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Business

TikTok to Boost Support for Kazakhstani Entrepreneurs

Kazakhstan’s Deputy Prime Minister and Minister of National Economy, Serik Zhumangarin, met with Sergey Sokolov, Director of Government Relations and Corporate Affairs for TikTok in Russia, Eastern Europe, Central Asia, and Mongolia, to discuss the platform’s tools for promoting local businesses. During the meeting, TikTok representatives presented findings from a joint study conducted with the Atameken National Chamber of Entrepreneurs on the platform’s impact on entrepreneurship in Kazakhstan. The survey included over 300 micro and small business owners from 20 regions across the country. According to Raimbek Batalov, Chairman of Atameken, the partnership with TikTok is already producing tangible results. As part of the “One Village, One Product” initiative, entrepreneurs have received training on using digital tools to market their products and grow their sales. “Among companies that post content weekly, one in eight earns more than half of its revenue through the platform. Overall, 63% of businesses report that at least 5% of their annual income is directly tied to TikTok,” Batalov said. In collaboration with the state-backed Damu Fund, plans are underway to expand training programs on TikTok’s digital tools. Batalov noted that the integration of digital solutions remains a key area for the development of small businesses in Kazakhstan. Sergey Sokolov described Kazakhstan as one of the region’s fastest-growing markets and emphasized the platform’s untapped potential in advancing digital entrepreneurship. “We are ready to collaborate with Atameken and state authorities to elevate digital business tools to a new level,” he said. The study highlighted that companies in the creative and service sectors, including hospitality, entertainment, beauty, and wellness, have experienced the strongest results from their TikTok presence. Educational and tourism-related content also shows high growth potential, with Kazakhstani teachers and cultural projects attracting millions of views. Previously, Kazakh officials and TikTok representatives explored opportunities to promote Kazakhstan’s tourism potential to international audiences via the platform.

Business

Open for Business: New Reforms Accelerate Investment in Uzbek Companies

Uzbekistan’s business sector is in a period of rapid transformation. The catalyst for this is the government's newest set of economic reforms, through which it is seeking to attract long-term investment. New legislation, targeted incentives for enterprises, and an influx of international partnerships are changing the way that companies operate and invest. A key part of this transformation is the government’s effort to create a more predictable and transparent regulatory environment. The World Bank has noted that Uzbekistan’s reform strategy is centered on expanding trade integration and accelerating the long-planned privatization of state assets. The country’s priorities include accession to the World Trade Organization, which has brought about legal adjustments designed to align Uzbek standards with global norms. Investor confidence has been encouraged by new policies that now make it easier to live and work in Uzbekistan. A five-year “golden visa” now makes it possible for foreign nationals who invest at least $250,000 to receive residency. This simplifies procedures for those developing long-term projects. Another focus for the government is financial liberalization. The International Monetary Fund recently noted that state ownership of banks is expected to fall to around 40 percent next year, which creates space for potential private lenders and foreign capital. Recent data suggests that these reforms are beginning to bear fruit. In the first quarter of 2025, Uzbekistan attracted about $8.7 billion in new foreign investment, according to figures published by UzDaily, with the total inflow this year projected to reach $42 billion. The Times of Central Asia has reported that over the past eight years, the country has absorbed more than $113 billion in foreign capital. These numbers highlight the nation's growing appeal to international investors. Alongside the surge in foreign activity, the authorities are developing policies to encourage domestic entrepreneurs. There are now more than 370,000 registered small and medium-sized businesses in Uzbekistan, which now receive more support from the government through simpler registration rules and targeted tax incentives. Private industrial parks in Tashkent and Samarkand are driving innovation in the textiles, IT and construction sectors, and creating prospective local jobs. The business community has taken notice of these reforms. At the Tashkent International Investment Forum in June, European delegates described Uzbekistan as a country “undergoing large-scale transformation”, with a growing array of opportunities for international investors. Guests in Tashkent praised efforts to increase transparency in business and cut back on beaurocracy. At the same time, they stressed the need to be consistent in their implementation across regions. Despite tangible progress, challenges remain. Inflation has remained high, and analysts continue to point to structural issues hampering growth. These include an underdeveloped financial system and a large informal economy. Foreign businesses operating in Uzbekistan are also advised to pay close attention to compliance and labor law as the legal environment evolves. Two of the government's priorities stand out in the short term. The first is the privatization of major state assets in the energy, transport and telecommunications industries -- part of the 2025 national economic program...

