• KGS/USD = 0.01134 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09210 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01134 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09210 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01134 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09210 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01134 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09210 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01134 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09210 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01134 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09210 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01134 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09210 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01134 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09210 0%
  • UZS/USD = 0.00008 0%

Viewing results 91 - 96 of 104

Kazakhstan President Tokayev: “As a progressive nation, we should look only forward”

“As a progressive nation, we should look only forward”, said President Kasym-Jomart Tokayev in an interview with Egemen Qazaqstan newspaper, stressing the importance of focusing on long-term goals and placing “national values at the center”. The interview, published on January 2, 2024, included frank discussions on many topics ranging from the government’s “constructive and balanced” foreign policy to its extensive reforms in political, social and economic arenas, while also covering uneasy issues such as the “complex and tense” events of January 2022, which devolved into an attempted violent seizure of power by criminal groups and risked pushing the country into chaos. On foreign policy, Tokayev summarized his government’s “unchanged” priorities as “ensuring the inviolability of the country's sovereignty and territorial integrity, protecting the rights and interests of the citizens of Kazakhstan, and creating favorable external conditions for sustainable economic growth.” The interview revealed key insights on Kazakhstan’s relations with powerful neighbors Russia and China, as well as the country’s strengthening international role, such as through hosting the International Astana Forum, and the One Water Summit with France in 2024. On political reforms, Tokayev highlighted that Kazakhstan was the only country in its geopolitical environment to have undergone large-scale democratic transformations and progressed towards protecting human rights. Some of the advancements detailed in the interview include political modernization and implementing a fairer and more balanced political system, including expanding powers of the elected Majilis [parliament] and eliminating the “super presidential powers”. Tokayev described the political reforms to date as “irreversible”. In terms of economic achievements and goals, Tokayev said the goals he set for the economy in 2023 (i.e., to double the GDP to $450 billion by 2029) were “achievable” while stressing that Kazakhstan had the most significant nominal GDP growth in Central Asia in 2023. He described his government’s new approach to economic management, specifying large industrial projects, attracting investment and asset recovery as components of one direction and, on the other, highlighting systemic reforms such as new tax and budget codes as well as new laws on public procurement and public private partnerships to increase transparency. On other issues, he reiterated his vision for the future of energy security as including clean nuclear energy. He also maintained his support for the country’s younger generation of professionals, including in government positions, and touched upon the government’s efforts to further counter domestic violence. The full text of the interview, translated from Kazakh, is given below: EQ:       Thank you, Kasym-Zhomart Kemelevich, for finding time in your busy work schedule for an interview with the newspaper Egemen Qazaqstan. The Kazakh press has been waiting for your opinion on issues of concern to our society. Therefore, today I would like to talk to you frankly on these topics. What was memorable for you last year? KJT:      I would like to take this opportunity to once again congratulate all compatriots on the New Year! The year 2023 was a year full of significant events for our country. We have come to the completion of...

New Law Establishes a National Fund for Children in Kazakhstan

A new law that came into effect on January 1st, 2024, entitled Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan, includes provisions regarding the accrual, payment and use of funds transferred from the National Fund to the children of Kazakhstan.  According to this document, all children (up to the age of 18) will receive deductions of fifty percent of the investment income of the National Fund. The project, a first of its kind in Central Asia, is called the "National Fund for Children". The National Fund of the Republic of Kazakhstan holds the state’s assets in the form of finances concentrated on the accounts of the Government in the National Bank. It is accumulated via fulfillment of tax obligations on the extraction of mineral resources, rent tax on export of crude oil and gas condensate and royalties, as well as the share of the Republic of Kazakhstan on division of production in kind or money from their realization, with the amount being determined in accordance with the relevant tax legislation. Lower-end forecasts of savings per child under this new law are calculated to be around US$3,000-4,000. This amount is estimated taking into account the volatility of the capital market and depends on the global economic situation. Only citizens of Kazakhstan can participate in this program, and any child that changes citizenship loses the right of payment. Furthermore, these funds are exempt from taxation and when a person reaches the age of 18, he or she can decide how to use the sum. It is conceivable that these funds can be used by the new generation to finance their future education, including abroad, or for housing purposes. If the funds are not used within 10 years by the citizen holding the funds, they will be automatically credited to his or her pension account.

