• KGS/USD = 0.01143 0%
  • KZT/USD = 0.00196 -0%
  • TJS/USD = 0.10045 0.2%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00196 -0%
  • TJS/USD = 0.10045 0.2%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00196 -0%
  • TJS/USD = 0.10045 0.2%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00196 -0%
  • TJS/USD = 0.10045 0.2%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00196 -0%
  • TJS/USD = 0.10045 0.2%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00196 -0%
  • TJS/USD = 0.10045 0.2%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00196 -0%
  • TJS/USD = 0.10045 0.2%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00196 -0%
  • TJS/USD = 0.10045 0.2%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 0%
01 June 2025

Viewing results 829 - 834 of 1414

Steel Highways: The State of Central Asia’s Railways

Railways in Central Asia have always played an important political and economic role, but amid the current geopolitical turbulence, they have become a crucial means of  transporting  goods from China to Europe and the Middle East, bypassing sanctioned Russia. But what is the state of  Central Asia's railway industry, and is it up to the new challenges? The history of rail transport in Central Asia dates back to the end of the 19th century. In 1874, a special commission of the Russian Empire recognized the need to construct a line from Orenburg to Tashkent. Later, however, strategic considerations forced a change of plan and to ensure a stable connection between the Turkestan and Caucasus regions, the first steel highway in Central Asia would be built to connect Tashkent with the eastern coast of the Caspian Sea. This was an active period of the so-called Great Game, when Russia and Great Britain competed in Central Asia. Since then, the geopolitical importance of railways in the region, which lacks access to oceans, has not decreased whatsoever. Indeed, amid armed conflicts in the Middle East and between Russia and Ukraine, railways have become even more important given their role in ensuring the movement of goods along the Trans-Caspian International Transport Route (TITR) and the International North-South Transport Corridor (INSTC). Against this backdrop, Kazakhstan's President Kassym-Jomart Tokayev has tasked the national railway company Kazakhstan Temir Zholy (KTZ) with leading the transformation of the country into a transport and logistics hub.   Kazakhstan: A story of steady development The length of Kazakhstan's mainline rail network is over 16,000 km, with over 800 stations and crossing points. The freight car fleet exceeds 120,000 units, while locomotives number more than 1,700. Kazakhstan’s railways account for 70% of freight traffic, and 60% of passenger traffic in the country. Just under 1% of the country’s population is employed in the rail industry. According to the KTZ's annual report in 2023, container transit rose 14% year-over-year to 1.282 million TEU (twenty-foot equivalent units), which drove a 30.6% year-on-year rise in operating income to KZT1.934 trillion, while net profit came in at KZT136.8 billion ($286.8 million). The volume of freight transported between Kazakhstan and China was also up 22% to 28 million tons. In addition, KTZ reported the completion of large-scale track repairs in 2023, with 1,443 km of railway track repaired, double the figure achieved in 2022. The start of large infrastructure projects was also noted. In particular, construction was launched of the Darbaza–Maktaaral and Bakhty–Ayagoz lines (with a third border crossing with China set to be opened in 2027), while construction of the bypass line around Almaty also commenced. Over 300 km of the second track was laid on the Dostyk-Moyynty railway section. Finally, a Kazakh transport and logistics terminal was opened in the Chinese dry port of Xi'an.   Uzbekistan: First high-speed rail in Central Asia O’zbekiston Temir Yo’llari (UTY), Uzbekistan's national rail carrier, was founded on November 7, 1994, taking over the lines of the Soviet-era Middle...

ADB Grants $21 Million to Modernize Hydropower Plant in Tajikistan

The Asian Development Bank (ADB) announced on August 6 that it had approved a $21 million grant as additional financing to modernize the Golovnaya hydropower plant in Tajikistan. The additional financing will replace the power generation unit 4 at the Golovnaya hydropower plant. Unit 4, which was not part of ADB’s original project approved in 2013, ceased operations in 2019 due to damage to its mechanical equipment. ADB’s original project provided a $136 million grant to replace five of the plant’s six power generation units. It also rehabilitated switchyards at the Golovnaya hydropower plant, modernized the Vose substation, and constructed the Rudaki substation and a transmission line connecting the Rudaki and Vose substations in southern Tajikistan. The hydropower plant’s modernization will increase its installed capacity from 240 megawatts in 2012 to 274 megawatts by 2026. ADB Director General for Central and West Asia, Yevgeniy Zhukov, commented: “The electricity from the Golovnaya hydropower plant goes to national and regional grids, benefiting Tajikistan and neighboring countries. ADB’s support improves regional energy security, contributing to inclusive, sustainable economic growth and balanced regional development.” Late in December 2023, Tajik president Emomali Rahmon stated that Tajikistan’s energy capacity exceeded 6,000 megawatts in 2023, and electricity production amounted to 22 billion kilowatt-hours, 4.8 billion kilowatt-hours or 28% more than in 2017. Rahmon also said that by 2032, electricity production in the country would be entirely from renewable sources; that is, 100% will be provided by “green energy, and Tajikistan will truly become a green country.”

