• KGS/USD = 0.01126 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%

Viewing results 1 - 6 of 130

U.K. Company to Manufacture Innovative Material to Improve Irrigation in Kyrgyzstan

Back in November 2023, Chairman of the Cabinet of Ministers of the Kyrgyz Republic, Akylbek Japarov met head of Concrete Canvas, Will Crawford in Cardiff to discuss the establishment of a plant in Kyrgyzstan. On 23 April representatives of the company travelled to the Chui region of northern Kyrgyzstan for further negotiations attended by Kyrgyzstan’s Deputy Chairman of the Cabinet of Ministers - Minister of Water Resources, Agriculture and Processing Industry, Bakyt Torobayev and British Foreign Secretary David Cameron. Concrete Canvas, produces waterproof flexible concrete filled geosynthetic composite mats used for lining irrigation canals to prevent erosion and reduce seepage losses. Hailing the benefits of the product, Torobayev stated, “Across Kyrgyzstan, the length of canals is 30 thousand kilometres, including 11 thousand kilometres of -unsurfaced- canals. By laying concrete material on these canals, we will avoid seepage of water and ensure its efficient use. Kyrgyzstan is an agricultural country with a lot of arable land, so we really need such materials. The plan is to build the company’s plant in the Osh region in south Kyrgyzstan in the near future.” Material produced by the Kyrgyzstan plant will meet domestic demand and could also be exported to Russia and Uzbekistan.

Chinese Investors Plan to Build Solar Power Plant in Tashkent Region

Chinese investors have agreed to implement more major projects in Uzbekistan, according to statements made following the visit of a trade delegation from China to Uzbekistan's Tashkent region. Chinese businesses intend to invest $2 billion in the construction of a solar power plant in Ahangaran, $25 million in providing food for employees of social facilities, and $20 million in the construction of a diagnostic center. Also, Chinese investors are ready to invest $90 million in projects focused on the production of pharmaceutical products, metal structures, artificial fiber and threads. Earlier, Uzbekhydroenergo and China Southern Power Grid International agreed on joint construction of a 600 MW pumped storage hydropower (PSH) called Verkhny Pskem. The cost of the project is estimated at $1 billion. The first solar power plant in Uzbekistan was established with the assistance of the World Bank Group, Abu Dhabi Future Energy Company (Masdar), the Asian Development Bank and the Government of Uzbekistan. The station, with a capacity of 100 megawatts, became the country's first large-scale renewable energy facility. According to Uzbekistan's Ministry of Energy, the country plans to build about 25 large-scale solar power plants in the next 10 years.

Chinese Company Poised to Develop Lithium Industry in Kazakhstan

Zhicun Lithium Group, one of China’s largest companies specializing in the full-cycle production of lithium batteries, is engaged in talks with Kazakh Invest on lithium exploration, production, and processing projects in Kazakhstan. The initiative was discussed on April 12 at a meeting between the company's Vice President, Hong Wei, and Kazakh Invest’s project director, Bauyrzhan Aitkulov. With reference to Kazakhstan’s significant geological potential for the mineral, Aitkulov advised Chinese investors of the strategic importance of developing the lithium industry. He also emphasized the potential offered by the Zhicun Lithium Group’s knowledge and experience in furthering exploration and the creation of a production plant for lithium products in Kazakhstan. As reported by Kazakh Invest, both parties are poised to engage in long-term cooperation and technology transfer to create sustainable lithium production chains necessary for the development of processing industries, including green energy.

Economist Marat Kairlenov: Kazakhstan Must Keep Up With Uzbekistan

In 2023, crude oil remained Kazakhstan's main export commodity, accounting for $42.3 billion, or 53.8%, of the republic's total gross domestic product (GDP). According to a proprietary forecast, Uzbekistan may overtake its neighbor in terms of GDP by 2037. This is due to the continuing technological lag in the raw materials-based economy of Kazakhstan, according to economist Marat Kairlenov, who recently discussed ways to diversify Kazakhstan's economy and create jobs. "We remain predominantly a raw material country; however, in the GDP structure, agriculture accounts for only 4%, industry -- 36%, and services -- 56%," Kairlenov told kapital.kz. He emphasized that changing the economic orientation requires time, and active use of raw materials sector opportunities, as other countries have done during reforms. The key issue is the equal distribution of national wealth. It's important to revise agreements with large subsoil producers to increase the wages of citizens. "In 2023, Kazakhstan's GDP reached 119 trillion tenge ($266.2 billion) with only 31% going to wages. This shows the need for policy correction," Kairlenov added. Speaking about economic diversification, the economist mentioned new technologies in mining rare metals, such as high-grade nickel. "Our country is rich in various minerals and we should actively develop their extraction," he believes. However, oil dependence remains an issue. "The price of oil is crucial, and the war in Ukraine incentivizes countries to give up oil". He assumes that at an average oil price of $30 per barrel, production will become unprofitable. In this regard, Kairlenov calls for the active development of other sectors of the economy, such as the extraction of rare metals and the information technology (IT) sector. "We need to get rid of misconceptions, for example, about the contribution of [cryptocurrency] mining farms to the economy," he stressed. Kairlenov draws attention to fading investment activity -- and the growing number of seized accounts, which indicates negative trends in the economy. "Policies must change to incentivize job creation and improve the welfare of citizens," he concludes. How can Kazakhstan create new jobs and stimulate economic growth? Kairlenov suggests a number of concrete steps to create jobs in the country. "Very simple -- we need to reduce customs duties on imported cars and machinery to the level of 2010. The same applies to scrappage duty." Reducing the cost of cars stimulates tourism and the development of agriculture, which needs modern equipment. In addition, Kairlenov notes the need for infrastructure renewal. "Costs are inevitable for new power lines, pipes and other engineering systems. The whole country needs renewal, which will create demand for machinery and many jobs," he explains. It's also important to create a favorable environment for business development. "Liberalizing the economy is the key to progress. Less regulation is required from the state and more freedom for entrepreneurs." he added. Kairlenov also calls for attracting foreign investment in promising industries. "Why don't we launch the production of [railroad] carriages or other goods in which we have advantages?" Asked about Uzbekistan's future as a regional economic leader, Kairlenov...

