Issue 4569 - 01.11.2024
01.11.2024

The head of state held the 36th plenary session of the Foreign Investors Council

Welcoming the participants of the event, President Kassym-Jomart Tokayev noted that the Council has become the most important dialogue platform for discussing issues of improving the investment climate. Referring to data from the International Institute for Management Development (IMD), he emphasized that our country has entered the top 35 competitive countries in the world.

- We have set ourselves a fairly ambitious goal - to attract an additional 150 billion dollars of foreign direct investment by 2029. To achieve this goal, the Investment Headquarters under the Government has been given expanded powers to promptly resolve emerging problems. In May of this year, I signed a Decree that strengthened the basis for significant liberalization of the national economy. We will continue consistent systemic steps aimed at improving the working conditions for investors in the country, - said the head of state.

Kassym-Jomart Tokayev emphasized that Kazakhstan has a unique mineral resource base and spoke about measures to improve the efficiency and transparency of processes in the field of geological exploration and mining. According to him, over the past 6 years, Kazakhstan has attracted private investment in geological exploration in the amount of more than 1 billion dollars.

Currently, about 1.6 million square kilometers of the country’s territory are open for obtaining subsoil use rights for geological exploration.

- The recently adopted National Infrastructure Plan until 2029 opens a "window of opportunity" for local manufacturers. About 200 major infrastructure projects will be implemented, estimated at more than $86 billion. The government will form a list of goods for localization of off-take contracts. Industrial growth requires a highly qualified workforce. That is why I declared 2025 the Year of Blue-Collar Professions. We are looking for investors willing to improve the quality of technical and vocational education in Kazakhstan and develop the relevant infrastructure, - the president said.

Describing the situation in the energy sector, the head of state noted the merits of international oil companies, which played an important role in the development of the country

- Foreign investors have invested capital, provided advanced technologies and highly skilled labor. Their investments have contributed to the growth of our energy sector: over the past 30 years, oil production has tripled. Thanks to this, Kazakhstan has entered the top five countries with high rates of oil production growth. Speaking about the future, we set a goal to exceed the threshold of 100 million tons per year, - the president said.

As noted below, the expansion of the petrochemical industry is also key to economic diversification.

- In 2022, we launched the largest polypropylene plant in Central Asia with a capacity of 500 thousand tons per year. Currently, this enterprise covers almost 60% of domestic demand and exports products to Europe, Turkey and China. In September of this year, the construction of a polyethylene plant with a capacity of 1.2 million tons per year began. A number of petrochemical projects worth more than 14 billion dollars are in development, - said Kassym-Jomart Tokayev.

Particular attention in the speech was paid to increasing the investment attractiveness of the "clean energy" sector. In particular, specific agreements were reached on the implementation of 43 GW of "green" projects in Kazakhstan with such global companies as Total, Svevind, ACWA Power and Masdar. In addition, Kazakhstan has enormous potential for the development of nuclear energy.

- Our country is the world's largest uranium producer. As you know, recently in a national referendum, citizens supported the construction of the first nuclear power plant, which will serve as a long-term investment in our energy security. We are currently considering the possibility of creating an international consortium to implement this project, - added the President of Kazakhstan.

The next sector worthy of investors' attention was named as the agro-industrial sector.

- The development of agriculture in Kazakhstan is a strategic priority for ensuring food security in the Central Asian region. Our country ranks sixth in the world in terms of agricultural land area, which is more than 200 million hectares. Over the past six years, industry exports have doubled, exceeding $5 billion. Since we strive to transform the agro-industrial complex into a high-tech sector, more than 100 projects worth $5 billion will be implemented with the participation of foreign investors, - said the head of state.

In the transport and logistics sector, Kazakhstan aims to strengthen its position as a key Eurasian transit hub. The country plans to repair 11,000 kilometers of old railways and build more than 5,000 new ones. The priority is the development of the Trans-Caspian International Transport Route, so key attention is paid to investments aimed at developing its infrastructure through the construction of new cargo terminals and the production of transport vessels.

