• KZT/USD = 0.00221
  • TJS/USD = 0.10820
  • UZS/USD = 0.00008
  • TMT/USD = 0.29760
  • KZT/USD = 0.00221
  • TJS/USD = 0.10820
  • UZS/USD = 0.00008
  • TMT/USD = 0.29760
  • KZT/USD = 0.00221
  • TJS/USD = 0.10820
  • UZS/USD = 0.00008
  • TMT/USD = 0.29760
  • KZT/USD = 0.00221
  • TJS/USD = 0.10820
  • UZS/USD = 0.00008
  • TMT/USD = 0.29760
  • KZT/USD = 0.00221
  • TJS/USD = 0.10820
  • UZS/USD = 0.00008
  • TMT/USD = 0.29760
  • KZT/USD = 0.00221
  • TJS/USD = 0.10820
  • UZS/USD = 0.00008
  • TMT/USD = 0.29760
  • KZT/USD = 0.00221
  • TJS/USD = 0.10820
  • UZS/USD = 0.00008
  • TMT/USD = 0.29760
  • KZT/USD = 0.00221
  • TJS/USD = 0.10820
  • UZS/USD = 0.00008
  • TMT/USD = 0.29760
19 October 2026

Viewing results 1 - 6 of 129

Diplomatic Renaissance: How Tokayev’s Visit to Mongolia Went

The recent state visit by Kassym-Jomart Tokayev to Mongolia, the first by a Kazakh president in 16 years, demonstrated an excellent approach to expanding Astana's strategic ties. After all, despite 32 years of diplomatic relations and a relatively extensive Kazakh diaspora in Mongolia, under the first president of Kazakhstan, Nursultan Nazarbayev, Astana's ties with Ulaanbaatar were essentially put on hold. This pause in relations likely arose due to Mongolia's political reputation in the region. Protests often erupt in the country, sometimes becoming particularly violent. In 2008, when the Kazakh authorities justified their failures in the economy with the outbreak of the global economic crisis, a state of emergency was imposed in Mongolia for four days in July. The reason was violent opposition protests against the results of the parliamentary elections. Protesters smashed the headquarters of the ruling party and set fire to several buildings in the center of Ulaanbaatar, killing five people and injuring 300. For Mongolia, with its population of 3.4 million, this was a significant shock, as it was for its neighbors in the Eurasian region, where three leaders fell between 2003 and 2005 -- Eduard Shevardnadze in Georgia, Leonid Kuchma in Ukraine, and Askar Akayev in Kyrgyzstan. All this was declared in the region as an “export of revolutions,” building around this notion, a conspiracy theory about the machinations of the U.S. State Department and George Soros. Tokayev's state visit to Mongolia 16 years after Nursultan Nazarbayev refers to the Kazakh leader's key idea about the renaissance of Central Asia. Mongolia is no stranger to the region in one way or another. The main thing for Kazakhstan is the strong Kazakh diaspora, which exceeds 117,000 people. This is the largest national minority in Mongolia and the second largest ethnic group after the titular one. A Kazakh newspaper is published in Mongolia, some Kazakh TV channels are shown on television, and there is an hour of radio news in Kazakh. In short, the basis for strengthening relations is powerful. Tokayev and the president of Mongolia, Ukhnaagiin Khurelsukh, who received him, spoke in both narrow and extended formats about reaching the level of strategic partnership. Tokayev and Khurelsukh, even before the one-on-one meeting, had revitalized diplomatic and trade ties between Kazakhstan and Mongolia. Data from the Statistics Committee of the Ministry of National Economy of Kazakhstan provides evidence. Since 2017, there has been a steady decline in trade turnover between the countries. In 2017, its level was $74.8 million; in 2018 - $67.4 million; in 2019 - $59.9 million. In 2020, it fell to $29.3 million. COVID restrictions can explain such a sharp drop. In 2021, the turnover reached almost $61 million, but at the end of 2023, the trade volume jumped to $150 million. Therefore, when Tokayev said at a joint press briefing that he and the Mongolian president had agreed to turn over $500 million in the “foreseeable future,” this did not seem overly optimistic. The Kazakh delegation did not come empty-handed; during Tokayev's visit, the parties...

