Kazakhstan Business & Economy - The Times Of Central Asia

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Kazakhstan Launches Construction of New Railroad to China

The Prime Minister of Kazakhstan, Alikhan Smailov, via a teleconference on December 20th officially inaugurated the construction of a new railway line, Bakhty-Ayagoz, with a total length of 272 km in the Abay Region of southern Kazakhstan. The project is being implemented upon the instruction of President Kassym-Jomart Tokayev to increase the transport and transit potential of Kazakhstan. The project also involves the opening of a third border crossing with China, Bakhty-Chuguchak. The railway line will increase the throughput capacity between Kazakhstan and China from 28 million to around 48 million tons, lessen the burden on the southern checkpoints, and attract additional volumes of transit. It is planned that the double-track line will begin operating in 2027. The large-scale project will be realized with the participation of a private investor on PPP principles. During the ceremony, the Prime Minister stated that last year Kazakhstan's railroads transported the largest volume of cargo since the country’s independence, which amounted to 245 billion tons/kilometer. These rates have been maintained in the current year, despite the geopolitical situation and infrastructure constraints.[/vc_column_text][vc_single_image image="12823" img_size="full" el_class="scond-image" parallax_scroll="no" woodmart_inline="no"][vc_column_text woodmart_inline="no" text_larger="no"]"Over the past five years, the volume of transit container transportation has grown 3.2-fold. Existing transit corridors are being expanded, and new ones are being opened. The Trans-Caspian International Transport Route, North-South and Southern corridors have become particularly relevant," Smailov said. At the same time, the throughput and infrastructure capacities have reached their peak. To address this strategic issue, a decision was made to implement a number of infrastructure projects in the rail industry. The new line is expected to help increase Kazakhstan's exports and the transit of goods from Russia to China and back.

Business & Economy Kazakhstan Kazakhstan Business & Economy

Kazakhstan and Saudi Arabia on Path to Strategic Partnership

Kazakhstan and Saudi Arabia on Path to Strategic Partnership On December 20th, the sixth meeting of the Kazakh-Saudi Intergovernmental Commission on Trade, Economic, Scientific, Technical and Cultural Cooperation (IGC) was held in Riyadh. The co-chairs of the Commission are Deputy Prime Minister-Minister of Foreign Affairs of Kazakhstan, Murat Nurtleu, and Saudi Minister of Investment, Khalid bin Abdulaziz Al-Falih. As part of the IGC meeting, a Kazakh-Saudi investment round table was organized with the participation of over a hundred business representatives from the two countries. Opening the event, Foreign Minister Nurtleu noted the strategic importance of intensifying cooperation between the public and private sectors of the two countries. The minister drew attention to the enormous potential of the Saudi market for strengthening trade and economic relations, as well as the unlimited prospects for expanding investment partnerships. Nurtleu stated that both countries have significant opportunities to further deepen contacts in such sectors as green energy, food security, transport and logistics, mining, petrochemicals, agriculture, finance, and tourism. Saudi co-chairman of the IGC, Khalid Al-Falih drew attention to the interest of the Kingdom’s leadership in strengthening a diverse array of ties with Kazakhstan, which is considered the leader of the Central Asian region. “Kazakhstan is the largest country with a vast territory, rich natural resources and human capital. It is extremely important for us today to bring relations with your country to the most serious level, which involves a confidential political dialogue, mutually beneficial trade and economic ties, as well as large-scale investments in your economy,” said the Saudi minister. The event also featured speeches from the heads of over thirty large companies in the Kingdom, including such giants as Saudi Aramco and ACWA Power. The latter is already starting to implement renewable energy projects in Kazakhstan. The parties agreed to open a joint innovation hub early next year, which will allow startup projects in Kazakhstan to gain access to the markets of the Middle East and North Africa, and will help promote the brand of Kazakhstan as an IT country.

