Foreign Investment - The Times Of Central Asia

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Employment Foreign Investment Agricultural produce

Turkish Investment in Greenhouses in Kazakhstan

On July 2, Chairman of the Board of Kazakh Invest Yerzhan Yelekeyev, met Abbas Sahin, Vice-President of the Turkish group Alarko, to discuss the construction of a greenhouse complex in Shymkent in South Kazakhstan. As reported by Kazakh Invest, Alarko signed a contract with the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan, to invest $150 million in the country’s agro-industrial sector for the first stage of a project comprising the construction of greenhouses, spanning 200 hectares, and creating 1,750 jobs. Preparations by the Turkish company for construction are now underway, with completion scheduled for 2026. Once in operation, the greenhouses aim to produce up to 50,000 tons of tomatoes per year. “Our company has operated in your country for the last 32 years,” said Abbas Sahin. “Given the large land area and available export markets, Kazakhstan has everything necessary to develop the agro-industrial sector. We see the amount of work that has been done in creating the excellent investor protection mechanisms that are now available to investors. We trust the country and have already invested approximately $700 million into projects implemented in Kazakhstan.” In response, Yelekeyev thanked the Turkish investor for contributing to the development of Kazakhstan’s economy and announced, “Turkey is an important partner of Kazakhstan, having implemented more than 70 projects worth $2.8 billion over the years of independence. We highly appreciate that Turkish companies continue to trust Kazakhstan and actively support measures to implement their projects successfully.”

Foreign Investment Hydropower business and economy

Construction Starts on Kyrgyzstan’s Latest Hydropower Plant

On June 29, Chairman of the Cabinet of Ministers of the Kyrgyz Republic, Akylbek Japarov, attended the opening ceremony of the construction of a small hydroelectric power plant at the Orto-Tokoy reservoir in the Issyk-Kul region. Constructed by the China National Machinery Industry Corporation, the new plant will have a capacity of 21 MW and provide electricity to more than 14 thousand consumers of the city of Balykchy. In his address at the launch, the president referencing the recent launch of the Bala-Saruu hydroelectric power plant and the imminent construction of a hydro power plant on the Papan reservoir, announced: “We are taking confident steps towards energy independence. The national project of Kambarata HPP-1 is gaining momentum, with a committee of representatives of international organizations and financial institutions created [for its construction]. The implementation of these projects will provide an opportunity for Kyrgyzstan to become a major hydropower nation.”

Foreign Investment business and economy US aid to education

Largest Makerspace Opens in Kyrgyzstan with U.S. Support

The Makerspace Learning and Design Centre, part-funded by the U.S. government, opened at the American University of Central Asia (AUCA) in Bishkek on June 24. As reported by the U.S. Embassy in Kyrgyzstan, the U.S. Agency for International Development’s (USAID) American Schools and Hospitals Abroad initiative, Bard College, and American University of Central Asia funded the centre’s construction. The Makerspace is a creative space equipped with high-tech equipment, including 3D printers, laser cutters, robotics kits, and sewing equipment. Open to AUCA students as well as scientists, engineers, entrepreneurs, and developers, the centre will provide facilities for users to network, learn, exchange ideas, create prototypes, and attract investors. In his speech at the opening ceremony, Akylbek Japarov, Chairman of the Cabinet of Ministers of the Kyrgyz Republic, announced: “Makerspace is a place where technologies become accessible to everyone, and innovative projects become reality. There are many creative and progressive people in Kyrgyzstan who urgently need opportunities offered by the space to realize their potential and benefit society.” USAID/Kyrgyz Republic Mission Director Kaya Adams praised the new facility saying, “We are especially proud of our partnership with the American University of Central Asia. This new building will strengthen AUCA’s international, diverse learning community and multidisciplinary learning approach. It will bring together creative thinkers of differing nationalities, ethnicities, gender, and professional backgrounds, including people with disabilities, to forge innovative solutions.”

China Industry Employment Foreign Investment

New Industrial Zone Launched with Chinese Investment in Uzbekistan

On June 27, President of Uzbekistan Shavkat Mirziyoyev launched the construction of the first project in the Technopark special industrial zone in the Zaamin district of Jizzakh. Chinese investors have allocated a total $1.2 billion towards the realization of 30 projects in the new Technopark. Located on 400 hectares of land, the Technopark will comprise facilities to produce goods with high added value and import-substituting products to meet demands from foreign markets, with particular focus on electrical and mechanical engineering, building materials, furniture, food, and services industries. The initiative will create over 5,000 jobs and produce $70 million worth of goods for export. The Technopark will also provide an International Center for the Exchange of Experience and Engineering, to provide training in specialized skills required by industrial enterprises. Other facilities include an office complex, residential buildings, an eco-park, a large exhibition hall and a shopping center. Apart from the Technopark, Zaamin has recently created a zone to develop its services to tourism which is fast becoming a major driver in the scenic region’s economy.

Foreign Investment Agriculture

Companies from the Netherlands Consider Investing in Turkmenistan’s Agricultural Sector

A special session on opportunities for Dutch companies in the Turkmen agricultural market was held at the Green Tech Amsterdam 2024 international exhibition. Representatives from the Netherlands and Turkmenistan's business circles and heads of European research and financial institutions attended, Turkmenportal has reported. Turkmenistan's Ambassador to Belgium, Sapar Palvanov, stated that the country's economic situation and business climate provide favorable conditions for foreign investors. "The government creates equal rights for Turkmenistan's private companies and foreign investors. Foreign investors in business in Turkmenistan will receive full support from the government," Palvanov said. Following the presentation, participants asked about entering the Turkmen agricultural market, with Dutch companies expressing a desire to visit Turkmenistan and familiarize themselves with market opportunities. An agricultural mission to Turkmenistan with the participation of interested Dutch companies and institutions is to be organized. The program will include meetings with the relevant government bodies, Turkmen partners, and private sector representatives.

Aviation Foreign Investment Environmental Awareness business and economy

Sustainable Aviation Fuel Production in Kazakhstan

On June 20, Chairman of the Board of Kazakhstan’s national oil and gas company KazMunayGas (KMG) Askhat Khasenov attended a meeting with the management of the American company LanzaJet and the Japanese investment company Mitsui to discuss the production of SAF (Sustainable Aviation Fuel) in Kazakhstan. SAF is an environmentally-friendly version of Jet-1 fuel that reduces carbon emissions by 80%. According to KMG, a preliminary feasibility study for the possible construction of a SAF production facility in Kazakhstan has already been completed by KMG and Air Astana with financial assistance from the European Bank for Reconstruction and Development (EBRD). The next stage is developing a feasibility study for the actual implementation of the project. Air Astana is currently exploring the use of SAF by its air fleet. Regarding the concept of low-carbon development, the share of SAF consumption by the airline company will gradually increase to 5% by 2040, 15% by 2050, and 25% by 2060. Three large oil refineries owned by KazMunayGas are ready to produce Jet A-1 aviation fuel, which could be mixed with SAF in the future. LanzaJet recently opened LanzaJet Freedom Pines Fuels in the US, the world's first SAF production facility, with plans to produce 1 billion gallons of SAF by 2030.