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President Rahmon Invites Qatari Business to Invest in Tajikistan

During his state visit to Qatar on January 22nd, the president of Tajikistan, Emomali Rahmon, held negotiations in Doha with the emir of the state of Qatar, Sheikh Tamim bin Hamad Al Thani. During the meeting, it was proposed to launch joint transport-transit projects in order to expand the logistics networks between the two countries. This will facilitate the transportation of cargo and passengers, as well as transit to other countries, Rahmon’s press service reported. Also on January 22nd, Rahmon met with Qatar’s business community, expressing his views on a broad scope of cooperation opportunities with leading Qatari companies in the fields of agriculture, transport infrastructure, logistics, civil aviation, and tourism. The president emphasized that the government of Tajikistan is ready to support the proposals of investors to establish cooperation in these priority areas. In his speech to the Qatari business community, Rahmon spoke about the current economic situation in Tajikistan and the macroeconomic stability ensured in the country. The president said that Tajikistan’s GDP growth rate in the last 20 years has been more than 7% on average, and in 2023 reached 8.3%, while inflation was 3.8%. “Today, more than 720 public investment projects worth more than USD 13.8 billion are under implementation in our country.” Rahmon said that attracting investments is a priority for the Tajik government, and in this context, vast opportunities for investment have been created, and tax and customs incentives and guarantees are widely applied. According to Rahmon, Tajikistan’s aluminum production and lithium resources provide for favorable conditions for the production of electric vehicles. “That’s the two main types of materials for the production of electric cars available in our country,” he said. The president pointed out that industrial production can be another future direction of cooperation, adding that projects in the light industry, food, metallurgy, machine building, chemistry, production of construction materials and pharmaceuticals are a priority for Tajikistan. Rahmon also mentioned that Tajikistan is rich in mineral resources, with some 800 deposits of minerals, rare and precious metals, including copper, silver, gold, lead, lithium, antimony, nickel, tungsten, vanadium and other rare minerals having been discovered and partially prepared for mining in Tajikistan. The president added that the reserves of food salt in Tajikistan amount to more than 72 billion tons, which is sufficient to meet the consumption needs of all inhabitants of the planet for this product for more than 300 years.

Central Asia Uzbekistan International Affairs Uzbekistan Business & Economy Business & Economy Uzbekistan International Affairs

Forum Of Uzbek Regions And Chinese Provinces Held In Xinjiang

On January 22nd the first Uzbek-Chinese interregional forum was held in the city of Urumqi, in China’s Xinjiang Uyghur Autonomous Region. The forum was attended by heads of key ministries, industry associations, chambers of commerce and industry, companies and more than 1,200 representatives of the business communities of the two countries. The Uzbek delegation at the forum was headed by deputy prime minister Jamshid Khojaev. The Chinese delegation was led by Ma Xingrui, secretary of the Party Committee of the Xinjiang Uygur Autonomous Region. In their welcoming speeches, the heads of both delegations stated that Uzbek-Chinese relations have entered a qualitatively new stage, which became possible thanks to the far-sighted policies of the heads of the two states, the Uzbek Ministry of Investment, Industry and Trade reported. The officials emphasized the positive dynamics of trade and investment partnership, with bilateral trade turnover having doubled and exceeding $14 billion over the past six years. It was noted that all the necessary capabilities are available to increase this indicator up to $20 billion in the coming years. The volume of utilized Chinese investments in Uzbekistan amounted to almost $15 billion. More than 2,000 enterprises with the participation of Chinese capital operate in Uzbekistan. In 2023 more than 60 projects worth almost $2 billion were successfully launched with the participation of Chinese companies, which are becoming leading partners in modernizing the country's industrial sector. Mr Khojaev and Mr Xingrui outlined the further steps to increase cooperation between the two countries, including through direct interaction between regions, emphasizing the importance of regularly holding exhibitions of the industrial and agricultural potential of the regions of Uzbekistan and the provinces of China. The heads of delegations called on business leaders to step up efforts to create high-tech industries based on the competitive advantages of the economies of the two countries, develop industrial cooperation to produce in-demand products and jointly develop new markets, as well as increase the volume of mutual trade. As a result of the forum, 27 documents were signed on the establishment of economic, trade and cultural ties between the regions of Uzbekistan and the provinces of China. In addition, a solid package of 30 agreements and contracts was signed between the business communities of the two countries.

Central Asia Local Politics Kazakhstan Business & Economy Kazakhstan Business & Economy

Kazakh PM Reports On Country’s Economic Results For 2023

On January 22nd Kazakh president Kassym-Jomart Tokayev received the country's prime minister Alikhan Smailov, who reported on Kazakhstan’s economic results for 2023, the presidential press office reported. In 2023 the country's economic growth was 5.1%. Investments in fixed capital increased by 13.7%, to $39.5 billion, while over the first nine months of 2023 $19.7 billion of foreign direct investment was attracted. The number of people employed in small and medium-sized businesses increased by 14% (by 500,000) to 4.3 million people. Inflation was reduced twofold, down to 9.8%. Kazakhstan’s foreign trade turnover last year increased by 2.2% and amounted to $126 billion, with exports exceeding imports by $16 billion. Tokayev was informed that the government fulfilled all its social obligations. Pensions were indexed by 10.5%, and by another 9% since the beginning of this year. Payments to persons with disabilities increased by 23%. The prime minister reported on the implementation of the Unified Pool of Investment Projects. Last year, 298 projects were launched. In 2024 it is planned to implement another 326 projects, including 180 projects in the manufacturing industry, creating 15,000 new jobs.

