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Business & Economy TJK

IFC invests in Tajikistan’s first green bond

The International Finance Corporation (IFC), a member of the World Bank Group, has announced a subscription of up to $10 million in a landmark local currency green bond issued by Tajikistan’s Eskhata Bank. The first in the country, the bond aims to boost access to climate finance for smaller businesses amid a challenging macro-economic environment.

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Business & Economy KZ

EBRD acquires minority stake in Air Astana

The European Bank for Reconstruction and Development (EBRD) on February 14 said it has invested $41.99 million into shares of Kazakhstan’s flagship carrier, Air Astana, supporting the country’s first partial privatisation through an initial public offering (IPO). The EBRD’s investment represents a 5 per cent shareholding in Air Astana. The shares will be listed on both the London

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Business & Economy KZ

In 2024, EDB will continue to actively invest in Kazakhstan projects

On February 12, President of Kazakhstan Kassym-Jomart Tokayev met with Nikolai Podguzov, the chairman of the Eurasian Development Bank’s (EDB) Management Board. Podguzov informed President Tokayev about the Bank’s plans and said that the EDB’s annual investment in Kazakhstan’s economy has exceeded $1 billion for the second consecutive year, the EDB’s press service reported. The EDB

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Business & Economy KG

Kyrgyzstan to export 400 tons of walnuts to Turkey

Kyrgyzstan and Turkey have signed a contract for the export of 400 tons of walnuts from the Kyrgyz Republic. The first batch of walnuts will be exported to Turkey on February 15, the Kyrgyz Ministry of Economy and Commerce said. The contract comes as a result of the Kyrgyz-Turkish business forum held in the Turkish

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Business & Economy KZ

More than 90% of government services digitalized in Kazakhstan

Kazakhstan ranks 8th in the world in the development of online services. In 2023, 50 million services were provided online and citizens received 92% of services without leaving their homes, the Minister of Digital Development, Innovations and Aerospace Industry of Kazakhstan, Bagdat Musin said, summing up the results of Digital Almaty-2024 forum held last week.

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Business & Economy KZ

Telecommunications issues discussed at Digital Almaty forum

As part of the VI Digital Forum Digital Almaty 2024: “Industry X: Digital Evolution of the Future,” a panel session on the topic “Quality of Communication and Tariff Increases” took place on February 2.  The panel session began with discussions about the “250+” project, in which mobile operators created infrastructure for high-speed mobile internet access

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Business & Economy KG

Bishkek thermal power plant to be modernized following accident

Kyrgyzstan President Sadyr Japarov has ordered to fully modernize the Bishkek thermal power plant after an explosion at the old plant on February 2 left parts of the capital city without hot water and heat. Three workers of the power plant were seriously injured in the explosion. President Japarov visited the plant as its staff

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Business & Economy KZ

Average life satisfaction around 70% in Kazakhstan, shows World Bank survey

According to the latest findings from the “Listening to Kazakhstan” survey conducted by the World Bank and presented at a roundtable in Astana on January 31, around 70 percent of Kazakhstan’s citizens express satisfaction with their life – a number that has remained the same since the start of the survey in 2021. This survey, conducted in

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Business & Economy KZ

Digital Almaty forum to be held in Kazakhstan

From February 1-3, Kazakhstan’s business capital, Almaty, will host the Digital Almaty 2024 forum, entitled “Industry X: The Digital Development of the Future”. Now in its sixth year, the forum will bring together government officials from Shanghai Cooperation Organization (SCO) and Eurasian Economic Union (EEU) countries, leading experts, and entrepreneurs from around the world, said

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Business & Economy KG

Ex-deputy chief of Kyrgyzstan’s Customs Service added to wanted list

The Kyrgyz Interior Ministry’s official told RFE/RL’s Kyrgyz Service on January 26 that the former deputy chief of the Customs Service, Raimbek Matraimov, who in 2020-2021 was at the center of a high-profile corruption scandal, was added to the wanted list of the State Committee for National Security. The ex-official is suspected of abducting and