Daewoo To Invest $730 Million in Turkmenistan

South Korean company Daewoo Engineering & Construction has won a tender to build a fertilizer plant in Turkmenistan. The project is estimated to cost a trillion won (about $730 million). According to the company, the new plant will be located in Turkmenabat, 450 km east of Ashgabat. It will have an annual capacity of 350,000 tons of phosphate fertilizer and 100,000 tons of ammonium sulfate, and will include additional auxiliary facilities. After the completion of the main contract, final data on the contract's value and implementation terms will be published. The company has stated that implementing the project will allow Daewoo E&C to strengthen its presence in Central Asia and expand its activities in the petrochemical and agricultural sectors, infrastructure, and urban projects. In the future, the company intends to offer environmentally friendly technological solutions to further cooperate with Turkmenistan. Daewoo E&C noted that winning the tender was possible thanks to the support of the South Korean government, including during the official visit of President Yun Seok Yeol to Turkmenistan in June. The company's Chairman, Jeong Won-ju, also met with the Chairman of the People's Council of Turkmenistan, Gurbanguly Berdimuhamedov, in November 2022 during his visit to South Korea. The two sides signed a memorandum of understanding, cementing an agreement on close cooperation. Jeong Won-ju has visited Turkmenistan three times since then, which helped strengthen ties and successfully conclude negotiations. Daewoo E&C is aiming to become a leader in the global EPC (engineering, procurement, and construction) market. “We strive to participate in projects that contribute to a sustainable future,” a company representative stated. Turkmenistan is implementing several major projects with the participation of South Korean companies. Hyundai Engineering has agreed with state-owned Turkmengas to expand the Galkynysh gas field. This project includes the construction of a fourth gas desulfurization facility, making it the largest in the country's history. Korean companies have also been actively constructing and developing an oil refinery in Kiyanly. Projects to create “smart cities” are also being discussed.

Foreign Companies to Invest in Waste Recycling Plants across Uzbekistan

On October 21, Uzbekistan President Shavkat Mirziyoyev attended a presentation on new projects for recycling household waste into electricity. As  reported by the president’s press service, Uzbekistan produces 14 million tons of solid waste annually, but only 4-5 percent is recycled. As a consequence, over 7 million tons of greenhouse gases and 43,000 tons of toxic substances formed at waste landfills are annually emitted into the atmosphere and penetrate the soil. To resolve the problem, the Ministry of Ecology, Environmental Protection, and Climate Change has prepared several projects with foreign investors. The plan is to build waste incineration plants across Uzbekistan and process landfill gases at the Akhangaran landfill, with a total investment of about $1.3 billion. A Chinese company, CAMC Engineering, will invest $350 million in constructing two waste incineration plants in the Andijan and Tashkent regions, capable of processing 4,000 tons of waste daily and generating 630 million kilowatt-hours of electricity annually. Another Chinese company, Shanghai SUS Environment, plans to invest $310 million in building two plants in the Samarkand and Kashkadarya regions to process 3,000 tons of waste daily and generate 480 million kilowatt-hours of electricity annually. The United Arab Emirates Group is to invest $200 million in a plant in the Bukhara and Navoi regions to process 1,500 tons of waste daily and generate 363 million kilowatt-hours of electricity annually, and Sejin (Republic of Korea) will invest $55 million in the construction of a 16-megawatt electricity plant in the Akhangaran district of Tashkent to generate electricity from landfill gases. The combined projects, to be implemented between 2025-'27,  are predicted to burn over 4.7 million tons of solid municipal waste annually and generate 2.1 billion kilowatt-hours of electricity worth $97 million, saving  152 million cubic meters of natural gas and reducing greenhouse gas emissions by 2.4 million tons. Back on September 26, the President of Uzbekistan established the Agency for Waste Management and Circular Economy Development aimed to introduce modern methods of collecting, sorting, and recycling waste and producing alternative energy, raw materials, and organic fertilizers. Eco-industrial zones are also to be created on landfill sites across Uzbekistan.

Kuwaiti Companies Invited to Participate in Privatization of State-Owned Companies in Uzbekistan

At a business forum dedicated to strengthening ties between Uzbekistan and Kuwait, in Tashkent on October 16, Deputy Minister of Investment, Industry, and Trade of Uzbekistan Akram Aliyev noted the importance of partnership with Kuwaiti businessmen, especially in healthcare, agriculture, and tourism. The forum focused on prospects for joint projects mining, energy, textile industry, and logistics. Proposals were also mooted for Kuwaiti investors to participate in the privatization program of over 1,000 state-owned companies in Uzbekistan and improve logistics infrastructure to turn Central Asia into an international trade hub. Over recent years, there have been several developments in cooperation between Uzbekistan and Kuwait. At an investment and trade forum hosted by Kuwait in August and attended by business and ministry representatives from both countries, Uzbek Foreign Minister Bakhtiyor Saidov encouraged Kuwaiti investors to explore prospects for partnership in agriculture, light industry, medical products, and renewable energy. The foreign ministers then met again, in New York in September 2024, to discuss further steps to strengthen bilateral cooperation, including the establishment of joint trade committees and new initiatives in logistics and infrastructure.

