Page 914 – The Times Of Central Asia

29 Dec 2023

Kazakhstan, Kazakhstan Business & Economy, Kazakhstan Featurees

Charting the Digital Future: Tokayev’s Billion-Dollar Vision

June 28, 2024
By Times of Central Asia

Kazakhstan, a nation rich in natural resources, is charting an ambitious course towards becoming a powerhouse in the Information Technology (IT) sector. The country’s President, Kassym-Jomart Tokayev, has recently announced plans to significantly increase investments in IT services, aiming to reach a staggering $1 billion by 2026. This strategic move underscores Kazakhstan’s commitment to leveraging technology as a key driver of economic growth and forms part of a broader strategy to diversify its economy away from traditional industries like oil and gas.

Investing in Digital Future

In a further push towards digitization and diversification, President Tokayev has announced an investment package worth $20 billion until 2025. This extensive funding is aimed at enhancing the diversification of the economy, with a significant portion allocated towards advancements in the IT sector.

To this end, a National Digital Investment Platform has been launched in Kazakhstan. This joint initiative between Kazakhstan, the Eurasian Development Bank, and National Information Technologies JSC2 aims to bolster the digital infrastructure and create a conducive environment for tech innovation and development.

Collaboration with Global Tech Giants

Recognizing the potential of Kazakhstan as a burgeoning hub for digital innovation, several global tech giants have committed to investing in the country in 2023.

Microsoft is working to position Kazakhstan as a center for digital innovation, while Amazon Web Services has entered into a collaboration to further integrate Kazakhstan’s QazTech platform. These partnerships are expected to bring valuable expertise and technological resources to Kazakhstan’s IT sector.

Furthermore, Elon Musk’s SpaceX company and its satellite-based internet service, Starlink, have undertaken significant investments in Kazakhstan. With total project investments estimated at around $10 billion, this collaboration represents a significant boost to Kazakhstan’s burgeoning IT sector.

General Electric, a multinational conglomerate, is also playing a role in Kazakhstan’s digital transformation, with plans to localize the production of medical equipment in the country.

Encouraging Domestic Investments

In addition to attracting foreign investments, President Tokayev has called for Kazakh elites to invest domestically, arguing that such investment serves national interests.

Kazakhstan’s active role within the United Nations General Assembly has been highlighted by President Tokayev. USAID Administrator Samantha Power announced additional investments in Central Asia at the C5+1 Regional Connectivity Ministerial held in Uzbekistan. While not explicitly stated, some of these investments might be directed towards IT-related projects in Kazakhstan.

All these initiatives underscore Kazakhstan’s ambitious vision for its IT sector, demonstrating the country’s commitment to leveraging technology as a key driver of economic growth. As Kazakhstan continues to attract both domestic and international investments, it is set to emerge as a significant player in the global IT landscape.

29 Dec 2023

Life & Culture, Local Politics, Kazakhstan, Kazakhstan Featurees

Kazakhstan Aligns with UN Practice, Lifts Ban on Taliban

June 28, 2024
By Times of Central Asia

Kazakhstan, located 1,566 km from the Afghanistan border, has announced the removal of the Taliban from its list of proscribed organizations. Aibek Smadiyarov, Spokesperson for the Kazakh Foreign Ministry, declared this policy shift, signifying a significant change in Kazakhstan’s approach towards the Taliban.

Smadiyarov stated that this decision aligns with Kazakhstan’s regular update of its national list of terrorist organizations, ensuring consistency with international standards and practices. The United Nations (UN) does not include the Taliban in the list of organizations recognized as terrorist by the UN Security Council. “These resolutions are binding, and we adhere to them,” affirmed Smadiyarov, underscoring Kazakhstan’s commitment to follow international norms set by the UN.

Originating in 1986-1987, the Taliban – a group labeled as a terrorist organization by numerous countries worldwide – ruled Afghanistan from 1996 to 2001 and returned to power in 2021 following the withdrawal of U.S. troops. The group is now striving to establish diplomatic relationships with various countries, including Kazakhstan.

