EBRD Contributes to Capital Market Development in Kazakhstan
ASTANA – The European Bank for Reconstruction and Development (EBRD) supported Kazakhstan in establishing a legal framework for cross-border, over-the-counter (OTC) derivatives and repurchase agreement (repo) transactions enabling Kazakh businesses to hedge their currency exchange and interest-rate-related risks better, reported the EBRD press service on Jan. 16. “The adoption of this legal framework is a…
Kazakh President Takes Part in Abu Dhabi Sustainable Week Summit
ASTANA – The world needs more green investments to save the planet, said Kazakh President Kassym-Jomart Tokayev at a Jan. 16 opening ceremony of the Abu Dhabi Sustainable Week (ADSW) Summit 2023, reported Akorda press service. Addressing the event participants, Tokayev thanked the President of the United Arab Emirates (UAE) Sheikh Mohamed bin Zayed Al…
Tokayev Takes Part in Opening of Abu Dhabi Sustainable Week Summit 2023
ASTANA – Kazakh President Kassym-Jomart Tokayev took part in the opening ceremony of the Abu Dhabi Sustainable Week (ADSW) Summit 2023, reported Akorda press service. As part of the summit, Tokayev presented the Zayed Sustainability Prize to the Fundacion Bios Terrae – ICAM Ubate school from Colombia in the Global High Schools nomination. The Zayed…
Kazakhstan Reiterates Its Commitment to Reaching Carbon Neutrality by 2060 at IRENA Assembly in Abu Dhabi
ASTANA – Kazakhstan’s Vice Minister of Energy Zhandos Nurmaganbetov reiterated the country’s commitment to reaching carbon neutrality by 2060, as the Kazakh delegation took part in the 13th session of the International Renewable Energy Agency (IRENA) Assembly in Abu Dhabi on Jan. 14-15, reported the ministry’s press service. Organized by the IRENA, a leading global…
Kazakh President Arrives in UAE for Official Visit
ASTANA – President of Kazakhstan Kassym-Jomart Tokayev arrived in the United Arab Emirates (UAE) on Jan. 15, reported Akorda press service. Не is expected to meet with the President of the UAE Sheikh Mohamed bin Zayed Al Nahyan on Jan. 16 in Abu Dhabi. The two leaders are expected to address the development of the…
Kazakhstan’s National Bank Keeps Base Rate at 16.75 Percent
ASTANA – The National Bank of Kazakhstan announced plans to keep the base rate at 16.75 percent during the Jan. 13 meeting of its Monetary Policy Committee, the bank’s press service reported. The bank highlighted that the decision was made based on the inflation forecasts, which determine the dynamics of internal and external inflationary processes…
Kazakhstan to Deliver 300,000 Tons of Oil to Germany in 2023
ASTANA – The KazTransOil oil transportation company will deliver 300,000 tons of oil to Germany in the first quarter of 2023, the company’s press service reported on Jan. 13. “KazTransOil received confirmation from the Russian Energy Ministry allowing to transport 300,000 tons of Kazakhstan’s oil through Transneft Petroleum Business Company’s main oil pipelines in the…
Kazakhstan’s Multivector Foreign Policy Proves Its Usefulness and Uniqueness, Says Foreign Minister
ASTANA – New challenges complicate the implementation of Kazakhstan’s multi-vector foreign policy, but at the same time prove it is relevant and has no alternatives, said Kazakh Deputy Prime Minister, Minister of Foreign Affairs Mukhtar Tileuberdi during the Kazakh Foreign Ministry collegium on Jan. 12, reported the ministry’s press service. “Taking timely measures to adapt…
Kazakhstan’s Industrialization Program Creates 160 Projects and 15,000 Jobs in 2022
ASTANA – Some 160 projects worth 2 trillion tenge (US$4.3 billion) employed nearly 15,000 people within the industrialization program in 2022, reported the press service of the Ministry of Industry and Infrastructure Development on Jan. 10. The Akmola, Karagandy, Aktobe Regions and the city of Shymkent saw the largest share of all projects, which were…
Kazakh Prime Minister Instructs to Reduce Regulatory Burden on Businesses, Improve Investment Climate
ASTANA – Kazakhstan should reduce the burden on business from law enforcement and regulatory authorities, said Prime Minister Alikhan Smailov, as he laid down instructions to improve the country’s investment climate at a Jan. 12 meeting of the Economic Policy Council in Astana, reported the Prime Minister’s press service. “It is necessary to revise the…
Kazakhstan to Appoint Trade Advisers to Work With UAE, China, Türkiye, India, Iran
ASTANA – Kazakhstan may appoint trade advisers with the United Arab Emirates, China, Türkiye, India, and Iran, said Prime Minister Alikhan Smailov on Jan. 11 as he chaired the meeting of the Trade and Integration Ministry board to discuss the work ahead in 2022 and outline plans for this year, reported the Prime Minister’s press…
Kazakhstan Exceeds Oil Extraction Expectations in 2022
ASTANA – Kazakhstan mined 84.2 million tons of oil last year, which is 1.6 percent more than planned, said Kazakh Minister of Energy Bolat Akchulakov during a governmental session on Jan. 11. The Tengiz oil field mined 29.2 million tons of oil, the Karachaganak oil field mined 11.3 million tons, and the Kashagan oil field…
Kazakhstan’s Government Aims to Reduce Inflation Twofold in 2023
