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Economy

CIPE’s Inaugural B5+1 Forum Opens in Almaty

In recent years the countries of Central Asia have taken more confident steps towards working with the United States and Europe, so that both local and international companies and agencies can capitalize on the region’s potential. Instrumental in this process has been the Center for International Private Enterprise (CIPE), which last year created the diplomatic ‘C5+1’ platform – a group comprising the governments of the five Central Asian republics – Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan and Turkmenistan – plus the United States, whose State Department has been integral to the development of the platform. Following the first C5+1 Summit in New York in September 2023, led by the presidents of all six countries, CIPE has now created a dedicated business platform for these nations: ‘B5+1’. The inaugural B5+1 Forum will be held in Kazakhstan’s business capital of Almaty this week, and will bring together policy makers from Central Asia, America and other countries, as well as high-profile private companies working in the region. At the C5+1 Summit, presidents Biden, Tokayev, Mirziyoyev, Japarov, Rahmon and Berdimuhamedov had committed to the establishment of B5+1 in order to “accelerate regional cooperation and connectivity [and]… advance efforts to create a more favorable business environment for U.S. private sector trade and investment in Central Asia.” The B5+1 event will be divided into two thematic days: “Looking within Central Asia” on Thursday 14 March, where representatives of the US Department of State, Kazakhstan’s Ministry of National Economy, the Caspian Policy Center and others will present their visions for improving Central Asia’s investment climate and economic integration; and “Central Asia’s place in the world economy” on Friday 15 March, where leaders from the US-Kazakhstan Business Council, the American-Uzbekistan Chamber of Commerce, the European Bank for Reconstruction and Development (EBRD) and others will look outwards, to give an international perspective on how the region can grow its trade and investment volumes. At a time of geopolitical upheaval and disruption of existing supply chains, the Almaty forum will also continue the conversation on enhancing regional connectivity via the Trans-Caspian International Transport Route, also known as the Trans-Caspian Corridor. The B5+1 Forum forms part of CIPE’s program called “Improving the Business Environment in Central Asia” (IBECA). CIPE themselves are affiliated to the US Chamber of Commerce – the catalyst behind the B7 and B20 platforms – and receive funding from the US Department of State. The establishment of B5+1 is closely aligned with commitments made during the September C5+1 Presidential Summit and outlined in a document called the New York Declaration to strengthen their economic relations, and improve the business environment for regional economic integration and investments. The upcoming Forum aims to deliver on two key commitments in the declaration. The Times of Central Asia will be in attendance at the B5+1 Forum on 14-15 March, and will be publishing insight and analysis from the event.

“You’re Afraid I’m Not Beautiful; I’m Afraid You’ll Kill Me” – Women Rally in Bishkek

On International Women's Day on March 8th, hundreds of people took to the streets of Bishkek to participate in the annual march for women's rights. Under the slogan "A woman's life is a mirror of the time," the march started from the monument to revolutionary fighters on Chui Avenue and ended in Gorky Square on Isanov Street. The marchers carried placards and made calls for an end to violence against women, to ensure their freedom and protect freedom of speech. One of the speakers was Asel Nogoibayeva, who said she had first-hand experience of domestic violence. Her words left a lasting impression, as did her call for the police to address the problems of domestic violence. Marches on March 8th in support of women's rights have become an annual tradition in Bishkek, with the main theme always for the authorities to pay attention to women's issues. "I went with a double-sided poster that said: ‘You’re afraid I’m not beautiful; I’m afraid you’ll kill me’ and on the other side, ‘Only a human being can give birth to a human being,’” Saraya, a participant at the rally told TCA. “I also printed out some posters that I handed out." Saraya said that the march went exactly as planned with no deviations and expressed her joy at the increase in the number of participants, including girls with their boyfriends, which is a testament to the expanded audience and impact of the event. "Of course, marching is not the only way to influence people,” she said. “It doesn't work if once a year you walk around with placards and then forget about it. Businesses, for example, have different ways of attracting customers - social media, word of mouth, banners, etc. A march is like an advertising campaign, periodically loudly and announcing itself so that people don't forget it. Only women’s rights are not a business – they’re a struggle for justice."

