Page 342 – The Times Of Central Asia

17 Mar 2025

Central Asia, Kazakhstan Local Politics, Local Politics, Kazakhstan

Kazakhstan to Establish Nuclear Energy Agency

March 17, 2025
By Vagit Ismailov

Kazakhstan will create a Nuclear Energy Agency, President Kassym-Jomart Tokayev announced during a session of the National Kurultai (annual assembly).

“Given the special significance of this issue, I have decided to establish the Agency for Nuclear Energy under the President. We must maximize the potential of gas and coal-fired generation, as well as renewable energy sources,” Tokayev said.

Tokayev emphasized the need for a comprehensive, long-term approach to energy sector development.

“By approving the construction of the first nuclear power plant in a referendum, citizens have given the green light to this initiative. However, it is crucial not only to meet current energy demands but also to lay the foundation for future economic growth. That is why I believe it is necessary to construct not one, but three nuclear power plants to establish a full-fledged nuclear cluster,” he said.

Kazakhstan held a referendum on October 6, 2024, regarding the construction of its first nuclear power plant. According to the Central Election Commission, 63.66% of eligible voters participated, with 71.12% (5.56 million people) supporting the project.

In January 2025, the government finalized a shortlist of potential technology suppliers for the plant. The candidates include Russia’s Rosatom, South Korea’s KHNP, China’s CNNC, and France’s EDF.

Simultaneously, authorities are completing an analysis of possible locations for the second and third nuclear power plants. The final construction plan is expected to be unveiled in the second quarter of 2025, with the city of Kurchatov among the potential sites under consideration.

14 Mar 2025

Home, Silk Road Treasures, Life & Culture, Kazakhstan Life & Culture, Kazakhstan

Kazakh Theatrical Performance Breaks Annual Record

March 14, 2025
By Duisenali Alimakyn

The play Gauhartas, directed by Kazakhstani theater artist Askhat Maemirov, has been staged over 250 times within a year, marking a record achievement in Kazakhstan’s theater industry.

This widely acclaimed production is an adaptation of a work by esteemed Kazakh writer, Dulat Isabekov. His story depicts the life of a Kazakh family during the Soviet period, shedding light on the struggles of ethnic minorities under an authoritarian regime. In 1975, the Kazakhfilm studio produced a movie based on this work.

With every show selling out, the play has already drawn nearly 75,000 spectators. It has been performed in several major cities across Kazakhstan, including Aktau, Atyrau, Oral, Taldykorgan, and Almaty. Plans are now in place to present the production on an international stage. “In this production, we emphasize the significance of family and cultural values in Kazakh society,” said the director of the musical drama. “We examine the roles of mothers and fathers, questioning their responsibilities and influence. By portraying the life of an ordinary Kazakh family, we aim to reflect deeper human emotions. At its core, the play conveys the importance of safeguarding love and happiness within the home.”

Though Gauhartas was first introduced to readers fifty years ago, its themes remain highly relevant today. The dynamics of family life and the bond between parents and children continue to be timeless subjects in literature and theater, and currently, many young people in Kazakhstan are coming to watch this play.

Image: TCA, Duisenali Alimakyn

This work was written by the recently deceased Kazakh writer, Dulat Isabekov, when he was 25 years old while serving in the military near Moscow. Depicting Kazakh society, including one family’s internal resistance to the system and the impact of Soviet society on people, this work became one of the author’s timeless creations.

The play offers a fresh perspective to Kazakh audiences by addressing the issue of women’s equality. It delves into the fractured relationship between society, a father, and a son, highlighting their inability to connect and understand one another, ultimately leading to tragedy. In essence, this work looks back at the past, aligns with the present, and paves the way for a hopeful future.

14 Mar 2025

Home, Kyrgyzstan Justice, Justice, Kyrgyzstan, Features, Kyrgyzstan Features

English Law in Kyrgyzstan? Bold Move Faces Hurdles in Investment Disputes

March 20, 2025
By Anton Chipegin

Kyrgyzstan’s government is considering adopting elements of English common law to handle investment disputes, but legal experts remain skeptical about its feasibility.