Kazakhstan Kazakhstan Business & Economy

Kazakhstan’s Investment Opportunities Presented in Indonesia

Kazakhstan’s Investment Opportunities Presented in Indonesia An event was held at the Chamber of Commerce and Industry of East Java (Surabaya) on December 18th dedicated to presenting Kazakhstan’s attractive investment climate and its transport and logistics strategy. Officials from government bodies and business circles of Indonesia’s largest industrial region participated, representing sectors such as oil and gas, mining, chemicals, healthcare, wood processing, textiles, and agriculture. The Ambassador of Kazakhstan, Serzhan Abdykarimov, provided detailed insights into the successful socio-economic development of Kazakhstan. He spoke about the government’s efforts to attract foreign direct investment, legislative support for investors, the activities of the Foreign Investors Council, the Kazakh Invest national company, and the involvement of major international corporations in Kazakhstan. He also focused on the expansion of the country’s transport and logistics potential. The Ambassador stressed the effectiveness of Kazakhstan’s investment climate, including various tax incentives, preferences, and accompanying infrastructure provided by the state. A separate presentation on the transit and transport strategy of Kazakhstan was made during the meeting. This included information on the activities of 13 international corridors, sea and dry ports, railway and road networks that Indonesian entrepreneurs can utilize for trade with Kazakhstan, as well as for shipments and transit of goods between Asia and Europe. Acknowledging significant progress in the 30 years of bilateral relations between Astana and Jakarta, the Ambassador highlighted the substantial growth in bilateral trade, tourism, business contacts, and human interactions. He called on business circles in East Java to actively engage in investment and trade and economic cooperation with Kazakhstan, encouraging participation in the establishment of a Kazakhstan-Indonesia Business Council. Adik Putranto, Chairman of the Chamber of Commerce and Industry of East Java, praised the business climate in Kazakhstan. He relayed the region’s significant interest in expanding industrial and economic partnerships with Kazakhstan, considering the presence of Indonesia’s second-largest international seaport in Surabaya. In his words, Kazakhstan can serve as a transport and logistics hub and a financial center for Indonesia in Central Asia, making it highly attractive for the business community of Indonesia’s largest industrial region.

Kazakhstan Kazakhstan Business & Economy

Government Reports Steady Economic Growth

Government Reports Steady Economic Growth The economy of Kazakhstan has successfully adapted to external conditions and has entered a trajectory of sustainable growth this year. From January-November, economic growth reached 4.9%, compared to 2.7% in the same period last year. Overall, Kazakhstan’s GDP per capita increased from $11,500 to $13,300, the official website of the Prime Minister (primeminister.kz) reported. Inflation in annual terms slowed to 10.3% in November, down from 20.3% in December 2022. During the first six months of this year, $13.3 billion of foreign direct investment was attracted, which is a very high figure and guarantees support for economic growth in the medium term. By the end of the year, it is planned to reach approximately $27 billion. A total of 210 new investment projects were put into operation in all sectors of the economy, creating 19,500 jobs. In total, 291 projects are expected to be put into operation by the end of the year. Production in mechanical engineering is growing at a record pace of 26.8%. At the same time, in the automotive industry and the production of electrical equipment the figures are even higher – 41% and 32%, respectively. This year, Kazakhstan exported goods worth $65 billion. At the same time, exports of processed goods reached $21 billion.

Kazakhstan Kazakhstan Business & Economy

Chinese Automaker Chery to Build Auto-Industrial Park in Almaty

Chinese Automaker Chery to Build Auto-Industrial Park in Almaty On December 16th, First Deputy Prime Minister of Kazakhstan, Roman Sklyar paid a working visit to the city of Hefei in China’s Anhui Province. During the visit, Sklyar held negotiations with the Secretary of the Party Committee of Anhui Province and the Chairman of the People's Government of Anhui Province, wherein the parties discussed further deepening trade, economic, investment, industrial, cultural and humanitarian cooperation between the regions of Kazakhstan and Anhui Province. As a result, a ceremony was held to sign a Memorandum of Cooperation between Kazakhstan’s Astana Motors and the Chinese automobile manufacturing company, Chery International Co., Ltd. The document provides for the development of strategic cooperation between the above-mentioned enterprises of Kazakhstan and the People's Republic of China in the field of joint construction of an automobile industrial park in the Almaty Industrial Zone in Kazakhstan.

Environment Kazakhstan Kazakhstan Business & Economy

Belgian Company Helps Open First Plant for Production of High-Quality Lime in Kazakhstan

With the support of National Company, KAZAKH INVEST, Saryopan Operating company, together with the Belgian multinational company, Carmeuse Group, opened the first plant in Kazakhstan for the production of high-quality lime. The project's cost amounted to about 30 billion tenge ($65 million) and created more than 200 permanent jobs. Bauyrzhan Aitkulov, Director of the KAZAKH INVEST Project Department, attended the opening ceremony on December 15th. The enterprise's production capacity in the Saryopan field, Osakarovo district, Karaganda region, will amount to 330,000 tons annually. The plant's launch will completely replace the import of grade one lime to Kazakhstan and allow exports with added value. Access to domestic lime will increase the productivity of ferrous and non-ferrous metallurgy enterprises in the country. High-grade lime used for effective flue gas purification from CHP plants will significantly contribute to solving environmental problems in Kazakhstani cities, bringing coal plants in line with European standards. Aitkulov said that the national company has supported the project since 2018. He stressed that the plant's opening reflects the industry’s growth in the Karaganda region and the country's desire for environmentally sustainable development. The enterprise will be one of the most environmentally-friendly plants in Kazakhstan. The plant was built using ESG standards, and the dust cleaning system installed at the enterprise will provide a high degree of air purification.