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Kyrgyzstan Begins Development of Large Titanomagnetite Deposit

Kyrgyzstan has begun developing its largest titanomagnetite deposit, Kyzyl-Ompol, in the Issyk-Kul region. Speaking at the launch ceremony on September 25, the Chairman of the Kyrgyz Cabinet of Ministers, Akylbek Japarov, emphasized that the state will develop and finance this strategic deposit. "This is a very important event for Kyrgyzstan. The Kyzyl-Ompol deposit contains millions of tons of titanomagnetite. Titanium is valuable in various industries, including medicine, aviation, and space. The development of this deposit will allow us not only to increase exports but also to create new jobs, which will give an impetus to developing the country's economy," Japarov said. Japarov also emphasized the importance of an environmentally friendly approach to the deposit's development, saying that technologies used to extract titanomagnetite will guarantee the safe extraction of associated minerals such as uranium and thorium. Early in June, the Kyrgyz parliament approved a government bill lifting a ban on the mining of uranium and thorium that had been in place since 2019. The move caused environmental concerns in Kyrgyz society, as the country still works on the rehabilitation and conservation of radioactive uranium waste sites left over from the Soviet era. The ban was lifted to start the mining of titanomagnetite, which is accompanied by uranium and thorium. The government plans to process both elements at the Kara-Balta Mining Combine, some 100 km west of Bishkek.

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Kazakhstan and China to Increase Cargo Transportation Along Trans-Caspian Route

On September 25, Kazakhstan and China held the first meeting of a joint working group on cargo transportation along the Trans-Caspian International Transport Route (TITR), also known as the Middle Corridor, connecting China and Europe via Central Asia and the Caucasus. According to Kazakhstan’s Ministry of Transport, the members agreed on the projected volumes of cargo transportation from China to Europe and in the opposite direction along the TITR until the end of 2029. Kazakhstan and China will increase the volume of cargo transportation along the TITR to 600 container trains per year in 2025 and 2026. In 2027, there will be 1,000 container trains, and in 2029, there will be 2,000. Given the increase in transit container trains, the Kazakh side has committed to ensuring the appropriate infrastructure in its Caspian ports to ensure timely transportation and prevent delays. At least 50,000 standard containers will be handled (transshipped) at Kazakh ports in 2025. An increase to 85,000 containers per year is expected for 2026-2029. According to Kazakhstan's Ministry of Transport, in 2023, the volume of transit transportation between China and Europe through Kazakhstan amounted to 2.76 million tons, 65% more than in 2022 (1.7 million tons). Kazakhstan is now working to increase the transit capacity of the Aktau and Kuryk seaports. A container hub will be built in the port of Aktau, increasing transportation volume to 300,000 TEU (twenty-foot equivalent units) per year. A grain terminal will be launched in Kuryk's port later this year. Dredging of the Kuryk port is underway to ensure sufficient depth for ships to enter the harbor. Dredging works are also planned in the port of Aktau. Altogether, these measures will increase the throughput capacity of Kazakhstan’s ports by 10 million tons of cargo annually, to reach 30 million tons annually.

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UNDP Helps Entrepreneurs in Kyrgyzstan Master E-Commerce

More than 50 entrepreneurs from Kyrgyzstan are learning about e-commerce through the "Janyration Sanarip" program, an initiative aimed at supporting micro, small, and medium-sized enterprises in the country, jointly implemented by the government of Kyrgyzstan and the United Nations Development Programme (UNDP), UNDP Kyrgyzstan reports. According to Nazarbek Malayev, Kyrgyzstan’s Deputy Minister of Economy and Commerce, "E-commerce opens up unique opportunities for domestic entrepreneurs to enter international markets, expand their customer base, and improve the competitiveness of their products. The Government of the Kyrgyz Republic is trying to create a favorable ecosystem where digital technologies contribute to business development and improve citizens' quality of life." Since 2019, e-commerce in Kyrgyzstan has been experiencing rapid growth, driven by the development of internet infrastructure and an increase in mobile payment users. However, the sector faces several challenges, such as a lack of consumer trust in online shopping and limited internet access in rural areas, where 60% of the population lives. In response to these challenges, the government launched the E-Commerce Development Program for 2023-2026, aimed at enhancing the competitiveness of local products in international markets and attracting investments. Within this initiative, UNDP provides comprehensive support to entrepreneurs, helping them acquire e-commerce skills and work effectively on global marketplaces. UNDP Resident Representative in Kyrgyzstan, Alexandra Solovieva, commented: "Digitalization is a key factor in bridging the digital divide and accelerating Kyrgyzstan's economic development. E-commerce improves access to services and creates new opportunities for local entrepreneurs. We are confident that the joint efforts of the Government and UNDP will contribute to sustainable and inclusive economic growth, particularly in rural areas where internet access remains limited.” Five hundred forty-two applications were submitted for the program, and entrepreneurs were selected based on several criteria, including having an existing business in Kyrgyzstan and a personal investment of at least 80,000 KGS (almost $1,000). These entrepreneurs, representing key sectors such as garment manufacturing, tourism, honey production, light industry, services, and trade, were selected from all regions of the country. Kyrgyzstan is the world's 96th largest market for e-commerce, with a predicted revenue of more than $359 million in 2024, placing it ahead of Uzbekistan. The country’s e-commerce revenue is expected to grow at a compound annual rate of 13.5% from 2024 to 2028, resulting in a projected market volume of $595.7 million by 2028.