On March 13, Chairman of the Cabinet of Ministers Adylbek Kasymaliev met with the British Ambassador to Kyrgyzstan and a group of international consultants to discuss the potential integration of English legal principles into Kyrgyzstan’s legal framework. The initiative has also received support from President Sadyr Japarov, who, in late 2024, stated at the People’s Kurultai in Bishkek that the adoption of English law principles is essential for attracting foreign investment.

“Citizens and external investors have the opportunity to invest in the construction of large projects. For large investments, first of all, it is necessary to have fair courts,” Japarov stated.

Challenges in Implementing English Law

In an interview with The Times of Central Asia, Shamaral Maichiev, chairman of the International Court of Arbitration in Kyrgyzstan, cautioned that adopting English law would require extensive legal and structural changes.

“A package of legal and regulatory documents duplicating existing commercial law, including court procedures, would need to be developed and adopted. Alternatively, specific sections based on English law principles could be incorporated into current legislation,” Maichiev explained.

Beyond legislative changes, Maichiev noted that judicial retraining would be essential. This includes:

Requalifying legal professionals to apply Common Law principles
Establishing a register of judges specialized in Common Law
Conducting court proceedings in English or other international languages could pose logistical and financial challenges
Hiring foreign judges would add further costs to the national budget.

“Creating a new Common Law Court would be financially burdensome for the country, requiring substantial resources and a long implementation period,” Maichiev emphasized.

Existing Arbitration Mechanisms in Kyrgyzstan

Legal experts argue that Kyrgyzstan already allows the use of Common Law principles in international arbitration courts, making a new Common Law Court unnecessary.

Judges at the Court of Arbitration under the Chamber of Commerce and Industry of Kyrgyzstan contend that investment and commercial disputes are already effectively handled through alternative dispute resolution mechanisms.

“Today, the Kyrgyz Republic is one of the regional leaders in establishing legislative mechanisms for alternative dispute resolution. To enhance Kyrgyzstan’s international reputation and investment appeal, it is proposed that the International Court of Arbitration under the Chamber of Commerce and Industry handle investment and commercial disputes, including those based on Common Law principles, without requiring state budget funds,” Maichiev told TCA.

The judge expressed confidence that the International Court of Arbitration in Kyrgyzstan has the resources to become a leading center for economic dispute resolution in the Eurasian region.

14 Mar 2025

Central Asia, Business & Economy, Kazakhstan, Kazakhstan Business & Economy, Kazakhstan Featurees

National Bank of Kazakhstan to Launch Digital Investment and Gold Coins

March 14, 2025
By Dmitry Pokidaev

The National Bank of Kazakhstan has announced the launch of the Gold Coin project, a digital investment coin, starting March 17. The coin’s value is pegged to 1/20 of a troy ounce of gold, fluctuating based on global gold prices.

According to the National Bank, the Gold Coin project aims to offer Kazakhstani citizens an alternative investment tool, integrating digital assets with modern financial technology. One unit of the Gold Coin corresponds to 1/20 of a troy ounce of gold (with one troy ounce equaling 31.1035 grams). The coin’s value will be determined by the price of gold, as set by the London Bullion Market Association (LBMA), and the official exchange rate of the tenge against the U.S. dollar on the preceding day of a transaction. As of the evening of March 13, the price of gold on the London Stock Exchange stood at $2,924.80 per troy ounce.

“The new investment instrument will be available through the Tabys mobile application of the Astana International Exchange (AIX), part of the Astana International Financial Centre (AIFC). Users will be able to buy, sell, and gift Gold Coins online. Additionally, holders who accumulate 20 units of Gold Coin can exchange them for a physical ÚKI gold investment coin at National Bank branches nationwide. The ÚKI coin will be introduced into circulation on March 17, 2025,” the National Bank stated in a press release.

The ÚKI gold coin was unveiled in February 2025 at the World Money Fair in Berlin, the world’s largest numismatic event. The fair gathers central banks, mints, coin production companies, designers, and numismatic publishers. Kazakhstan’s National Bank presented the ÚKI coin, which is made of 99.99% pure gold (Au 999.9), weighs 31.1 grams, and has a face value of 100 tenge. The coin will also be available for purchase via the Tabys application.

