• KGS/USD = 0.01138 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09305 0.43%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01138 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09305 0.43%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01138 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09305 0.43%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01138 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09305 0.43%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01138 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09305 0.43%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01138 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09305 0.43%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01138 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09305 0.43%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01138 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09305 0.43%
  • UZS/USD = 0.00008 0%

Viewing results 1 - 6 of 14

Kazakhstan to Increase Production of High Added-Value Products

The government of Kazakhstan has identified a list of key projects concerning the manufacture of non-resource products with high added value. The list numbers 17 projects in the metallurgical and chemical industries, oil and gas chemistry, and automobile manufacturing. Each involves advanced processing of raw materials and will contribute to the development of related industries and the economy. At a government meeting on May 28, Kazakhstan's prime minister Olzhas Bektenov commented that "We must produce non-resource goods of high processing, whereby most of the profits will remain in the country and the level of economic diversification will increase.” Commenting on preferences afforded to producers under the proposed new Tax Code, Bektenov stated: “In the draft of the new Tax Code, tax rates will be determined by the complexity of production. If an enterprise produces high value-added products, the tax rates will be lower, and if they produce raw materials, the tax rate will be higher.” This year, as part of the Industrialization Map, Kazakhstan plans to launch 180 projects at a cost of 1.5 trillion tenge, and to create over 18,000 new jobs. The total volume of production will amount to 1.6 trillion tenge, including 600 billion tenge of exports and 1 trillion tenge of import substitution.  

Carlsberg Expands Production in Kazakhstan

Kazakh Invest has announced that Danish company Carlsberg is to open a new factory in Almaty to produce non-alcoholic beverages worth $50 million. In preparation of its launch, Deputy Minister of Foreign Affairs of Kazakhstan, Nazira Nurbayeva, Chairman of Kazakh Invest, Yerzhan Yelekeyev, and First Vice President for Central and Eastern Europe of the Carlsberg Group, Lars Lehmann met on 18 April. During the meeting, Lars Lehmann thanked the Ministry of Foreign Affairs of Kazakhstan for its support at all stages of the project and pledged the company’s commitment to furthering cooperation with Kazakhstan. Outlining the benefits afforded by the initiative, he reported that the new production facility in Almaty will help ensure 100% localization of brewing and non-alcoholic products for the Kazakh market and in addition, create opportunities for export to Uzbekistan, Kyrgyzstan, Tajikistan, and Armenia. Regarding the company’s existing business in Kazakhstan, Lehmann stated, "Over the past years, Carlsberg Kazakhstan LLP has been consistently included in Kazakhstan's Top 50 largest taxpayers. Our regional hub is also located here. Over the past two years, the share of local raw materials used in our products has increased from 30% to 65% and in the future, should rise to 80%." Carlsberg Kazakhstan currently provides jobs for some 500 employees in Almaty and over 2,000, in distribution companies across Kazakhstan.

Tajikistan and Uzbekistan Sign Allied Relations Treaty

On April 18, Shavkat Mirziyoyev, President of Uzbekistan met Emomali Rahmon, President of Tajikistan in Dushanbe, where the two leaders signed a Treaty on Allied Relations between their countries. Referring to Tajikistan as Uzbekistan’s closest, most reliable, and time-tested strategic partner, Mirziyoyev announced, “The fraternal Uzbek and Tajik peoples are inextricably linked by strong bonds of centuries-old friendship. We are brought together by common history, cultural and spiritual values, traditions, and customs.” He went on to emphasize the enormous significance of the Treaty on Allied Relations saying, “With this step, we confirmed our strong mutual commitment to an irreversible course towards deepening the multifaceted Uzbek-Tajik strategic partnership and alliance. Without any exaggeration, this important document will mark a new historical milestone in bilateral relations.” Adding that the Treaty takes Tajik-Uzbek relations to a qualitatively new level, President Rahmon stated, “This document will also become an important factor in strengthening peace and stability in our region – Central Asia” On the eve of Mirziyoyev’s visit, a Tajik-Uzbek business forum resulted in a solid portfolio of new cooperation projects and trade contracts in mechanical engineering, electrical engineering, energy, mining, agricultural, textile and pharmaceuticals industries. During the Tajik-Uzbek talks it was reported that in recent years, bilateral trade turnover has increased 40-fold and the number of joint ventures has grown 15-fold. Tajikistan and Uzbekistan have now raised the bar by setting a target to increase trade turnover to $2 billion by expanding the exchange of supplies and launching cross-border trade zones.

