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Chinese Investment

Tajikistan’s Rahmon Seeks Deeper Economic Ties During China Visit

More than 700 companies with Chinese capital are operating in Tajikistan, and about 12.5% of the nearly $7 billion in foreign investment that entered the Central Asian country’s economy last year came from China, according to Tajikistan’s presidency. Tajikistan’s President Emomali Rahmon shared the data after arriving in Beijing on Monday to push for even closer economic ties with China, which surpassed Russia last year to become Tajikistan’s largest trading partner. The Chinese Foreign Ministry said Rahmon was making the May 11-14 trip at the invitation of President Xi Jinping, who will then host U.S. President Donald Trump from May 13 to 15 China is expanding economic projects and investment across Central Asia, and the rapid pace of development is evident in numerous initiatives currently underway in Tajikistan. Last month, government and industry officials from the two countries met in Dushanbe to discuss “green minerals,” the materials – abundant in Tajikistan – that are used in clean energy technologies such as solar power and electric vehicle batteries. In February, the first container train from China arrived in Tajikistan’s capital after passing through Kyrgyzstan and Uzbekistan on what the Chinese embassy said was a new trade route. “The development of modern transport and economic corridors through Tajikistan linking China and South Asian countries with the Middle East was described as another factor promoting cooperation with neighboring China,” Tajikistan’s presidency said in a summary of Rahmon’s speech in Beijing on Monday. More than 50 agreements were signed between Tajik and Chinese companies during the presidential visit. The deals are projected to attract more than $8 billion in investment to Tajikistan, the presidency said. Despite the escalation in trade ties, some economists warn that Tajikistan is becoming more economically dependent on China and that its trade deficit is deepening that vulnerability. China has also expressed concern about the safety of its Tajikistan-based workers after attacks on Chinese installations from the Afghan side of the border in the last year.

Oil Price

Kazakhstan Sees No Major Risks From UAE Exit From OPEC+

Kazakhstan does not expect major economic turbulence following the United Arab Emirates’ withdrawal from OPEC and the OPEC+ agreement, despite the country’s continued dependence on global oil prices, Deputy Prime Minister and Minister of National Economy Serik Zhumangarin said. The UAE announced that it would leave OPEC on May 1, citing disagreements over existing production quotas. Abu Dhabi plans to increase oil output amid concerns over possible supply disruptions through the Strait of Hormuz and the risk of shortages on the global market. The departure of one of the world’s largest oil producers has fueled concerns about a potential drop in crude prices and the possibility of a price war among exporters. However, Zhumangarin said international analysts remain cautious in assessing the broader implications of the move. “Some are saying this marks the end of the OPEC era. In reality, international expert assessments and forecasts remain very cautious regarding whether this could lead to a price war and whether such a scenario is even possible,” he told reporters. According to the minister, even if the UAE raises production from the current 3.5 million barrels per day to 5 million barrels per day, the global market would continue to balance itself through other major producers and alternative suppliers. Commenting on the possible impact of lower oil prices on Kazakhstan’s economy, Zhumangarin noted that the government traditionally prepares several macroeconomic development scenarios. “This year, the pessimistic forecast was based on an oil price of $50 per barrel,” he said. The minister also pointed out that oil prices had exceeded $100 per barrel several times this year amid tensions in the Middle East. According to Zhumangarin, Astana retains the ability to adjust budget spending if conditions on the oil market deteriorate. On the eve of the US-Israeli war on Iran in late February, the industry benchmark Brent crude was trading at approximately $70 to $73 per barrel; as of May 11, it had risen to slightly below $104 per barrel. In April, OPEC+ countries increased oil production by 206,000 barrels per day, including a rise in Kazakhstan’s quota from 1.569 million to 1.599 million barrels per day by June. Kazakhstan’s authorities would like to see further growth in national oil production, however, a lack of viable export routes aside from Russia, as well as the fallout from Ukrainian attacks on the Russian port of Novorossiysk in November last year, have limited Kazakhstan's ability to fully exploit the recent rise in prices.