Major Industrial and Energy Projects for Uzbekistan

On April 8th, Uzbekistan President Shavkat Mirziyoyev attended a launch ceremony for the construction of two major industry and energy projects in the Jizzakh region. The first, in the Gallyaaral district, comprises an industrial zone specializing in metallurgy. Encompassing a customs warehouse and 7 projects worth $500 million, the new zone will manufacture various fittings, steel balls, pipes, automobile bodies, and provide 5,000 jobs. The second project to be established in the Farish district in collaboration with China Poly Group and China Electric, is a large 500-megawatt solar power plant. With investment of $350 million, the plant will generate 1.1 billion kilowatt-hours of electricity per annum and improve the supply of energy to 450,000 households. The first 200 megawatts will be put into operation later this year. It was announced at the ceremony that in the coming years, additional thermal, wind and solar power plants with a total capacity of 1,660 megawatts will be built in the Jizzakh region. The new facilities will improve the standard of living of the local population and provide a new impetus to the region’s economic development.

Kazakhstan’s Potential to Overtake China in Production of Rare-Earth Metals

Kazakhstan has become a major participant in the international race for the extraction of valuable rare-earth metals or rare-earth elements (REEs). According to an https://asiatimes.com/ interview with international development expert Javier Piedra, the republic can not only compete with China -- but even overtake it in terms of production. Mr. Piedra, a financial consultant and former representative of the U.S. Agency for International Development (USAID), reported that China currently controls 70% of the global production REEs. He also explained that because of China's tense relations with the West, Kazakhstan was in an advantageous position to develop its domestic industry in the sector. In a report by the Asia Times, Piedra stated, "Kazakhstan could be on par with China in mining such rare earth elements as scandium, yttrium and 15 lanthanides, which are used in the production of computers, turbines and cars." European and American investors are actively seeking opportunities to develop the industry outside China, and the republic's subsoil, rich in rare metals, can provide a highly valuable resource to industries such as technology and manufacturing. In addition to Western countries, India also stands to benefit from the extraction of Kazakhstan's rare earth elements and according to the Indian business press,the republic could already cover India's demand for REEs. The REE potential of Kazakhstan has been known since 2010 but was largely ignored by foreign investors in preference to developing their businesses in China. Extraction of REEs is an expensive and financially risky business. Exploration for deposits is similarly costly and markedly time consuming. However, the strategic importance of rare metals is growing. As claimed by Piedra in the Asian Times, everything may well change; "Western governments should identify alternative suppliers, including Kazakhstan, to reduce possible risks for investors and the likelihood of supply disruptions." The U.S. and the European Union (EU) are now poised to invest heavily in large-scale mining projects and are exploring alternative supply channels. Today, all consumption of yttrium and scandium in the United States depends on imports -- and the EU imports 98% of its rare metals from China. . Last September, New York hosted a presidential summit at which representatives from Kazakhstan, Kyrgyzstan, Turkmenistan, Uzbekistan and the U.S. discussed the exploration and production of critical rare metals. Mr. Piedra believes that Kazakhstan is ready to benefit from its reserves of REEs but mining would first need to be updated to meet current environmental requirements. Care would also be required when choosing potential investors. "Astana will be wary of diplomats, foreign consultants and miners with an outdated view of the world and unfounded geopolitical ambitions. Central Asian countries will discourage attempts to penetrate them 'through the back door.' Such tricks may have worked in the 90s, but not now," warned Piedra via Asia Times. Meanwhile, Kazakhstan's authorities continue to explore opportunities to utilize rare-earth deposits. Last November in Astana, Kasym-Jomart Tokayev and Emmanuel Macron discussed the extraction of strategically important minerals, and last month an alternative dialogue was held between the presidents of Kazakhstan and the...

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