Page 163 – The Times Of Central Asia

14 Aug 2025

Business & Economy, Kazakhstan, Kazakhstan Business & Economy

ValueLBH Fund to Invest Up to $1.5 Billion in Kazakhstan’s Economy

August 14, 2025
By Dmitry Pokidaev

Kazakhstan is exploring joint investment projects worth up to $1.5 billion with international investment firm ValueLBH Fund, targeting key sectors of the national economy.

Talks were held in Astana between Gabidulla Ospankulov, Chairman of the Investment Committee under the Ministry of Foreign Affairs of Kazakhstan, and Shimon Ben Hamo, Chairman of the Board of Directors of Dan Capital and Managing Director and Partner at ValueLBH Fund.

The discussions focused on expanding investment cooperation and launching projects in transport and logistics infrastructure, agriculture, raw materials processing, renewable energy, oil refining, and high-tech manufacturing.

According to Kazakhstan’s Ministry of Foreign Affairs, the two sides examined specific initiatives such as the construction and modernization of logistics hubs linked to international transport corridors, the deployment of advanced technologies in agriculture, the creation of joint ventures in solar and wind energy, and the development of domestic oil refining capacities.

Ospankulov stated that Kazakhstan is prepared to offer a comprehensive range of state support measures while ensuring access to global markets. “Partnerships with leading investment funds create valuable opportunities for Kazakhstan to diversify its economy and introduce cutting-edge technologies,” he said.

Ben Hamo underscored the country’s strategic location and stable macroeconomic fundamentals, highlighting its potential for integration into global supply chains. The parties agreed to continue consultations and explore the signing of framework agreements.

ValueLBH Fund operates across real estate, energy, infrastructure, and agribusiness, with a strong commitment to environmental sustainability and social responsibility.

As previously reported by The Times of Central Asia, the Eurasian Development Bank (EDB) recently launched the Eurasian Transport Network Observatory, a database tracking 325 infrastructure projects across 13 countries, representing a combined investment of $234 billion as of July 1, 2025.

14 Aug 2025

Home, Turkmenistan Business & Economy, Business & Economy, Turkmenistan Features

Turkmenistan and Iran to Build Dual-Gauge Rail Lines at Sarakhs Border Crossing

August 14, 2025
By Sadokat Jalolova

Turkmenistan and Iran have agreed to construct two new railway lines at the Sarakhs border crossing to enhance freight transport between the two countries, Iranian Railways chief Jabbar Ali Zakeri announced following talks with Turkmenistan’s Minister of Railways, Mammet Akmammedov.

The agreement was reached during bilateral meetings in Turkmenbashi, held on the sidelines of the Third UN Conference on Landlocked Developing Countries, Iran’s Ministry of Roads and Urban Development reported on August 12, according to Biznes Turkmenistan.

Zakeri stated that the project will include the construction of one standard-gauge and one broad-gauge line connecting the Sarakhs stations on both sides of the border. He emphasized the significance of expanding rail infrastructure to improve regional connectivity and noted that technical discussions between the two countries’ rail administrations would follow shortly.

The Sarakhs crossing is a critical transit hub linking Iran to Central Asia and forms part of the International North-South Transport Corridor, aimed at facilitating trade between Asia and Europe.

This initiative aligns with Turkmenistan’s broader strategy to diversify its export routes. Despite possessing the world’s fourth-largest natural gas reserves, the country has long struggled to access stable foreign markets.

In October 2024, Ashgabat signed a landmark deal to supply 10 billion cubic meters of gas annually to Iraq, its first major export agreement in nearly two decades. While Turkmenistan maintains two gas pipelines to Iran with a combined capacity of 20 billion cubic meters, exports have been minimal since 2017 due to ongoing payment disputes.

14 Aug 2025

Home, Kyrgyzstan, Business & Economy, Kyrgyzstan Business & Economy

Kyrgyzstan and Afghanistan Aim to Boost Trade and Economic Ties

August 14, 2025
By Sergey Kwan

Kyrgyzstan and Afghanistan have agreed to open trading houses in each other’s countries as part of a broader effort to deepen bilateral trade and economic cooperation.

