• KGS/USD = 0.01137 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09272 -0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01137 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09272 -0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01137 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09272 -0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01137 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09272 -0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01137 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09272 -0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01137 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09272 -0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01137 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09272 -0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01137 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09272 -0.11%
  • UZS/USD = 0.00008 0%

Viewing results 1 - 6 of 26

Turkish Company to Manufacture Irrigation Systems in Kazakhstan

Akplas, a leading Turkish manufacturer, has announced plans to produce modern irrigation systems for agriculture in Kazakhstan’s Kyzylorda region. According to a report issued by Kazakh Invest, agreement on the project was reached during the Turkish company’s visit to Kazakhstan on 11 May. During their meeting, organized with assistance from Kazakh Invest, representatives of Akplas discussed the implementation of the project with Kyzylorda’s executive bodies and inspected the site earmarked for the build of the factory. Expected to be commissioned in early 2025, the first stage of the project will cost around $10 million, followed by a further investment of some $50 million. The facility will initially manufacture sprinkler irrigation systems to serve 80 thousand hectares per year and within five years, increase its production capacity for the irrigation of 400 thousand hectares.    

South Korean Сompanies to Modernize Kazakhstan’s Power Plants

At the end of April, a Memorandum of Understanding was signed by the Ministry of Energy of Kazakhstan, KEPCO and Doosan Enerbility regarding the South Korean companies’ investment in modernizing Kazakhstan’s GRES Topar power plant and power plants in Astana, Almaty, and Pavlodar. Kazakh Invest welcomed the Korean partners’ pledge to provide innovative environmental solutions to increase the plants’ productivity. In support of the initiative, Kim Jung-Kwan, Senior Vice President of Doosan Enerbility, commented, "The environmental solutions of KEPCO and Doosan Enerbility are optimal for the government of Kazakhstan, which seeks to reduce the level of air pollution in the country. After signing this memorandum, we will work together to contribute to the development of environmentally friendly energy projects in Kazakhstan.”    

Germany Increases Investment and Trade in Kazakhstan

In a report on the implementation of Kazakh-German projects at a meeting of the Investment Promotion Council on 24 April, Kazakh Invest stated that investment from Germany in Kazakhstan reached an all-time high of $770 million in 2023. To date, the pool of German initiatives planned for Kazakhstan includes 63 projects with a value of around $54.4 billion and the potential to create 14.7 thousand jobs. The 32 projects already in operation, have created some 6,000 permanent posts. Bilateral trade turnover between Kazakhstan and Germany is also very positive , having leapt by 24.7% in 2022 and 41.3% in 2023. Kazakhstan, as its key partner in Central Asia, currently ranks as one of Germany’s top 50 trading partners.

Uzbekistan Launches Construction of New Power Plants

On March 25th, Uzbekistan President Shavkat Mirziyoyev pressed a symbolic button to launch the construction of new power plants in the country’s Namangan region. Today, the Namangan region has 913 megawatts of generating capacity. Over the past three years, electricity consumption in the region has increased by 24 percent and to meet the ever-growing demand, three projects have been launched with a total capacity of 1,228 megawatts at a cost of $1.1 billion. The projects comprise a cascade of hydroelectric power plants and two solar power plants. The Uzbekhydroenergo joint stock company will invest $434 million in a cascade of 6 hydroelectric power stations. With a total capacity of 228 megawatts, the plants will generate 1 billion kilowatt-hours of electricity per year, saving 310 million cubic meters of gas and providing electricity to 430 thousand households. The German company Hyper Partners GmbH will build a solar power plant with a capacity of 500 megawatts. The cost of the project is $350 million and the annual capacity, 1.095 billion kilowatt-hours. Another solar power plant will be built in cooperation with Tepelen Group Holding Limited from the United Arab Emirates. Its cost will also be $350 million and its capacity, 500 megawatts. The connection of the above power plants to the power grid is scheduled for completion by the end of this year. Combined, the projects will provide the Namangan region with an annual generating capacity of 2141 megawatts and 7.8 billion kilowatt-hours of electricity. Since this is more than enough to cover the region's need for 5.5 billion kilowatt-hours, any excess electricity will be sent to neighbouring Andijan and Fergana.

Foreign Companies Operating in Kazakhstan Double in Five Years

The number of foreign and joint venture (JV) companies doing business in Kazakhstan reached 52,000 as of January 2024, a number that has more than doubled in five years from 24,700 in 2019, according to a report by Energyprom analysts. At the beginning of this year, 43,400 companies were registered in Kazakhstan defined as legal entities or branches with a foreign form of ownership. Additionally, there were 8,700 JVs. In terms of types of activity, most foreign companies operate in the fields of trade and services, and are most often small businesses. That diverges from Kazakhstan's priorities for the economy to attract and maintain large organizations in industry, construction, and IT. In total, more than 11,000 going concerns, both foreign and JVs, are working in these sectors. At the end of last year in the Karaganda Region, workers completed the construction of Kazakhstan's first lime production plant, which a Belgian company invested in to build. Furthermore, foreign investment totaling $482 million is behind the construction of a copper smelting plant in East Kazakhstan with a capacity of 25 million tons of products per year. In Aktobe, thanks to investment from Italy, a plant will produce thermal insulation materials. Agreements on all of these projects have already been signed. According to the Bureau of National Statistics of the Republic of Kazakhstan, Russia holds the largest share among JVs and foreign enterprises, which stands to reason given that this northern neighbor is Kazakhstan's key partner in the Eurasian Economic Union (EAEU). In January of this year, 23,400 active Russian and Kazakh-Russian companies were registered in the republic. Following Russia's attack on Ukraine in February 2022, there was a sharp influx of those wishing to move their business from Russia to Kazakhstan. Rounding out the top five countries that are actively opening businesses in Kazakhstan are Turkey, Uzbekistan, Kyrgyzstan, and China. Chinese business leaders have registered not just trading companies, but enterprises in manufacturing and mining industries. About 450 Chinese or Kazakh-Chinese companies in the heavy industries sector are currently operating. Among them is an East Kazakhstan-located producer of fuel assemblies for nuclear power plants in China. In terms of regions, the East Kazakhstan and Atyrau regions - as well as the metropolises of Almaty and Astana - attract the most foreign investment. For example, foreign ventures invested $6 billion in Almaty in 2023, whilst the oil refining sector in the Atyrau Region received $5.5 billion.

One of Malaysia’s Largest Supermarket Chains to Open in Uzbekistan

The Uzbek Embassy in Malaysia hosted a meeting with Kin Chai, the founder and executive director of Malaysia's KK Group of Companies, according to Dunyo news agency. The two sides discussed the implementation of joint investment projects and other areas for mutual collaboration. Chai specifically mentioned that Uzbekistan appeals to foreign investors because of the different tax and customs breaks offered to them. “We are interested in cooperation with business representatives of Uzbekistan,” he said. “(Our) supermarket chain, which is well-known in Malaysia and operates under the KK Super Mart brand, can also successfully operate in Uzbekistan based on the available opportunities." The meeting yielded a decision to launch a chain of KK Super Mart stores in Uzbekistan and to open a trading house for Uzbekistani goods within the KK Group's retail network. The KK Group's conglomerate model has businesses in multiple sectors in addition to retail, including construction, e-commerce, and hotel operations. It has more than 800 sales networks across Malaysia.

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