Startups

Uzbekistan Startups Win Two Honors at Global Startup Awards

Uzbekistan’s startup ecosystem received international recognition this week after two projects from the country won top honors at the Global Startup Awards Grand Finale, held during the EU-Startups Summit in Valletta, Malta. The event brought together startup founders, investors, and technology leaders from more than 54 countries. The Global Startup Awards is considered one of the world’s leading platforms for recognizing innovation ecosystems, selecting finalists through regional and national competitions across multiple continents. According to organizers, Uzbek representatives won in two global categories. Rakhimakhon Nugmanova, founder of the startup Peritech, received the “Ecosystem Hero of the Year” award, while Catextra was named “Best Greentech Startup of the Year.” Speaking to Times of Central Asia, Nugmanova said the recognition carried special meaning because it reflected support from the international startup community itself. “For me, this award is very important because it means people themselves chose me,” she said. “It shows that the work we are doing to develop the ecosystem has been noticed and appreciated by the people it is meant for.” She added that representing both Uzbekistan and Central Asia on the global stage was significant at a time when the region is drawing increasing international attention. “I think people were able to feel my sincerity and my passion for this work,” Nugmanova told The Times of Central Asia. “For many years, I have worked at the intersection of education, technology, and the public sector, and I hope I am making a meaningful contribution to people’s lives, from children to adults.” The success in Malta follows the Global Startup Awards Central Asia regional final held in Tashkent during ICT Week in September 2025 with support from IT Park Uzbekistan. The event helped regional startups connect with investors and international technology networks. Catextra’s victory highlighted growing international interest in sustainable technologies developed in Uzbekistan. The platform focuses on transparency and traceability in the textile industry, helping manufacturers track every stage of their supply chains and verify compliance with international ethical and production standards. A member of the Catextra team, Amal Isamukhamedov, told The Times of Central Asia that the award demonstrated international confidence in an idea developed in Uzbekistan. “For our team, winning at the Global Startup Awards means recognition and trust from European technology structures in our Uzbek idea,” he said. “We realized that our idea can work not only in our region, but also beyond it.” According to Isamukhamedov, the platform is designed to help textile and agricultural exporters from Uzbekistan and Central Asia access higher-value markets in Europe, the United States, and Asia, where buyers increasingly demand proof of product origin and transparent supply chains. “Our platform helps local producers export faster, more cheaply, and more easily,” he said. He also credited growing state support for the startup sector, including initiatives backed by President Shavkat Mirziyoyev and IT Park Uzbekistan, with helping local startups enter international markets. “Five years ago, these ideas and this political will were only beginning to form,” he said. “Now a new generation of...

Strategic Partnership

Britain Expands Central Asia Ties as Kazakhstan Ratifies Strategic Partnership Deal

Last week, Kazakh President Kassym-Jomart Tokayev signed a law ratifying a strategic partnership and cooperation agreement with the United Kingdom. With that move, Central Asia’s largest economy added Britain to its growing list of strategic partners, reinforcing Astana’s long-standing multi-vector foreign policy. For London, meanwhile, the agreement marked another milestone in what some analysts have framed as a renewed contest for influence in Central Asia, an area where Britain has sought to strengthen its position over the past five years. Kazakhstan already counts Russia, China, the United States, several European Union states including Italy, Germany, France, and the Netherlands, as well as Turkey, Azerbaijan and its Central Asian neighbors among its strategic partners. Britain has now joined that group as it seeks to revive its historical influence in the region. That broader contest is often described through the language of a “New Great Game,” a phrase that draws on an older imperial rivalry. The term “Great Game” emerged in the 19th century to describe the geopolitical rivalry between the British and Russian Empires across Central and South Asia. The phrase was popularized by British officer, spy, and diplomat Arthur Conolly, who compared the complex web of political intrigues to a vast strategic board game stretching across half a continent. Since 2022, observers say London has intensified its engagement in this geopolitical competition, aimed partly at limiting Russian and Chinese dominance in Central Asia. At stake are key sectors such as critical minerals, including rare earths, as well as logistics corridors, particularly the Trans-Caspian International Transport Route, also known as the Middle Corridor. In December 2023, the UK Parliament’s Foreign Affairs Committee published a report titled Countries at the Crossroads: UK Engagement in Central Asia. The report criticized what it described as ineffective engagement by British ministers with the governments of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. One of the report’s central recommendations was that London should more actively counter Russian influence in the region. In recent years, British embassies across Central Asia have established offices linked to the UK’s international development structures, expanding engagement with local civil society groups. Through the British Council, London has also expanded its soft power initiatives, financing programs such as Creative Central Asia and Creative Spark. More than 60 universities have joined these programs, with participation exceeding 65,000 people. Britain also continues to operate the Chevening scholarship program, under which young political and public sector figures from Central Asia study in the UK before often returning to influential positions in their home countries. For Kazakhstan’s ambitious younger generation, Britain’s appeal may also be reinforced by symbolic success stories. On May 8, the same day Tokayev signed the strategic partnership into law, Kazakhstan-born Sanjar Abishev was elected to Westminster City Council, representing London’s prestigious St James’s district. Abishev’s election drew attention in Kazakhstan as a symbolic example of the country’s growing diaspora presence in Britain. Little is publicly known about Abishev, though one detail stands out: he entered politics only in 2022 after previously running a...