Kassym-Jomart Tokayev specifically focused on issues of protecting investors' rights and improving regulatory policy

It was noted that one of the objectives of the ongoing modernization of the legal and judicial system is to create a favorable investment climate. Digital interaction between the government and investors is expanding. By the end of the year, it is planned to launch the National Digital Investment Platform, which will allow monitoring the implementation of projects in real time.

The new Tax Code will help to activate the investment cycle by establishing tax preferences, the essence of which is the right to deduct all costs associated with the acquisition of machinery, equipment and software.

In the context of strengthening cooperation in the financial sector, Kazakhstan places emphasis on the work of the Astana International Financial Centre. The AIFC is a unique institution for the region that brings together the best practices of the world's leading financial centres.

In conclusion, the President stated the importance of continuing the dialogue between the Council members and government bodies aimed at improving the investment climate in the country and implementing new initiatives and specific projects.

The event also featured speeches by EBRD President Odile Renaud-Basso, Deputy Prime Minister and Minister of National Economy Nurlan Baibazarov, Chairman of the Board of the Kazakhstan Foreign Investors Council Association Erlan Dosymbekov, Vice President of CNPC Zhang Daowei, Chairman of the Board of the EDB Nikolay Podguzov, President of Alstom for Africa, Middle East and Central Asia Andrew DeLeoni, and Chief Executive Officer of PJSC Lukoil Vadim Vorobyov.

By the Kazakhstanskaya Pravda

Kazakhstan General

01.11.2024

The second meeting of the interparliamentary council of Kazakhstan and Kyrgyzstan was held in Bishkek

Chairman of the Majilis Erlan Koshanov, as part of an official visit to the Kyrgyz Republic, met with Speaker of the Zhogorku Kenesh Nurlanbek Shakiyev and took part in the second meeting of the interparliamentary council on cooperation between the parliaments of Kazakhstan and Kyrgyzstan.

The key topic of the meeting...

Chairman of the Majilis Erlan Koshanov, as part of an official visit to the Kyrgyz Republic, met with Speaker of the Zhogorku Kenesh Nurlanbek Shakiyev and took part in the second meeting of the interparliamentary council on cooperation between the parliaments of Kazakhstan and Kyrgyzstan.

The key topic of the meeting...

01.11.2024

The head of state sent a telegram of condolences to the King of Spain

Kassym-Jomart Tokayev expressed condolences to King Felipe VI in connection with numerous human casualties as a result of the natural disaster in Spain.

- At this difficult moment, on behalf of the people of Kazakhstan and on my own behalf, I express my sincere condolences to you and the families of...

Kassym-Jomart Tokayev expressed condolences to King Felipe VI in connection with numerous human casualties as a result of the natural disaster in Spain.

- At this difficult moment, on behalf of the people of Kazakhstan and on my own behalf, I express my sincere condolences to you and the families of...

01.11.2024

Kazakhstan shows greatest increase in level of peacefulness

The level of peacefulness and security has once again decreased. Thus, according to a report presented by the Institute of Economics and Peace in 2024, the global peace index decreased by 0.56%. This is the twelfth deterioration in the indicator over the past 16 years.

Of the 163 countries presented in...

The level of peacefulness and security has once again decreased. Thus, according to a report presented by the Institute of Economics and Peace in 2024, the global peace index decreased by 0.56%. This is the twelfth deterioration in the indicator over the past 16 years.

Of the 163 countries presented in...

Finance and Investment

01.11.2024

The President held a meeting with the head of the EBRD

Kassym-Jomart Tokayev held a meeting with EBRD President Odile Renaud-Basso, who arrived in Kazakhstan to participate in the 36th plenary meeting of the Foreign Investors Council.

The interlocutors discussed the prospects for implementing a number of joint investment projects in various sectors of the economy, including small and medium-sized businesses, finance,...

