• KZT/USD = 0.00225
  • TJS/USD = 0.10850
  • UZS/USD = 0.00009
  • TMT/USD = 0.29850
  • KZT/USD = 0.00225
  • TJS/USD = 0.10850
  • UZS/USD = 0.00009
  • TMT/USD = 0.29850
  • KZT/USD = 0.00225
  • TJS/USD = 0.10850
  • UZS/USD = 0.00009
  • TMT/USD = 0.29850
  • KZT/USD = 0.00225
  • TJS/USD = 0.10850
  • UZS/USD = 0.00009
  • TMT/USD = 0.29850
  • KZT/USD = 0.00225
  • TJS/USD = 0.10850
  • UZS/USD = 0.00009
  • TMT/USD = 0.29850
  • KZT/USD = 0.00225
  • TJS/USD = 0.10850
  • UZS/USD = 0.00009
  • TMT/USD = 0.29850
  • KZT/USD = 0.00225
  • TJS/USD = 0.10850
  • UZS/USD = 0.00009
  • TMT/USD = 0.29850
  • KZT/USD = 0.00225
  • TJS/USD = 0.10850
  • UZS/USD = 0.00009
  • TMT/USD = 0.29850
01 October 2026

Viewing results 1 - 6 of 6

K-PARK: A Space for Memory, Gratitude, and Cooperation

In the history of every nation, some places come to mean more than their architecture, squares, or parks. They become part of a country’s collective memory, preserving the experiences of previous generations while looking toward the future. K-PARK, an international cultural and business center under development in Alatau City, is designed to be such a space. The foundation stone was laid on September 12, 2025. The project was initiated by the Association of Koreans of Kazakhstan and is timed to coincide with the 90th anniversary of the Korean presence in Kazakhstan, marked in 2027. K-PARK is the first investment project in this new city, weaving the history of one of Kazakhstan’s ethnic groups into the fabric of a city still being built. Memory of an Arduous Journey The history of the Koryo-saram in Kazakhstan is inseparable from the tragic deportation of 1937, when most were forcibly relocated from the Soviet Far East to Central Asia. For the first generation of deportees, Kazakhstan was an unknown land to which they arrived against their will. Over subsequent generations, the Koreans of Kazakhstan became an integral part of the country’s society, contributing to agriculture and industry as well as to science and medicine. They became active in education and culture, in business and civic life. The approaching 90th anniversary is an opportunity to reflect on this journey, and K-PARK is designed to give that memory a spatial form. Plans include a memorial of gratitude to the Kazakh people and a Garden of Identity. A dedicated Koryo-saram area would use historical reconstructions and a traditional Korean hanok house to tell the community’s story; museum and exhibition spaces would offer further context. Gratitude as a Component of Historical Memory The collective memory of Kazakhstan’s Koryo-saram community preserves many stories from the early years following the deportation, including accounts of harsh living conditions and of help from the local population. The project’s creators describe K-PARK as a symbol of respect and gratitude toward the Kazakh people and Kazakh land. Remembering the deportation therefore has another dimension: the solidarity of those who helped the displaced and the capacity of different peoples to coexist. K-PARK seeks to preserve the memory of a traumatic past and show how an ordeal endured can become a foundation for mutual respect and constructive action. From Ethnic Park to Open Public Space K-PARK is not intended to be solely a Korean ethno-cultural site. The planned cultural and business center will accommodate conferences and exhibitions. Its library and interactive museum would offer other ways to encounter the community’s history. Outside, a 5,000-seat amphitheater and sports and children’s playgrounds would provide space for performances and recreation. The official concept also envisions public events and international gatherings. For Koryo-saram, it can serve as a place to preserve historical memory and pass it on to new generations. For other Kazakhstanis, it offers a space to learn about the history of the country’s Korean community and its place in Kazakhstan’s wider history. In September 2026, Yuriy Tskhay, chairman...