Trade

Tokayev Expects Kazakhstan-Russia Trade to Exceed $30 Billion

Kazakh President Kassym-Jomart Tokayev said trade turnover between Kazakhstan and Russia could surpass $30 billion in 2026, following a slight decline last year. Speaking during a meeting with Russian President Vladimir Putin in Moscow, Tokayev said Russia remains one of the largest investors in Kazakhstan. “Over the past five years, Russia has been one of the main investors in the Kazakh economy. Trade is developing successfully. According to forecasts, this year we will confidently surpass the $30 billion mark, this is a good indicator,” Tokayev said. Trade turnover between the two countries increased by 3% in 2024 to reach $27.8 billion, but declined to $27.4 billion in 2025, Kazakhstan’s Trade Minister Arman Shakkaliyev previously reported. Kazakhstan's trade turnover with Russia has long been eclipsed by that with China and the European Union – both of which have reached around $50 billion per year. Tokayev was in Moscow on a working visit ahead of Victory Day commemorations – a visit which had appeared in doubt following the threat of Ukrainian strikes on Moscow. During the talks, the two sides discussed bilateral economic cooperation, preparations for Putin’s upcoming state visit to Kazakhstan, and the Eurasian Economic Union summit scheduled to take place in Astana on May 28-29. According to Tokayev, Kazakhstan and Russia have implemented 122 joint industrial cooperation projects out of 177 planned over the past 20 years. Tokayev also congratulated the Russian leader on the anniversary of victory in World War II. “We honor the heroes of the bloodiest war in human history,” he said, noting that 57 World War II veterans remain alive in Kazakhstan. Putin, in turn, thanked Tokayev for the visit and praised his contribution to bilateral relations. “The fact that you found it possible to come to Moscow and be with us these days is the best proof of the level of relations between Kazakhstan and the Russian Federation,” the Russian president said. The Times of Central Asia previously reported that Russia had tightened foreign trade procedures at the beginning of the year, a move that could affect logistics and trade flows across Central Asia.

Foreign Workers

Kazakhstan Plans New Measures to Attract Highly Skilled Foreign Workers

Kazakhstan is preparing to introduce new mechanisms to attract highly qualified foreign specialists as part of a broader effort to increase the country’s openness to talent, investors, and entrepreneurs. The Ministry of Labor and Social Protection has drafted amendments to the country’s migration legislation following a presidential decree aimed at modernizing migration policy and addressing labor shortages. The proposed legislation introduces a targeted recruitment system for in-demand foreign specialists based on the current needs of the domestic labor market. A key element of the reform is the creation of a government-approved list of priority professions. The list is expected to include specialists in information technology, healthcare, education, and culture, sectors currently experiencing some of the most acute labor shortages. The draft law also establishes clearer and more transparent procedures for hiring foreign professionals at the request of employers. Authorities are placing particular emphasis on improving conditions for foreign specialists working and living in Kazakhstan, including through an expansion of the Altyn (Golden) Visa program. Under the proposed changes, foreign specialists would be eligible to apply for resident status after a specified period of employment in Kazakhstan. The status would provide access to tax incentives, financial services, healthcare and education opportunities, as well as the right to work outside the country’s foreign labor quota system. Officials say the reforms are intended not only to address labor shortages, but also to facilitate the transfer of skills and expertise to local workers and accelerate technological modernization. In the longer term, the government hopes the measures will help position Kazakhstan as a regional hub for skilled professionals and advanced technologies. The Labor Ministry is also working to significantly expand the list of in-demand professions from 51 to 174 specialisms. The expanded list would include occupations in the nuclear industry, energy, biotechnology, genomic medicine, water management, irrigation, and healthcare. Authorities say the initiative is designed to strengthen Kazakhstan’s competitiveness in the global race for talent and support the development of strategically important sectors of the economy. The Times of Central Asia previously reported that Kazakhstan had approved its 2026 quota for foreign labor at 0.25% of the country’s total workforce. The quota includes permits for 726 senior executives and deputies, 3,402 heads of structural divisions, 5,893 specialists, and 3,131 skilled workers. An additional 4,994 permits were allocated for seasonal labor.