• KGS/USD = 0.01143 -0%
  • KZT/USD = 0.00192 -0%
  • TJS/USD = 0.10820 0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 -0%
  • KZT/USD = 0.00192 -0%
  • TJS/USD = 0.10820 0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 -0%
  • KZT/USD = 0.00192 -0%
  • TJS/USD = 0.10820 0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 -0%
  • KZT/USD = 0.00192 -0%
  • TJS/USD = 0.10820 0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 -0%
  • KZT/USD = 0.00192 -0%
  • TJS/USD = 0.10820 0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 -0%
  • KZT/USD = 0.00192 -0%
  • TJS/USD = 0.10820 0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 -0%
  • KZT/USD = 0.00192 -0%
  • TJS/USD = 0.10820 0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 -0%
  • KZT/USD = 0.00192 -0%
  • TJS/USD = 0.10820 0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 0%
13 December 2025

Uzbekistan Widens its Doors to Foreign Tourists

In an announcement on the media portal Novosti Uzbekistana, Nurbek Yakubov, a senior expert at the Institute of Macroeconomic and Regional Studies of Uzbekistan, revealed plans to boost the country’s tourist industry.

Boasting a unique and exotic cultural heritage, as well as stunning natural landscapes rich in archaeological sites and monuments, Uzbekistan’s inflow of foreign tourists has increased almost 2.5-fold, to 6.6 million over the past six years.

As a result, tourism has become one of the key sources of stable economic growth in the country. In 2017, revenue from related services amounted to $531 million, and in 2023, quadrupled to $2.143 billion.

The industry now aims to further increase its volume of foreign tourists to 15 million, in addition to increasing that of local tourists to 25 million, and pilgrims to 3 million by 2030.

According to Yakubov, Uzbekistan is on course to double the availability of hotel beds, increase the number of tourist mahallas (local communities equipped to receive tourists) to 175, and has set a goal to increase the annual export of tourism services to $5 billion through attracting private investment.

Citizens from 91 countries can currently visit Uzbekistan without a visa.

Tajikistan and EU Enter Third Round of Negotiations on Partnership and Cooperation

On April 8 and 9, Luc Devigne, Deputy Managing Director for Europe and Central Asia at the European External Action Service, and Ismatullo Nasredin, First Deputy Minister of Foreign Affairs of Tajikistan convened in Dushanbe for a third round of negotiations on a new comprehensive framework for strengthening their bilateral relations.

According to the Delegation of the European Union to Tajikistan, the negotiations for an Enhanced Partnership and Cooperation Agreement (EPCA), launched in February 2023, represent an important milestone in the EU’s relations with Tajikistan. In line with the EU-Central Asia Strategy, it aims to strengthen cooperation regarding political relations, trade, key economic sectors, as well as the rule of law and human rights.

The EU Delegation reported that substantial progress had been made during the third round of negotiations between European Union and Tajikistan, and in the future, the EU-Tajikistan Partnership and Cooperation Agreement, in place since 2010, will be known as the EPCA.

Five Kazakhstani Banks Improve Their Positions in S&P Rating

S&P Global Ratings, one of the “big three” global ratings agencies, has revised its outlook and upgraded the ratings for five banks in Kazakhstan — Halyk Bank, Kaspi Bank, Bank CenterCredit, ForteBank and Nurbank.

S&P experts pointed out that in recent years Kazakhstan’s banking sector has demonstrated increased resilience to macroeconomic risks, especially against the backdrop of increasing geopolitical instability in the region. Asset quality and the financial performance of banks have significantly exceeded analysts’ expectations. As a result, S&P improved its economic risk assessment and revised the industry risk trend to “Positive.” For example, as of the beginning of 2024, the share of overdue loans (more than 90 days overdue) was only 3% of the total portfolio — significantly lower than in previous years.

Comparing the banking sector with the segment of microfinance institutions (MFIs), it is clear that MFIs are in a more attractive shape. The share of delinquencies in MFIs is growing, which indicates an inherently higher risk profile in their loan portfolios. It’s possible that the adoption by Kazakh parliament of a law on risk minimization in lending — and protecting borrowers’ rights — could remedy the situation.

According to the National Bank of Kazakhstan, the level of loan application approvals remains moderate, indicating a careful approach to issuing loans and control over their repayment by banking structures. Also complicating the retail and corporate lending landscape is the high key rate in Kazakhstan, which was cut to 14.75% in February from 15.25%.

Government and Communities are Tackling Kazakhstan’s Flood Crisis Together: An Interview with the Deputy Foreign Minister of Kazakhstan, Roman Vassilenko

Can you provide an overview of the current flood situation from the perspective of the affected areas and the population?

