Turkmenistan President Serdar Berdimuhamedov on April 17 opened a section of the Ashgabat-Turkmenabat high-speed highway linking the cities of Tejen and Mary in southeastern Turkmenistan. According to the State News Agency of Turkmenistan, the construction of the 600-kilometers-long Ashgabat-Turkmenabat highway started in January 2019. The highway will consist of three sections: Ashgabat-Tejen (203 kilometers), Tejen-Mary
Economic growth in Uzbekistan is expected to decrease in 2024 due to the impact of higher prices on household disposable income, according to a new flagship report from the Asian Development Bank (ADB). In its Asian Development Outlook (ADO) April 2024, ADB projects gross domestic product (GDP) growth for Uzbekistan to be 5.5% in 2024, followed
Madina Abdikadyr, the Project Manager of National Company Kazakh Invest, on April 12 met with Ahmad Kilani, the Chairman of the Board of Directors of the Egyptian company EIPICO, to discuss the company’s plans to build a full-cycle biopharmaceutical plant on the territory of Saran industrial zone in Kazakhstan’s Karaganda region. The planned investment volume will
The Eurasian Development Bank (EDB) has released its latest Macroeconomic Review for the Bank’s six member states — Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. According to EDB analysts, despite the challenging foreign economic environment, the region where the Bank operates continues to display robust growth. In early 2024, short-term economic activity indicators demonstrated sustained
Tajikistan’s economic growth is projected to decelerate slightly in 2024 and 2025 due to weaker remittances, fiscal space constraints, and subdued global demand for Tajikistan’s major export commodities, says the Asian Development Bank (ADB). The country’s gross domestic product (GDP) is forecast to grow at 6.5% both this year and next after registering 8.3% growth in
Kyrgyzstan’s economy is expected to grow moderately in 2024 and 2025 with slower gains in construction and services, eventually reaching its long-term potential rate, according to a new Asian Development Bank (ADB) report. The Asian Development Outlook (ADO) April 2024, ADB’s flagship economic publication, forecasts the Kyrgyz Republic’s gross domestic product (GDP) growth to slow to
Kazakhstan’s growth is projected to moderate in 2024 amid a slowdown in industry due to stagnant oil production before recovering in 2025 with gains in mining and investment, according to a new Asian Development Bank (ADB) report. The Asian Development Outlook (ADO) April 2024, ADB’s flagship economic publication published on April 11, projects Kazakhstan’s gross domestic product
Asel Suankulova, Deputy Director of the Department for Attracting Investments and Marketing of JSC National Company KAZAKH INVEST, held a meeting with representatives of the Spanish company Roca. The parties discussed the strategic possibility of opening a logistics center and a brand gallery, Roca Gallery, in Kazakhstan and further launching production in the country. This strategic
The World Bank’s Board of Executive Directors on April 8 approved a $30 million financing for the Resilient Agri-food Clusters Development Project for the Kyrgyz Republic. The project will be complemented by a $5 million grant from the Global Agriculture and Food Security Program (GAFSP). With a combined financing of $35 million, the project aims to boost the
The Embassy of Kazakhstan in Egypt and KAZAKH INVEST National Company on April 4 in Cairo held a round table with major Egyptian companies that are part of the Business Council for International Cooperation. During the event, participants discussed investment, trade and economic opportunities between Kazakhstan and Egypt, the Kazakh Foreign Ministry reported. Kairat Lama
Yerzhan Yelekeyev, Chairman of the Management Board of JSC National Company Kazakh Invest, and Sultangali Kinzhakulov, Deputy Chairman of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan, on April 3 met with the leadership of the Chinese company Zhejiang Sunny Group Co., Ltd. to discuss the possibility of building a plant for the
According to Kyrgyzstan’s Ministry of Economy and Commerce, the country’s GDP per capita in 2023 reached $1,969.2, compared to $1,350.7 in 2021. Kyrgyzstan’s economic growth over the past three years averaged 6.9% (in 2021 – 5.5%, in 2022 – 9%, and in 2023 – 6.2%). Since 2021, the country has recorded an acceleration in GDP
The Chairman of the Cabinet of Ministers of the Kyrgyz Republic, Akylbek Japarov on March 29 attended the ceremony to launch the construction of a plant for the production of electricity with the disposal of solid household waste in the city of Bishkek. Japarov emphasized that environmental issues have been very acute in the capital
First Deputy Chairman of the Cabinet of Ministers of the Kyrgyz Republic, Adylbek Kasymaliev on March 20 officially inaugurated the modernization of the Kant Cement Plant. The Eurasian Development Bank (EDB) has allocated up to CNY 351.2 million for the project. The ceremony brought together heads of relevant national and regional authorities. The EDB’s financing
The European Bank for Reconstruction and Development (EBRD) says it is supporting the expansion of Araltuz, a leading Kazakhstan-based producer of table and low-grade technical salt in Central Asia, by extending a convertible loan of up to KZT 5.5 billion (€11 million). The funds will be provided to Salt Industry Ltd., a joint-stock company operating under the
The World Bank’s Board of Executive Directors has approved a loan in the amount of $600 million to Kazakhstan, marking the first phase of a series of reforms aimed at promoting sustainable and inclusive economic growth in the country. The reforms support Kazakhstan’s transition towards an economy that is greener, has more competitive markets, and is more
Construction of solid waste processing plants in major cities of Kazakhstan was considered at a government session this week. Minister of Ecology and Natural Resources Yerlan Nysanbayev reported that the government approved a mechanism of preferential financing of projects in the field of waste management. This applies to the purchase of rubbish trucks, the launch
The Kazakh-Belgian business forum with the participation of more than 60 officials and representatives of business communities of Kazakhstan, Belgium and Luxembourg was organized on March 12 in Brussels by the Embassy of Kazakhstan in Brussels, as well as the BEСI (Brussels) and BeNeLux (Astana) Chambers of Commerce. While greeting the participants, Ambassador of Kazakhstan
Kazakhstan intends to sign an agreement with Kyrgyzstan on the promotion and protection of investments, KazTAG information agency reported on March 12. “To approve the draft agreement between the government of the Republic of Kazakhstan and the Cabinet of Ministers of the Kyrgyz Republic on the promotion and mutual protection of investments,” says the draft
The U.S. Agency for International Development (USAID) announced the launch of the Business Support Project, a groundbreaking initiative aimed at fostering sustainable and inclusive economic growth in Uzbekistan. The launch event on March 5 marked the beginning of a five-year journey towards enhancing the competitiveness of small and medium enterprises across four key sectors: information
