Foreign Investment - The Times Of Central Asia

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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.

Environmental Awareness Foreign Investment Aviation

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.

Foreign Cooperation Foreign Investment

Kyrgyz-German Business Forum

On June 20, First Deputy Chairman of the Cabinet of Ministers of the Kyrgyz Republic Adylbek Kasymaliev presided over a Kyrgyz-German business forum hosted by Frankfurt am Main. Kasymaliev noted that during 32 years of bilateral cooperation, his country’s German partners have implemented several socially significant projects in Kyrgyzstan, including the establishment of an Anti-TB Clinic and a Perinatal Center in Bishkek. Referencing the facts from 2019-2023, bilateral trade turnover had increased 5.5-fold and over 180 joint Kyrgyz-German enterprises currently operate in Kyrgyzstan, first deputy prime minister emphasized that “the potential of cooperation between the two countries has not been fully realized.” Calling on German businesses to further their investment in projects in Kyrgyzstan, Kasymaliev stated, “The undertaken fiscal reforms have made it possible for Kyrgyzstan to instigate the most liberal tax regime in Central Asia”, to the great advantage of German companies and entrepreneurs investing in joint ventures.

Foreign Investment Solar Energy Renewable energy

Malaysian and Chinese Companies to Aid Development of Green Energy in Uzbekistan

A cooperation agreement has been signed between Uzbekistan’s Yashil Energy, Malaysia’s Fabulous Sunview, and China’s Huawei Tech. Investment Tashkent. According to a report by the Uzbek Ministry of Energy, the agreement provides for the joint development of green energy in Uzbekistan and construction of small solar photovoltaic stations with a capacity of 50 MW on the roofs of social facilities, government agencies, and other organizations. The document was signed during the 17th International Conference and Exhibition on “Electricity Production Using Solar Photovoltaic Stations and Smart Energy” held in Shanghai from 13-15 June.

Internet Telecommunication Foreign Investment Digital Silk Road

Kazakhstan to Establish 5G Mobile Coverage by 2026

On June 18, Kazakhstan’s Minister of Digital Development, Innovation and Aerospace Industry Zhaslan Madiev updated the government on progress on improvements to the country’s Internet and mobile communication. International data indicates that the share of the population using the Internet in Kazakhstan is now on par with that of developed countries. Traffic growth has increased by 61.5% since 2020, and the number of users, by 12.9%. According to Speedtest Ookla, in April 2024, Kazakhstan ranked 66th with an average Internet speed of 43.6 Mbps, higher than Russia, Kyrgyzstan, and Uzbekistan. Wired Internet is currently available in 2,606 of Kazakhstan’s 6,290 villages, with plans in place to connect optical communication lines through the PPP mechanism to 3,010 villages. Mobile Internet is now accessible in 4,866 villages. As part of tax incentives in 2023, 1,161 villages were connected to 4G technology. Work to connect the remaining 1,424 villages is ongoing. Regarding the further development of 5G technology, operators Kcell and Tele2 will continue work to expand 5G coverage in the cities of Astana, Almaty, Shymkent, as well as regional centres. To date, 1,144 base stations have been installed in 20 cities. “In accordance with instructions issued by the Head of State, the introduction of 5G mobile communications should be completed before the end of 2025,” reported the minister. Madiev then outlined the three steps required to develop the Digital Silk Road and turn Kazakhstan into a regional digital hub. The first is to lay a 370-kilometer fiber-optic line along the bed of the Caspian Sea with investment by telecom operators in Kazakhstan and Azerbaijan amounting to more than 23 billion tenge. A joint venture has been created between Kazakhtelecom JSC and Azertelecom LLC, and a tender to select a contractor for the design and installation of an underwater fibre-optic line is underway. The second is the construction of the national West-East Internet hyper highway, which will increase Internet transit traffic across Kazakhstan. The final step is the construction of a data processing centre, no lower than Tier-III level, for storing transit and international traffic.