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BISHKEK (TCA) — On January 22, President of Kyrgyzstan Almazbek Atambayev signed laws on denunciation of agreements between the governments of Kyrgyzstan and Russia on construction and operation of Kambarata-1 hydropower plant (HPP) and the Upper Naryn HPPs cascade. The agreements were signed on September 20, 2012 in Bishkek during the visit of Russian President Vladimir Putin to Kyrgyzstan. Continue reading
BISHKEK (TCA) — Chinese investors show the strongest dynamics of foreign direct investment (FDI) in the Eurasian Economic Union (EEU) countries (Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia). Between 2008 and 2014, China's FDI stock in the region more than doubled, from $11 billion to $27.1 billion. Over the same period, Japanese FDI reached $14.4 billion and South Korean FDI reached $1.9 billion, according to the report “EEU and Eurasia: Monitoring and Analysis of Direct Investments”, prepared by Eurasian Development Bank's (EDB) Centre for Integration Studies. Continue reading
DUSHANBE (TCA) — Sean O’Sullivan, Director General of the Asian Development Bank (ADB)’s Central and West Asia Department, on January 19 concluded a two-day visit to Tajikistan, during which he met with Prime Minister Kokhir Rasulzoda and other senior government officials to discuss the country's development priorities and current economic situation, ADB’s assistance program, and reaffirm ADB’s continued support for national development, the ADB Country Office in Tajikistan said. Continue reading
TASHKENT (TCA) — South Korea company Young Shin Tech plans to organize production of gas cylinders for motor vehicles in Uzbekistan, Novosti Uzbekistana news agency reported. Continue reading
LONDON (TCA) — Study material publicised over summer last year by the World Travel & Tourism Council on the development of Central Asia’s tourism sector shows disappointing figures in terms of the contribution from the sector to the region’s overall economic development. Opening up the area for larger numbers of tourists would make transportation and accommodation cheaper, and the destination, which has many interesting things to offer, more competitive. Continue reading
BISHKEK (TCA) — The European Bank for Reconstruction and Development (EBRD) invested a record amount in the Central Asian region in 2015. Last year’s total investment rose 75 per cent to €1.402 billion from €803 million, in 82 different transactions following 71 projects in 2014. This brings the total EBRD financing in Central Asia to just over €10 billion, the Bank said. Continue reading
