• KGS/USD = 0.01143 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10593 0.47%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10593 0.47%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10593 0.47%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10593 0.47%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10593 0.47%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10593 0.47%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10593 0.47%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10593 0.47%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%

Viewing results 13 - 18 of 3460

Beyond the Belt and Road: China’s New Playbook in Central Asia

In the Kyzylorda Region, near the town of Shieli, the silos and conveyor belts of a Chinese-backed plant rise out of the fine brown dust that dominates the landscape. It is the kind of project the Belt and Road was supposed to deliver in Central Asia: heavy industry, fixed capital, and a visible mark on the landscape. But it is also a reminder that China’s role in the region has become narrower, more contested, and less sweeping than the old rhetoric suggested. In photographs, the Gezhouba Cement Plant looks like a self-contained industrial island on the steppe. For nearby villagers, it became something else: a source of jobs and local prestige for some, but also of years of complaints about dust clouds and whether the state was quicker to defend a flagship Chinese-backed project than the people living beside it. Projects like the plant in Shieli also help explain why views of China across Central Asia remain mixed. Beijing is seen as a source of trade, investment, and technology, but that promise is tempered in some places by concerns over transparency, environmental costs, and who really benefits when a project arrives. China has become Central Asia’s dominant trading partner, but investment has not kept pace with the surge in commerce. The gap says a lot about how Beijing now works in the region: with a sharper focus on sectors that matter to its long-term influence. In 2025, trade in goods between China and the five Central Asian states reached $106.3 billion, up 12% year on year. Chinese exports to the region totaled $71.2 billion, while imports from Central Asia reached $35.1 billion. Trade has grown fast enough to reshape the region’s external balance, but long-term investment has been far more selective. Over 2005–2025, the five Central Asian states accounted for about 3% of China’s global overseas investment and construction total. The picture changes once direct investment is separated from trade and construction contracts. China’s FDI stock in the five Central Asian states stood at about $36 billion by mid-2025. Roughly 90% was concentrated in Kazakhstan, Uzbekistan, and Turkmenistan. The structure of that capital has also changed. Extractive industries still accounted for 46% of the portfolio, but manufacturing and energy together made up more than one third, and greenfield projects rose from 43% to 60%. China has not poured money into Central Asia on the scale once implied by early Belt and Road rhetoric. Instead, it has invested in sectors that strengthen its industrial position. Kazakhstan remains at the center of this relationship. It is China’s biggest commercial partner in Central Asia, and the main destination for Chinese capital in the region. Kazakhstan-China trade reached $43.8 billion in 2024. The country’s portfolio of projects with Chinese participation includes 224 ventures worth about $66.4 billion. Some are still at the planning stage, but the range of projects is telling. Recent developments have included a hydrogen energy technology innovation center in Almaty and a large wind farm with electricity storage. Kazakhstan still sells...

Horses, Eagles, and Fire: The Steppe Awakens as the 2026 World Nomad Games Return to Kyrgyzstan

