Eurasian Development Bank Invests $1.2 Billion in Kazakhstan’s Projects This Year
ASTANA – The Eurasian Development Bank (EDB) has invested $1.2 billion in Kazakh projects this year, said Chairman of EDB Management Board Nikolai Podguzov at a Dec. 6 meeting with Kazakh Prime Minister Alikhan Smailov, reported the Prime Minister’s press service. In 2023, the bank plans to allocate nearly $1.1 billion more to the priority…
Kazakhstan is Lithuania’s Major Trade, Economic Partner in Central Asia, Says Lithuanian Minister of Foreign Affairs
ASTANA – Lithuania considers Kazakhstan a leading trade and economic partner in Central Asia, said Lithuanian Minister of Foreign Affairs Gabrielius Landsbergis at a Dec. 7 meeting with Kazakh President Kassym-Jomart Tokayev in Astana, reported the Akorda press service. Welcoming the Lithuanian diplomat, Tokayev called Lithuania a priority partner of Kazakhstan in the Baltic region…
Kazakhstan to Further Reduce State’s Stake in Economy by 2025
ASTANA – The implementation of a large-scale privatization plan will reduce the share of state participation in the economy down to 14 percent by 2025, said Kazakh Prime Minister Alikhan Smailov at a Dec. 6 government meeting, reported the Prime Minister’s press service. Today, the privatization list includes 675 facilities in the public and quasi-public…
Investment Aktobe-2022 Forum Attracts Multibillion Investments Into Region’s Economy
ASTANA – Eight memorandums of cooperation were signed to implement projects worth 2.7 trillion tenge (US$5.7 billion) during the Investment Aktobe-2022 forum on Dec. 6, reported the press service of Aktobe governor’s office. Kazakhstan’s Eurasian Resources Group (ERG) will implement four projects worth 700 billion tenge (US$1.48 billion) by the end of 2025. These include…
Kazakhstan’s Progress in Green Energy Production Spotlighted on Euronews
ASTANA – Kazakhstan’s progress in its green energy transition plan has garnered wide attention from the international media. Recent report by Euronews’ Focus TV magazine presented an in-depth overview of the country’s several tangible projects in renewable energy production. With an ambitious goal – to reach carbon neutrality by 2060, Kazakhstan, in recent years, has…
Kazakhstan Marks International Volunteer Day, 42 Organizations Receive Volunteer of Year Award
ASTANA – Volunteers from 42 organizations, including volunteers from Uzbekistan, received the Volunteer of the Year award during Dec. 5 ceremony in Astana, marking International Volunteer Day, reported the Central Communications Service. “The volunteer sector in the country is developing rapidly. Volunteering is becoming increasingly popular among citizens and organizations. The breadth of current initiatives…
Renewable Energy Facilities Produce 21% More Power This Year
ASTANA – As of October 1 this year, Kazakhstan’s renewable energy sources (RES) facilities generated 2,325 megawatts, 21 percent more than in 2021, Energyprom analytical website reported on Dec. 2. Solar power plants made up almost half the installed power capacity: 49.4 percent or 1,150 megawatts (+11.3 percent in a year). Wind power plants generated…
Greece Considers Kazakhstan a Guarantor of Stability in Central Asia, Says Greek Foreign Minister
ASTANA – Greece considers Kazakhstan the largest and most important country in Central Asia and a guarantor of stability in the region, said Greek Foreign Minister Nikolaos Dendias at a Dec. 5 meeting with Kazakh President Kassym-Jomart Tokayev, reported the Akorda press service. During the meeting, Tokayev and Dendias addressed international and regional issues and…
National Bank Raises Base Rate to Nearly 17 Percent
ASTANA – The Kazakh National Bank’s monetary policy committee has decided to raise the base rate to 16.75 percent per annum with a corridor of +/- 1.0 percentage points on Dec. 5, reported the bank’s press service. The decision is based on external environmental reasons such as the uncertainty of the geopolitical situation and its…
OPEC+ Group Agrees to Keep Oil Output Unchanged
ASTANA – The Organization of Petroleum Exporting Countries (OPEC) and non-OPEC partners, a group of oil exporters called OPEC+, decided to stick to their October plan to reduce output by 2 million barrels per day from November at the 34th OPEC and non-OPEC Ministerial Meeting on Dec. 4, the organization’s press service reported. Kazakhstan’s obligations…
Fitch Affirms Kazakhstan ‘BBB’ Rating, Outlook Stable
ASTANA – Fitch Ratings affirmed Kazakhstan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB’ with a stable outlook on Dec. 2, reported the agency’s press service. “Kazakhstan’s ‘BBB’ IDRs reflect strong fiscal and external balance sheets that have proven resilient to external shocks and financing flexibility underpinned by accumulated oil revenue savings. Set against these…
Swiss Company to Produce Tumor Countering Drugs in Kazakhstan
ASTANA – The Kazakh Healthcare Ministry signed an agreement on Dec. 1 with the Swiss pharmaceutical holding Roche Holding AG to bring the production of innovative drugs that cure tumors to Kazakhstan, reported the ministry’s press service. “We welcome the transfer of Swiss technologies to Kazakhstan, including Roche’s implementation of programs aimed at introducing modern…
Kazakh Foreign Minister Takes Part in 29th OSCE Ministerial Council
ASTANA – In today’s complex geopolitical circumstances, countries must build roads and bridges, not walls and trenches, said Kazakh Deputy Prime Minister, Minister of Foreign Affairs Mukhtar Tileuberdi at the 29th Organization for Security and Co-operation in Europe (OSCE) Ministerial Council in Łódź, Poland, reported the ministry’s press service. Tileuberdi highlighted the importance of continuing…