Business

Kazakhstan and Germany Extend Business Partnership Program Through 2028

Kazakhstan and Germany have signed an agreement to extend their long-running “Partnering in Business with Germany” program until 2028, reinforcing bilateral economic cooperation with a particular focus on small and medium-sized enterprises (SMEs). Jointly implemented by Kazakhstan’s Ministry of National Economy and Germany’s Federal Ministry for Economic Affairs and Energy, the program has been in operation for 15 years. More than 800 Kazakhstani entrepreneurs have participated, gaining hands-on training in Germany, learning best business practices, modernizing their operations, and securing contracts, licenses, and franchise agreements. In 2025, the German side will continue to fully cover costs for participants, including training, insurance, and accommodation. Deputy Minister of National Economy Yerlan Sagnayev emphasized that the program not only fosters professional development among Kazakhstani entrepreneurs but also contributes to deepening long-term economic ties between the two nations. Germany is Kazakhstan’s largest trading partner within the European Union. At the 16th Kazakhstan-German Business Council meeting held in Astana in May, it was revealed that Kazakhstan ranked 43rd among Germany’s global trade partners in 2024 and accounted for 83% of Germany’s trade volume with Central Asia. Energy remains a central pillar of bilateral cooperation. Kazakhstan began exporting crude oil to Germany via the Druzhba pipeline in 2023, with volumes expected to rise to 1.5 million tons in 2025, up from 993,000 tons in 2023.

Business

Women’s Leadership Takes Center Stage at Tashkent Law Spring

A standout panel session on women’s leadership took place during the IV International Legal Forum “Tashkent Law Spring” on May 30 at the InterContinental Tashkent Hotel. Hosted by ACWA Power, a major investor in Uzbekistan’s energy sector with $15 billion in local projects, the session explored practical approaches to empowering women in traditionally male-dominated industries, including law, energy, and public service. A Platform for Legal Reform and Gender Dialogue Now in its fourth year, Tashkent Law Spring has become a key event for legal professionals across Central Asia. The 2025 forum drew over 200 participants, including lawyers, judges, academics, and policy experts, with a focus on strengthening Uzbekistan’s legal landscape. Among the many sessions, the ACWA Power panel on women’s leadership stood out for its cross-sector insights and actionable recommendations. Saudi Vision 2030: Progress in Workforce Gender Inclusion Hager Altwegieri, Board Secretary at ACWA Power and an expert in governance and sustainability, shared Saudi Arabia’s progress under Vision 2030. “In 2016, women’s workforce participation stood at 22.8%. Today, it is at 36%,” she said. “We surpassed our original 30% target and are now aiming for 40% by 2030.” Altwegieri emphasized the importance of setting measurable goals and ensuring institutional accountability. She cited a government-backed childcare support program as an example of how targeted policies can reduce barriers for working mothers. Mentorship and Infrastructure as Enablers Altwegieri also highlighted the value of mentorship and career readiness support for women entering the workforce. “Women often need help with CV writing and interview preparation,” she said. “Mentorship plays a crucial role in this journey.” She underscored the importance of respecting cultural traditions, quoting an Arabic proverb: “A mother is a school. If you prepare her well, you prepare a nation for prosperity.” Digital Safety: A New Front in Gender Equality Kamola Alieva, PhD in Law and a gender equality expert at Tashkent State University of Law, addressed the risks posed by digital tools in professional environments. “Digitalization is changing how we work, but it also exposes women to new forms of harassment,” she warned. Inappropriate messages, digital exclusion, and misuse of personal data are increasingly common threats, especially in male-dominated workplaces. Alieva called for legal frameworks that define digital misconduct and protect employee data with gender-sensitive safeguards. The Investment Case for Inclusion Anar Nurbayeva, Gender Advisor and Principal at the European Bank for Reconstruction and Development (EBRD), discussed the bank’s inclusive investment strategies. “Gender and economic inclusion is one of our top three priorities,” she said, noting EBRD’s collaboration with ACWA Power and Schrodinger College to promote renewable energy careers among women. “It’s about both fair HR policies and building future-ready skills,” she added. Challenges in Intellectual Property for Women Entrepreneurs Madina Tursunova, Chair of the Association of Patent Representatives of Uzbekistan, outlined the hurdles women face in protecting intellectual property (IP). “IP enforcement is costly and complex,” she said, noting a societal bias that discourages women from innovating. Tursunova advocated for more training in business skills, arguing that support must go beyond...