On the shores of Lake Issyk-Kul, where mountains drop sharply into the water, and horses and cars are found in almost equal measure, Kyrgyzstan will host the World Nomad Games 2026 from August 31 to September 6, with The Times of Central Asia reporting from the ground. Since their launch in 2014, the Games have grown well beyond their origins, drawing competitors and audiences from across the world. This year’s emblem, the snow leopard, captures that idea with unusual precision. It has been adopted as the national symbol of Kyrgyzstan in recent years and has long been central to the country’s conservation diplomacy, including its role in establishing October 23 as International Snow Leopard Day. Presented as a representation of strength, clarity, and endurance, it reflects both the terrain and the mindset that fortifies the event. [caption id="attachment_46882" align="aligncenter" width="1280"] Image: International Secretariat of the World Nomad Games[/caption] The Games have expanded beyond the region, but are now returning home again. Kyrgyzstan hosted the first three editions before they went to Turkey in 2022 and Kazakhstan in 2024. Their homecoming now carries greater international weight, reinforced by UNESCO’s support, recognizing their role in preserving intangible cultural heritage. This year’s experience is mostly set in the Issyk-Kul region, around three hours from Bishkek, where the mountainous landscape will form the backdrop to the lakeside venues. The opening and closing ceremonies are scheduled to take place in the capital’s Bishkek Arena. In Cholpon Ata, the hippodrome will host horse racing and Kok Boru, while the nearby sports complex stages wrestling competitions. The Rukh Ordo Cultural Center brings together strength events and traditional tournaments alongside parts of the cultural program. In Kyrchyn, the Ethno Village will become the core of the experience, where archery, falconry, crafts, performances, and food sit within a setting that reflects nomadic life. [caption id="attachment_46886" align="aligncenter" width="2560"] Kok Boru at the Bishkek Hippodrome, 2014; image: Stephen M. Bland[/caption] Forty-plus sports disciplines will be spread across competitive and demonstrative formats, with more than 100 medals at stake. Kok Boru is fast and unforgiving, played on horseback as riders grapple over what was traditionally a headless goat carcass (now a synthetic dummy or serke), surging and colliding before hurling it into the opponent’s goal. [caption id="attachment_46885" align="aligncenter" width="1280"] Image: International Secretariat of the World Nomad Games[/caption] Horseback archery demands precision under movement, with riders standing in the stirrups or twisting at full gallop to fire arrows at distant targets. Eagle hunting illustrates a partnership between human and bird refined over generations, as trained golden eagles launch from the arm to track and strike prey across open ground. [caption id="attachment_46887" align="aligncenter" width="1200"] Woman with a bird of prey, World Nomad Games, Astana, 2024; image: Stephen M. Bland[/caption] Wrestling styles such as Alysh and Kurash emphasize balance and control rather than brute force, with fighters gripping belts and using timing, leverage, and footwork to unbalance their opponent. The Times of Central Asia spoke with the International Secretariat of the World Nomad Games to...

Minister Sydykov on the Bakai Bank Verdict and Kyrgyzstan’s Economic Path Forward

On April 13 in Washington, D.C., The Times of Central Asia’s Javier M. Piedra spoke with Kyrgyzstan’s Minister of Economy and Commerce, Bakyt Tolomushevich Sydykov, regarding the April 7 verdict in the “Bakai Bank vs. Open Dialogue Foundation” case before the Enterprise Court of Brussels - an important legal win for Kyrgyzstan and its stance in international financial markets. In a verdict with international implications for Kyrgyzstan and the region, the Enterprise Court of Brussels sided with Bakai Bank, a Kyrgyz financial institution, in connection with a high-profile defamation case between Bakai Bank and Open Dialogue Foundation (ODF) – finding that ODF published allegations about the bank’s financial conduct without sufficient evidence. The judgment marks a significant development in a cross-border reputational and financial dispute, setting a visible bar for accountability and offering a more balanced snapshot of Kyrgyz efforts to cultivate transparency and compliance in its banking sector. Kyrgyz government officials responded to the ruling with a practical and positive outlook, acknowledging that the country has prioritized policy, monitoring, and enforcement steps to bolster integrity and trust in its institutions. This ruling is expected to reinforce public confidence and strengthen the long-term resilience of Kyrgyzstan’s governance framework. In Washington D.C. this week, Sydykov told TCA that, “We welcome this decision not just as an affirmation of Bakai Bank, but also for our broader financial system. It helps to convey our message to policymakers, diplomats, investors, and partners that Kyrgyzstan is open for business – and a ready contributor to regional and international trade. Our financial institutions operate in line with international standards, compliance expectations, and responsible governance. We are glad to move forward with strengthening our banking system and growing Kyrgyzstan’s economy for the benefit of its citizens.” Case background The proceedings were brought before the French-speaking Enterprise Court of Brussels (Tribunal de l’entreprise francophone de Bruxelles) after Bakai Bank challenged a series of publications issued by the Open Dialogue Foundation in 2023. The NGO had alleged that Bakai Bank was involved in facilitating financial transactions linked to sanctions circumvention and networks connected to Russian capital flows following the expansion of Western sanctions in early 2022. Bakai Bank rejected these allegations as unsubstantiated and damaging to its international reputation and access to financial markets. It subsequently filed a civil action in Belgium, where the ODF is active and publishes much of its advocacy material. Court proceedings and findings In its judgment, the Brussels court examined whether the Open Dialogue Foundation had sufficient factual grounds to support its published claims. The court found that the NGO’s statements were presented as factually assertive allegations rather than opinion or conjecture, thereby requiring a higher evidentiary threshold. The court concluded that the ODF had failed to provide adequate supporting evidence for its assertions regarding Bakai Bank’s alleged involvement in illicit financial activity. As a result, the court determined that the publications were unlawful in their form and impact, particularly in relation to reputational harm inflicted on the bank. The ruling ordered the ODF...