Kassym-Jomart Tokayev held a meeting with EBRD President Odile Renaud-Basso, who arrived in Kazakhstan to participate in the 36th plenary meeting of the Foreign Investors Council.

The interlocutors discussed the prospects for implementing a number of joint investment projects in various sectors of the economy, including small and medium-sized businesses, finance,...

01.11.2024

Kazakh PM discusses investment cooperation with CII meeting participants

In Astana, within the framework of the work of the meeting of the Council of Foreign Investors, chaired by Head of State Kassym-Jomart Tokayev, held a number of meetings with participants of the meeting at the government level. They discussed issues of co-operation in the implementation of joint investment projects, cooperation...

In Astana, within the framework of the work of the meeting of the Council of Foreign Investors, chaired by Head of State Kassym-Jomart Tokayev, held a number of meetings with participants of the meeting at the government level. They discussed issues of co-operation in the implementation of joint investment projects, cooperation...

01.11.2024

Economic growth accelerates, fiscal stimulus continues in Kazakhstan

By the end of the third quarter of 2024, the economy showed a significant acceleration up to 4% yoy after the modest figures of the first half of the year (3.3% yoy). The main drivers of this growth were the trade and manufacturing sectors, whose share of GDP dominates and...

By the end of the third quarter of 2024, the economy showed a significant acceleration up to 4% yoy after the modest figures of the first half of the year (3.3% yoy). The main drivers of this growth were the trade and manufacturing sectors, whose share of GDP dominates and...

01.11.2024

Kazakhstan's banks continue to get richer despite tax increases

In 2025, Kazakhstani banks will continue to generate high profits, despite the government's plans to increase taxes for the sector, according to the international rating agency Fitch Ratings.

The agency noted that banks continue to benefit from high interest rates on retail loans, although the base rate of the National Bank...

In 2025, Kazakhstani banks will continue to generate high profits, despite the government's plans to increase taxes for the sector, according to the international rating agency Fitch Ratings.

The agency noted that banks continue to benefit from high interest rates on retail loans, although the base rate of the National Bank...

01.11.2024

Kazakhstan's budget deficit next year reaches 4.7%

The transport and warehousing sector will be the leading industry in 2025. This forecast is given in the Macroeconomic Review of Kazakhstan of the Centre for Applied Economics Research (AERC). "The growth estimate in the transport and warehousing sector for 2024 is 6.9% (yoy) (the estimate has been maintained since...

The transport and warehousing sector will be the leading industry in 2025. This forecast is given in the Macroeconomic Review of Kazakhstan of the Centre for Applied Economics Research (AERC). "The growth estimate in the transport and warehousing sector for 2024 is 6.9% (yoy) (the estimate has been maintained since...

01.11.2024

US dollar exchange rate averages 480.8 tenge in 2025

The exchange rate of the national currency against the US dollar has shown significant weakening over the past three months. This is stated in the AERC Macroeconomic Review of Kazakhstan.

By the end of July, the tenge exchange rate weakened by 4.4% month-on-month and formed at the level of 474.86 tenge...

The exchange rate of the national currency against the US dollar has shown significant weakening over the past three months. This is stated in the AERC Macroeconomic Review of Kazakhstan.

By the end of July, the tenge exchange rate weakened by 4.4% month-on-month and formed at the level of 474.86 tenge...

01.11.2024

Weak rouble and strong dollar await Kazakhstanis in 2025

The forecast for the tenge-dollar exchange rate has worsened, while expectations for consumer inflation have become more optimistic. This is stated in the AERC macroeconomic review for October 2024,.

According to the baseline scenario, the USD/KZT pair will average 467.7 tenge this year. For comparison, in the July review, the forecast...

The forecast for the tenge-dollar exchange rate has worsened, while expectations for consumer inflation have become more optimistic. This is stated in the AERC macroeconomic review for October 2024,.

According to the baseline scenario, the USD/KZT pair will average 467.7 tenge this year. For comparison, in the July review, the forecast...