Central Asia Turkmenistan Turkmenistan International Affairs International Affairs Turkmenistan Business & Economy Business & Economy

Turkmen Foreign Minister Visits Japan, Meets With Business Community

During a working visit to Japan on January 22nd, the Turkmen foreign minister, Rashid Meredov, held a meeting with the chief cabinet secretary of Japan, Yoshimasa Hayashi. They exchanged views on the current state of their countries' bilateral cooperation in priority areas, the Turkmen Ministry of Foreign Affairs reported, as well as prospects for developing ties. Mr Meredov stressed the positive dynamics in cooperation between Turkmenistan and Japan in the political, trade, economic, cultural and humanitarian spheres. The parties focused on the development of trade and economic ties, mentioning a number of successfully completed joint projects in the energy and gas chemical industries. They also identified priorities for further cooperation in the energy, industrial, and investment sectors, as well as in the fields of culture, science, and education. Also on January 22nd, the Turkmen delegation led by Mr Meredov met with representatives of the Japanese business community. It was suggested to invite Japanese companies to produce export goods with high added value in Turkmenistan, as well as to involve small and medium-sized enterprises from both countries in joint projects. Representatives of Japanese companies showed interest in cooperating in the fields of infrastructure and energy transition.

Central Asia Uzbekistan International Affairs Uzbekistan Business & Economy Business & Economy Uzbekistan International Affairs

Uzbek President Mirziyoyev Lauds Strategic Partnership with China

The president of Uzbekistan Shavkat Mirziyoyev will make a state visit to China from January 23rd to 25th, at the invitation of the Chinese president, Xi Jinping. On the eve of the visit, the Chinese People's Daily Online published an article by Mirziyoyev, entitled “Uzbekistan and China: millennia-long friendship and cooperation,” in which the Uzbek leader says that Uzbekistan is a friendly neighbor and committed strategic partner to China, and that the development of multifaceted relations with China has always been one of the main priorities of Uzbekistan's foreign policy. Mirziyoyev wrote that Uzbek-Chinese relations are experiencing the best period in their history, with trade, economic and investment cooperation steadily growing. Last year bilateral trade turnover grew by 40 per cent, Mirziyoyev wrote, with China being Uzbekistan’s “top trade partner”. In recent years the volume of Chinese investments in Uzbekistan has increased five-fold, and the number of enterprises with Chinese capital in various sectors of the economy has tripled. A number of large joint investment projects are underway, spanning sectors including technology, alternative energy, chemicals, mechanical engineering, metallurgy, electrical engineering and infrastructure modernization. Mirziyoyev added that “thanks to our Chinese partners, we are taking important steps in developing green energy to create 27 gigawatts of renewable energy generation capacity by 2030”. Mirziyoyev emphasized that Uzbekistan is actively involved in implementing China's Belt and Road Initiative (BRI), which has become a global consolidating force. “In 10 years, this grandiose idea of the revival of the Great Silk Road has gained supporters in all corners of the planet, uniting two-thirds of the world's countries. Today, from an appealing concept, it is turning into a practical reality. For us, the BRI is not just an infrastructure project. Through the joint implementation of the initiative, the region is becoming an important link in global connectivity, overcoming transport remoteness.” “Today, we can firmly state that the earlier voiced predictions of skeptics about the predestined fate of the region's countries to become only a transit corridor for China's trade with Europe, South Asia and the Middle East failed to come true,” Mirziyoyev stressed. “Today, investments are increasing in Central Asia, with the number of joint high-technology industries growing, enhancing the economic potential of our countries. China's strategic role enables Central Asia to be open to broad cooperation with the rest of the world, turning the region's geographical disadvantages into advantages.” The Uzbek president also said that the first summit between the heads of state of the Central Asian countries and China, held in May 2023 in Xi'an, was a breakthrough in their relations and set out the future development of multilateral cooperation. “This format has huge potential for building a model of comprehensive development of the states of the region and the western provinces of China, opens the prospects for the transition to close industrial and technological cooperation, as well as the development of transport, digital and humanitarian connectivity of the Central Asian countries with China,” Mirziyoyev said.

Central Asia Business & Economy Kazakhstan Kazakhstan Business & Economy

Italian Agricultural Holding Enters Kazakhstan Market

The Italian holding Bonifiche Ferraresi, which produces and markets agricultural products, has signed a memorandum of cooperation with Kazakhstan’s Agrofirm TNK. This was the result of negotiations between the Kazakh minister for agriculture, Aidarbek Saparov, and the management of Bonifiche Ferraresi in Rome last week, the Kazakh Ministry of Agriculture reported. Agrofirm TNK produces agricultural products on 400,000 hectares of land in the Akmola region, northern Kazakhstan. At the first stage of their partnership, the Italian and Kazakh companies intend to exchange experience regarding technology, seeds, and employee training. At the next stage they plan to develop processing, including pasta production. Forty enterprises currently produce pasta in Kazakhstan, the largest of which use durum wheat flour as a raw material, which has a high content of protein and iron. Traditional Italian pasta is made from this type of flour. “Kazakhstan has every opportunity to increase pasta production and exports, since it has its own raw material base. In 2022, Kazakhstan produced 15.6 million tons of soft wheat and 833 thousand tons of durum wheat, of which about 400,000 tons were exported to Italy, which is enough to increase the volume of pasta production, including in order to expand exports,” Mr Saparov said during the negotiations. The minister also told the Italian partners about the favorable investment climate in Kazakhstan, pointing out that investors can directly enter into an investment agreement with the Kazakh government to implement large investment projects, and receive certain benefits and preferences.