The National Investment Agency under the President of the Kyrgyz Republic, Vasta Discovery LLC (Russia), and the Eurasian Development Bank (EDB) have signed a trilateral Memorandum of Cooperation on the creation of Baytik Mountain Resort in Kyrgyzstan. The signing ceremony of the Memorandum was attended by Talantbek Imanov, Director of the National Investment Agency, Sergey
The Central Securities Depository (CSD) of Kazakhstan said on July 11 that it had ordered brokers and management companies to divest Russian securities from their holdings by August 1, Current Time reported. The CSD’s press service said the move was necessary to adhere to U.S. sanctions imposed on the Moscow Stock Exchange (MSE) and its structures. In
The U.S. government through the U.S. Agency for International Development (USAID) and Nookat Almasy Cooperative have opened the largest cold storage facility in Nookat district in Kyrgyzstan’s southern Osh region that will generate 200 full-time jobs and help farmers expand their sales and market opportunities. With a total storage capacity of 1,000 tons, the facility will enhance
During a visit to the Russian Federation on July 8, Laziz Kudratov, Minister of Investment, Industry and Trade of Uzbekistan, participated in the first meeting of the Working Group on increasing trade turnover between Uzbekistan and Russia. Kudratov emphasized the exemplary nature of the development of Uzbek-Russian relations, achieved thanks to the firm political will
The Ambassador of the Kyrgyz Republic to Japan Mr. Erkinbek Osoev on July 4 in Tokyo took part in the second meeting of a business dialogue “Central Asia and Japan”. The event was attended by Ambassadors of the Central Asian countries in Japan, President of the Japanese Association for Trade with Russia and the New Independent States
The European Bank for Reconstruction and Development (EBRD) on July 2 said it is contributing to Uzbekistan’s objective of developing up to 25 GW of solar and wind capacity by 2030, by organising a facility of up to US$ 229.4 million for the development, design, construction and operation of a 500 MWh battery energy storage system (BESS)
At the Kazakhstan-China roundtable in Astana on July 2, 44 documents were signed amounting to over $3.7 billion. The agreements aim to develop joint projects in energy, transport, industry, agriculture, and high technology, Kazakh Invest national company reported. In particular, national railways company Kazakhstan Temir Zholy JSC and Lianyungang Port Group signed an agreement to invest in the construction
The Asian Development Bank (ADB) on 1 July said it is providing $50 million to support fiscal and public management reforms in the Kyrgyz Republic to enable more public funding for the nation’s low carbon transition and climate adaptation needs, and integrate gender inclusiveness into budget processes. The funding for subprogram 1 of the Sustainable Fiscal
According to the new research paper “Drinking Water Supply and Sanitation in Central Asia” released by the Eurasian Development Bank (EDB), almost 10 million people, or 14% of the population, have poor access to safe drinking water in Central Asia. Water withdrawals for drinking and domestic uses increased twofold to reach 8.6 km3 between 1994
On June 27, Uzbekistan President Shavkat Mirziyoyev left his signature on the first electric vehicle that rolled off the assembly line of the joint venture BYD Uzbekistan Factory in the country’s Jizzakh region. In the first phase of the project, with a cost of $160 million, the new plant will have a production capacity of
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
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
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
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
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,
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
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
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
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,
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