01.11.2024

Weighted average US dollar rate on Kazakhstan Stock Exchange amounts to 488.26 tenge

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on October 31, 2024 at 17:00 amounted to 488.23 tenge. Compared with the data at 17:00 on October 30 (488.39 tenge per 1 dollar), the national currency against the dollar strengthened by 0.16 tenge.

According to KASE, at the...

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on October 31, 2024 at 17:00 amounted to 488.23 tenge. Compared with the data at 17:00 on October 30 (488.39 tenge per 1 dollar), the national currency against the dollar strengthened by 0.16 tenge.

According to KASE, at the...

Oil and Gas Sector

01.11.2024

Hydrocarbons remain predominant among Kazakhstan’s 17 approved megaprojects

Having loudly announced the approval of the list of 17 major projects with investments of 15 trillion tenge, the Kazakh government is in no hurry to name them by name. Kursiv Research found projects that fit the description previously given by the authorities, named the beneficiaries of these projects and...

Having loudly announced the approval of the list of 17 major projects with investments of 15 trillion tenge, the Kazakh government is in no hurry to name them by name. Kursiv Research found projects that fit the description previously given by the authorities, named the beneficiaries of these projects and...

01.11.2024

Polymer prices in Kazakhstan reach minimum among countries of region

Local polymer production in Kazakhstan demonstrates a significant impact on the price environment of the market. According to the joint project Market Report and the world leader in price analytics ICIS, launched in October 2010 to monitor polymer quotations in the CIS countries, the current market situation confirms the effectiveness...

Local polymer production in Kazakhstan demonstrates a significant impact on the price environment of the market. According to the joint project Market Report and the world leader in price analytics ICIS, launched in October 2010 to monitor polymer quotations in the CIS countries, the current market situation confirms the effectiveness...

01.11.2024

Kazakhstan lowers its oil production plans for 2024

Energy Minister Almasadam Satkaliyev said that Kazakhstan expects to produce more than 88 million tonnes of oil by the end of 2024. This is 2.8% less than the originally planned 90.5 million tonnes. This is reported by the press service of the Ministry of Energy.

According to the Minister of Energy,...

Energy Minister Almasadam Satkaliyev said that Kazakhstan expects to produce more than 88 million tonnes of oil by the end of 2024. This is 2.8% less than the originally planned 90.5 million tonnes. This is reported by the press service of the Ministry of Energy.

According to the Minister of Energy,...

01.11.2024

Kazakhstan intends to produce more than 100 million tonnes of oil per year

The Council of Foreign Investors has become the most important dialogue platform for discussing issues of improving the investment climate. This was stated by President Kassym-Jomart Tokayev at the 36th plenary session. Referring to the data of the International Institute for Management Development (IMD), he stressed that our country has...

The Council of Foreign Investors has become the most important dialogue platform for discussing issues of improving the investment climate. This was stated by President Kassym-Jomart Tokayev at the 36th plenary session. Referring to the data of the International Institute for Management Development (IMD), he stressed that our country has...

01.11.2024

KazMunayGas and Tatneft starts geological exploration at Karaton Podsolevoy site in November

In November of this year, NC KazMunayGas and Tatneft plan to start geological exploration at the Karaton Podsolevoy site, with reference to the press service of the Kazakhstan National Oil and Gas company.

The course of preparatory work for drilling the first exploration well with a depth of 5,500 metres at...

In November of this year, NC KazMunayGas and Tatneft plan to start geological exploration at the Karaton Podsolevoy site, with reference to the press service of the Kazakhstan National Oil and Gas company.

The course of preparatory work for drilling the first exploration well with a depth of 5,500 metres at...

01.11.2024

BAYTAQ party calls on Kazakh government not to negotiate with international oil companies and to collect $5 billion environmental fine on Kashagan

The BAYTAQ Green Party called on the government of Kazakhstan not to negotiate with foreign oil companies participating in the Kashagan project and to recover from them the entire amount of an environmental fine of $5 billion.

