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Business & Economy Kyrgyzstan Business & Economy

AzerGold Eyes Gold Mining Projects in Kyrgyzstan

Azerbaijan’s state-owned mining company AzerGold is exploring potential gold and other mineral projects in Kyrgyzstan as it looks to expand its operations in Central Asia. On September 14, AzerGold Chairman Zakir Ibrahimov met executives from Kyrgyzaltyn, Kyrgyzstan’s state-owned gold mining company, to discuss potential joint mining and exploration projects. The two companies formalized their initial agreement on July 31 in Cholpon-Ata, where AzerGold and Kyrgyzaltyn signed a memorandum of cooperation. A month and a half later, the Azerbaijani delegation traveled to see Kyrgyzstan’s gold mining operations firsthand. One of the stops was the Altynken gold mine in the Chuy Region. It is operated by a joint venture between Kyrgyzaltyn and a subsidiary of China’s Zijin Mining. Kyrgyzaltyn holds 40% of the venture, and Zijin 60%. The AzerGold delegation was shown the mine and its processing facilities. It then traveled to Kyrgyzaltyn’s refinery in Kara-Balta, giving the delegation a view of both extraction and refining operations. For AzerGold, Kyrgyzstan would mark another step in a recently launched international expansion. In June, the company signed an agreement in Tashkent on the joint development of a gold deposit in Uzbekistan, albeit with scant details. AzerGold nevertheless described the Uzbek project as the first major step in its international growth and has identified Central Asia as one of its priority regions for expansion. The talks in Bishkek suggest it is now looking for a second foothold in the region. For Kyrgyzaltyn, interest from a new partner comes after major changes in the country’s gold mining industry. The most significant was the long-running dispute over Kumtor, Kyrgyzstan’s largest gold mine. The government took control of the mine from Canada-based Centerra Gold in May 2021. Under a settlement reached the following year, Centerra transferred ownership of its Kyrgyz subsidiaries to Kyrgyzaltyn, while Kyrgyzaltyn gave up its roughly 26% stake in Centerra. That episode did not end Kyrgyzstan’s use of foreign mining capital. Kyrgyzaltyn remains partnered with Chinese investors at Altynken, while an Indian-backed project at the Altyn-Tor section of the Solton-Sary deposit reached the production stage this month. Kyrgyzaltyn holds 35% of that venture and Avelum Partner, controlled by India’s Deccan Gold Mines, holds 65%. AzerGold could now become another foreign partner in the state company’s portfolio.

Kazakhstan Education Reform Puts 12th Grade Under Review

Kazakhstan is considering whether to eliminate the 12th grade at Nazarbayev Intellectual Schools (NIS), as some families transfer their children to regular schools after the 10th grade so they can graduate a year earlier. Established in 2008, NIS is a state-funded network of elite schools specializing in science, mathematics, and languages. It operates its own 12-year curriculum. Education Minister Zhuldyz Suleimenova said 88% of NIS graduates finish school at age 18, while about 300 received their diplomas at age 19 last year. A commission is examining whether the curriculum can be compressed into 11 grades, with conclusions expected by January 2027. The discussion began after remarks by President Kassym-Jomart Tokayev on August 26. At a national education conference, Tokayev questioned whether it made sense to keep 18-year-olds in school and instructed officials to review the 12-year programs at NIS and private schools. Possible changes would also affect international programs. Suleimenova referred to the uniform national standard for school education enshrined in Kazakhstan’s new Constitution, which took effect on July 1. No decision has yet been made to eliminate the 12th grade. The commission is comparing the curricula of NIS and regular schools and calculating the number of instructional hours. NIS has a longer school day, roughly from 8 a.m. to 5 p.m., plus eight hours of individual instruction a week. In regular schools, the main curriculum ends after the ninth grade; at NIS, it ends after the 10th. In the 11th grade, students at regular schools take state examinations while preparing for the Unified National Testing, Kazakhstan’s university entrance exam. NIS students have another year. There is a historical irony to the current debate. For more than two decades, Kazakhstan prepared to move in the opposite direction by making 12 years of schooling the national standard. The transition had been discussed since the early 2000s, and by 2012 the new model was being tested in more than 100 schools. The timetable was postponed several times, in part because of insufficient infrastructure. As recently as 2019, a full transition was planned for 2021. But the 12th grade ultimately took root mainly at NIS and some international schools. Today, the NIS network includes 22 Intellectual Schools and three international schools, with about 20,000 students and more than 2,600 teachers. Its schools use the NIS Programme and the International Baccalaureate. More than 4.1 million children are attending Kazakhstan’s schools in the 2026/27 academic year, including about 227,000 in the final 11th grade. The number of years spent in school, however, is only one part of the discussion. There is also an external measure of educational outcomes. On September 8, the same day Suleimenova spoke, the Organisation for Economic Co-operation and Development (OECD) released the results of the 2025 Programme for International Student Assessment (PISA). Students in Kazakhstan scored 420 points in science, 414 in mathematics, and 385 in reading. The respective OECD averages were 482, 463, and 461. More than 41% of participants from Kazakhstan failed to reach the baseline Level 2 in...