 

The current flood situation is serious, though it remains manageable. This year’s floods have exceeded those of 2012 and 2017, which were previously the most significant in the past three decades, making this potentially the most severe disaster in over 80 years.

A combination of factors has contributed to this crisis. A late and rainy autumn, followed by a sharp temperature drop in December, resulted in soil freezing up to two meters deep. This was followed by heavy snowfall throughout the winter and a rapid warming and snowmelt in spring, causing significant water flow, mostly originating from the steppes, not from the rivers.

Currently, flood relief operations are in progress across eight regions of the country. To date, over 75,000 people, including 17,000 children, have been evacuated. Additionally, more than 60,000 livestock have been relocated for their safety.

Kazakhstan’s President, Kassym-Jomart Tokayev, central and local governments, as well as volunteers, are collaborating effectively. Around-the-clock efforts are being made by approximately 17,000 emergency service workers, National Guard personnel, police and the military to safeguard cities and villages, supported by more than 25,000 volunteers. The operations are utilizing over 80 boats, as well as 15 aircraft and helicopters.

The President is personally overseeing all operations, ensuring a coordinated and effective response to this challenging situation.

 

Has the government identified the peak of this crisis? If so, how is the situation being managed now?

 

Regions across half the country have already been impacted by the flood crisis, or are expected to be affected within the next two to three weeks. The situation is expected to remain serious in the western and northern parts of the country, as well as in the far east, where snow-melt has just begun.

We are not yet clear of the water – both metaphorically and literally. Fifteen percent of the country, and up to 40 percent in the northern regions, is still covered by snow. As a result, efforts to combat these natural challenges are ongoing.

The national headquarters, under the leadership of the Prime Minister, is actively coordinating flood control measures and managing the aftermath of the flooding. The Prime Minister and their deputies, instructed by the President, are working directly in the regions most affected by the floods, ensuring that all necessary steps are taken. Overall, the state is maintaining control over the situation.

 

Can you tell us more about the nature of the assistance being provided?

 

Support is being provided to everyone affected by the floods and adequate compensation will be provided to these people. The government is ensuring that those impacted have access to all necessary resources, including the operation of temporary accommodation centers.

Following the President’s instructions, the government has released state material reserve to aid residents. Additionally, significant assistance is coming from large businesses and citizens of Kazakhstan, exemplified by the collection of over 380 tons of humanitarian aid by volunteer headquarters, of which more than 280 tons have already been delivered to affected regions.

This humanitarian aid is being efficiently distributed via railways, aviation, and road transport.

To address property and personal losses, the government is developing an effective compensation mechanism, ensuring amounts are proportional to the damages incurred.

There is a strong sense of unity and cohesion within society, which is being diligently maintained. This crisis has highlighted remarkable examples of dedication, self-sacrifice, hard work, and humanity at its best. People are coming together, supporting each other through monetary donations, food, and clothing. Efforts are also being made to rescue and save domestic animals.

Overall, the response embodies a powerful collective effort, demonstrating the community’s resilience and compassion in times of adversity.

 

Is Kazakhstan seeking or receiving any international assistance to overcome this crisis?

 

Kazakhstan is effectively handling the crisis independently, and has not actively sought international assistance. The country’s emergency services, government bodies, and local communities are collaboratively addressing the challenges posed by the flooding.

We are grateful, however, for the support provided by our brotherly neighbor, the Kyrgyz Republic, as well as offers of assistance from countries like Türkiye. The 300 tons of humanitarian aid, organized and delivered on behalf of Kyrgyz President Sadyr Japarov, include sunflower oil, sugar, rice, pasta, mattresses, clothes, and tents.

During a phone call on April 6, President Tokayev expressed gratitude to President Japarov and the Kyrgyz citizens for their support. He emphasized this act is further proof of the genuine friendship, solidarity, and strong allied relations between the two countries.

Azerbaijan and the Netherlands have also expressed their solidarity and support to the people of Kazakhstan. While we are managing the situation on our own, the moral support we have received is both sufficient and deeply appreciated.

 

Considering the floods, are there concerns regarding waterborne diseases or other health issues? What measures are being taken to prevent a healthcare crisis in the aftermath?

 

The potential health risks associated with the floods, particularly concerning waterborne diseases, are being vigilantly monitored. In response to the flood situation, the Sanitary-Epidemiological Service has significantly intensified its efforts. Since the onset of the floods, more than 4,000 samples of drinking water have been collected and subjected to thorough testing, assessing both sanitary-chemical and microbiological parameters.

