• KGS/USD = 0.01151 0.87%
  • KZT/USD = 0.00217 0%
  • TJS/USD = 0.09413 -0.42%
  • UZS/USD = 0.00061 0%
  • KGS/USD = 0.01151 0.87%
  • KZT/USD = 0.00217 0%
  • TJS/USD = 0.09413 -0.42%
  • UZS/USD = 0.00061 0%
  • KGS/USD = 0.01151 0.87%
  • KZT/USD = 0.00217 0%
  • TJS/USD = 0.09413 -0.42%
  • UZS/USD = 0.00061 0%
  • KGS/USD = 0.01151 0.87%
  • KZT/USD = 0.00217 0%
  • TJS/USD = 0.09413 -0.42%
  • UZS/USD = 0.00061 0%
  • KGS/USD = 0.01151 0.87%
  • KZT/USD = 0.00217 0%
  • TJS/USD = 0.09413 -0.42%
  • UZS/USD = 0.00061 0%
  • KGS/USD = 0.01151 0.87%
  • KZT/USD = 0.00217 0%
  • TJS/USD = 0.09413 -0.42%
  • UZS/USD = 0.00061 0%
  • KGS/USD = 0.01151 0.87%
  • KZT/USD = 0.00217 0%
  • TJS/USD = 0.09413 -0.42%
  • UZS/USD = 0.00061 0%
  • KGS/USD = 0.01151 0.87%
  • KZT/USD = 0.00217 0%
  • TJS/USD = 0.09413 -0.42%
  • UZS/USD = 0.00061 0%

Viewing results 157 - 162 of 211

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 Berdymuhamedov 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.

Kazakhstan Secures Foreign Investment in 40 Major Projects for 2024

Following a meeting on March 12th with the Board of Directors of Kazakh Invest, Kazakhstan’s Prime Minister Olzhas Bektenov announced that foreign investment had been secured for the launch of over 40 projects this year. Kazakh Invest, a national company aimed to attract foreign investment in priority sectors of the economy, currently supports 200 projects. Worth $27.3 billion, the projects have created 68,800 jobs. One of the most significant projects is the manufacture of medical equipment by the American company GE Healthcare in Astana. Products include ultrasound and CT machines for Kazakhstan’s hospitals as well as for export. The American company also plans to provide educational programs for staff in the Kazakh healthcare system. Other forthcoming projects include the production of anticancer drugs by the Swiss company Roche in Almaty, and the manufacture of ceramic tiles, dry building mixes and construction adhesives by the Austrian company Lasselsberger in Astana. The latter’s new plant will create over 200 jobs and reduce the country’s dependence on imported products. As instructed by the prime minister, Kazakh Invest is focused on attracting investment in projects with high added value; specifically, grain processing, the production of in-demand types of plastics, and the domestic production of oil and gas equipment. Looking ahead, Bektenov stressed that to achieve the target set by the head of state to increase the economy to $450 billion by 2029, at least $150 billion of foreign investment must be attracted during the intervening period.

Kazakhstan and Great Britain Sign Strategic Partnership on Critical Minerals

A strategic partnership on critical minerals has been signed by Iran Sharkhan, Kazakhstan’s Deputy Minister of Industry and Construction, and Nusrat Ghani, UK’s Minister of State at the Department for Business and Trade, Minister of State for the Investment Security Unit, and Minister for Industry and Economic Security. The document was signed in London at the Mineral Processing and Circular Economy Business Forum (March 11-15). At his meeting with Nusrat Ghani, Mr Sharkhan discussed Kazakhstan’s principal aims, including the exchange of raw materials for technology and entry into the global value chain. He also encouraged British companies’ involvement in investment projects in Kazakhstan. The forum included B2B meetings, where entrepreneurs from Kazakhstan and Great Britain discussed collaboration in the field of critical raw materials and specific project proposals. The Kazakh delegation also held meetings with UK mining and metallurgical companies: Techmet, Maritime House Ltd., Ionic Rare Earth, Mkango Resources Ltd., Haig Barrett Partners, and FSEE.

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.

US Policymakers and Central Asian Business Leaders Gather in Almaty for the CIPE B5+1 Forum

Cooperation and trade with Central Asia still holds much unrealized potential. The region is developing fast and offers opportunities for companies and agencies, both international and local. As the global geopolitical landscape changes and supply chains are disrupted, the importance of Central Asia as a business and transit hub, through initiatives such as the Trans-Caspian Corridor, is growing.  There are therefore great incentives for the five countries of the region – Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan and Turkmenistan – to find ways to function as a single integrated market, in order to capitalize on opportunities for foreign and local companies, and attract more international investment and business.  For this reason the Center for International Private Enterprise (CIPE) is inviting policymakers from Central Asia, the United States and other countries to its B5+1 Forum this week. On 14 and 15 March in Kazakhstan’s business capital of Almaty, leading minds from the public sector will discuss Central Asia’s economic integration, international trade and investment, alongside dozens of high-profile private companies.  An event on 14 March entitled “Looking within Central Asia” will introduce the objectives and expected outcomes of the B5+1 format. Presentations by representatives of Kazakhstan’s Ministry of National Economy, the Caspian Policy Center, the US Department of State and Kyrgyzstan’s Ministry of Economy and Commerce will give business-focused perspectives on improving economic integration and the investment climate.  The discussion on 15 March will center on the theme of “Central Asia’s place in the world economy”. Talks from representatives of the US-Kazakhstan Business Council, the American-Uzbekistan Chamber of Commerce and the European Bank for Reconstruction and Development (EBRD) will give an international perspective on promoting trade and investment flows in Central Asia. The B5+1 Forum forms part of CIPE’s program “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 outlined in a document called the New York Declaration to strengthen the republics' 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.

Kazakh-European Proposal for CRM and Green Hydrogen Strategy

Some 60 high-ranking officials from the European Union and representatives of the EU business community attended a meeting on March 5th organized by the Kazakh Embassy in Belgium. A high-level event, its key focus was Kazakh-European cooperation on critical raw materials (CRM), green hydrogen and batteries. In November 2022, Kazakhstan and the European Union signed a Memorandum of Understanding on sustainable raw materials, batteries, and renewable hydrogen value chains, and adopted a Roadmap for its implementation in 2023. At the meeting on March 5th, Bolat Akchulakov, energy advisor to the president of Kazakhstan, emphasized the importance of the Kazakhstan-EU Memorandum of Understanding for strategic partnership in achieving common objectives of green transition. Luc Devigne, deputy managing director for Eastern Europe and Central Asia of the European External Action Service (EEAS), praised the development of the Kazakhstan-EU relationship as a “success story of cooperation.” Referencing the EU’s readiness to further strengthen this partnership, he stated that it would ensure both the sustainability of supply chains and the achievement of common goals regarding climate change. As part of the event, Kazakhstan’s national company Kazakh Invest presented a report on CRM at its Brussels office. Kazakhstan produces 19 of the 34 critical raw materials listed by the European Union. Kazakh manufacturers currently supply the EU with beryllium, tantalum, and titanium but have the potential to further exploit the country's cache of other raw materials. By establishing plants to process reserves of nickel, cobalt, manganese, and lithium, Kazakh enterprises will be able to produce batteries, essential for electric vehicles.

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