Turkic Investment Fund to Begin Financing Projects

Following the participation of its head, Temir Sariev, in a meeting of the Chambers of Commerce and Industry of the Turkic states in Istanbul on October 16, Kyrgyzstan’s Chamber of Commerce and Industry announced that from January 2025, the Turkic Investment Fund, with an authorized capital of $1 billion, will begin financing major joint projects of member countries of the Organization of Turkic States. The Organization of Turkic States, currently comprising Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey, Uzbekistan, and Turkmenistan, with Hungary and the Turkish Republic of Northern Cyprus as observers, was founded in 2009 to foster comprehensive cooperation among Turkic-speaking nations. The Turkic Investment Fund, aimed to mobilize the economic potential of the Organization of Turkic States member states, strengthen trade and economic cooperation, and implement joint projects in infrastructure, renewable energy, agriculture, tourism, and IT, was established at the extraordinary summit of the Organization of Turkic States in March 2023 in Ankara. Founding members include Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey, and Uzbekistan. Hungary joined in June 2024, and Turkmenistan has an observer status. After the inaugural meeting of the Fund's Board of Governors in Istanbul in May 2024, the Turkish Ministry of Finance declared that by the end of 2024, the Turkic states are poised to play to an important role in the world economy, reaching an economic volume of $1.9 trillion and a population of 178 million.

Kazakhstan Establishes Coordination Council of Partners for Water Sector Development

Kazakhstan has established a Coordination Council of Partners for the Development of the Water Sector. It includes the Kazakh Ministry of Water Resources and Irrigation representatives, the United Nations Development Programme (UNDP), and other international organizations and financial institutions. According to the ministry, the Coordination Council will coordinate the actions of government agencies, UNDP, international financial organizations, and donor communities according to national priorities in the water sector. The Council will mobilize and effectively distribute financial and technical resources to achieve the goals. The Council will support developing and implementing strategic documents, such as the Water Code, the Concept for the Development of the Water Resources Management System, and the Comprehensive Water Sector Development Plan, as well as strengthening the legislative framework and institutional mechanisms for sustainable water management. By implementing best international practices and innovative solutions in water resources management, the Council will organize the exchange of knowledge and experience, increase the capacity of specialists, and inform citizens about sustainable water resources management principles. Another key task for the Council is strengthening regional cooperation in water resources management and increasing resilience to climate change and natural disasters such as droughts and floods. Minister of Water Resources and Irrigation Nurzhan Nurzhigitov commented: “The establishment of the Coordination Council is an important step for the water sector in Kazakhstan. By coordinating the efforts of the Ministry, international organizations, and donor communities, the Council will play an important role in promoting the country's long-term environmental stability and economic development. The Coordination Council will help mobilize resources, strengthen governance, expand regional cooperation, and promote sustainable water resource management practices. These collective efforts will address growing climate challenges and ensure a stable future for Kazakhstan and Central Asia.” On September 30, the Coordination Council held its first meeting in Astana. The meeting discussed partnerships in managing Kazakhstan's water resources and presented a Water Partnership Initiative for 2024-2030, a joint proposal between the Ministry of Water Resources and Irrigation and UNDP. The document outlines specific activities, such as developing an information system for water resources, the modernization of water infrastructure to respond to climate challenges, implementing modern irrigation systems, and transboundary water cooperation. Katarzyna Wawiernia, UNDP Resident Representative in Kazakhstan, stated at the meeting: "Given the complexity of the water agenda, it is clear that no single government or organization can tackle these issues alone. Therefore, addressing these challenges requires combining resources, investments, technical expertise, and innovations. I hope that the Partnership Initiative proposed today by UNDP and the Ministry of Water Resources and Irrigation will be an important catalyst in this process." For decades, Kazakhstan has faced a host of water-related challenges, such as the shrinking Aral Sea, largely caused by decreasing water flows in transboundary rivers, devastating spring floods, and irrigation water shortages in the country’s southern regions.