Kazakhstan Business & Economy - The Times Of Central Asia

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Kazakhstan and Japan to Cooperate in Low-Carbon Development

On January 9th the Minister of Energy of Kazakhstan, Almasadam Satkaliev, and the Minister of Economy, Trade and Industry of Japan, Ken Saito, signed a memorandum of cooperation in the field of low-carbon development and interaction in energy transition, the Ministry of Energy of Kazakhstan has stated. The document is aimed at strengthening cooperation in the use of energy resources and technologies, including energy conservation and renewable energy sources consistent with the goals of the Paris Agreement. The Minister of Energy of Kazakhstan said that Kazakhstan and Japan are already successfully cooperating in the fields of uranium, oil and gas production, and are also introducing Japanese technologies at energy facilities. The parties reached an agreement to prepare a list of potential projects for joint implementation in the energy sector, including in the field of electric power and renewable energy sources. One such project is for wind power using a 500 MW battery energy storage system in Kazakhstan. The parties also agreed to strengthen their interaction in priority areas in the energy sector, including the implementation of sustainable development goals.

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Kazakhstan Participates in Summit in India

The Deputy Minister of Trade and Integration of Kazakhstan, Kairat Torebayev spoke at the country session of the 10th Global Summit, “Vibrant Gujarat”, which is taking place from January 10th to the 12th. The Gujarat Summit has been held in Gandhinagar since 2003 on the initiative of Prime Minister of India, Narendra Modi. Within the platform, participating countries discuss issues of socioeconomic development and promising projects for foreign investment. In February, Kazakhstan and India will celebrate their 32nd anniversary of cooperation since the establishment of diplomatic relations. Trade relations between Kazakhstan and India continue to develop: in 2022 mutual trade turnover reached $2.5 billion, though from January-October 2023, this figure decreased to $811.2 million. “Kazakhstan is the main trading partner of India among the Central Asian nations and is ready to further increase trade turnover in the amount of $148.1 million,” Torebayev stated. “Having significant natural resources in the energy sector, our country is a reliable partner for India in ensuring the supply of oil, gas, and other energy resources. In turn, the capacious Indian market is interesting to Kazakhstan's exporters of goods and services.” Torebayev went on to say that enterprises can increase the supply of products from the metallurgical, chemical, food, construction, and machine-building industries. The Deputy Minister also spoke about deepening cooperation between the two countries, as well as increasing mutual investments and implementing joint projects in areas with great potential, such as digitization, innovation, healthcare, education, and tourism. Today, approximately 400 legal entities backed by Indian capital are registered in Kazakhstan. The inflow of foreign direct investment from India to Kazakhstan over the past 25 years totals $414 million.

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Kazakhstan to Host Sixth Digital Almaty Forum

The forum, Digital Almaty 2024, “Industry X: the Digital Evolution of the Future,” will be held in Almaty from February 1st to 3rd, bringing together officials from the Shanghai Cooperation Organization (SCO) and Eurasian Economic Union (EEU), leading experts and entrepreneurs to exchange ideas aimed at creating a new era of digital industry. The Forum will also include Industry 4.0 Startup Battle - a large-scale challenge for the title of best industrial startup - and an exhibition of Kazakhstan's largest subsoil users, technology parks, and technology companies that will share their experience about projects in the IT ecosystem. Panel discussions will feature more than 200 speakers, including international experts, industry leaders, and leading innovators in IT and business. “The Digital Almaty International Forum annually brings together the world’s leading experts from fifteen countries,” Bagdat Mussin, the Minister of Digital Development, Innovations and Aerospace Industry of Kazakhstan said. “In the new year, new digital solutions are needed that will help improve business processes. This platform provides ample opportunities for the presentation and discussion of key trends, projects, and technologies in this industry.” The organizers of Digital Almaty are the Ministry of Digital Development, Innovation and Aerospace Industry, the Ministry of Foreign Affairs, the Almaty municipality, and the Autonomous Cluster Fund “Park of Innovative Technologies” (Tech Garden).