International Affairs Kazakhstan International Affairs

Kazakhstan Courts South Korean Investment During Tokayev’s Seoul Visit

Kazakhstan is using President Kassym-Jomart Tokayev’s state visit to Seoul to press for deeper South Korean involvement in its critical-minerals sector, seeking to extend a relationship already built around cars, energy, and infrastructure into mining and processing. On September 15, Tokayev is holding talks with South Korean President Lee Jae Myung, with a packed agenda that includes trade, energy, critical minerals, and artificial intelligence. The two sides are expected to exchange 13 bilateral memorandums of understanding following the meeting. Ahead of the visit, Kazakhstan’s Foreign Minister Mukhtar Tileuberdi told South Korea’s Yonhap News Agency that artificial intelligence and critical minerals were among the promising areas for expanded cooperation. South Korea is a major producer of cars, batteries, electronics, and semiconductors, but is heavily dependent on imported critical minerals and other raw materials. Kazakhstan, meanwhile, has a large mineral resource base and is seeking foreign technology and capital for exploration, mining, and processing. On September 14, Nurlan Zhakupov, CEO of Kazakhstan’s sovereign wealth fund Samruk-Kazyna, met South Korean Minister of Trade, Industry and Resources Kim Jung-kwan in Seoul. They discussed oil and gas projects, energy, and the mining and metallurgical sector. Zhakupov held separate talks with Kwon Yi Kyun, president of the Korea Institute of Geoscience and Mineral Resources (KIGAM), focused on geological exploration and the extraction of critical minerals. KIGAM has been cooperating with Tau-Ken Samruk since 2024, when it signed a memorandum with the Kazakh mining company and the Ministry of Industry and Construction. The two sides are exploring opportunities in mineral resources and processing technologies. Kazakhstan and South Korea are also establishing a joint research center in Almaty to study rare-earth elements and other strategically important metals.. The center is intended to support research into processing technologies and train specialists. Korean business is already well established in energy. Hyundai Engineering is part of the consortium selected to build a gas processing plant at the Karachaganak field with an annual capacity of 5 billion cubic meters. QazaqGaz is leading the project, with Hyundai Engineering and Italy’s SICIM serving as EPC contractors. The presence of South Korea’s automotive industry in Kazakhstan dates back even further. Hyundai vehicles are produced in Almaty, while Kia opened a $310 million plant in Kostanay in 2025 with capacity to produce up to 70,000 vehicles a year. South Korea and the Broader Region Seoul is stepping up its engagement with Central Asia as a whole. On September 14, South Korea held its first industry ministerial meeting with the five countries of the region, with critical minerals and supply chains among the main topics. The first South Korea-Central Asia Summit is scheduled for September 16. Major economies are already competing for mineral projects in the region. China has long been involved in mining and processing, the European Union is developing raw-material partnerships with Kazakhstan and Uzbekistan, and the United States is stepping up its work on critical minerals. South Korea is also gaining a financial tool for such projects. In May, Korea Eximbank and the state-backed...

