Articles by Aida Haidar

EDB Unveils $500 Million Sukuk Issuance Plan to Boost Islamic Finance in Central Asia

MARRAKECH — The Eurasian Development Bank (EDB), a multilateral institution in Central Asia, has unveiled its plan to issue $500 million worth of sukuk in international markets. This was announced in a statement by the EDB on the sidelines of the International Monetary Fund and World Bank Annual Meetings in Morocco on Oct. 11. Sukuk…

IMF: Kazakhstan’s Economy Displays Resilience, Surpassing 2023 Growth Projections 

MARRAKECH — The latest International Monetary Fund (IMF) World Economic Outlook (WEO), unveiled on Oct. 10, provided a 0.3 percentage points upward revision for Kazakhstan’s 2023 real GDP growth, forecasting it at 4.6%.  This is more than IMF projected in its Regional Economic Outlook for the Caucasus and Central Asia in May.  The growth for…

Mastercard Picks Almaty as Regional Hub in CIS, Central and Eastern Europe

ASTANA — President Kassym-Jomart Tokayev met with Mastercard Executive Vice President Nicola Villa on Sept. 19 in New York, endorsing the company’s decision to choose Almaty as a regional hub in the Commonwealth of Independent States (CIS), Central and Eastern Europe, Akorda press service reported.  In this pivotal role, Almaty will become the epicenter of…

Kazakh President Meets Rio Tinto CEO to Discuss Investment and Mining Expansion

ASTANA — President Kassym-Jomart Tokayev met with Rio Tinto CEO Jakob Stausholm on Sept. 18 to discuss joint investment ventures and the expansion of Rio Tinto’s operations in Kazakhstan during his visit to New York, Akorda press service reported.  Stausholm revealed the company’s intentions to broaden its operations in the country. Specifically, he provided insights…

Kazakhstan to Partner with GE Healthcare to Localize Medical Equipment Production

ASTANA — The Kazakh government and GE Healthcare, an American multinational medical technology company, signed a framework agreement that envisions investments of more than $60 billion across four areas, including localizing medical equipment production, the Akorda press service reported. The agreement was signed during the meeting on Sept. 19 between President Kassym-Jomart Tokayev, who is…

President Tokayev: Religious Leaders Can Help Bring About World Peace

ASTANA — The Jerusalem Post published an opinion piece by President Kassym-Jomart Tokayev on Sept. 14, where he reiterated the indispensable role of religious leaders and the need for a new global movement for peace to build a new international security system. Tokayev wrote that faith plays a significant factor in people’s lives, with 85%…

UN Resident Coordinator for Kazakhstan: We Are Here to Support, Not to Run

ASTANA — Most of the outstanding initiatives launched in Kazakhstan by the United Nations (UN) were undertaken in collaboration with the Kazakh government and organizations, a partnership that has been key to their success, UN Resident Coordinator for Kazakhstan Michaela Friberg-Storey told The Astana Times. “When you ask what the UN does, I am tempted…

Kazakh Auteur Directors Gain Worldwide Fame

ASTANA – The beginning of the second decade of the 2000s marked the turning point for Kazakh auteur cinema. The country launched a reboot of Kazakh art cinema through Kazakhfilm studios, which became the catalyst for realizing Kazakh directors’ unique points of view. With a lineup of films at the Cannes, Berlin, and Venice Film…

President Tokayev Targets $1 Billion in Kazakhstan’s IT Exports by 2026

ASTANA —  In his state-of-the-nation address on Sept. 1, President Kassym-Jomart Tokayev underscored the necessity of boosting Kazakhstan’s IT services exports to $1 billion by 2026, according to the Akorda press service. Tokayev emphasized the country’s remarkable strides in digitalization. He pointed out that the domestic IT industry had increased its export volume fivefold just…

Kazakhstan’s Samruk Kazyna Companies to Target IPO from 2024

ASTANA — President Kassym-Jomart Tokayev announced that companies of the Samruk Kazyna Sovereign Wealth Fund will undertake initial public offerings (IPOs) starting in 2024. The move is part of a broader strategy to reduce the government’s role in the economy, as stated in his state-of-the-nation address on Sept. 1. “The aim is to speed up…

President Tokayev Advocates for Expansive Growth of Creative Economy

ASTANA – President Kassym-Jomart Tokayev advocated in his Sept. 1 state-of-the-nation address for expansive growth in the creative economy, encompassing fields such as media, cinema, music, design, education, and information technology. He also emphasized the need for establishing a legal framework to protect intellectual property, according to the Akorda press service. Tokayev stressed that in…

Kazakh President Calls for Macroeconomic Policy Overhaul to Boost Investment

ASTANA – President Kassym-Jomart Tokayev urged Kazakhstan to revamp its macroeconomic policy to stimulate investment in his Sept. 1 state-of-the-nation address. Delivered at a joint session of both chambers of the Kazakh Parliament, the speech highlighted economic reform priorities, according to the Akorda press service. Tokayev attributed the country’s slow economic growth to insufficient investment,…

OECD: Developing Diversified Private Sector is Key to Kazakhstan’s Economic Sustainability