Two More Kazakh Cultural Traditions Enter UNESCO’s Intangible Heritage List
ASTANA – The Kazakh ancient performing art Orteke and Kozhanassyr’s oral folklore were added to the United Nations Educational, Scientific and Cultural Organization’s (UNESCO) Representative List of the Intangible Cultural Heritage of Humanity during the 17th session of the Intergovernmental Committee for the Safeguarding of the Intangible Cultural Heritage in Rabat, Morocco held on Dec.…
Kazakhstan Metropolitan District Presents Bible Books in Kazakh Language
ASTANA – Three books of the Bible’s – “Solomon’s Parables,” “Psalter,” and “Gospel of Matthew” – all translated to Kazakh, were presented in Almaty on Nov. 30, reported the Kazakhstan Metropolitan District’s press service. Metropolitan Alexander of Astana and Kazakhstan initiated the translation of Bible books into the Kazakh language. “It is impossible to do…
Eurasian Development Bank Forecasts Kazakhstan’s GDP Growth at 4.2 Percent, 486 Tenge per Dollar Exchange Rate in 2023
ASTANA – In 2023, Kazakhstan’s gross domestic product (GDP) growth is expected to reach 4.2 percent, inflation rate to decrease to 7.8 percent and an exchange rate in the range of 486 tenge per U.S. dollar in 2023, according to the Eurasian Development Bank’s (EDB) macroeconomic outlook for 2023, reported the bank’s press service on…
Kazakh President Reaffirms Cooperation with OECD, Wraps Up Visit to France with Bilateral Agreements
ASTANA – The relationship with the Organization for Economic Cooperation and Development (OECD) has always been a priority for Kazakhstan, said President Kassym-Jomart Tokayev at a Nov. 30 meeting with OECD Secretary-General Mathias Cormann in Paris, the Akorda press service reported. “Kazakhstan is keen to maintain ties with the OECD. We are also grateful for…
President Tokayev Approves Action Plan to Implement His Election Program
ASTANA – Newly re-elected President of Kazakhstan Kassym-Jomart Tokayev signed a decree approving the action plan for the implementation of his election program titled Fair Kazakhstan – For All and Everyone. Now and Forever on Nov. 29 , the Akorda press service reported. Tokayev signed the decree following his presidential inauguration on Nov. 26. The…
Trade Turnover Between Kazakhstan and China Grows by 33 Percent, Kazakh PM Reports
ASTANA – The volume of trade turnover between Kazakhstan and China grew by 33 percent over the first 10 months of this year and reached $19.7 billion, said Kazakh Prime Minister Alikhan Smailov during a Nov. 29 video conference with Chinese Premier Li Keqiang. “The heads of our states have set a goal to increase…
Kazakhstan’s National Parks Welcome More Than 1.7 Million Tourists in 10 Months This Year
ASTANA – More than 1.7 million tourists have visited 14 national parks in Kazakhstan over the first ten months of this year, said Deputy Minister of Ecology, Geology and Natural Resources Aliya Shalabekova, on the eve of an eco-trail opening, Tabighatqa Qulaq Sal (Hear Nature), in the Saty gorge in the Almaty Region with UNDP…
President Tokayev Pays Official Visit to France, Reiterates Commitment to Strategic Partnership
ASTANA – Kazakh President Kassym-Jomart Tokayev reiterated the country’s commitment to boost its strategic partnership with France at a Nov. 29 meeting with President of France Emmanuel Macron in Paris, as the President paid an official visit to France, reported the Akorda press service. During the meeting, Tokayev spoke about Kazakhstan’s ongoing political and economic…
Air Seychelles to Launch New Route to Almaty This December
ASTANA – The national airline of the Republic of Seychelles, Air Seychelles, is set to launch a new route, Almaty-Seychelles, on Dec. 26, reported the air carrier’s press service on Nov. 25. The twice-weekly seasonal service will operate until March 27, 2023. The inaugural flight will depart Almaty on Dec. 26, arriving in Mahe on…
Deloitte Report: AIFC Attracts Over $7 Billion of Foreign Investment, Shows Positive Financial Results
ASTANA – According to Deloitte’s Astana International Financial Center (AIFC) 2016-2021 report, the AIFC has received nearly $7 billion in international investment so far, with expectations to attract $10 billion more by 2025, AIFC press service reported on Nov. 25. According to the report, the AIFC and its companies have paid more than 17 billion…
Kazakhstan Develops Alternative Transport Routes, Network of Cross-Border Hubs, Says Minister of Trade and Integration
ASTANA – Kazakhstan is developing alternative transport routes and a network of cross-border hubs, said Kazakh Minister of Trade and Integration Serik Zhumangarin during the 18th Forum of Interregional Cooperation between Russia and Kazakhstan in Orenburg on Nov. 28, reported the Prime Minister’s press office. Zhumangarin focused on the International North-South Transport Corridor (INSTC), which…
Kazakh President Pays Official Visit to Russia, Participates in Interregional Cooperation Forum
ASTANA – Kazakhstan aims to develop stable trade and investment relations with Russia, said Kazakh President Kassym-Jomart Tokayev during the 18th Forum of Interregional Cooperation between Russia and Kazakhstan in Moscow on Nov. 28, reported Akorda press service. Tokayev noted that the direct investment flow from Russia to Kazakhstan exceeded pre-pandemic rates more than three-fold…