Uzbekistan’s Islamic Civilization Center Enters Guinness World Records as Largest Museum

The Center of Islamic Civilization in Uzbekistan has been officially recognized as the world’s largest museum dedicated to Islamic civilization, receiving a Guinness World Records title on April 13. The recognition was confirmed by Guinness World Records adjudicator Şeyda Subaşı Gemici, who attended the ceremony alongside project architects, designers, and members of the Center’s Scientific Council. The award followed a detailed verification process. The recognition comes as Uzbekistan continues to invest in large-scale cultural infrastructure as part of a broader effort to present its historical narrative and reshape its international image. “As an official Guinness World Records adjudicator, I can state that every corner of the museum and every exhibit possesses its own uniqueness and cultural value,” Gemici said. “The evaluation process strictly followed established procedures… every exhibit was recorded and verified by specialists in Islamic archaeology, art, and science.” She added that the scale and depth of the project left a strong impression, describing it as “an outstanding achievement” and, in Guinness terminology, “Officially Amazing.” The Center is a large-scale scientific, educational, and museum complex initiated in 2017 under the leadership of President Shavkat Mirziyoyev and completed on March 17, 2026. It was conceived as a platform combining research, cultural heritage, and modern technologies, aimed at showcasing the history and contributions of Islamic civilization. The project reflects a wider policy under Mirziyoyev of positioning Uzbekistan not only as a historical center of Islamic scholarship but as a modern platform for its study and interpretation. Chief architect, Abdukakhor Turdiev, said the project reflects Uzbekistan’s historical and cultural legacy. “The uniqueness of the Center lies in the fact that its architecture reflects the rich culture and heritage of Uzbekistan,” he said, adding that the country is increasingly positioning itself as an active participant in global cultural dialogue. Across Central Asia, governments have increasingly used large cultural projects to reinforce national identity and attract international attention, but Uzbekistan has placed particular emphasis on linking heritage with scholarship and global engagement. According to officials, the complex has quickly become one of the most visited cultural sites in the region, receiving up to 5,000 visitors daily, including both locals and international tourists. That scale suggests the Center is intended not only as a museum, but as a flagship institution shaping how both domestic and international audiences understand the region’s intellectual and cultural history. Director Firdavs Abdukhalikov described the award as recognition of years of work by hundreds of specialists. He said the Center’s primary goal is to support scientific and educational projects while preserving and promoting Uzbekistan’s cultural heritage. Beyond its record-setting size, the Center reflects Uzbekistan’s broader effort to reclaim and reinterpret its place in the history of Islamic civilization. By combining scholarship, state backing, and public accessibility, it positions cultural heritage as both a foundation of national identity and a tool of international engagement.