Tajikistan Secures $1.7 Million Grant to Digitize Free Economic Zones

Tajikistan will receive a $1.7 million grant to introduce a “Single Window” digital system in the country’s free economic zones to simplify administrative procedures and improve the investment climate. The project agreement was signed in Vienna during a meeting between representatives of Tajikistan’s government, the United Nations Industrial Development Organization, and the Russian Federation. According to Tajikistan’s Ministry of Economic Development and Trade, the talks were attended by Minister of Economic Development and Trade Abdurakhmonzoda Abdurakhmon Safarali, Tajikistan’s ambassador to Austria, Manuchehr Jobir, UNIDO Director General Gerd Müller, and Russia’s permanent representative to international organizations in Vienna, Mikhail Ulyanov. Following the meeting, Abdurakhmonzoda and Müller signed the grant agreement, with the funding to be provided by Russia through UNIDO. The new system is expected to speed up the digitalization of Tajikistan’s free economic zones by simplifying administrative procedures and making their work more transparent. Officials say the platform will also improve conditions for attracting foreign investment and supporting business development. The “Single Window” model is widely used internationally to simplify interactions between businesses and government agencies by centralizing permits, customs procedures, and regulatory approvals within one digital platform.

Kazakhstan to Increase Legal Protections for Investors

Kazakhstan plans to increase legal protections for investors by appointing dedicated investment prosecutors in the regions and major cities and creating a platform under the Prosecutor General’s Office to resolve disputes between investors and state agencies before they reach court. The measures were announced by Vice Minister of National Economy Arman Kassenov during a briefing in Astana as part of efforts to improve the country’s investment climate and attract more foreign capital. “To achieve this, a special platform for pre-trial settlement of disputes will be created under the Prosecutor General’s Office,” Kassenov said. “This mechanism is intended to help resolve disagreements quickly without lengthy court proceedings.” Investment prosecutors will be appointed at the regional level. Their responsibilities will include assisting investment projects, protecting investors’ rights, and providing legal assistance during major projects. Kazakhstan consists of 20 administrative territorial units: 17 regions and the cities of republican significance Astana, Almaty, and Shymkent. The initiative follows the adoption of amendments by Kazakhstan’s parliament that expand the role of the Prosecutor General in protecting investors’ rights. Under the new legislation, the Prosecutor General will also act as the country’s Investment Ombudsman, responsible for safeguarding the legal interests of domestic and foreign investors. Regional investment prosecutors are expected to be drawn from existing regional prosecutors and equivalent prosecutors in the three cities of republican significance. The government is also seeking to expand its international investment promotion work. Kazakhstan plans to open overseas representative offices in major financial and investment centers to attract investors and assist potential projects at an early stage. Kassenov said an investment service has already been established within Baiterek National Managing Holding JSC. It comprises four sector-specific investment directorates responsible for preparing projects and transferring them to the national investment promotion agency, Kazakh Invest. A new investor support center, Kazakhstan Investment House, will also be established within Kazakh Invest. According to Kassenov, the center will operate as a one-stop shop for investors throughout project implementation, helping reduce administrative barriers and speed up decision-making. The government is also working with the private sector to identify investment opportunities with strong import-substitution and export potential. Kazakhstan also plans to expand the use of its National Digital Investment Platform, which allows authorities to monitor investment projects in real time, track deadlines, and address emerging issues more efficiently. The reforms are part of Kazakhstan’s strategy to attract much higher levels of investment in the coming years. Earlier, authorities announced plans to nearly triple investment in the economy by 2029 as part of efforts to accelerate economic growth and diversification.

Kazakhstan Climbs 30 Positions in Clean Energy Investment Ranking

Kazakhstan has significantly improved its position in the international Climatescope ranking of clean energy investment attractiveness, rising by 30 places over the past eight years, according to the Ministry of Energy. The country moved from 54th place in 2017 to 24th in 2025 among emerging markets, reflecting the expansion of renewable energy and improvements in the investment climate. The Climatescope ranking assesses countries’ attractiveness for investment in clean energy and decarbonization, analyzing policies, infrastructure, and market potential across more than 100 nations. The study is compiled by BloombergNEF, a research unit of Bloomberg specializing in data and forecasts on the energy transition, new transport technologies, and commodity markets. According to the ministry, Kazakhstan’s improved standing is driven by increased investment in renewable energy projects and consistent state support for green energy. The country has introduced competitive auctions and guaranteed power purchase mechanisms, which have helped attract international investors. “Kazakhstan is making significant progress in the development of clean energy. Growing investor interest and improved market conditions indicate that the country is becoming one of the regional leaders in attracting capital for low-carbon technologies,” the ministry said. Major international companies involved in projects in Kazakhstan include TotalEnergies, China Power, Masdar, and China Energy. Looking ahead, Kazakhstan plans to commission more than 8 GW of new renewable energy capacity by 2035, which is expected to diversify the energy mix and strengthen the resilience of the national power system. Among Central Asian countries, Uzbekistan achieved the strongest result in the 2025 ranking, placing 23rd. As previously reported by The Times of Central Asia, Kazakhstan presented its green energy transition strategy at an international forum in the United Kingdom. In addition, the government aims to eliminate the electricity deficit and begin exports as early as 2027.