Business

UAE Firm Plans to Build Sugar Factory in Kazakhstan

Al Khaleej Sugar, one of the world's leading sugar producers, intends to build a sugar factory near the city of Konaev, in Kazakhstan’s Almaty Region. The initiative was discussed during a meeting between Almaty Region Akim Marat Sultangaziev and the company’s managing director, Sheikh Jamal Al Gurair. Key topics on the agenda included the selection of a suitable land plot, the organization of sugar beet cultivation, access to water for raw material production, and power supply infrastructure for the future facility. A site near Konaev, just 56 kilometers from Almaty, is currently considered the most promising due to its logistical advantages. “We want to create a completely self-sufficient enterprise using renewable energy sources. This will minimize the impact on the environment,” said Sheikh Jamal Al Gurair. Al Khaleej Sugar currently accounts for up to 3% of global refined sugar output. If the project proceeds, it would mark the UAE-based company’s first sugar production venture in Kazakhstan. Sugar Sector in Kazakhstan Kazakhstan currently has four operational sugar factories: AksuKant in the Taldykorgan district, Koksu Sugar Factory in Almaty region, and the Merken and Taraz factories in Zhambyl region. Of these, three are configured to process sugar beets, while the Taraz facility processes raw cane sugar. The primary beet-growing regions in Kazakhstan are Almaty and Zhambyl. In 2024, Kazakhstan harvested 1.2 million tons of sugar beets, yet only 700,000 tons were processed due to limited production capacity. Last year, Kazakhstan produced 243,000 tons of sugar, less than half of its domestic consumption needs. Despite the local shortfall, a significant share of sugar output is exported, primarily to neighboring Russia. This imbalance has led to recurring supply challenges. In summer 2022, a Russian export ban on sugar triggered a sharp price increase in Kazakhstan. In response, Kazakhstan began imposing its own seasonal ban on sugar exports from June to August to stabilize domestic prices. As previously reported by The Times of Central Asia, the restriction remained in place last year. The prospective Konaev plant, if realized, could significantly enhance Kazakhstan’s processing capacity and reduce its reliance on imported refined sugar, contributing to greater food security and industrial diversification.

Business

Kyrgyzstan Seeks €2.7 Billion from UK for Business Development

Deputy Chairman of the Cabinet of Ministers of Kyrgyzstan Bakyt Torobaev has held a high-level meeting with Shebn Alp, Regional Director of the UK Export Credit Agency (UKEF), seeking €2.7 billion in financial support to boost the country's business sector. The meeting was held in accordance with instructions from Kyrgyz President Sadyr Japarov, who has outlined economic modernization as a government priority. Torobaev emphasized the country’s strategic goals, which include revitalizing the agro-industrial sector, developing critical infrastructure, diversifying export markets, and enhancing Kyrgyzstan’s investment appeal. “The Cabinet of Ministers of Kyrgyzstan is committed to creating added value within the country, promoting environmentally friendly and organic agriculture, modernizing irrigation systems, and transitioning from a raw materials-based to a processing economy,” he stated. British representatives reportedly expressed interest in cooperation in the mining, construction, and infrastructure sectors, all of which are currently experiencing robust growth in Kyrgyzstan. The construction industry, in particular, is seen as a driving force behind the nation’s economic progress, as previously reported by The Times of Central Asia. Authorities are also investing in the mining sector, including recent efforts to rehabilitate rare earth element mines in Chui Oblast. These materials are essential for the production of electric vehicle batteries, positioning Kyrgyzstan as a potential player in the global green energy supply chain.