Female Entrepreneurs to Expand Mentoring – Great Strides for Uzbekistan

The Association of Business Coaches of Kazakhstan has launched the TalpynUp mentoring program for Central Asian women entrepreneurs. The project will be supported by the USAID Entrepreneurship and Business Environment Development Project at Imperial College, London. The six-month mentoring program will begin on April 20th in Kazakhstan, Uzbekistan, and Kyrgyzstan. It will help Central Asian women improve their business skills, and is aimed at those who have a business that has been operating for one to three years. Also, young businesswomen under the age of 29 who are mothers of children with special developmental needs will be able to gain valuable knowledge completely free of charge. The intensive mentoring program is based on individual training, mentoring and practical sessions with business coaches and experts. It consists of six modules focusing on such areas as sales, taxes and finance, human resources, management, and more. The organizers have emphasized the need for their program by explaining that, in the near future, artificial intelligence (AI) will replace many professions, especially those in which women are currently employed. Therefore, they need to develop and improve their skills and master new digital professions. In total, 190 female entrepreneurs from Kazakhstan have already been trained under the TalpynUp program. Now 60 young women each from Kyrgyzstan and Uzbekistan, and 120 Kazakhstani women will have access to the program. In 2022, the World Bank published comparative data on the earnings of men and women. Experts found that women around the world have, on average, only 77% of the legal rights that men have. However, according to the organization, Uzbekistan has made significant progress in ensuring equal rights for men and women. For example, the country has legislated equal pay regardless of gender, expanded the areas where women can work on an equal basis with men, and criminalized domestic violence. Thanks to these reforms, Uzbekistan has become one of the five countries with the greatest progress in gender equality - along with Jordan, Malaysia, Sierra Leone and Togo - and took first place in Central Asia in the Women, Business and the Law ranking. It's worth noting that the number of women engaged in business in Uzbekistan has doubled over the past five years to 205,000. About 200,000 women have been trained in professions and business, and more than 400,000 women and girls have gained employment.

The C5+1 Concept: The Idea Behind This Week’s B5+1 Forum in Almaty

Recognizing that the Central Asia region could benefit more from initiatives in global security, business and trade if its countries strengthened their cooperation in key areas, the Center for International Private Enterprise (CIPE) created the ‘C5+1’ platform last year for just this purpose. The Center’s 5+1 group features the governments of the five Central Asian republics – Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan and Turkmenistan – plus the United States, whose State Department and international chambers of commerce are central to the platform’s work. An inaugural C5+1 Summit was held in September 2023, on the sidelines of the 78th session of the UN General Assembly in New York. At this high-level meeting, the presidents of each of the Central Asian nations joined US president Joe Biden in dialog on enhancing the region’s stability and prosperity through economic, energy, and security partnerships within the C5+1 framework. Building on this start made by C5+1, CIPE is now launching the ‘B5+1’ format, focused on cooperation in the global business context. The inaugural B5+1 Forum will take place this week in Kazakhstan’s business capital of Almaty, and will include presentations and panel discussions with policy makers from the United States, Central Asia and several other countries. On 14 and 15 March leaders from the public sector will discuss Central Asia’s economic integration, international trade and investment alongside dozens of influential private companies. The B5+1 Forum will pick up where the C5+1 Summit left off in exploring opportunities for American companies in Central Asia. This potential lies in key sectors such as critical minerals, renewable energy and manufacturing. The Almaty event will also continue the conversation on enhancing regional connectivity via the Trans-Caspian International Transport Route, also known as the Trans-Caspian Corridor. At a time of geopolitical upheaval and disruption of existing supply chains, international investment in this trade route is being sought through the Partnership for Global Infrastructure and Investment. The B5+1 Forum forms part of CIPE’s program called “Improving the Business Environment in Central Asia” (IBECA). CIPE themselves are affiliated to the US Chamber of Commerce – the catalyst behind the B7 and B20 platforms – and receive funding from the US Department of State. The establishment of B5+1 is closely aligned with commitments made during the C5+1 Summit last September, and outlined in a document called the New York Declaration. The upcoming Forum aims to deliver on two key commitments in the declaration. The Times of Central Asia will be in attendance at the B5+1 Forum on 14-15 March, and will be publishing insight and analysis from the event.