"We are against conducting any backstage negotiations on this issue and against unjustifiably reducing...

The BAYTAQ Green Party called on the government of Kazakhstan not to negotiate with foreign oil companies participating in the Kashagan project and to recover from them the entire amount of an environmental fine of $5 billion.

"We are against conducting any backstage negotiations on this issue and against unjustifiably reducing...

01.11.2024

Shell reports Q1-3 results

Anglo-Dutch Shell, a leading upstream investor and operator in Kazakhstan, reported today third quarter profits of US$6 billion that exceeded forecasts by 12% as higher liquefied natural gas (LNG) sales offset a sharp drop in oil refining and trading results.

The results, together with a drop in debt and strong cash...

Anglo-Dutch Shell, a leading upstream investor and operator in Kazakhstan, reported today third quarter profits of US$6 billion that exceeded forecasts by 12% as higher liquefied natural gas (LNG) sales offset a sharp drop in oil refining and trading results.

The results, together with a drop in debt and strong cash...

01.11.2024

TotalEnergies misses estimates for second quarter in a row

TotalEnergies reported declines in revenues and adjusted net income in the third quarter of 2024, missing consensus estimates for the second quarter in a row, but provided an improved outlook for fourth quarter oil and gas production.

Posting its results on Thursday morning, the French supermajor reported a 37% fall in...

TotalEnergies reported declines in revenues and adjusted net income in the third quarter of 2024, missing consensus estimates for the second quarter in a row, but provided an improved outlook for fourth quarter oil and gas production.

Posting its results on Thursday morning, the French supermajor reported a 37% fall in...

Metals and Minerals

01.11.2024

Construction of Yertis Hydrometallurgical Plant starts in Pavlodar

Head of State Kassym-Jomart Tokayev has received today Vitaly Nesis, Chief Executive Officer of Solidcore Resources plc.

The President was informed about the results of activity of one of the largest companies specializing in exploration, mining and processing of precious and non-ferrous metals in Kazakhstan as well as future plans. According...

Head of State Kassym-Jomart Tokayev has received today Vitaly Nesis, Chief Executive Officer of Solidcore Resources plc.

The President was informed about the results of activity of one of the largest companies specializing in exploration, mining and processing of precious and non-ferrous metals in Kazakhstan as well as future plans. According...

01.11.2024

Kazakhstan has more than 4.5 thousand mineral deposits

There are more than 4.5 thousand deposits of natural resources in Kazakhstan, President Kassym-Jomart Tokayev said at a meeting of the Council of Foreign Investors in Astana.

"Private investments in exploration have exceeded $1 billion in just 6 years. Almost 1.6 million square kilometres of Kazakhstan's territory are now available for...

There are more than 4.5 thousand deposits of natural resources in Kazakhstan, President Kassym-Jomart Tokayev said at a meeting of the Council of Foreign Investors in Astana.

"Private investments in exploration have exceeded $1 billion in just 6 years. Almost 1.6 million square kilometres of Kazakhstan's territory are now available for...

01.11.2024

Commission investigates accident at Kazchrome quarry

The Department of the State Labour Inspection Committee for the Aktobe region creates a commission. It will investigate the accident at the Don Mining and Processing Plant, which killed two people, with reference to the press service of the Ministry of Labour and Social Protection of the Population.

"The accident at...

The Department of the State Labour Inspection Committee for the Aktobe region creates a commission. It will investigate the accident at the Don Mining and Processing Plant, which killed two people, with reference to the press service of the Ministry of Labour and Social Protection of the Population.

"The accident at...

01.11.2024

Australian mining companies keen to work in Kazakhstan

Australian companies expressed willingness to develop the mining and metallurgical complex (MMC) in Kazakhstan during the meetings held within the 2024 International Mining and Resources Conference (IMARC) in Sydney, Australia. 

Ambassador of Kazakhstan to Singapore, Commonwealth of Australia and New Zealand Askar Kuttykadam discussed plans and prospects of cooperation during the talks...

