COSCO Shipping to invest in Khorgos-Eastern Gate free economic zone
ASTANA – The world’s largest marine and logistics operator COSCO Shipping plans to invest in the development of Khorgos-Eastern Gate Special Economic Zone (SEZ) located on the border between Kazakhstan and China. Kazakhstan Temir Zholy (KTZ) signed on May 15 an investment agreement with COSCO Shipping Corporation and Lianyungang port on the joint development of…
Kazakh scientist creates unique catalyst for oil
ASTANA – PhD and Senior Lecturer of the Kazakh National Research Technical University (KazNITU) and the Kazakh-British Technical University (KBTU) Khadichakhan Rafikova has discovered a greener form of rhodium-iridium catalysts for oil refining. “Today, we have a task to find a new efficient catalyst for petrochemical and organic synthesis processes in Kazakhstan that meet the…
EBRD finances irrigation in Aktobe, Zhambyl and South Kazakhstan regions
ASTANA – Climate change is affecting rainfall and water availability in Kazakhstan. The European Bank for Reconstruction and Development (EBRD) is joining a strategic programme to significantly upgrade irrigation systems in the nation and is planning to provide $180 million for the project together with the Kazakh government, which will add $21.4 million from the…
Military parade commemorates Fatherland Defenders’ Day, Victory Day marked
ASTANA – Kazakhstan held the largest military parade in the nation’s history in Astana’s Independence Square May 7 to celebrate the 25th anniversary of the establishment of the country’s Armed Forces. The celebration was part of Defender of the Fatherland Day in the lead up to the May 9 Victory Day. “Dear participants of the…
Kazakhstan develops road safety plan, fatalities decline
ASTANA – The Ministry of Internal Affairs has developed a national concept for road safety until 2020 to reduce accidents and increase enforcement. “Your recommendations are important for us and we used them for the development of the National concept of road safety in the country until 2020. Now it is being coordinated with state…
Fitch Ratings affirms Kazakhstan’s BBB rating
ASTANA – Fitch Ratings has confirmed Kazakhstan’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR), evaluating it at BBB with stable outlooks. The issue ratings on the state’s senior unsecured foreign-currency bonds have also been confirmed at BBB and the Short-Term Foreign- and Local-Currency IDRs have been affirmed at F2. The rating agency considers the…
South Korea inspects its EXPO 2017 pavilion, will showcase latest energy technology
ASTANA – President and Chief Executive Officer of the Korea Trade-Investment Promotion Agency (KOTRA) Jaehong Kim and Astana EXPO 2017 national company Chairman Akhmetzhan Yessimov agreed to cooperate on the event during an April 19 visit to the expo site. Kim visited the site to check on construction of the Korean pavilion. “The Korean pavilion…
ADB forecasts growth of Kazakh economy
ASTANA – The Asian Development Bank (ADB) released its forecast for the economic situation in Kazakhstan for 2017, projecting the country’s economic growth will accelerate as a result of state programmes aimed at stimulating consumption and investment. “The measures taken by the authorities to solve the existing problems in the banking sector are an important…
Kazatomprom, Areva to strengthen uranium mining cooperation
ASTANA – Kazakhstan’s national atomic company Kazatomprom and French company Areva signed April 10 in Astana a major agreement to strengthen cooperation in uranium mining in Kazakhstan. The agreement creates new opportunities to develop and enhance KATCO operations. KATCO is their joint venture, 51 percent of which belongs to Areva and 49 percent belongs to…
New Astana airport terminal to open in June
ASTANA – Management of Astana international airport plans to complete construction of a new terminal on May 15 as a part of preparations for Astana EXPO 2017. In the meantime, Qazaq Air is going to buy two new airplanes to increase the capacity of the airport. An official opening and putting into operation of the…
Kazakhstan, Azerbaijan and Georgia sign Trans-Caspian International Transport Route protocol
ASTANA – Kazakhstan, Azerbaijan and Georgia signed a protocol April 1 confirming the regulations on membership in the Legal Entities Union and the composition of the working group on the development of a transport route and its action plan for 2017 at the meeting of the Trans-Caspian International Transport Route (TITR) Association’s Legal Entities Union…
Uranium production legacy in Central Asia tackled with international assistance
ASTANA – A joint mission of the European Commission (EC) and European Bank for Reconstruction and Development (EBRD) visited Kyrgyzstan March 28-31 with the aim of solving the problems the uranium production legacy poses to the country’s environment. Min-Kush, Shekaftar and Mailuu-Suu were defined as top priority sites for environmental remediation. “We appreciate the genuine…
Kazakh government to allocate $190 million for spring field, harvesting operations
ASTANA – The Kazakh government will provide a 60 billion tenge (US$190.4 million) loan from the national budget to finance spring field work this year. The loan is enough to fund up to three million hectares of sown areas. The plan includes financing 1,500 agricultural and industrial company projects, said First Vice Minister of Agriculture…
