Viewing results 3301 - 3306 of 4092
Kyrgyzstan’s Ministry of Economy and Commerce has signed an agreement with the Belgian agricultural company Ecodynamics to work together on agriculture and livestock farming, and the production, import and export of agricultural products. The agreement was signed during a January visit to Belgium by the minister of economy and commerce Sanzhar Bolotov. During his trip Mr Bolotov visited Ecodynamics and was shown technologies for raising Belgian Blue cows. Mr Bolotov met with the head of Ecodynamics, and the parties agreed to work on breeding the Belgian Blue in Kyrgyzstan. Since the second half of the 19th century this unique breed has been Belgium’s national pride. Belgian Blue cows have a remarkably developed muscle mass and contain a huge amount of meat.
In 2023 Kazakhstan began to focus on sustainable development. Last year’s economic growth was 5.1%, and in 2024 the government forecasts growth of at least 5.3%, the website of the Kazakh prime minister reported on February 5th. All major economic sectors showed positive dynamics in 2023: construction grew by 13.3%, trade by 11.3%, information and communication services by 7.1%, transport services by 6.9%, and industry by 4.3%. Between January and September 2023 the volume of foreign direct investment amounted to $19.7bn, including more than $11bn to non-resource sectors. From January-November 2023 Kazakhstan’s foreign trade turnover increased by 2.2% and amounted to $126bn, with exports exceeding imports by $16bn. The country’s international reserves amounted to $96bn, including the assets of the National Fund that increased by $4bn to over $60bn. Last year inflation fell by more than half, to 9.8%. In 2024 the government’s target is to keep inflation in the range of 6-8%.
A roundtable discussion on Central Asia’s cooperation with the European Union was held on February 2nd at the United Nations Development Programme (UNDP) Office in Brussels, Belgium. The event brought together representatives from UNDP, the European Commission, and ambassadors of Central Asian countries to the EU. The participants discussed ways to boost sustainable economic growth in the region by creating partnerships to ensure a steady supply of critical raw materials, and enhancing the efficiency of the Trans-Caspian Corridor, also known as the Middle Corridor. The participants also emphasized the importance of supporting the transition of Central Asian economies towards environmentally friendly and sustainable systems, in line with their climate commitments on emissions. Katarzyna Wawiernia, the UNDP resident representative in Kazakhstan, emphasized the significance of the Trans-Caspian Corridor and the sustainable development of the Caspian region overall. “We recommend adopting a sustainable landscape management approach for the future development of the Caspian region. In this regard, UNDP, in partnership with the Government of Kazakhstan, is planning a large-scale initiative to promote an integrated ecosystem-based approach to conserve key species and habitats of the Caspian Sea and ensure sustainable economic development for local communities. Throughout its history, the Caspian Sea has been a significant source of biological resources. They make up a single ecosystem that requires strong protection from natural and people-made factors,” Ms Wawiernia said.
On February 2nd in Astana the United States Agency for International Development (USAID) hosted a joint Investment Forum. The event was organized to propose changes to Kazakhstan’s investment legislation, and to highlight important achievements supported by the USAID Kazakhstan Rule of Law Program, run by the American Bar Association Rule of Law Initiative (ABA ROLI). The program has partnered with the Supreme Court of Kazakhstan and the company Kazakh Invest, overseen by the Ministry of Foreign Affairs. Over 50 participants, representing the government, judiciary, business community, investors, and local and international experts participated in the event. The forum was opened by the chairman of the Supreme Court, Aslambek Mergaliyev, who stressed the need for reform in order to attract investors. At the forum, the US Ambassador to Kazakhstan Daniel Rosenblum commented: “Today’s Investment Forum organized by the American Bar Association is yet another example of the long-term and very strong U.S.-Kazakhstan partnership in support of the rule of law, as it relates to economic policy, foreign investment, and the business climate. I am pleased that this forum will be repeated next year as well, providing an ongoing platform for discussions on issues that are important to foreign investors. We also mark the conclusion of the USAID Rule of Law Program in Kazakhstan, which over the past four years has helped improve the legal environment for protecting investments and strengthen the professional development and independence of Kazakhstan’s judiciary.”
The Bishkek thermal power plant has been ordered to completely modernize, after a blast at the aging heat and electricity generating facility left parts of the city without hot water and heating. Three people were seriously injured in an explosion at the plant early on February 2nd. The breakdown forced authorities to declare hot water and heating restrictions in some parts of the city as the plant’s staff worked to repair the damage. Kyrgyzstan’s president Sadyr Japarov visited the plant as work was being done to get the facility back online. In an interview to the Kabar news agency, Mr Japarov said he has given instructions to completely modernize the thermal power plant. “This will require a lot of money, but there is no other way out. We will have to find it [money],” the president said, mentioning that the thermal power plant was launched back in 1961 and its equipment is very outdated. “Despite this, we continue to operate it, repairing it every summer to get through the heating season.” The last major accident at the Bishkek thermal power plant occurred in January 2018. At the time the plant’s breakdown left the city without heating for three days amid freezing air temperatures. Work to modernize the plant commenced in 2014, following a 2013 loan agreement between China’s Export-Import Bank and the Kyrgyz government. China’s Tebian Electric Apparatus Stock Co. Ltd. (TBEA) was granted the contract and modernized the plant for $386 million. Today’s accident occurred in the old part of the power plant that was not modernized. In the interview, Mr Japarov said that instead of partially reconstructing the power plant, it was necessary to completely renovate it or build a new facility.
Agricultural production in Uzbekistan grew by 4.1% in 2023, and agricultural exports reached almost $2bn. This year the country plans to increase exports to $3.5bn. At a government meeting on February 2nd officials reported that 6,000 gardens, over 3,000 vineyards and fields, and 344 packaging enterprises will be brought into compliance with international phytosanitary standards. Exports will be focused on markets with higher purchasing and paying powers. Modern facilities for exporting fruits and vegetables will be created at Fergana, Samarkand, and Tashkent airports. In recent years 620 phytosanitary permits have been received for the export of agricultural products to 80 countries. As part of the EU’s GSP+ trade preference system, 200,000 hectares of farmland in Uzbekistan have been brought into compliance with international standards.