The agreement was reached on August 13 during the visit of an Afghan delegation to Bishkek, led by Nooruddin Azizi, Acting Minister of Industry and Commerce of the Islamic Emirate of Afghanistan.

Azizi met with the Kyrgyz Minister of Economy and Commerce, Bakyt Sydykov. The two ministers signed a roadmap for future cooperation, along with a memorandum of understanding focused on enhancing trade and economic ties.

Sydykov described the visit as a significant step toward strengthening bilateral relations and highlighted Kyrgyzstan’s interest in exploring new, mutually beneficial areas of cooperation. He noted that the two countries hold considerable potential for expanding trade.

Discussions also touched on digitalization, with the Kyrgyz side offering to share its experience in the sector with Afghan partners.

According to Afghanistan’s Ministry of Industry and Commerce, the two countries recorded $66 million in bilateral trade during the last solar year (March 2024-March 2025), with Afghan exports accounting for $7 million of that figure. Key Afghan exports to Kyrgyzstan include aluminum and copper utensils, pressure cookers, carpets, fruits, and vegetables.

In January-February 2025 alone, Kyrgyzstan exported $11.5 million worth of petroleum products to Afghanistan, according to Kyrgyz media.

Trade between the two countries has seen an uptick following Kyrgyzstan’s September 2024 decision to remove the Taliban from its list of prohibited organizations. The Kyrgyz Ministry of Foreign Affairs said the move was aimed at promoting regional stability and fostering constructive dialogue.

On September 6, 2024, then-Chairman of the Cabinet of Ministers Akylbek Japarov met with Afghanistan’s Chargé d’Affaires in Kyrgyzstan, Nurullah Amin, to discuss ways to advance bilateral relations. The Kyrgyz side expressed interest in enhancing trade and transport links, jointly developing Afghan mineral resources, and cooperating in energy, industry, and agriculture.

14 Aug 2025

Home, Life & Culture, Kazakhstan Life & Culture, Kazakhstan, Kazakhstan Featurees

Kazakhstan to Freeze Minimum Wage in 2026 Despite Earlier Promises

August 14, 2025
By Dmitry Pokidaev

Kazakhstan will maintain its current minimum wage of 85,000 KZT per month (approximately $157) in 2026, Deputy Prime Minister and Minister of National Economy Serik Zhumangarin confirmed at a recent press conference.

This announcement contradicts earlier statements made in June by Minister of Labor and Social Protection Svetlana Zhakupova, who indicated that the government intended to raise the minimum wage from January 1, 2026. Finance Minister Madi Takiev had even suggested a possible increase to just over 90,000 KZT ($166). However, Zhumangarin stated that the proposed adjustment has been scrapped.

“We currently have no plans to increase the minimum wage. As of today, it remains at 85,000 KZT, and we are not considering an increase at this time,” he said.

Zhumangarin noted that while pensions and benefits are indexed annually to inflation, the government has allocated 800 billion KZT ($1.4 billion) in the 2026 budget to cover these costs. Takiev added that while calculations had been made for a potential increase, “given the current situation,” the decision was made to leave the wage unchanged.

The minimum wage was last raised in January 2024, from 70,000 KZT ($135 at the time) to its current level. Some members of parliament have called for a broader review of the minimum wage, the minimum subsistence level, and the structure of the official food basket.

In response to a reporter’s question, Zhumangarin acknowledged that he himself could not live on 85,000 KZT per month under current market conditions but stressed that the issue must be approached cautiously.

According to the Ministry of Labor, approximately 170,000 people in Kazakhstan currently earn the minimum wage, while another 160,000 earn around 100,000 KZT monthly. As of the first quarter of 2025, the total number of employed individuals in the country stood at 9.3 million.

Over the summer, AMANAT parliamentary faction leader Yelnur Beisenbayev criticized government statistics, particularly the official average salary figure of 423,000 KZT ($830).

“In our country, three million people earn around 200,000 KZT, of whom 1.8 million live on the minimum wage of 85,000 KZT. So the question arises: who earns 423,000? I believe the government calculates it like this: if Asan earns 1 million KZT, and Yessen and Usen earn 100,000 each, then the average among them is 400,000,” he remarked.