Business & Economy Uzbekistan Business & Economy

ICT Week Uzbekistan 2026 Brings Startups and Investors to Tashkent

Tashkent will host ICT Week Uzbekistan 2026 from September 22 to 25, bringing together startup founders, investors, technology companies, and industry experts from Uzbekistan and abroad. The four-day event will be held at CAEx, the Central Asian Expo Uzbekistan exhibition center. Its startup and investment programme will focus on technology entrepreneurship, venture capital, and the international expansion of Uzbek companies. The Times of Central Asia is a media partner of ICT Week Uzbekistan 2026 and will cover key developments and discussions taking place during the event. The startup and investment programme will begin on September 22 with the Startup & Venture Summit, which is expected to bring together representatives of the global startup ecosystem. Discussions will focus on developing the regional venture market, access to capital, international expansion, and the roles of public and private investors in building startup ecosystems. On September 23, the Enterprise Uzbekistan Summit will focus on Uzbekistan’s development as a technology jurisdiction for international businesses. The programme will address legal certainty, institutional infrastructure, and conditions for attracting foreign technology companies and investment. The summit will include presentations by Enterprise Uzbekistan, keynotes from EY and BDO, a fireside chat involving IT Park Uzbekistan and Enterprise Uzbekistan, and a panel discussion titled “Rethinking Jurisdictions for the Global Technology Economy.” The same day will also feature the Global Startup Ecosystem Awards by StartupBlink, held in cooperation with IT Park Uzbekistan. The ceremony will recognize cities, countries, and regions that have performed strongly in StartupBlink's global rankings. It will be followed by a discussion on best practices in startup ecosystem development, with participants expected to examine factors behind successful ecosystems and how developing technology markets can use existing experience. One of the main events of the week will be the regional final of the Startup World Cup on September 24. Selected startups will present live pitches to an international jury and venture capital representatives. The winner will have an opportunity to advance to the global Startup World Cup in San Francisco, where finalists from around the world will compete for a $1 million investment prize. Artificial intelligence will also have a major role in this year’s programme. The AI Native: Ideas to Innovation event on September 24 will explore the development of AI ideas into technology and business products, covering areas such as large language models, cloud technologies, multilingual AI, robotics, AI agents and business automation. The programme will also look at opportunities for young specialists through AI education, hackathons and career paths. The technical side of technology growth will receive attention on September 25 during AWS Community Day Uzbekistan, which will focus on cloud technologies and solutions for scaling digital products. The final day will also feature the Ignyte AI Challenge, where startup teams will present AI-based solutions to international experts, as well as TAQDIMOT, a Startup Show & Pitch Battle featuring short presentations from technology projects. The startup-focused programme is part of a broader ICT Week agenda. Other events include several AI-focused forums and sessions, the Fintech Forum,...

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South Korea and Uzbekistan Sign 13 Agreements as Seoul Deepens Cooperation Across Central Asia

Uzbekistan and South Korea signed 13 cooperation documents during President Shavkat Mirziyoyev’s visit to Seoul on September 14, covering areas including critical minerals, artificial intelligence, rail transport and defense. South Korean President Lee Jae Myung will host the first summit with all five Central Asian states on September 16. The five Central Asian presidents due to attend are Kazakhstan’s Kassym-Jomart Tokayev, Uzbekistan’s Shavkat Mirziyoyev, Kyrgyzstan’s Sadyr Japarov, Tajikistan’s Emomali Rahmon, and Turkmenistan’s Serdar Berdimuhamedov. Mirziyoyev’s talks opened a series of bilateral meetings running through September 16, with Kazakhstan and Turkmenistan scheduled for September 15, and Tajikistan and Kyrgyzstan the following morning. Among the Uzbek agreements is a memorandum to launch feasibility studies under South Korea’s Economic Development Cooperation Fund on the introduction of eight high-speed train sets and the establishment of a national genome and biobank center. The projects’ scope will depend on the studies’ findings. Uzbekistan had already agreed to purchase six high-speed trains from Hyundai Rotem in 2024. The Export-Import Bank of Korea and Uzbekistan’s investment ministry also agreed to identify potential projects and explore financing in six priority areas. These include critical minerals, AI and data centers, smart cities, an industrial complex for Korean companies, pharmaceuticals and biotechnology, and food, beauty and cultural industries. The presidents also agreed to use the Korea–Uzbekistan Rare Metals Center as a base for strengthening cooperation across exploration, development and processing. They agreed to expand cooperation on the use of AI in manufacturing. The package includes a defense cooperation contract involving Korea Aerospace Industries and an Uzbek counterpart. The South Korean government’s published summary did not identify the equipment or disclose the contract’s value. The agreements build on South Korea’s established economic presence across Central Asia. Its foreign ministry identifies Kazakhstan as its largest investment destination in the region, based on investment data through 2023. Kazakhstan’s industry ministry has put bilateral industrial cooperation at 46 joint projects worth about $3.9 billion, covering Hyundai and Kia vehicle production, Hyundai trucks and buses, ferroalloys and Samsung home appliances. Hyundai Trans Kazakhstan, part of Kazakhstan’s Astana Motors, produced 52,040 vehicles in Almaty in 2025, while Kia Qazaqstan began operating in Kostanay late that year, according to TCA’s reporting on Kazakhstan’s automotive industry. Korean companies are also involved in transport infrastructure and urban development. A Turkish–South Korean consortium secured the Big Almaty Ring Road public-private partnership, while South Korean partners are involved in the planned K Smart City district at Alatau. South Korean companies have participated in major industrial projects in Turkmenistan, including the Kiyanly gas chemical complex and gas processing facilities at the Galkynysh field. Daewoo Engineering & Construction is working on a mineral fertilizer production complex in Turkmenabat, where South Korea’s ambassador reviewed construction preparations in June. Turkmenistan’s foreign ministry has also highlighted Korean participation in transport infrastructure and shipbuilding. In Kyrgyzstan, South Korea has provided technical assistance to the textile sector and committed funding for a five-year digital-transformation program starting in 2026. The two governments are also examining potential cooperation involving Kyrgyzstan’s antimony...