At the end of 2024, the National Bank of Kazakhstan issued commemorative collector coins, including S. Nurmagambetov. 100 JYL from the “Outstanding Events and People” series and Alexander the Great from the “Great Commanders” series. The first coin, honoring Kazakhstan’s first Minister of Defense and national hero Sagadat Nurmagambetov, is made of cupronickel (MN 25), weighs 15 grams, has a face value of 200 tenge, and was minted in a quantity of 5,000. The Alexander the Great coin is made of sterling silver, weighs 31.1 grams, has a face value of 1,000 tenge (approximately $2), and was issued in a limited run of 2,000 copies.

As previously reported by The Times of Central Asia, Kazakhstan began issuing coins with inscriptions in its new Latin-based alphabet in 2019.

14 Mar 2025

Central Asia, Home, Tajikistan Business Economy, Tajikistan, Business & Economy, Tajikistan Home

EBRD and ADB Finance Upgrade of Key Road in Tajikistan

March 14, 2025
By Sergey Kwan

The European Bank for Reconstruction and Development (EBRD) has announced a loan to finance the upgrade and expansion of the Dangara-Guliston road in Tajikistan.

Built in the 1930s as part of a major international highway, this road serves as a crucial link between the north and south of the Khatlon region, an area that produces more than 53% of Tajikistan’s agricultural output and is home to 35% of the country’s population.

Financing and Project Scope

The EBRD’s sovereign loan of up to €38 million will help finance improvements to a 49-kilometer section of the road, including the construction of charging infrastructure for electric vehicles. The Asian Development Bank (ADB) will provide $86.7 million (€83.5 million) in grant financing to support the project.

The upgrades will convert the existing single-lane road into a dual-lane highway, significantly improving transportation efficiency and reducing cargo delivery times across the Khatlon region and beyond. Additionally, the upgraded road will feature:

Improved lighting
Cycle paths
Pavements for pedestrians

Electric Mobility and Sustainability

This will be one of the first roads in Tajikistan equipped with charging stations for electric vehicles (EVs), encouraging wider EV adoption in the country.

The EBRD will also provide a technical cooperation grant to develop a national electric mobility action plan, aimed at stimulating public and private investment in sustainable transportation infrastructure across Tajikistan.

EBRD’s Broader Investment in Tajikistan

To date, the EBRD has invested over €1 billion in Tajikistan through 183 projects, supporting key sectors such as infrastructure, energy, and private enterprise development.

14 Mar 2025

Central Asia, Uzbekistan, Life & Culture, Uzbekistan Home, Uzbekistan Life & Culture

Uzbekistan and Hungary Use Nobel-Winning Discovery to Develop Health Supplements

March 14, 2025
By Sadokat Jalolova

Scientists from Uzbekistan and Hungary are collaborating to develop new health supplements derived from sweet wormwood (Artemisia annua), a plant known for its medicinal properties. The research is being conducted by the Pharmaceutical Institute of Tashkent and Hungary’s Meditop Pharmaceutical Ltd.

The project is based on the groundbreaking work of Chinese scientist Tu Youyou, who won the 2015 Nobel Prize in Physiology or Medicine for discovering artemisinin, a compound extracted from sweet wormwood that effectively treats malaria.

The joint initiative aims to produce antiseptic and anti-inflammatory supplements in various forms, including capsules, ointments, hydrogels, mouthwashes, and ear drops. These products are classified as food supplements rather than medicines. Currently, researchers are testing the active compounds on animals to evaluate their effectiveness.

While still in the early stages of development, with prototypes being tested, mass production is planned to take place in Uzbekistan using Hungarian pharmaceutical expertise. It remains uncertain whether all prototypes will reach large-scale production, but both sides express optimism about the project’s potential.

This collaboration is part of a broader partnership between the two countries. In 2023, Hungarian Foreign Minister Péter Szijjártó and Uzbek Minister of Investment, Industry, and Trade Laziz Kudratov announced plans to establish a special industrial zone in Uzbekistan for Hungarian companies.

Sweet wormwood has been used in traditional medicine for centuries, particularly in Chinese medicine, where it has been employed to treat fever and infections. In recent years, artemisinin has been investigated not only for malaria treatment but also for its potential applications in cancer therapy and respiratory health, including during the COVID-19 pandemic.