Kazakhstan Seeks to Resolve Water Management Issues with Regional Neighbors

In the modern world, water is as valuable a resource as minerals. For that reason, on September 1st, 2023, the President of Kazakhstan, Kassym-Jomart Tokayev by decree created the Ministry of Water Resources and Irrigation. “Water resources are no less important for our country than oil, gas or metals. I believe that the effective development of the water management system should be handled by an independent department,” Tokayev said at the time. Despite the short period of its work, the new Ministry has already had concrete results, the official website of the Prime Minister of Kazakhstan (primeminister.kz) stated in reviewing the country’s economic performance in 2023.  In particular, the concept for the development of a water resources management system for 2024-2030 has been developed. It will allow for the area of irrigated agricultural land in Kazakhstan to increase up to 2.2 million hectares, increase the share of water-saving technologies up to 40%, and reduce the loss of irrigation water during transportation down to 15%. The Ministry has also prepared a plan for the development of the water sector of Kazakhstan for 2024-2030. Its implementation will increase the volume of the country's water resources by 3.7 cubic kilometers, reduce losses of irrigation water and increase its volume by three cubic kilometers, provide water to 41 settlements with a population of more than 55,000 people, and also reduce Kazakhstan's dependence on water supplies from neighboring countries by 25%. In 2024-2026, it is planned to begin construction of 20 new reservoirs and reconstruct 15 reservoirs across the country. A total of 339 canals with a length of 3,5000 km will be reconstructed. The Ministry also conducted negotiations with neighboring states on water security. As a result, it is expected that by April 1st, 2024, 11.1 cubic kilometers of water will flow into the Syr Darya River, and 487 million cubic meters of water are expected to be taken through the Dostyk interstate canal. This will allow for the accumulation of the volume of water required for growing season in Kazakhstan’s Turkestan and Kyzylorda regions, as well as sending 1.6 cubic kilometers of water to the Aral Sea.[/vc_column_text][vc_single_image image="13383" img_size="full" el_class="scond-image" parallax_scroll="no" woodmart_inline="no" title="Butakov Bay, Small Aral Sea. Photo: TCA"][vc_column_text woodmart_inline="no" text_larger="no"]An agreement was reached with upstream Kyrgyzstan on the supply of irrigation water to the Zhambyl region in southern Kazakhstan, which experienced a severe water shortage this past summer. The Ministry is also negotiating with upstream China on more than 20 rivers that flow to Kazakhstan, including the Ertys, Ili, and Emel. Today, the two neighboring countries have reached a consensus on a number of issues regarding water distribution. Finally, a draft agreement is being developed on a mechanism for water and energy cooperation between the countries of Central Asia, with the participation of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan.

Optimism and Gratitude are Main Sentiments of Kazakhstan President’s New Year’s Speech

As 2023 came to a close, Kazakhstan's President Kassym-Jomart Tokayev delivered his New Year address to the population, with a focus on the country's progress as well as the main challenges it has faced over the past year. Critically, he emphasized the increased significance of rule of law in Kazakhstan and noted measures being taken to ensure its endurance. Tokayev also thanked citizens for their role in creating a Just Kazakhstan, where equal opportunities are being made available to everyone. In delineating the country's future trajectory, the President underlined the importance of reforms and modernization, while also citing ambitious projects already undertaken in education and healthcare, as well as the need to strengthen the foundation of nationhood. He expressed belief in Kazakhstan's capacity to tackle upcoming challenges and tasks, with the goal of building a prosperous and competitive state. He also cited population growth as a factor ensuring strength and prosperity. On the economic front, Tokayev highlighted the government’s successful efforts in attracting foreign investment, job creation, and support for small and medium-sized enterprises. He specifically mentioned the ongoing repatriation of illegally acquired assets, which have replenished the state's funding base and have been earmarked for beneficial causes, such as construction of new schools. Regarding foreign policy, Tokayev noted that Kazakhstan has bolstered its international standing through balanced and constructive strategies. Tokayev expressed appreciation for various professionals including teachers, health workers, engineers, farmers, military personnel, law enforcers, and volunteers, whose tireless efforts he lauded as being instrumental to the nation's progress. Tokayev concluded by urging all Kazakhstanis to value the peace and stability in their country. He extended wishes for joy, happiness, good health, and a prosperous 2024.