Kazakhstan Completes Annual Anti-Locust Measures

This year’s locust control measures have been completed in all regions of Kazakhstan. As a result, farmers' crops have not been damaged by swarms of the grasshopper pests. Over 3.1 million hectares of land have been treated against locusts, 23% more than the planned 2.5 million hectares. Monitoring work will continue in some regions for another week. The amount of agricultural land affected by locusts has dramatically increased in recent years, from 514,000 hectares in 2020 to 1.6 million hectares in 2023. According to the UN’s Food and Agriculture Organization, locust outbreaks pose a severe threat to agriculture in the South Caucasus and Central Asia, with more than 25 million hectares and 20 million people in the region vulnerable to damage. Kazakhstan has cooperated closely with agricultural authorities of bordering countries, including Russia, to monitor the potential spread of locusts. Next year the government plans to purchase 100 drones to monitor the birthplaces of locust larvae and more drones to treat fields.

Tajikistan and Uzbekistan Discuss Using Lake Sarez For Drinking Water

On August 3, a Tajik-Uzbek working group on the shared use of water from Central Asia's transboundary rivers met in Dushanbe. Participants discussed the potential for using the water from Lake Sarez, in the Tajik National Park in the east of the country, to provide Central Asian countries with clean drinking water. Other potential joint projects between Tajikistan and Uzbekistan in the field of water management were also considered. In 2018, the presidents of Tajikistan and Uzbekistan, Emomali Rahmon and Shavkat Mirziyoyev, first discussed using the Sarez freshwater as drinking water, during a visit by Rahmon to Uzbekistan. The nations subsequently commissioned a feasibility study from the Intergovernmental Joint Commission on Trade and Economic Cooperation. Rahmon has repeatedly emphasized that Tajikistan has ample freshwater resources, and has previously used speeches at political forums to suggest using the Sarez mountain lake to provide Central Asian countries with drinking water. The Tajik government has also offered to supply drinking water from Sarez to Iran, Jordan, and the United Arab Emirates. The Times of Central Asia has previously written that Central Asia will face severe water shortages in the coming years. More than 80% of the available water in Central Asia is used for irrigation, 40% of which is lost during delivery in the fields. With the commissioning of the Qosh Tepa canal in Afghanistan, the water shortage will become even more serious from 2028. The chairman of the Eurasian Development Bank, Nikolay Podguzov, has warned that the Qosh Tepa's construction could threaten Central Asia's water balance.

Kyrgyz Stock Exchange Continues to Grow

The Kyrgyz Stock Exchange (KSE) is the leader among the countries of the Eurasian Economic Union (Russia, Armenia, Kazakhstan, Kyrgyzstan, Belarus) in terms of trading volume growth. The volume of capitalization for the second quarter of 2024 amounted to $636 million. The indicator increased five times compared to the same period last year. In 2022 the exchange began trading in precious metals, and in 2023 the first trades in government securities took place. "The volumes in 2023 increased because there were very large transactions in the primary market. We hosted such companies as Aiyl Bank - more than 4.8 billion KGS ($56.4 million), State Mortgage Company - 3.8 billion KGS ($44.7 million), Entrepreneurship Development Fund - 503 million KGS ($5.9 million), and the National Electric Grid of Kyrgyzstan conducted a transaction for 5.3 billion KGS ($62.3 million). Banks and companies with state participation carried out additional capitalization,” KSE vice-president Aida Chodulova told The Times of Central Asia. According to Chodulova, all securities transactions (public and private) must now go through the stock exchange. "We are now introducing new software to make the system more modern and accessible. We are developing new areas: IPOs, digitalization, and the development of the commodities sector and the precious metals sector. We will also open a currency pairs trading and crypto exchange sector,” Chodulova said. "At the end of 2023, we held auctions and issued State Treasury Bonds with a two-year circulation term. They were issued in both the national currency and Russian rubles. Commercial banks in Kyrgyzstan and insurance companies participated in the trade. Russian Gazprombank bought some of the securities for Russian investors,” she added. Last year, KSE planned to issue “green” state treasury bonds with a five-year circulation term, with some of these securities to be sold to Russia. However, the project had to be suspended due to the international economic sanctions placed on Russia as a result of its invasion of Ukraine.

Tajikistan Aims to Employ AI to Achieve 5% of GDP by 2040

As previously reported by TCA, Tajikistan is the only Central Asian country with a national strategy for the development of AI. In 2022, President Emomali Rahmon signed off a national strategy to achieve 5% of the GDP from developing artificial intelligence by 2040. On August 1, the Minister of Industry and New Technologies of Tajikistan, Sherali Kabir, announced at a press conference  that work had begun in securing the first patent for the artificial intelligence algorithm 'zGAN' , developed by the local research laboratory of Tajikistan, and stated: “At a time when two-thirds of the world’s countries have yet to develop their national AI strategies, these steps highlight Tajikistan’s ambition to take a key position in technology and innovation." Referencing Tajikistan's progress in the field, Azizjon Azimi, chairman of the Council on AI under the Ministry of Industry, said more than 300 experts had been trained in artificial intelligence and its applications in the economy were expanding. "The leading case is using 'zGAN' algorithms for credit scoring. More than 30 banks in over ten countries have already implemented this algorithm by the Tajik fintech zypl.ai, which automatically issued loans worth over $200 million. To date, zypl.ai has attracted more than $3 million in private direct investment in the development of AI in Tajikistan." Azimi emphasized that in addition to the impact of 'zGAN' in the economic sphere, plans are in place for its application in agriculture, industry, and healthcare. He also reiterated that an agreement had been signed to develop AI programs for the Emirate of Ras al-Khaimah based on Tajikistan's national AI development strategy.