14 Aug 2025

Justice, Kyrgyzstan Justice, Kyrgyzstan, Kyrgyzstan Features

Kyrgyzstan Parliament’s Secret Polygamy Law Repeal Blocked by President Japarov

August 14, 2025
By Anton Chipegin

On June 25, 2025, Kyrgyzstan’s parliament, the Jogorku Kenesh, voted to repeal Article 176 of the Criminal Code, which criminalizes polygamy. The initiative was debated behind closed doors, without public hearings, and only came to light after the bill was submitted to President Sadyr Japarov for approval.

According to the presidential administration, Japarov returned the bill for further revision. Before doing so, he sought official assessments from several key state bodies, including the Ombudsman’s Office, the Prosecutor General’s Office, the National Agency for Religious Affairs, the National Academy of Sciences, the Ministry of Justice, and the Constitutional Court.

These institutions concluded that the proposal was incompatible with Kyrgyzstan’s Constitution and its international commitments, including the Convention on the Elimination of All Forms of Discrimination against Women (CEDAW) and the Convention on the Rights of the Child (CRC).

In an explanatory note, the president stated that retaining criminal liability for polygamy “demonstrates a commitment to the principles of gender equality and the rule of law, protects women and children from legal and social inequality, and contributes to strengthening the institution of the family.”

Under the current law, polygamy in Kyrgyzstan is classified as a minor offense. It is punishable by a fine ranging from 50,000 to 100,000 KGS (approximately $570 – $1,140), and criminal proceedings can only be initiated at the request of the victim. The Family Code permits only one officially registered marriage, and the civil registry office is not authorized to record second or subsequent unions.

14 Aug 2025

Home, Tajikistan Business Economy, Tajikistan, Business & Economy

Tajikistan and Flanders Explore Closer Ties in Industry, Tourism, and Trade

August 14, 2025
By Vagit Ismailov

A delegation from the Belgian region of Flanders is currently visiting Dushanbe for official meetings aimed at expanding cooperation with Tajikistan. The visit, which began on August 11 at the invitation of the Dushanbe city authorities, will continue through August 16. The Flemish delegation is led by Jill Willems Suetens, head of the Protocol and Administrative Department.

Focus Areas: Industry, Innovation, and Investment

Talks are centered around collaboration in the light and textile industries, mechanical engineering, pharmaceuticals, food production, and artificial intelligence. Tourism and trade, meanwhile, have been highlighted as key priorities.

The Belgian side has been invited to take part in upcoming events organized by the Ministry of Industry and the Dushanbe Invest 2025 International Investment Forum, scheduled for October.

During their visit, the Flemish representatives have held meetings with senior officials from the Dushanbe city administration, the Ministry of Industry and New Technologies, the State Committee for Investment, the National Academy of Sciences, the Committee for Tourism Development, the Chamber of Commerce and Industry, the Smart City State Unitary Enterprise, and the International University of Tourism and Entrepreneurship.

The State Committee for Investment presented Tajikistan’s potential to foreign investors, emphasizing tourism and trade as sectors with high growth prospects.

To gain a deeper understanding of the country’s history and culture, the delegation is also visiting prominent sites such as the National Museum, the Kohi Navruz palace complex, the Central Mosque, the Plov culinary center, the Mehrgon market, the Gissar Fortress, and the Varzob region. The cultural itinerary aims to promote Tajikistan’s tourism offerings and foster deeper exchange.

Flanders: An Economic Powerhouse

Flanders is one of Belgium’s primary industrial and commercial hubs and is home to the country’s largest ports, Antwerp, Bruges, Ghent, and Ostend. The region has a population of 6.8 million, comprising 58% of Belgium’s total population.

In 2024, Flanders ranked 15th globally by export volume. Its main export commodities include chemical products, pharmaceuticals, transport vehicles, textiles, machinery, fruit, plastics, and precious stones.

Trade between Tajikistan and Flanders surpassed €108 million in 2024. Tajikistan accounted for €102.36 million in exports, while Flanders exported €5.73 million worth of goods to Tajikistan.