Australian companies expressed willingness to develop the mining and metallurgical complex (MMC) in Kazakhstan during the meetings held within the 2024 International Mining and Resources Conference (IMARC) in Sydney, Australia. 

Ambassador of Kazakhstan to Singapore, Commonwealth of Australia and New Zealand Askar Kuttykadam discussed plans and prospects of cooperation during the talks...

Energy Industry

01.11.2024

Kazakhstan develops energy of future

The development of hydrogen energy requires clear rules of the game, as well as incentives for businesses to develop the industry. This opinion was voiced by Asel Kazbekova, Director of KPMG Law Kazakhstan.

During the plenary session at Power Expo Almaty, she noted that the country intends to produce up to...

The development of hydrogen energy requires clear rules of the game, as well as incentives for businesses to develop the industry. This opinion was voiced by Asel Kazbekova, Director of KPMG Law Kazakhstan.

During the plenary session at Power Expo Almaty, she noted that the country intends to produce up to...

01.11.2024

Electricity becomes more expensive for some Kazakhstanis

Starting from November 1, marginal electricity tariffs will increase in some regions of Kazakhstan. According to the order of the Minister of Energy dated October 21, 2024, the change will affect eight EPOS producing light.

From November 1, 2024, the limit will increase for Ekibastuz GRES-1 named after B. Nurzhanov (group...

Starting from November 1, marginal electricity tariffs will increase in some regions of Kazakhstan. According to the order of the Minister of Energy dated October 21, 2024, the change will affect eight EPOS producing light.

From November 1, 2024, the limit will increase for Ekibastuz GRES-1 named after B. Nurzhanov (group...

01.11.2024

KMG, Eni discuss Hybrid Power Plant construction process in Mangistau region

On October 30, Askhat Khassenov, Chairman of the Management Board of JSC NC KazMunayGas (KMG), held a meeting with Luca Vignati, Eni Upstream Director.

The parties discussed the main areas of cooperation, including the implementation of joint projects and prospects for further cooperation aimed at attracting investment in Kazakhstan's energy sector.

The...

On October 30, Askhat Khassenov, Chairman of the Management Board of JSC NC KazMunayGas (KMG), held a meeting with Luca Vignati, Eni Upstream Director.

The parties discussed the main areas of cooperation, including the implementation of joint projects and prospects for further cooperation aimed at attracting investment in Kazakhstan's energy sector.

The...

Manufacturing industry

01.11.2024

Kazstanex under sanctions due to supplies to Russia

On October thirtieth, the US Treasury Department published a fresh sanctions list of companies in connection with the war between Russia and Ukraine. It includes 275 citizens and companies from 17 countries, among them Kazakhstan's Kazstanex. She sells machine tools from manufacturing plants from all over the world. There is...

On October thirtieth, the US Treasury Department published a fresh sanctions list of companies in connection with the war between Russia and Ukraine. It includes 275 citizens and companies from 17 countries, among them Kazakhstan's Kazstanex. She sells machine tools from manufacturing plants from all over the world. There is...

01.11.2024

Waste recycling plant appears in Kazakhstan's Almaty region

A solid waste recycling plant will be built in the Ili district of the Almaty region. The work on the project is 60% complete. The necessary equipment for sorting has already been purchased, issues with infrastructure support, including gas and water supply, have been resolved, with reference to the press...

A solid waste recycling plant will be built in the Ili district of the Almaty region. The work on the project is 60% complete. The necessary equipment for sorting has already been purchased, issues with infrastructure support, including gas and water supply, have been resolved, with reference to the press...

Trade and Consumer Goods

01.11.2024

Food price growth in Kazakhstan decreases to 5.1%

In September, annual inflation in Kazakhstan slowed to 8.3%, and the growth rate of food prices decreased to 5.1% in annual terms. Kazakhstan maintains one of the lowest growth rates of food prices among the EAEU countries. This was reported in the press service of the Ministry of Trade of...