ASTANA – Kazakhstan aims to reduce inflation twofold in 2023 and keep it within 9.5 percent, said Prime Minister Alikhan Smailov during a governmental session on Jan. 11, the Prime Minister’s press service reported. Smailov noted that the government is tasked with working cohesively to achieve a 4 percent economic growth target this year. To…
Kazakh Economy Grows 3.1 Percent Over 2022
ASTANA – The economy of Kazakhstan grew 3.1 percent over 2022, reported the Prime Minister’s press service on Jan. 11. The results of the socio-economic development of Kazakhstan for 2022 were reviewed at a government meeting chaired by the Prime Minister Alikhan Smailov. The real sector, in particular agriculture, and construction, contributed to the economic…
Organ Donation Rates in Kazakhstan Increase By 22 Percent
ASTANA – Organ transplants performed in Kazakhstan increased by 22 percent last year, reaching a total number of 209 surgeries, said Kazakh Healthcare Minister Azhar Giniyat at a Jan. 10 collegium of the Ministry of Health, the Prime Minister’s press service reported. During the first 11 months of the last year, nearly 19,000 services in…
Digital Tenge to Launch in Three Stages by 2025, National Bank Governor Says
ASTANA – The digital tenge will be launched in three stages until its final implementation in 2025, said Governor of Kazakhstan’s National Bank Galymzhan Pirmatov in his interview with the Egemen Kazakhstan newspaper published on Dec. 29. The digital tenge will be used for social payments and public procurement in the first stage. The bank…
Plastic Bottle Recycling Plant in Turkistan Region Doubles Its Production Volume
ASTANA – Green Technologies Industries’ recycling factory in the Turkistan region has doubled its production volume over the past six months, producing up to 2,000 tons of secondary raw materials from discarded plastic bottles, according to a Tengrinews report from Jan. 10. According to the company director Aidyn Ibragimov, the plant’s products are 100 percent…
China Lifts Coronavirus Restrictions on Kazakhstan’s Border
ASTANA – China lifted coronavirus restrictions on the border with Kazakhstan on Jan. 10, reported the press service of the Kazakh Finance Ministry. “The Chinese side intends to return to the pre-pandemic mode of admitting vehicles, allowing their entrance to the territory of China. The drivers are required to have visas and PCR tests. Their…
Kazakhstan to Introduce Roadmap to Increase Efficiency in SEZs
ASTANA – The Kazakh Industrial Development Committee may introduce the differentiated approach to providing investment preferences in special economic zones (SEZs), as Head of Special Economic and Industrial Zones Department Almat Doskaliyev proposed new ways to increase the efficiency of SEZs during a Jan. 7 meeting attended by Chair of Industrial Development Committee Ilyas Ospanov,…
Kazakh Carriers Increase Share in Global Transportation Market
ASTANA – Kazakh carriers increased their share in the international transportation market by 7 percent, reported the Transport Committee’s press service on Jan. 3. “In 11 months of 2022, cargo turnover through seaports grew by 19 percent compared to the same period in 2021. This figure includes a 24-percent rise in the container traffic and…
Kazakhstan to Approve List of Professions For Foreign Labor Employment
ASTANA – Kazakhstan plans to approve the list of professions in healthcare, education, science, engineering, and IT sectors that will be allowed to attract foreign labor, as the Ministry of Labor and Social Protection published the draft order for public discussion on Jan. 5. The document will be available for discussion until Jan. 19. Foreign…
Turkistan Region of Kazakhstan Ready to Open Giant Manufacturing Plant, Expand Production of Domestic Products
ASTANA – The Turkistan Region’s production sector is set to expand its range of manufactured domestic products, as the construction of another manufacturing giant Sastobe Innovation Complex worth 122.8 billion tenge (US$262 million) is now well underway. Akim (Governor) of the Turkistan Region Darkhan Satybaldy visited the plant’s construction site, the completion of which is…
Kazakhstan’s National Fund Assets Reach $61 Billion
ASTANA – As of January 2023, the assets of the National Fund reached 28.6 trillion tenge (US$61 billion), 613 billion tenge (US$1.3 billion) more than last year’s figures, reported the Finance Ministry’s press service on Jan. 5. In 2022, the fund collected a record revenue of 6.4 trillion tenge from the oil and gas sector.…
Kazakhstan Launches Digital Family Map for Social Support
ASTANA – The Digital Family Map (DFM) to facilitate social support for citizens started its operation on Jan. 1, reported the Kazakh Ministry of Labor and Social Protection on Jan. 5. Integrated with the Smart Data Ukimet analytical system, which provides economic, social, housing, health, and education data, the DFM contains information on 19.5 million…
Astana Hub Welcomes Its 1,000th Participant, Continues to Promote Export of IT Products
ASTANA – The Astana Hub International Technopark of IT startups registered 200 foreign IT companies in 2022, bringing the total number of Astana Hub residents to 1,000 with an overall annual revenue of over 200 billion tenge (US$426.5 million), said Astana Hub CEO Magzhan Madiyev, as reported by the Jibek Joly TV channel on Jan.…