Investing in the Future: Upgrading Kazakhstan’s Heating and Power Infrastructure

As nations around the globe grapple with the urgency of climate change and the need for sustainable development, one country that stands out is Kazakhstan. With its vast natural resources and strategic location, Kazakhstan has the potential to become a leader in renewable energy and sustainable infrastructure. However, upgrading Kazakhstan's heating and power infrastructure is a significant undertaking that requires substantial time and financial investment. The Challenge Kazakhstan is no stranger to the harsh realities of tough winters. With temperatures often dropping below -30 degrees Celsius and even reaching lows of -52 degrees Celsius in some northern regions, the capacity and resilience of the country's heating infrastructure is tested annually. In a country where winter can last up to six months, maintaining a reliable heating supply isn't just a matter of comfort—it's a matter of survival. However, the extreme weather conditions put a considerable strain on Kazakhstan's heating infrastructure and lead to several challenges. Many of Kazakhstan's heating systems, built during the Soviet era, are showing their age and inefficiency, necessitating an expensive overhaul. These outdated systems often break down, leading to extended periods without heat in the coldest months. A striking example was the 2022 incident in Ekibastuz, a city known for its harsh winters, where residents endured nearly three months without heat due to a power plant failure, which subsequently sparked a government-led corruption investigation. Compounding these issues, Kazakhstan's heating sector heavily relies on fossil fuels, primarily coal. This reliance not only exacerbates environmental pollution but also leads to energy inefficiency. Due to poor insulation in buildings and obsolete heating systems, much of the produced heat is lost, demanding more energy and resources to maintain warmth in homes and businesses. The cost of heating is a significant expense for many Kazakh households, particularly those in rural areas where incomes are lower. The government provides subsidies to help offset these costs, but with energy prices rising globally, this is becoming an increasingly heavy burden on the national budget. The financial aspect of such upgrades is undoubtedly substantial. One source estimates that upgrading transmission and distribution infrastructure alone for all of Central Asia could cost between $25 billion to $49 billion. Additionally, infrastructure projects of this magnitude can take several years to over a decade to implement. For instance, Denmark began its transition to district heating systems and combined heat and power plants in the 1970s, and is still implementing improvements today. Similarly, Germany started its Energiewende (energy transition) initiative in 2000, with goals set for 2050. What Steps Have Been Taken? Efforts are made to upgrade aging systems, improve energy efficiency, and transition to more sustainable sources of energy. In 2023, Kazakhstan significantly upgraded its energy infrastructure, as reported by the Astana Times. The launch of the second Beineu-Zhanaozen gas pipeline and a new distribution pipeline in Mangystau Region improved gas supply, while the completion of the Makat-North Caucasus pipeline met regional demands. The western zone's energy network was fortified with five new power transmission lines. Renewable energy saw...

Charting the Digital Future: Tokayev’s Billion-Dollar Vision

Kazakhstan, a nation rich in natural resources, is charting an ambitious course towards becoming a powerhouse in the Information Technology (IT) sector. The country's President, Kassym-Jomart Tokayev, has recently announced plans to significantly increase investments in IT services, aiming to reach a staggering $1 billion by 2026. This strategic move underscores Kazakhstan's commitment to leveraging technology as a key driver of economic growth and forms part of a broader strategy to diversify its economy away from traditional industries like oil and gas. Investing in Digital Future In a further push towards digitization and diversification, President Tokayev has announced an investment package worth $20 billion until 2025. This extensive funding is aimed at enhancing the diversification of the economy, with a significant portion allocated towards advancements in the IT sector. To this end, a National Digital Investment Platform has been launched in Kazakhstan. This joint initiative between Kazakhstan, the Eurasian Development Bank, and National Information Technologies JSC2 aims to bolster the digital infrastructure and create a conducive environment for tech innovation and development. Collaboration with Global Tech Giants Recognizing the potential of Kazakhstan as a burgeoning hub for digital innovation, several global tech giants have committed to investing in the country in 2023. Microsoft is working to position Kazakhstan as a center for digital innovation, while Amazon Web Services has entered into a collaboration to further integrate Kazakhstan's QazTech platform. These partnerships are expected to bring valuable expertise and technological resources to Kazakhstan's IT sector. Furthermore, Elon Musk's SpaceX company and its satellite-based internet service, Starlink, have undertaken significant investments in Kazakhstan. With total project investments estimated at around $10 billion, this collaboration represents a significant boost to Kazakhstan's burgeoning IT sector. General Electric, a multinational conglomerate, is also playing a role in Kazakhstan's digital transformation, with plans to localize the production of medical equipment in the country. Encouraging Domestic Investments In addition to attracting foreign investments, President Tokayev has called for Kazakh elites to invest domestically, arguing that such investment serves national interests. Kazakhstan's active role within the United Nations General Assembly has been highlighted by President Tokayev. USAID Administrator Samantha Power announced additional investments in Central Asia at the C5+1 Regional Connectivity Ministerial held in Uzbekistan. While not explicitly stated, some of these investments might be directed towards IT-related projects in Kazakhstan. All these initiatives underscore Kazakhstan's ambitious vision for its IT sector, demonstrating the country's commitment to leveraging technology as a key driver of economic growth. As Kazakhstan continues to attract both domestic and international investments, it is set to emerge as a significant player in the global IT landscape.

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