Articles by Assel Satubaldina

As cryptocurrencies continue to proliferate globally despite ongoing skepticism to their viability, Kazakhstan is making plans to attract 300 billion tenge (US$738.4 million) of investments in the next three years from cryptocurrencies and from investing in digital mining, said the Kazakh Minister of Digital Development, Innovation and Aerospace Industry Askar Zhumagaliyev as he addressed the…

A gradual recovery in the price of oil that plummeted to record low levels in March and reverberated throughout the global economy is still the main factor shoring up the value of the Kazakh national currency, said Deputy Chair of National Bank Aliya Moldabekova, as reported by Kapital.kz.  In March, the tenge weakened to a…

Kazakhstan’s gold and foreign exchange reserves reached a record high since 2017 amounting to $31.5 billion, said National Bank Deputy Chair Aliya Moldabekova. In May alone, the reserves grew by $950 million.  “The growth in our gold reserves is stimulated by an increase in foreign currency. Assets in free convertible currencies went up by more…

The European Union, the Organisation for Economic Cooperation and Development (OECD), and the Kazakh government organized a webinar in early June to discuss measures to address the challenges posed by the aftermath of the COVID-19 pandemic that the Kazakh economy faces and the nation’s recovery plan, as well as to share the experience of the…

Similar to other global economies that suffered a serious slump worldwide as a direct consequence of the pandemic, economic growth in Kazakhstan fell by 1.7 percent since January compared to the same period in 2019, when the economy clocked in at a remarkable four percent growth, said Kazakh Prime Minister Askar Mamin as he briefed…

The QazTrade trade policy development center recently launched an export accelerator program to help domestic exporters expand their export development opportunities with an intensive coaching seminar from experts and business consultants. The first stage of the program will focus on getting agriculture and food producers out onto the world markets, exporting their goods. The center…

Kazakhstan plans to bring the share of investments in the country’s gross domestic product (GDP) to 30 percent in the next five years, said Kazakh Minister of National Economy Ruslan Dalenov.  “Investments are a basic condition of economic growth and they improve the welfare of the population. The pool of investment projects was formed for…

NUR-SULTAN – Whether it is the effect of the pandemic or the early arrival of warm weather, one can see more people cycling on the streets of Nur-Sultan and people flocking to bike stores to join in the new trend. One thing is clear – the rising popularity of sports culture is definitely a good…

Kazakhstan is considering the possibility of resuming international flights. On June 1, the governmental commission on the prevention of the spread of coronavirus allowed to explore the proposal to resume flights to South Korea, China, and Azerbaijan. “Why these three countries? First, the assessment was based on the COVID-19 epidemiological situation. There is an international…

In Kazakhstan, cities celebrated the Day of State Symbols on June 4. The symbols are tokens of nationhood and independence, conveying the meaning of the nation’s history, traditions, and ideals which unite the diverse population of Kazakhstan. You may not think of national symbols often, but whenever you hear the anthem or hold a flag,…

World Bank experts announced that the agricultural sector could help the five countries of Central Asia to stabilize their economies during and after the pandemic. Though the pandemic did not destabilize global food supply chains, its consequences can still undermine food security, agriculture, and trade in agriculture products in Central Asia, said World Bank’s Senior…

Kazakhstan celebrated June 1 as International Children’s Day with a range of festivities and online activities.  Kazakh President Kassym-Jomart Tokayev also congratulated his fellow citizens.  “This occasion reminds us of all adults’ responsibility for the well-being, health, and safety of the growing generation. Every child in our country deserves love, joy, and happy childhood!” wrote…

June 1st in Kazakhstan gave many a reason to celebrate not only because of the long-awaited arrival of summer but also because of the ease-up of the lockdown in the country, as Kazakhstan took down police checkpoints that restrained movement between the regions and allowed gyms and kindergartens to begin reopening at limited capacity.  While…

The mandatory lockdowns have forced people in Kazakhstan to spend more time online. Internet providers, as a result, have generated the huge sum of 102.7 billion tenge (US$247.9 million) among other telecom services between January and April in Kazakhstan, growing from 90.6 billion tenge (US$217.9 million) in the same period in 2019, according to FinProm…

The armed forces should be given more opportunities to pursue vocational training, said Kazakh President Kassym-Jomart Tokayev during the third meeting of the National Council of Public Trust. “In addition to fulfilling one’s military duty, military service should instill a certain set of professional skills that can be used later on in life,” said Tokayev.…

On May 27, Kazakh President Kassym-Jomart Tokayev proposed a major reshuffle of the nation’s education system as he chaired the third meeting of the National Council of Public Trust focusing on the development of human capital in Kazakhstan. The 44-member council was established in July 2019 to tackle some of the country’s most acute issues.…

Kazakh President Kassym-Jomart Tokayev warned citizens to take all necessary precautions amid the pandemic and instructed the government to address the growing number of COVID-19 cases, as the country continues to ease lockdown restrictions.  “Lockdown measures are not being followed in cities, which leads to an increasing number of coronavirus cases. The government, regional akims…

As the Holy Month of Ramadan came to an end, Muslims around the world, and in Kazakhstan, celebrated Eid al-Fitr, also known as Eid, on Sunday May 24. But while the world is still struggling to curb the pandemic, this year’s Ramadan, which started April 24 and ended May 23, and Eid, brought a very…

As the Holy Month of Ramadan came to an end, Muslims around the world, and in Kazakhstan, celebrated Eid al-Fitr, also known as Eid, on Sunday May 24. Kazakh President Kassym-Jomart Tokayev congratulated his fellow citizens on the occasion.  “Oraza Ait (Eid al-Fitr in Kazakh) embodies kindness and blessing, a continuation of the Holy Month…

The official fan club of popular Kazakh singer Dimash Kudaibergen, or Dimash, as he is known to millions of his fans throughout the world, planted 2,780 trees in northwestern China to celebrate Dimash’s birthday on May 24 as part of China’s Million Forest effort.  Dimash was trained in classical and contemporary music and has become…

Kazakhstan will lift agricultural export restrictions and quotas starting June 1, said Kazakh Agriculture Minister Saparkhan Omarov. Kazakhstan, the world’s top wheat producer, introduced wheat and flour export quotas in March at 200,000 tonnes and 70,000 tonnes respectively to ensure domestic supply amid the pandemic and banned export of buckwheat, white sugar, potatoes, onions, garlic,…

Kazakhstan is committed to cutting its oil production by 390,000 barrels a day as part of the newly-minted agreement between the Organisation of the Petroleum  Exporting Countries (OPEC) and its allies, known as OPEC+, which includes Kazakhstan. In April, OPEC and the OPEC+ nations agreed to a historic 10 million barrel per day production cut…

Kazakh President Kassym-Jomart Tokayev and the United Nations Secretary-General Antonio Guterres hosted a teleconference to discuss practical measures taken by Kazakhstan and the United Nations to tackle the pandemic.  Tokayev praised the UN Secretary-General’s active actions to ease the negative impact of the pandemic on national healthcare systems and stressed the central role of the…

Nineteen renewable energy projects worth $1.1 billion are now officially on the docket for Kazakhstan’s latest effort to go green and diversify its energy supply. Nine projects will be launched by December supported by Kazakh Invest, which is the main company responsible for overseeing the country’s investments and assisting investors who want to get involved…

Kazakh President Kassym-Jomart Tokayev turned 67 years old on May 17, and had to celebrate his birthday under lockdown. “Media representatives kept asking me to share details about how the President would celebrate his birthday. This year, May 17 falls on Sunday so Kassym-Jomart Tokayev will work from home. There will be no events. The…