The results from the laboratory monitoring of the water quality and safety have so far indicated that there are no imminent risks of waterborne infectious disease outbreaks. Kazakhstan is maintaining a stable epidemiological situation, with no significant increases in infections typically associated with flood conditions.

 

What long-term strategies is the government considering to prevent similar disasters in the future?

 

To enhance the protection of settlements from waterlogging and flooding, the government is continuously implementing comprehensive measures to minimize flood threats. These efforts have successfully alleviated the threat for 228 settlements and reduced risks for 634 settlements, which include over 128,000 houses and more than half a million residents.

A thorough analysis is being conducted to develop and refine flood prevention strategies and community protection measures. This includes exploring new approaches to flood risk management. A key part of this initiative is the development of a flood prevention plan for the years 2025-2029. Additionally, there will be a revision of the provisions in the Concept for Developing a Water Resources Management System for the period 2024-2030.

The government is also working on creating an advanced information system. It is intended to model various emergency situations, including floods and fires, enabling accurate forecasting, and providing recommendations and actionable steps for response.

Furthermore, it is necessary to organize continuous training and equipping of our emergency services, ensuring they are ready to respond effectively to future flood events.

Infrastructure development is another critical aspect. We’re working to strengthen and expand our network of dams, levees, and waterways to control and manage floodwaters more effectively. This includes both new constructions and the upgrading of existing structures to withstand severe weather conditions.

In fact, as a part of long-term measures to ensure water quality and manage resources effectively, plans are underway to construct 20 new water reservoirs and repair 15 existing ones.

Lastly, we’re collaborating with international experts and organizations to learn from global best practices in flood management. This collaborative approach ensures we are implementing the most effective and innovative strategies to protect our citizens and their livelihoods from the impact of seasonal floods.

There is a strong emphasis on learning from this and previous experiences. This involves addressing shortcomings in planning for such disasters, bridging the gap in skilled water management personnel, and correcting any neglectful attitudes towards nature. These long-term strategies are integral to enhancing resilience and preparedness for similar disasters in the future.

Global Industry Experts to Meet in Almaty as Kazakhstan Ponders Nuclear Power

ALMATY, Kazakhstan – A group that represents the global nuclear industry will meet next week in Kazakhstan, which plans to hold a referendum this year to decide whether to build a nuclear power plant in order to ease power shortages.

The London-based World Nuclear Association is holding the “working group” meetings in Almaty on April 15-16 in collaboration with the Energy Ministry of Kazakhstan, the world´s biggest uranium producer.

Delegates at the Almaty meetings “will hear about and exchange views on the specific requirements of Kazakhstan for the deployment of nuclear power, the global landscape, and opportunities for the country in driving forward its nuclear power plans,” the association said.

The periodic event, called World Nuclear Spotlight, gathers policymakers, stakeholders and industry leaders. The goal is to share best practices, conduct analysis and coordinate on economic, safety and environmental issues.

A nuclear power plant in Kazakhstan would be the first since the 1990s, when the Soviet BN-350 reactor in the Caspian city of Aktau was decommissioned.

Kazakhstan, however, faces conflicting energy and environmental pressures as it considers the plan to build a civilian nuclear plant. There are also geopolitical complications because of the potential involvement in the project of Russia and other foreign actors.

Many people in Kazakhstan are uneasy about nuclear power, recalling the trauma caused by devastating contamination over decades at the Soviet nuclear testing site at Semipalatinsk.

Lukoil to Invest $200 Million in Kazakhstani Oil & Gas Project

The Kalamkas Sea-Khazar project is expected to attract around $6.5 billion in total investment, and will be one of the first in Kazakhstan where oil production will be carried out from offshore platforms.

In financial statements from Kazakh state energy company, KazMunayGas (KMG), it was stated that Russia’s Lukoil has purchased a stake in the Kalamkas Sea oil & gas project in for $200 million. That amount was enough to buy a 50% stake in Kalamkas-Khazar Operating Co., which is engaged in hydrocarbon production at the subsoil areas of Kalamkas Sea, Khazar and Auezov.

Furthermore, according to the terms of the agreement, Lukoil can pay another $100 million to increase its stake if it fulfills certain conditions. KMG made a solid profit on the deal, recognizing the additional cash from the sale as a financial asset, adding $29 million to their reserves. Lukoil has previously cooperated in similar projects in the Russian sector of the Caspian Sea, and has now become a strategic partners of KMG on the Kazakhstani side of the sea’s border. KMG deputy chairman, Kuanysh Kudaibergenov explained that combining the Kalamkas Sea and Khazar projects into one subsoil use contract was a logical step. The fields were abandoned because they were not economically viable, but now they are back on the list for development thanks to a new approach and Russian investment.