ASTANA — The key to Kazakhstan’s economic development and sustainability lies in developing a strong and diversified private sector, according to a report by the Organization for Economic Co-operation and Development (OECD). The report, which was dedicated to analyzing the business climate in the country, was released on Aug. 24.  The report stated that to…

Eurasian Economic Union Should Ensure Integration Benefits, Says Kazakh PM

ASTANA — Kazakh Prime Minister Alikhan Smailov emphasized that it is crucial that individuals and businesses within the Eurasian Economic Union (EAEU) firsthand experience the benefits of integration. His comments were made during the Eurasian Intergovernmental Council meeting held in Armenia on Aug. 24, reported the Prime Minister’s press service. The meeting, attended by Kyrgyz…

Famous Travel Reporter Shares Road Trip Discoveries in Kazakhstan

ASTANA – On a visit to her native country to discover Kazakhstan’s endless steppes and rugged mountains, photographer Yulia Denisyuk dived into the country’s rich history and shared her journey in a BBC article. Denisyuk was born in Almaty, the former capital of Kazakhstan, and moved to Estonia when she was just three years old.…

International Canine Federation Recognizes Kazakhstan As Full Member

ASTANA — The world’s canine organization – Fédération Cynologique Internationale (FCI) – recognized the Kazakh Union of Cynologists as a full member, with 72 out of 77 FCI member states voting for the approval of the country’s application on Aug. 22, announced the Head of the Office of Presidential Affairs Aibek Dadebayev on his telegram…

Kazakhstan to Upgrade Existing Venues for Upcoming Fifth World Nomad Games

ASTANA — Kazakhstan will use existing sports venues in the capital for the fifth World Nomad Games, scheduled for September next year, and does not plan to build additional facilities, according to Minister of Labor and Social Protection of the Population Tamara Duisenova. She made the remarks during the Aug. 23 meeting of the game’s…

Kazakh Economy Demonstrates Adaptability While Navigating Global Storm, Says Economy Minister

ASTANA — Minister of National Economy Alibek Kuantyrov outlined the challenges the Kazakh economy faces in light of tense geopolitical realities and how the government is addressing them in an interview with the country’s Kazakhstanskaya Pravda newspaper on Aug. 21. According to Kuantyrov, Kazakhstan has demonstrated adaptability while navigating through the global turbulence resulting from…

Resolving Water Issues Requires Cooperation Between Central Asian States, Experts Say

ASTANA — Over the past few years, the water supply issue for agricultural needs in Central Asia has become acute. In July, water scarcity hit Kazakhstan’s Zhambyl Region, which borders the Kyrgyz Republic, prompting farmers to seek help resolving the issue. Representatives of the countries met in Bishkek, the capital of the Kyrgyz Republic, the…

Kazakh – Kuwaiti Relations Reach New Heights, Says Kuwait’s Ambassador

ASTANA — Kazakhstan and the State of Kuwait celebrated the 30th anniversary of establishing diplomatic relations this year. According to Omar Alkanderi, the Ambassador of Kuwait, who has been serving in Kazakhstan for over a year, Kuwait has supported Kazakhstan’s independence and sovereignty from the beginning. In an interview with The Astana Times, Alkanderi discussed…

Human Trafficking Expert Discusses Kazakhstan’s Progress and Regional Safe Migration

ASTANA — Astana hosted an international conference to strengthen national and international partnerships in the fight against human trafficking marking the World Day Against Human Trafficking on July 30. Rodney Ferguson, President and CEO of nonprofit organization Winrock International, discussed the conference’s key takeaways, Kazakhstan’s progress in combating human trafficking, and Central Asia’s challenges when…

Children’s Book on Kazakh Mythology Reaches Peak Popularity in United States 

ASTANA – The children’s book series “The Adventures of Batu and His Friends” (2014, 2019, 2021) is a work of love for Zira Nauryzbai, a Kazakh mythology researcher, writer, and Ph.D. candidate in philosophical sciences, and for her co-author, Lilya Kalaus. This summer, the first book of the series entered the Amazon Crossing Kid’s bestseller…

UK-Kazakh Relations Expanding in All Directions

ASTANA  – In a little more than three decades, diplomatic relations between Kazakhstan and the United Kingdom (U.K.) have emerged as one of the brightest examples of productive cooperation, expanding into a strategic partnership with a soon-to-be signed Agreement on Strategic Partnership and Cooperation. In its latest analytical piece, Kazinform presents an overview and prospect…

Kazakhstan’s AIFC Court, IAC Build Trust to Attract Foreign Investment

ASTANA — At its dawn in 2018, the Astana International Financial Centre (AIFC) Court and International Arbitration Centre (IAC) aspired to become an exemplary one-stop shop for commercial dispute resolution in the AIFC and the Eurasia region. After five years, both concluded and enforced more than 2,201 cases, including 68 AIFC Court Judgments, 425 arbitration…

German President, Kazakh PM Launch Test Drilling at Huge Green Hydrogen Plant

ASTANA – German Federal President Frank-Walter Steinmeier and Kazakh Prime Minister Alikhan Smailov launched test drilling at a major green hydrogen production plant in the Karakiya district of the Mangystau Region on June 21, the Prime Minister’s press service announced.  The project is being implemented by the German-Swedish company Svevind as part of the Investment…