Uzbekistan Unveils New Capital Market Reforms to Attract $1 Billion in Investment

Uzbekistan has approved a presidential decree aimed at enhancing the investment climate in the country’s capital markets. According to the Ministry of Justice, the reform package is designed to attract $1 billion in new investments by 2030 through the introduction of modern financial instruments. As part of this strategy, authorities plan to issue corporate bonds worth five trillion Uzbekistani som (approximately $415 million) to expand funding opportunities for local businesses. The ministry noted that the decree also focuses on improving investor protection by introducing mechanisms expected to eliminate over 85 percent of current violations in the capital market. A key component of the reform is the indefinite extension of the “Regulatory Sandbox”, a special legal regime that allows financial institutions to test innovative products under simplified regulatory conditions. Within the sandbox framework, Uzbek legal entities can apply for participant status, while foreign organizations and local investment funds may offer financial services related to the safe custody and accounting of securities they issue or hold. The decree also permits issuers, in specific cases outlined by law, to release unsecured corporate bonds exceeding the size of their own capital, broadening fundraising options for businesses. Separately, Uzbekistan has taken a major step toward digital finance. As previously reported, the Wallet service on the Telegram messaging platform officially launched in Uzbekistan on December 9, giving over 27 million local users access to cryptocurrency transactions. The service supports major digital assets such as Bitcoin, Toncoin, and USDT, enabling users to buy, store, and transfer crypto using local payment systems. The launch reflects Uzbekistan’s broader ambition to position itself as a regional hub for regulated digital financial services.

Pakistani Developer Proposes “New Uzbekistan” Complex in Islamabad

Uzbekistan and Pakistan are exploring new avenues for cooperation in urban development, with discussions underway to construct a “New Uzbekistan” residential complex and park in Pakistan's capital Islamabad. The talks were reported by the Dunyo news agency following a meeting between Uzbekistan’s Ambassador to Pakistan Alisher Tukhtaev and representatives of Pakistani developer Habib Rafiq Pvt. Ltd. According to Dunyo, both sides discussed launching joint initiatives and strengthening long-term partnerships. Tukhtaev briefed the company’s leadership on Uzbekistan’s investment climate, including the role of free economic zones, the nationwide construction of New Uzbekistan residential areas, and the ongoing New Tashkent city project. He also highlighted the tax and customs incentives available to foreign investors, administrative support for large-scale developments, and Uzbekistan’s strategic location along key Eurasian transport corridors. Habib Rafiq’s General Manager, Aslam Malik, praised Uzbekistan’s reform efforts, stating that they offer “very favorable conditions for foreign investors, especially in construction and infrastructure.” He noted that simplified procedures and expanded business guarantees are already yielding results. “We are well aware of the changes taking place in Uzbekistan’s construction sector,” Malik said. “In recent years, the country has gained substantial experience in infrastructure development, modern housing, and new urban planning. We are interested in studying this experience and participating in future projects.” The Pakistani side also showcased its flagship Capital Smart City development, a large-scale project near Islamabad covering 2,800 hectares. The complex already features residential buildings, schools, kindergartens, sports facilities, and modern recreational parks. Construction is also underway on Silicon Village, envisioned as a local version of Silicon Valley. Malik proposed establishing a New Uzbekistan residential area and park within Capital Smart City, contributing to projects in New Tashkent, and organizing leadership visits to Uzbekistan. He also invited leading Uzbek construction companies to participate in projects in Pakistan. Abid Kabir Chima, CEO of Silicon Village, expressed interest in expanding cooperation with Uzbekistan’s technopark.