NUR-SULTAN (TCA) — Investment agreements totaling around $700 million were reached during negotiations on the sidelines of the Kazakhstan-German Business Forum on October 7 in Berlin, Kazakh Invest national investment promotion company reported.

It is planned that documents on projects implementation will be signed in December this year within the framework of an official visit of the President of Kazakhstan Kassym-Jomart Tokayev to Germany.

Over 200 business community representatives from both countries participated in the Forum.

The Kazakhstan delegation, which included representatives of government agencies, national companies and business community, was headed by Roman Sklyar, the Deputy Prime Minister of Kazakhstan.

The Forum has become a practical platform for enhancing trade, economic and investment cooperation, giving impetus to the development of partnerships in such popular areas as IoT (Internet of Things), logistics, the energy sector, agro-industrial sector, geological exploration, digitalization, and urban infrastructure.

“In order to move away from the raw material vector of economic development, Kazakhstan has begun to modernize and industrialize the domestic economy. The foundation of the new policy is the creation of a base of industrial-innovative and green economy. In this context, the goal for Kazakhstan businessmen should be to attract companies from Germany to cooperate as leaders in the fields of new technologies and innovations. Particularly relevant is the development of new industries which are to be created using digital technologies as well as the introduction of elements of Industry 4.0,” said Deputy Prime Minister Sklyar.

Today, Germany is one of the leading foreign economic partners of Kazakhstan. Over the past 14 years, German companies have invested about $5 billion in Kazakhstan. According to German statistics, bilateral trade turnover reached a historic high of € 5.1 billion at year-end 2018.

“Today, Kazakhstan has new opportunities and potential for profitable business. Growth forecasts for Kazakhstan are impressive. According to the EBRD forecast, GDP in 2019 can grow by 3.5%. Forecasts for 2020 also indicate that Kazakhstan is the growth engine in the Eurasian Economic Union. We are very pleased that the positive development also had a beneficial effect on the German-Kazakh economic relations: in the first half of the year we exchanged goods for € 2.7 billion. Kazakhstan still accounts for more than 80% of Germany’s trade with the Central Asian region,” said Manfred Grundke, member of the board of the Eastern Committee of the German Economy, General Partner of Knauf.

Additionally, together with the Eastern Committee of the German Economy, a draft Road Map for Trade and Economic Cooperation was developed with a List of Investment Projects to be signed during the Kazakh president’s visit to Germany.

The forum participants noted that Kazakhstan can become a conductor of the economic interests of European countries in the Central Asian region.

TASHKENT (TCA) — Uzbekistan President Shavkat Mirziyoyev has ordered to revise the legislation and scrap unnecessary restrictions restraining the country’s stock market from development, Xinhua news agency reported with reference to the president’s press service.

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BISHKEK (TCA) — The United States has blacklisted 28 Chinese organizations for their alleged involvement in “human rights violations and abuses” against Uyghurs and other mostly Muslim ethnic groups in China’s far western region of Xinjiang, RFE/RL reports.

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DUSHANBE (TCA) — The Asian Development Bank’s (ADB) updated indicative financial assistance for Tajikistan from 2020–2022 is planned at $404 million that will help address the country’s challenges and emerging needs. The final amount will depend on the availability of ADB funds and project readiness, along with possible partnerships and co-financing from other multilateral and bilateral institutions, ADB said on October 8.

“Our 3-year plan is consistent with the current ADB country partnership strategy with Tajikistan and the national development priorities,” said ADB Country Director for Tajikistan Mr. Pradeep Srivastava. “In addition to the public sector projects, ADB will also explore private sector investments in agribusiness, finance, and other sectors.”

The plan includes projects to enhance labor skills, further develop the energy sector including supporting sector reforms and improving infrastructure, promote financial sector development, as well as improve water resource management. ADB also plans to support projects focused on tourism development, the rehabilitation of key road corridors, urban infrastructure development, increased disaster resilience, and investment climate reforms.

ADB’s first assistance to Tajikistan was in 1998 to support post-conflict reconstruction. Since then, ADB has mobilized over $1.8 billion for the country, including more than $1.1 billion in grants. The assistance has helped improve the country’s transport and energy infrastructure, support social development, expand agricultural production, and strengthen regional cooperation and trade.

NUR-SULTAN (TCA) — The city administration of Kazakhstan’s capital Nur-Sultan will purchase 100 new electric buses jointly developed by Chinese and Kazakh vehicle makers, Xinhua reported with reference to local media.

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BISHKEK (TCA) — The three-day conference on Digital Transformation in Central Asia concluded on October 6 in Naryn, Kyrgyzstan with some broad ranging recommendations. Organised by the University of Central Asia, State Committee for Information Technology and Communications, and the High Technology Park of the Kyrgyz Republic, with input from business experts, academics, technology professionals, and government officials, the conference identified technological trends facing Central Asia and recommended practical strategies. It is expected that the conference recommendations will underpin social and economic development strategies for the country and the region.

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