Turkish Influencers to Help Open Kyrgyzstan to the World

A group of popular Turkish bloggers arrived in Kyrgyzstan on September 24 to promote the country’s tourism potential. Meeting the bloggers upon arrival at Bishkek’s Manas International Airport, the airport's chairman Manasbek Samidinov commented: “Today, famous bloggers from the Turkish Republic, followed by millions of subscribers, arrived in Kyrgyzstan. From September 24 to 27, they will get acquainted with our country, explore its natural and cultural attractions, and personally experience the warm hospitality of the Kyrgyz people. The bloggers will show Turkey the best of Kyrgyzstan: our unique nature, culture, and hospitality, contributing to tourism development and opening our country to the world.” On September 13, an agreement was signed to establish twinning relations between the Kyrgyz resort town of Cholpon-Ata by Lake Issyk-Kul and Turkey’s Antalya. The twinning relations between the two resort cities will open up new prospects for interaction in various areas, including investment in tourism and infrastructure projects. Kyrgyzstan is expected to receive more than 10.5 million foreign tourists in 2024, compared to 8.5 million tourists who visited the country in 2023. Around 6.1 million foreign tourists visited Kyrgyzstan in the first eight months of 2024. Most came tfrom Uzbekistan, Kazakhstan, and Russia, followed by visitors from Turkey, China, India, Germany, Pakistan, the United States, and South Korea. The tourism industry accounts for 2.7% of the country's GDP.

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Pathway to Prosperity: Uzbekistan’s Ambitious Plan to Halve Poverty by 2030

A presidential decree, "On taking measures to reduce poverty and increase the population's well-being to a new level," has been adopted in Uzbekistan. Lifting half a million people out of poverty in the remainder of 2024 and a further million in 2025 was defined as the primary task of the state's socioeconomic policy and state bodies and organizations at all levels. The “From Poverty to Prosperity” program will be implemented based on the positive results of poverty reduction from past national experiences and international practices. The program will be implemented from November 1, 2024, based on the doctrine of “Seven Opportunities and Responsibilities for Poor Families.” Within the framework of this program, systematic work is carried out to achieve stable employment and higher incomes, education and vocational training, access to the use guaranteed state medical services, social services, and an overall improvement in living conditions. The “Uzbekistan – 2030” strategy also includes steps to reduce poverty in the country. It was stated that the Ministry of Poverty Reduction and Employment in Uzbekistan will work with Chinese experts and international organizations to develop a strategy for reducing poverty from 2024 to 2030. This will aim to halve poverty by 2026, raise the income of 4.5 million people at risk of falling into poverty by 2030, and lift three million young people out of poverty by utilizing their labor skills. According to data, at the end of 2020, approximately six million people in Uzbekistan lived below the poverty line. While evaluating the results of the transformation programs aimed at solving the problems of poverty, it was noted that in 2023, the poverty rate in Uzbekistan decreased from 17% to 11%, meaning such programs have already helped lift almost two million people out of poverty. It is planned that the poverty level in Uzbekistan will be reduced to 7% in the next three years. This work to reduce poverty has been lauded at the international level. Dr. Ambar Narayan, Manager of the Global Poverty and Equality practice of the World Bank in Europe and Central Asia, for example, has recognized that large-scale work on poverty reduction has been carried out in Uzbekistan since 2020. Naravan believes that prioritizing investment in economic mobility and developing opportunities for vulnerable sections of the population, including youth, women, and inexperienced workers, will help create more productive jobs and reduce hardship. Geoffrey Ijumba, acting head of the UNICEF office in Uzbekistan, has also praised Uzbekistan’s efforts to develop a nationwide action plan to end child poverty. “Prioritizing the problem of child poverty, as well as the development of appropriate measures and programs, will allow Uzbekistan to achieve its goals of reducing poverty, as stated in the ‘Uzbekistan – 2030’ strategy. It will also help achieve the MDG (Millennium Development Goal) targets of ending child extreme poverty and halving it according to the national definition,” Ijumba stated. Global Finance published a list of the poorest countries in the world in 2024 based on the International Monetary Fund's data. Kazakhstan...

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Kyrgyzstan Expands Banking Cooperation with China

The Chairman of the People's Bank of China, Zhang Qingsong, has met with the heads of key ministries in Kyrgyzstan. The parties discussed connecting the National Bank of the Kyrgyz Republic to the Chinese cross-border interbank payment system. Kyrgyzstan's Minister of Finance Almaz Baketaev emphasized the country's interest in using the Chinese payment system and in cooperating with the Bank of China. Currently, only two Kyrgyz commercial banks have correspondent relations with the organization. In addition, the Kyrgyz authorities offered Chinese colleagues the opportunity to invest in securities in Kyrgyzstan, which are placed on the local stock exchange. For this purpose, the country is ready to realize the issue of securities in yuan, but only with guarantees from China. “The Kyrgyz side raised questions about providing guarantees from Chinese financial institutions for the successful placement of securities, as well as the conclusion of an agreement on mutual settlements between the National Bank of the Kyrgyz Republic and the People's Bank of China,” the Ministry of Finance said. According to the National Statistical Committee of Kyrgyzstan, trade turnover between the two countries amounted to about $11 billion for the first six months of 2024, increasing by 40% over last year. At the end of 2023, the figure reached $20 billion.