TCA
ASTANA (TCA) — The Ile-Balkhash State Nature Reserve has been created by Kazakh Government Decree issued on 27 June 2018. The area of the new reserve is 415,164 hectares and it is located in Almaty Region’s Balkhash District.
TCA
ASTANA (TCA) — French pharmaceutical company Servier and KAZAKH INVEST National Company for Investment Support and Promotion signed an agreement on cooperation in pharmaceutical production. The document was signed by Servier’s EAEU Managing Director Jerome Gavet and KAZAKH INVEST Chairman Saparbek Tuyakbayev, at the Kazakhstan Global Investment Roundtable in Astana on July 3, the Kazakh company said.
TCA
ASTANA (TCA) — In an attempt to bolster the country’s role as a major financial hub in Central Asia and along the route of the Belt and Road Initiative the government of Kazakhstan has officially inaugurated the Astana International Financial Centre (AIFC) in the capital today, July 5.
The European Bank for Reconstruction and Development (EBRD), a major partner in the initiative and longstanding investor in Kazakhstan, was represented by Natasha Khanjenkova, Managing Director, Central Asia, and Agris Preimanis, Director, Head of Kazakhstan.
The AIFC development plays an important role in the overall reform agenda of the country: it will help channel domestic and foreign investment to Kazakhstan, stimulate growth, set new standards of corporate governance, and promote skills transfer and green innovation.
The Centre is expected to attract international investors to finance large-scale infrastructure projects and will play a vital role in the privatisation of large blue-chip companies – one the country’s key reform challenges. The AIFC will be governed by English law and subject to international arbitrage, a precedent both for the country and the region.
Following the signing of a Memorandum of Understanding between the AIFC and the EBRD in 2016, the Bank supported the introduction of green financing under the AIFC and helped review the exchange rules for the Astana International Exchange (AIX). In particular, these rules will govern the establishment and operation of the AIX, set the fundamental principles for market transactions and rules of trading on the exchange.
Natasha Khanjenkova said: “I am sure that the development of the AIFC will help create a competitive, efficient and transparent financial market in Kazakhstan, Central Asia and the wider region. We at the EBRD are particularly pleased with the level of understanding and partnership between the two institutions and the commitment of the AIFC management.”
In 2017, the EBRD approved its new country strategy for Kazakhstan and signed a three-year Enhanced Partnership Framework Arrangement with the country aimed at the modernisation and diversification of the national economy.
To date, the EBRD has invested over US$ 8.7 billion in the economy of Kazakhstan.
TCA
ASTANA (TCA) — The agro-industrial sector of Kazakhstan is a promising platform for attracting foreign investments, Deputy Prime Minister and Minister of Agriculture Umirzak Shukeyev said at the round table “Agro-industry: ensuring food security on the new Silk Road”, held as part of the Kazakhstan Global Investment Roundtable in Astana on July 3, Kazakh Invest National Company for Investment Support and Promotion reported.
TCA
ASTANA (TCA) — Kazakhstan intends to increase oil production from the current 87 million tons per year to more than 100 million tons in 2025, Energy Minister Kanat Bozumbayev said at the roundtable “Kazakhstan’s Energy Potential — Investments into a New Stage of Development”, held as part of the Kazakhstan Global Investment Roundtable in Astana on July 3, Kazakh Invest National Company for Investment Support and Promotion reported.
TCA
KABUL (TCA) — The US Defense Department on July 3 provided to the Congress its semiannual report titled “Enhancing Security and Stability in Afghanistan”. Covering events from December 1 to May 31, the report stated that with the implementation of the South Asia Strategy optimism has grown that a political settlement with the Taliban is possible, Afghan broadcaster TOLOnews reported.
