstan, being at the forefront of the digital transition, is dynamically developing its IT sector, making it one of the drivers of its economic growth. The export of IT services has
The United States Agency for International Development (USAID) has completed an IT skills training program for female customs officers of the State Customs Committee of Uzbekistan. The training, delivered in partnership with IT Academy through USAID’s Trade Central Asia, empowered 287 customs professionals with digital skills. The attending customs professionals improved their digital competence, developed
The Afghan Ministry of Agriculture, Irrigation, and Livestock said that China will construct three standard cold storage facilities with a capacity of 1,500 tons each for preserving fresh fruit and vegetables in Afghanistan, TOLOnews reported. According to the ministry, Chinese diplomats have announced that engineers from China would be sent to Afghanistan to build these
More than 500 people in the agricultural sector will benefit from advanced cattle management, fodder cultivation, and artificial insemination initiatives supported by the U.S. government through the United States Agency for International Development (USAID). The new partnerships drive economic growth in the south of the Kyrgyz Republic by strengthening the dairy value chain and livestock breeding.
The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) has released its 2024 report on investments in the region. According to the report, Kazakhstan attracted $15.7 billion in new projects, securing its position as the leading destination for investments in the North and Central Asia region, Kazakh Invest reported. In 2024,
Afghanistan’s Ministry of Mines and Petroleum has signed a contract for the construction of a major cement production plant in Logar with a Chinese company that also has an Afghan partner, TOLOnews reported. Hedayatullah Badri, acting minister of mines and petroleum, stated during the contract signing ceremony that approximately $145 million will be invested in
As of 20 December 2024, the “Work in the EAEU” mobile app, developed by the Eurasian Development Bank’s (EDB) Fund for Digital Initiatives, has launched public and commercial services for migrant workers in Uzbekistan. This enables individuals seeking employment in Uzbekistan to access the necessary services directly from their smartphones, the EDB said. The Eurasian
On December 23, Uzbekistan President Shavkat Mirziyoyev chaired a meeting on the priority tasks for 2025 to utilize additional opportunities and increase investments and employment in the northwestern region of Karakalpakstan. A project office will be established to develop three main areas in Karakalpakstan – agriculture, industry, and tourism. The office will analyze the growth
On December 23, Deputy Minister of Foreign Affairs of Kazakhstan Roman Vassilenko met with Ambassador of the European Union to Kazakhstan Aleška Simkić. The parties noted the high dynamics of bilateral cooperation in the outgoing year, welcoming both numerous and regular high-level contacts as well as a significant increase in trade turnover and investment activity.
The Asian Development Bank (ADB) and Hamkorbank have signed a 625 billion Uzbek sum (equivalent to about $50 million) loan to enhance access to financing to rural micro, small, and medium-sized enterprises (MSMEs) in Uzbekistan. A majority of the loan will be allocated to support financial inclusion for MSMEs outside the capital of Tashkent. At