Kazakhstan and Kyrgyzstan Sign Commercial Deals Worth $300 Million

On the side-lines of the Kazakhstan and Kyrgyzstan business forum on April 17 in Astana, businesses signed off commercial deals totalling $300 million. Attended by Deputy Prime Ministers of Kazakhstan and Kyrgyzstan, Serik Zhumangarin and Adylbek Kasymaliev, the forum attracted companies engaged in mechanical engineering, industry, metallurgy, construction, logistics, agriculture, pharmaceuticals, investment, and service industries. According to a report by the Kazakh Ministry of Trade and Integration, lucrative joint projects include the construction of solar power plants, a ferroalloy plant, a distribution centre in Kyrgyzstan, and the exchange of supplies of agricultural and other products. In 2023, trade turnover between Kazakhstan and Kyrgyzstan rose by 26% compared to the previous year, reaching $1.6 billion. Kazakhstan’s exports accounted for $1.1 billion, an increase of 35.8%, and imports stood at $495.2 million, an increase of 9%.

Kazakhstan Seeks Investment from South Korea

Over the past ten years, South Korea's investments in Kazakhstan's economy have exceeded $6.8 billion and several joint Kazakh-Korean projects with investments of about $1 billion are currently under implementation. The potential to increase and diversify bilateral trade and expand investment cooperation was the focus of a meeting on 16 April between Gabidulla Ospankulov, Chairman of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan, Yerzhan Yelekeyev, Chairman of the Management Board of National Company Kazakh Invest, and Joe Tae-Ik, Ambassador of the Republic of Korea to Kazakhstan. During the meeting, Ospankulov spoke of the large number of Korean companies working in Kazakhstan and emphasizing that developing economic and investment relations with South Korea is a priority, pledged comprehensive support to companies implementing projects in the country. Kazakh Invest’s Yelekeyev gave thanks to Korean car brands for their input into the Kazakhstan’s successful development of the domestic automotive industry and reported on the high potential for strengthening partnerships in tourism, energy, and petrochemistry. Looking ahead, he stated, “South Korean entrepreneurs work in an export-oriented economy and create competitive, innovative products. We want to adopt this expertise and technology in developing priority sectors in Kazakhstan. In this regard, we are ready to provide a full range of support services, including an existing package of preferences." In return, Ambassador Joe Tae-Ik confirmed his intention to assist in implementing new joint investment projects.

Henkel to Develop Production in Kazakhstan

Henkel, a leading German chemical and consumer goods company, is to transfer its Central Asian and Caucasus office to Kazakhstan alongside further investment in expanding its construction mix production in the country. The announcement was made at a meeting between Azamat Panbaev, Chairman of Kazakhstan’s Ministry of Industry and Construction, and Mikhail Yershov, CEO of Henkel for the Central Asian and Caucasus regions on 12 April. The company has enjoyed a long allegiance with Kazakhstan, dating back to 2006, and in addition, has operations in Uzbekistan, Tajikistan, Kyrgyzstan, Turkmenistan, Mongolia, Azerbaijan, and Armenia, as well as factories in Kunayev (formerly Kapshagai) in Kazakhstan and Tbilisi in Georgia. The move, spurred by the complexity of logistical chains, aims to optimize Henkel’s production in Eurasia and localize production to be closer to the consumer.

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