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Business & Economy KZ

Kazakhstan to double agro-industrial production by 2028

The Government of Kazakhstan is introducing new approaches to agro-industrial sector development. The document on the issue was approved at the meeting on January 25, chaired by the Prime Minister of Kazakhstan, Alikhan Smailov. It was said at the meeting that President Kassym-Jomart Tokayev set specific objectives to bring the agricultural sector to a new

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Business & Economy UZB

China’s BYD launches assembly of electric vehicles in Uzbekistan

During his state visit to China, on January 25 in Shenzhen, Uzbekistan President Shavkat Mirziyoyev visited the headquarters of Chinese company BYD, a global leader in the manufacturing of new energy vehicles and next-generation batteries. Together with the president of the company, Wang Chuanfu, Mirziyoyev took part in the launch ceremony of a project for

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Business & Economy KZ

Kazakhstan and Indonesia expand business partnership

Ambassador of Kazakhstan to Indonesia Serzhan Abdykarimov on January 23 in Jakarta held a meeting with Vice Chairman of International Relations of the Indonesian Chamber of Commerce and Industry Bernardino Vega. The parties discussed measures to strengthen business contacts between Kazakh and Indonesian entrepreneurs, increase mutual trade, and realize transit-transport potential. Special emphasis was placed

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Business & Economy KZ

Italy’s Eni to build a hybrid power plant in Kazakhstan’s Zhanaozen

On January 18, in Rome, Kazakhstan’s national oil and gas company KazMunayGas and Italy’s Eni S.p.A. signed the Joint Confirmation Agreement on initiation of the Zhanaozen hybrid power plant construction project. The document was signed by Magzum Mirzagaliyev, Chair of the Management Board, KMG and Eni Chief Executive Officer Claudio Descalzi. The signing took place

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Business & Economy UZB

OSCE supports the launch of digital platform for self-employed women entrepreneurs in Uzbekistan

The OSCE Project Co-ordinator in Uzbekistan organized the launch in Tashkent of a digital platform developed by the social start-up Coozin, aimed to further develop women’s entrepreneurship and increase their self-employment skills by using advanced digital technologies. The Coozin start-up was launched in 2020, in the midst of the COVID-19 pandemic. Since then, it has

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Business & Economy KG

Creation of new jobs the main task of Kyrgyz government in 2024

In 2024, Kyrgyzstan must create at least 250 thousand jobs. This is one of the most important tasks of the Cabinet of Ministers for 2024, the Chairman of the Cabinet of Ministers of the Kyrgyz Republic – Head of the Administration of the President of the Kyrgyz Republic, Akylbek Japarov said at the Cabinet meeting

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Business & Economy KZ

Workers of another oil company in western Kazakhstan go on strike

Hundreds of workers at the Velikaya Stena (Great Wall) oil company, owned by a Chinese investor in Kazakhstan’s western Manghystau region, are striking for a pay increase, improved working conditions, and the cancellation of planned layoffs, RFE/RL’s Kazakh Service reported. The workers, who are located in the Caspian port city of Aqtau, told RFE/RL that

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Business & Economy KG

Chinese company to build a waste processing plant in Bishkek

A delegation of the Bishkek municipality, led by Deputy Mayor Jyrgalbek Shamyraliev, visited the city of Changsha in China to get acquainted with the work of Hunan Junxin Environmental Protection Co Ltd, which built a large environmentally friendly waste incineration plant in this city, the press service of the Bishkek municipality said. In November 2023,

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Business & Economy KZ

Kazakhstan: Hundreds of striking oil workers urge president to intervene

Hundreds of oil workers in the western region of Manghystau, who have been on strike for 29 days, issued a video statement on January 8, urging Kazakh President Kassym-Jomart Tokayev to intervene in their situation, RFE/RL’s Kazakh Service reported. The workers of the West Oil Software company went on strike on December 11, demanding the

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Business & Economy KG

FDI in Kyrgyzstan down in 2023

The inflow of foreign direct investment (FDI) into Kyrgyzstan from January-September 2023 compared to the same period in 2022 decreased by 31.7% and amounted to 654.6 million US dollars. At the same time, the inflow exceeded the outflow level by $404.4 million, according to the latest figures from the National Statistics Committee of Kyrgyzstan. From

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