European countries have varied responses towards the Taliban. While no European nation has officially recognized the Taliban government, some degree of interaction has been initiated due to humanitarian and regional security concerns. For instance, the European Union has engaged in dialogue with the Taliban to address immediate humanitarian issues and evacuation efforts. Similarly, countries like Germany and Norway have been part of diplomatic negotiations with the Taliban, each guided by their respective foreign policies and national security considerations.

The United States has also begun engaging with the Taliban albeit in a complex manner. Despite the Doha Agreement leading to the withdrawal of U.S. forces from Afghanistan and outlining commitments from both parties, it did not equate to formal recognition of the Taliban government. The U.S.’s approach, termed ‘pragmatic engagement’, emphasizes that Afghanistan’s future hinges on mutual engagement between the Taliban and the international community.

However, there remains global apprehension about the Taliban’s policies, particularly concerning women’s rights and education. The Taliban has been widely criticized for its harsh treatment of women and girls, including banning girls from receiving secondary education. Many international entities continue to condemn the Taliban’s actions and demand an end to human rights abuses.

Kazakhstan, being a secular nation, is naturally concerned about the oppressive ideology of the Taliban, especially its potential ramifications on women. The recent decision to remove the Taliban from its list of banned organizations highlights the complex geopolitical challenges Kazakhstan faces. It also demonstrates Kazakhstan’s commitment to aligning with the United Nations charter and the positions of its respective organs.

29 Dec 2023

Kazakhstan, Kazakhstan Business & Economy, Kazakhstan Featurees

Kazakhstan’s GDP Poised for a 36.8% Boost by 2028

June 28, 2024
By Times of Central Asia

Kazakhstan, the largest landlocked country in the world, has emerged as a regional economic powerhouse in Central Asia, according to the International Monetary Fund’s (IMF) World Economic Outlook. The report anticipates that by 2028, Kazakhstan’s GDP will surge to $354.7 billion, marking an impressive growth of 36.8%, or a rise of $95.4 billion, compared to its position in 2023.

This projection underscores the resilient performance of Kazakhstan’s economy, which has been steadily improving over the years. As of 2023, the country’s real GDP growth was reported at an annual rate of 4.6%, with total GDP standing at $259.29 billion. Moreover, despite global economic challenges, Kazakhstan’s economy grew by 5.1% in the first half of 2023, bolstered by robust exports and fiscal stimulus.

However, the IMF cautions that the economic growth is expected to moderate to 3.1 percent in 2024 due to an uncertain economic environment. Despite this prediction, the resilience showcased by Kazakhstan’s economy in the face of global disruptions suggests a strong capacity to navigate through potential economic hurdles.

The country’s economic success can be attributed to several factors. Primarily, Kazakhstan has effectively utilized its abundant natural resources, including significant oil reserves, to fuel its economic growth. Furthermore, the government’s commitment to implementing progressive economic policies and fostering a conducive environment for foreign investment has also significantly contributed to the country’s robust GDP growth. On December 4, President Tokayev signed a decree with measures to attract investment into Kazakhstan’s economy and accelerate economic growth. Tokayev’s agenda of creating a “Just and Fair” state has involved tackling corruption and stabilizing the country through sweeping democratic reforms.

Looking ahead, the predicted growth of Kazakhstan’s GDP to $354.7 billion by 2028 presents an optimistic outlook for the nation and the region. This projection underlines the potential of Kazakhstan’s economy and reaffirms its role as a key player in the economic landscape of Central Asia and the Commonwealth of Independent States.

While the journey towards this ambitious goal will undoubtedly present challenges, the progress made by Kazakhstan thus far provides a solid foundation for continued economic growth and prosperity.

29 Dec 2023

Environment, Tajikistan, Tajikistan Features, Business & Economy, Tajikistan Environment, Features

Tajikistan to Achieve Energy Independence and Become Green Country

June 27, 2024
By Times of Central Asia

In 2023, Tajikistan’s GDP increased by 8.3% compared to the previous year, and over the past seven years the country’s GDP has grown 1.5-fold while the national economy has developed at an average pace of 7.5%, the President of Tajikistan, Emomali Rahmon stated addressing parliament on December 28^th.

The President said that prioritizing the prevention of potential risks to the national economy, making efficient use of available resources, industrialization and creating jobs have been the main priorities of the government in recent years.