Letting Women Lead: Bridging the Finance Gap for Women-Led Businesses

Opinion by Hela Cheikhrouhou, IFC Regional Vice President, Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan I get to meet many courageous women in my work for IFC in Southwest and Central Asia. [1] I’ve witnessed the seemingly insurmountable challenges they encounter every day. I’ve seen the unyielding resolve of rural women in Tattha, Pakistan in the face of climate change-induced severe floods, and the stunting of their children due to a lack of potable water. I’ve heard the heartening stories of female leaders shattering the glass ceiling in Kuwait. I’ve had passionate discussions with women entrepreneurs who are struggling to secure financing in a region where very few formal enterprises are majority owned by women. In Kazakhstan, that proportion is just 23.8 percent. In Jordan, it’s 8.1, in Lebanon, 4.7. Closing the economic gender gap is even more urgent due to the region’s poor performance in the World Bank's Women, Business and Law 2023 score: Nearly half its countries ranked lowest on the index. Their struggles remain largely invisible to the world. But, with entrenched economic challenges and escalating fragility and conflict, we can no longer afford to avert our eyes from the issues faced by half of the global population. The numbers reveal a disturbing gender disparity. In 2022, female labor force participation in the Middle East, Central Asia, Afghanistan, Pakistan, and Türkiye (MCT) stood at 26 percent of women at working age, compared to 75 percent for men. This isn’t just a matter of equity—failing to bridge economic gender gaps in these countries casts a dark shadow on the region's annual GDP. The valiant voices I've encountered have shone a light on the key challenges preventing women from thriving in, or even entering the work force: the lack of flexible working arrangements, robust measures to combat harassment, safe transportation, affordable childcare, and better access to a quality education. Showcasing female role models would also help inspire girls and young women to pursue a career. In the entrepreneurial landscape, the uneven playing field makes survival and growth an uphill battle for women-led businesses. The dearth of funding directed towards women entrepreneurs is another key obstacle—a mere 7 percent of private equity and venture capital in emerging markets is invested in women-founded startups. Many factors contribute to women’s limited access to startup capital. One reason is this staggering statistic: only about 15% of all VC 'cheque-writers' are women. This glaring absence of a female perspective in the venture capital space invites unconscious biases. A lack of collateral, due to limitations on women’s access to asset ownership, further exacerbates women entrepreneurs' lack of access to funding. But the challenges go far beyond finance. Social and cultural norms act as significant barriers to women's entrepreneurship. For example, cultural expectations see childcare responsibilities placed mainly on women—preventing them from excelling in the entrepreneurship space. Yet hidden behind these challenges are outsized opportunities. The potential benefits of financing women-led businesses are substantial for both banks and investors. Research consistently shows that a gender-balanced portfolio...

Culture

Land Cleared for Tourism next to Old Bukhara; UNESCO Urges Pause

Despite UNESCO’s concerns, Uzbekistan is pushing ahead with plans for a big tourist complex next to the historical center of Bukhara, a jewel of medieval architecture in Central Asia. Workers are already clearing areas for “Eternal Bukhara,” a tourist facility that will boast a museum, teahouses and restaurants offering national cuisine, craft stalls and workshops for gold and blacksmithing, embroidery, wood carving, pottery, and painting. The design intends to evoke the urban layout of past centuries, with traditional drainage systems and ponds. All this construction would happen in part of the buffer zone surrounding the old city, potentially increasing the flow of tourists, but also putting more pressure on the integrity of the ancient site. Bukhara, a destination on the Silk Route that is more than 2,000 years old, contains the tomb of the ruler Ismail Samani, an emblem of 10th century Muslim architecture, as well as many ancient madrasas, or Islamic schools, according to UNESCO. [caption id="attachment_15561" align="aligncenter" width="843"] Traveler Veronika Karobitskaya looks toward the Kalyan Mosque in the ancient city of Bukhara, Uzbekistan. Karobitskaya, a Russian citizen, visited Bukhara in September 2022 and said she was “completely fascinated” by the city’s heritage. Photograph: Veronika Karobitskaya[/caption] [caption id="attachment_15562" align="aligncenter" width="960"] A view of the Kalon Minaret, a major landmark in Bukhara. Photograph: Veronika Karobitskaya[/caption] The historical center of Bukhara, registered on the world heritage list of the U.N. cultural agency in 1993, comprises 216 hectares and its buffer zone comprises 339 hectares. Some demolition has begun on the 32.6 hectares earmarked for the tourist complex, including at a sports stadium. Last year, some Bukharan residents appealed to the government not to dismantle the stadium, saying 1,200 children and 50 coaches use the stadium every day. A total of 29 buildings and facilities are slated for demolition. They include the Bukhara government building, designed by Uzbek architect Richard Blaise and built in 1980, as well as secondary and music schools, and social centers. Local authorities have tried to reassure residents who say they wish the tourist complex could be built further from the historical center. “It should be noted that on the basis of this project, it is planned to create a green park for residents and guests of Bukhara to walk in two-thirds of the area planned. In this regard, the trees in the area established earlier in accordance with the ´Green Bukhara´ program in the project area will be fully preserved and will be enriched as a new garden landscape,” the regional administration said in a report. According to UNESCO, however, there are laws and urban planning codes that “provide protection of monuments of cultural heritage and their buffer zones.” Sara Noshadi, director of UNESCO’s office in Uzbekistan, said on X, formerly Twitter, on March 2 that the U.N. agency is closely monitoring the Bukhara’s ancient site and was aware of local concerns about “potential construction plans” in the buffer zone. [caption id="attachment_15563" align="aligncenter" width="843"] Russian tourist Veronika Karobitskaya, who visited Bukhara in 2022, stands next to the...