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Tourism Rapidly Expanding in Kazakhstan

According to the Bureau of National Statistics, in the first nine months of last year, the number of foreign tourists visiting Kazakhstan increased by 37%, reaching 834,900 people. The geography of places visited is also expanding every year. "Kazakhstan, in addition to its closest neighbors, has also been visited by travelers from far-flung countries," the Deputy Minister of Tourism and Sports of Kazakhstan, Yerzhan Yerkimbayev stated. According to the Ministry of Tourism, for the period from January to September 2023, the largest number of tourists to visit Kazakhstan, 356,850, came from the Russian Federation. In second place were Chinese tourists, who numbered 75,131 people. The third place was taken by travelers from Turkey - 41,134 people, in fourth came India (34,757), and in fifth came and the U.S.A. (28,160), which entered the top five for the first time.

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Kazatomprom Qualifies for Production of Advanced Nuclear Fuel

Kazakhstan’s National Atomic Company, Kazatomprom, the world's largest producer of uranium, says it has successfully completed the qualification process for the production of AFA 3G TM type A fuel assemblies at the Kazakh-Chinese Joint Venture, Ulba-FA LLP, which produces nuclear fuel for Chinese nuclear power plants. A document confirming the technical compliance of the product with all the mandatory quality requirements, norms and standards was provided by Framatome, the holder of technology. Work on the qualification for fuel assemblies’ production started in March 2023. As a result, the plant successfully received confirmation on the quality of its products. The qualification allows the plant to produce AFA 3G TM type A fuel assemblies, in addition to AFA 3G TM AA fuel assemblies, thus expanding the product line, Kazatomprom said. In 2024, Kazatomprom plans to commission industrial production of AFA 3GTM type A fuel assemblies and supply a batch of fuel assemblies of this type to nuclear power plants in China. The Ulba-FA plant has allowed Kazatomprom to diversify its production, expanding its product line and producing advanced, export-oriented uranium products with a high added value. With a production capacity of 200 tons of uranium in the form of fuel assemblies per year, the Ulba-FA plant has a guaranteed sales market for the next 20 years, Kazatomprom said. The launch of this innovative production has allowed Kazakhstan to enter the limited circle of countries which produce and supply nuclear fuel for nuclear power plants.

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Kazakhstan Approves SDGs Action Plan for 2024

The seventh meeting of the Coordinating Council for Sustainable Development Goals (SDGs) took place in Astana on January 5th, chaired by the Prime Minister of Kazakhstan, Alikhan Smailov. The meeting was attended by heads of government agencies and representatives from the United Nations, the United Nations Development Program (UNDP), and the European Union. At the meeting, updating the national SDG indicators, localizing SDGs in the regions, and preparing an annual report on the implementation of SDGs was discussed. Following the symposium, the SDG Coordinating Council approved an action plan for 2024. During the meeting, Prime Minister Smailov emphasized that the primary goal of the SDGs is to improve the quality of life of Kazakhstan's citizens by implementing advanced international standards. "In September of last year, the Head of State, Kassym-Jomart Tokayev participated in the United Nations SDG Summit,” Smailov said. “During his speech, the President emphasized that achieving SDGs is a top priority for the nation. As a result, Kazakhstan is always willing to collaborate with all Member States to pursue a more just and sustainable world." The UNDP Resident Representative in Kazakhstan, Sukhrob Khojimatov, highlighted two key areas the UNDP focused on in 2023. The first was the localization of SDGs within the framework of a regional program to establish an SDG Platform for Central Asia funded by the European Union. The second was the support provided by the UNDP to the Senate of the Parliament of Kazakhstan in creating a Parliamentary Commission for monitoring the implementation of national goals and objectives in the field of sustainable development. Johannes Baur, the Head of Cooperation at the EU Delegation to Kazakhstan, emphasized that in 2024 the EU and its member states have committed to supporting Kazakhstan's transition to a carbon-neutral economy by 2060. During this year, they will launch the implementation of the Team Europe initiative, which will focus on energy, water resources, and climate change in Central Asia. The initiative will receive a budget of €20 million. This cooperation will be extended through a new bilateral mechanism to facilitate the transition to a green economy and modernize Kazakhstan's emissions trading system.