Central Asia’s Climate Risks Could Cost Up to 130% of GDP by 2080

By 2080, climate change is expected to have a profound impact on the economies of Central Asian countries, with potential losses ranging from 20% to 130% of GDP. The most severe effects are projected for mountainous nations. These estimates were presented at a CAREC technology forum by Iskandar Abdullaev, a senior research fellow at the International Water Management Institute in Uzbekistan. According to Abdullaev, climate change is no longer solely an environmental issue but an increasingly significant economic factor. Key risks include droughts and water scarcity, floods, heatwaves, and glacier melt. The projected economic impact varies across the region. Tajikistan could face losses of between 80% and 130% of GDP, Kyrgyzstan 70% to 120%, Kazakhstan 40% to 80%, Uzbekistan 30% to 45%, and Turkmenistan 20% to 60%. Abdullaev emphasized that mountainous countries – Tajikistan and Kyrgyzstan – are particularly vulnerable, as climate change directly affects water resources. Glacier melt reduces river flows, creating challenges for both energy production and water supply. Droughts and extreme heat are already placing pressure on agriculture, with declining crop yields and reduced pasture productivity. Without adaptation measures, the region’s long-term sustainability could be at risk. Experts stress that mitigation and adaptation efforts are essential to reduce these risks. These include modernizing irrigation systems, adopting climate-resilient agricultural technologies, and expanding renewable energy capacity. This is not the only warning. According to the World Bank, natural disasters are already causing significant economic damage in Central Asia.  Losses from extreme events, including floods and earthquakes, can reach up to 6% of GDP, with earthquakes alone accounting for up to $2 billion in damages. At the same time, countries in the region face substantial financing gaps following major disasters. In Tajikistan, this gap could reach up to $1.5 billion. Experts warn that climate change is likely to intensify these risks, further increasing the economic burden on the region.

Kazakhstan Appoints Operator for Karachaganak Gas Processing Plant Construction

Kazakhstan has identified the participants in a project to construct a new gas processing plant (GPP) at the Karachaganak field, aimed at supplying the domestic market with commercial gas. The national company QazaqGaz will act as the single project operator, while China’s CITIC Construction has expressed readiness to participate. Initially, the launch of the GPP, with a capacity of up to 4 billion cubic meters of gas per year, was scheduled for 2028. Construction was to be carried out by Shell and Eni, both involved in developing the Karachaganak field in the West Kazakhstan region. However, in March 2026, Kazakhstan withdrew from this arrangement due to significant cost overruns and disagreements over implementation terms. At present, gas from Karachaganak is processed at the Orenburg GPP in Russia. Kazakhstan aims to relocate processing to its own territory to strengthen energy security and reduce dependence on external infrastructure, particularly amid periodic disruptions linked to drone attacks. According to current plans, the capacity of the future plant may be increased to 5 billion cubic meters per year. The project is a key element of Kazakhstan’s Comprehensive Gas Industry Development Plan through 2029 and is being implemented on the instructions of President Kassym-Jomart Tokayev. Minister of Energy Yerlan Akkenzhenov confirmed that the selection of QazaqGaz as the single operator is driven by the need to move quickly to the implementation stage and by the company’s experience in managing gas infrastructure. The project’s economic feasibility has been confirmed, and a framework agreement outlining basic principles of cooperation has been signed with CITIC Construction.  Preparations are currently underway for the FEED (Front-End Engineering Design) stage, while issues related to land allocation, infrastructure, and feedstock supply are also being addressed. Particular attention is being paid to negotiations with foreign shareholders in the Karachaganak project. Key issues include guaranteed supplies of raw gas, establishing a pricing mechanism that ensures domestic market viability, integrating the plant with existing field infrastructure (brownfield), and resolving the gas evacuation fee mechanism. “For Kazakhstan, this plant is of critical importance, and indefinitely postponing the project’s start is unacceptable. The state needs results. The project must be implemented dynamically and in strict accordance with our national economic interests,” Akkenzhenov said. The project is unfolding against the backdrop of legal disputes between Kazakhstan and international energy companies.  As previously reported by The Times of Central Asia, Shell and Eni may ultimately be required to pay the Kazakh government between $2 billion and $4 billion following international arbitration proceedings in London. In addition, similar disputes are ongoing over another major project, the Kashagan field, where proceedings are being considered at the International Centre for Settlement of Investment Disputes in Washington.