Business & Economy Kyrgyzstan Kyrgyzstan Business & Economy

Indian Gold Mining Project in Kyrgyzstan Reaches Production Stage

An Indian-backed gold project has moved into the production stage at the high-altitude Solton-Sary deposit in Kyrgyzstan, nearly five years after its developer signed an agreement with the state-owned Kyrgyzaltyn company. Deccan Gold Mines says it is the first Indian investment in Kyrgyzstan’s gold mining sector to reach this stage. On September 12, a gold processing plant began test operations at the Altyn-Tor section of the Solton-Sary deposit in the Naryn Region. The project is being developed by Avelum Partner, in which India’s Deccan Gold Mines holds a controlling stake, together with Kyrgyzaltyn. The two sides have been working together since December 2021. Under their partnership agreement, Kyrgyzaltyn holds a 35% stake, while Avelum Partner holds 65%. The project involves the comprehensive development of Altyn-Tor, including the processing of accumulated tailings and waste rock. Solton-Sary is located about 355 kilometers from Bishkek at an altitude of 3,500–3,600 meters. Soviet geologists first studied the deposit, and trial production at Altyn-Tor began in 1994. Operations have since been intermittent. Investment in the project reached $34.2 million by the end of August 2026. The foundation stone for the new plant was laid in July 2024. At the time, Kyrgyzaltyn said that once the facility reached its planned operating capacity, it was expected to create at least 400 jobs, more than 95% of them for Kyrgyz citizens. The agreement also stipulates that commercial-grade gold produced at the facility must be transferred to Kyrgyzaltyn and cannot be exported independently by the Indian partner. The structure is significant in a mining sector where foreign ownership has repeatedly become politically contentious. The most prominent example is Kumtor, Kyrgyzstan’s largest gold mine, which the government took under state control from Canada’s Centerra Gold in 2021. A settlement the following year transferred ownership to Kyrgyzaltyn. At Altyn-Tor, by contrast, Kyrgyzaltyn remains a partner in the project while the foreign investor provides most of the investment. Chinese investment is also present at Solton-Sary itself, although its history there has been considerably more complicated. The deposit consists of three main gold-bearing sections – Altyn-Tor, Buchuk, and Ak-Tash. Total gold reserves have been estimated at about 20 metric tons. Buchuk is being developed by the Kyrgyz-Chinese company Zhong Ji Mining. Explored gold reserves at the site are estimated at 12 metric tons, while geologists have indicated a possible additional 22 metric tons of gold resources. The project became the center of a major dispute over foreign mining investment in 2019. In August of that year, hundreds of residents of the Naryn Region gathered near Zhong Ji Mining’s operations. Local residents linked mining activity to livestock deaths and feared environmental contamination. On August 5, the protest escalated into clashes with Chinese workers, and more than 20 people received medical treatment. The authorities suspended operations, while the company removed some of its workers and equipment. When President Sadyr Japarov visited Solton-Sary in 2022, the Chinese project was still not operating. Local residents again raised concerns about the environment and the condition of roads. Japarov said...