Among Tajikistan’s main concerns, the President said, are the establishment of a “green economy,” accelerating the economy’s digitization, developing human resources, raising the competitiveness of domestically produced goods, bolstering exports, and enhancing the standards of social services. Rahmon said that given the abundance of hydropower resources in Tajikistan, the high production capacity of “green energy” and its export, the Government is making confident steps towards achieving its strategic goal of energy independence.

In 2023, Tajikistan’s energy capacity exceeded 6,000 megawatts, and electricity production amounted 22 billion kilowatt-hours, which is 4.8 billion kilowatt-hours or 28% more than in 2017.

Rahmon said that Tajikistan will take urgent measures over the next seven years to increase energy exports up to 10 billion kilowatt-hours taking into account the implementation of CAЅA-1000 power transmission line project and re-connection to the Central Asia energy system. The country will also construct power plants using renewable energy sources and increase the “green energy” production capacity up to 1,000 megawatts by 2030.

With the implementation of these measures, the President said, by 2032 electricity production in the country will be entirely from renewable sources, that is, 100% will be provided by “green energy, and Tajikistan will truly become a green country,” President Rahmon said.

29 Dec 2023

Kazakhstan, Business & Economy, Kazakhstan Business & Economy

Kazakhstan Remains Regional Leader in Attracting Foreign Investment, Says PM

June 27, 2024
By Times of Central Asia

Despite the current global challenges, Kazakhstan remains attractive to foreign investors and is the leader in gross inflow of foreign direct investment in the Central Asian region. Last year, FDI in Kazakhstan grew by 18% and reached $28 billion – a record high for Kazakhstan over the past decade, Prime Minister Alikhan Smailov said in an interview with the 24KZ TV channel.

In his words, $13.3 billion was attracted into the country’s economy in the first half of this year, and about $27 billion is expected by the end of the year. Smailov said this was largely possible thanks to the diplomacy of Kazakhstan’s President Tokayev, who, in the face of complex geopolitical tensions, is consistently strengthening relations with a wide range of influential players including China, Europe, Russia, the U.S., Turkey, and the Arab world.

The Prime Minister also spoke about measures the Government will take to double economic growth in the medium term. “The Government has been given a big task to double the national economy by 2029. In this regard, we will continue to work to stimulate economic activity in the country. We will further reduce inflation and ensure macroeconomic stability,” Smailov said.

The Government also has designs on further improving the investment climate. “Every year, we plan to attract at least $25 billion of foreign direct investment. In the future, a nationwide pool of investment projects will be implemented. Thanks to this, more than 160,000 new jobs will be created,” said the Prime Minister. “All this will allow us to ensure economic growth in the medium term at a level of at least 6%. In general, the order of the Head of State to increase the volume of the national economy to $450 billion will be fulfilled,” Smailov concluded.

29 Dec 2023

Kyrgyzstan Life & Culture, Life & Culture, Kyrgyzstan

“Walking the Silk Road” Chinese Cultural Exhibition Held in Bishkek

October 8, 2024
By Times of Central Asia

A recent exhibition in Bishkek, titled “Walking the Silk Road, Allowing Cultures to Integrate,” centered on the Belt and Road Initiative (BRI) and showcased Chinese culture.

Kyrgyz Deputy Prime Minister Edil Baisalov, Charge d’Affaires of the Chinese Embassy in Kyrgyzstan Li Baojie, representatives from educational institutions of both Kyrgyzstan and China, and business delegates attended the event, as reported by Xinhua.

Deputy Prime Minister Baisalov emphasized the transformative impact of the BRI on the region, including Kyrgyzstan, stating, “It has actually had a huge impact on the political and economic situation around the world.” Charge d’Affaires Li highlighted over a decade of fruitful cooperation between Kyrgyzstan and China within the BRI framework.

Li emphasized the importance of cultural interaction and exchange within the initiative, noting that exhibitions like this provide opportunities for the Kyrgyz people to gain a deeper insight into Chinese traditional culture and customs, fostering stronger mutual understanding.

The exhibition, organized by the Kaifeng Management Committee of the Pilot Free Trade Zone of China (Henan) and the Kyrgyzstan-China Friendship Association, showcased stone carving reflecting the Spring and Autumn period, wood carving themed on “New Year’s Pictures,” and intricate paper-cutting artistry.