EBRD appoints new director for Kazakhstan
ASTANA – The European Bank for Reconstruction and Development (EBRD) recently appointed Agris Preimanis its new Director for Kazakhstan, one of the bank’s largest states of operations where it has invested more than $8 billion. The Oxford-trained expert has lived and worked in Almaty since 2014. “This is a critical period for Kazakhstan as the…
Astana International Financial Centre joins Vantage Financial Centres
ASTANA – Astana International Financial Centre (AIFC) has partnered with Vantage Financial Centres (VFC), an exclusive association of international financial centres. The partnership will grant AIFC the privileges of the association and is to boost its profile internationally. The association includes such well-known international financial centres as Tokyo, Toronto, Shanghai, Beijing and Abu Dhabi. Members…
Zhambyl region officials improve infrastructure to facilitate tourism
ASTANA – The Zhambyl region officials have begun to improve the area’s road infrastructure to better facilitate visitation of the region’s many historical and cultural landmarks. “All these facilities are worthy of attracting tourists from all over the world to our region,” said head of the Golden Caravan tourist centre Albina Veimer. Veimer is helping…
EXPO 2017 road shows kick off in Asia, Europe and Middle East
ASTANA – Numerous road shows promoting EXPO 2017 have launched in Astana and will be held across Asian, European and Middle Eastern states. The road shows will provide detailed information about Kazakhstan and its tourism potential, as well as the portfolio of EXPO 2017 tourist routes. Business-to-business and business to consumer events are planned. EXPO…
Kazakh experts improve safety at research reactor
ASTANA – International Atomic Energy Agency (IAEA) experts recently announced that Kazakh scientists have improved the safety of Kazakhstan’s research reactor after that agency reviewed recent modifications. “The research reactor is now starting a new life after major modifications and refurbishment, including conversion from the use of highly-enriched uranium (HEU) to low-enriched uranium (LEU) to…
International brands succeeding, expanding on Kazakh market
ASTANA – Global brands, such as Starbucks and H&M, have entered the Central Asian market and are outperforming some local companies. “H&M will launch an aggressive takeover of Kazakhstan market. It means the rapid opening of brand sales outlets in large areas of stores,” said head of the Business Programme of Central Asia Fashion Milena…
Kazakhstan is fascinating place for freelancers, experts believe
ASTANA – The Heritage Foundation recently rated Kazakhstan 42nd in economic freedom and Numbeo, the international information portal, ranked the nation as the 119th most affordable country in which to live. Freelancing experts confirm the facts. “Kazakhstan has a unique mix of European and Asian influences which makes it a fascinating place for freelancers, not…
Air Astana, Lufthansa passengers can use single code to fly on both airlines
ASTANA – Air Astana and Lufthansa signed March 15 a codeshare agreement to increase from 7 to 14 the number of weekly flights between Kazakhstan and Germany. The increase will take effect March 26. “I’m delighted that the longstanding cooperative relationship between Air Astana and Lufthansa is being further strengthened with the signing of the…
Government to launch additional 410 agricultural cooperatives to assist small farms
ASTANA – Four-hundred-and-ten agricultural cooperatives will be established in 2017 to support small and medium-sized farms. The cooperatives will help farms buy equipment, store and transport products, provide veterinary services, organise the supply of fodder and agrochemical products and help with lending. Vice Minister of Agriculture of Kazakhstan Kairat Aituganov said the programme was launched…
European Investment Bank expected to provide 200 million euro to KazAgro
ASTANA – The European Investment Bank is going to provide 200 million euros to KazAgro to modernise grain storage facilities, purchase agricultural machinery and assist with the production of seeds and livestock breeding, Ambassador of Kazakhstan to the European Union, Belgium and Luxembourg Almaz Khamzayev announced March 9. Khamzayev said KazAgro holding is working with…
Ammunition plant to launch operations in Karaganda this year
ASTANA – Construction of the ammunition factory in Karaganda will be completed in December, according to Kazinform. Construction companies had difficulties with ground water, which caused a delay in construction. “[Groundwater problems] required serious changes in the design of main plant building and its foundation,” said Director of the factory Dauren Arynov. “Now, all the…
Samruk Kazyna calls on investors, international companies for cooperation
ASTANA – The Samruk Kazyna Sovereign Wealth Fund held an event Feb. 27 for nearly 300 representatives of the diplomatic corps, major international companies, banks and investors. Top managers of the fund discussed their development strategy and invited international companies and investors to cooperate. “One of the key fields for investment attraction is implementation of transformation…