In September, annual inflation in Kazakhstan slowed to 8.3%, and the growth rate of food prices decreased to 5.1% in annual terms. Kazakhstan maintains one of the lowest growth rates of food prices among the EAEU countries. This was reported in the press service of the Ministry of Trade of...

Agriculture

01.11.2024

Mangystau residents consume 65% more meat and meat products than residents of Shymkent

In January-September of this year, 315.8 thousand tonnes of meat and food offal were produced in Kazakhstan 7% more than in the same period of 2023. Of these, 62 thousand tonnes were accounted for fresh or chilled meat of cattle, small cattle, pigs and horses, an increase of 7.9% over...

In January-September of this year, 315.8 thousand tonnes of meat and food offal were produced in Kazakhstan 7% more than in the same period of 2023. Of these, 62 thousand tonnes were accounted for fresh or chilled meat of cattle, small cattle, pigs and horses, an increase of 7.9% over...

01.11.2024

Kazakhstan exports flour to Afghanistan and Iraq

The volume of supplies of Kazakh flour to Uzbekistan and Afghanistan is decreasing. In 2019, more than 1.5 million tonnes of flour worth $362 million were exported from the local market abroad. The main buyers were Afghanistan (909.5 thousand tonnes), Uzbekistan (386.7 thousand tonnes), Tajikistan (86.6 thousand tonnes), Russia (69.3...

The volume of supplies of Kazakh flour to Uzbekistan and Afghanistan is decreasing. In 2019, more than 1.5 million tonnes of flour worth $362 million were exported from the local market abroad. The main buyers were Afghanistan (909.5 thousand tonnes), Uzbekistan (386.7 thousand tonnes), Tajikistan (86.6 thousand tonnes), Russia (69.3...

01.11.2024

Kazakhstan responds to Russia's claims

The Ministry of Agriculture commented on the Rosselkhoznadzor's statement that Kazakhstan used illegal supply chains for quarantined goods.

"The State Inspectorate Committee in the agro-industrial complex did not apply actions to organise a shadow order for the uncontrolled movement of crop products across the territory of the EAEU," the Kazakh ministry...

The Ministry of Agriculture commented on the Rosselkhoznadzor's statement that Kazakhstan used illegal supply chains for quarantined goods.

"The State Inspectorate Committee in the agro-industrial complex did not apply actions to organise a shadow order for the uncontrolled movement of crop products across the territory of the EAEU," the Kazakh ministry...

01.11.2024

Wheat prices disappoint farmers in Europe and Kazakhstan

Wheat prices in the world continue to be under pressure. December futures were trading at 217.5 euro per tonne on the European stock exchange on Monday. December wheat futures on the U.S. stock exchange on Monday closed at $5.59 per bushel ($205 per tonne). One of the reasons is the...

Wheat prices in the world continue to be under pressure. December futures were trading at 217.5 euro per tonne on the European stock exchange on Monday. December wheat futures on the U.S. stock exchange on Monday closed at $5.59 per bushel ($205 per tonne). One of the reasons is the...

01.11.2024

Foreign companies invest $5 billion in agro-industrial complex of Kazakhstan

More than 100 projects worth $5 billion with the participation of foreign investors will be implemented in the agricultural sector. This was stated by the President of Kazakhstan Kassym-Jomart Tokayev during the 36th plenary meeting of the Council of Foreign Investors.

"The development of agriculture in Kazakhstan is a strategic priority...

More than 100 projects worth $5 billion with the participation of foreign investors will be implemented in the agricultural sector. This was stated by the President of Kazakhstan Kassym-Jomart Tokayev during the 36th plenary meeting of the Council of Foreign Investors.

"The development of agriculture in Kazakhstan is a strategic priority...

01.11.2024

Japan sees growing demand for flaxseed oil from Kazakhstan

Japan’s Jateko hopes to increase its import of flaxseed oil from Kazakhstan to 3,000 tons to meet the country’s increasing demand, according to the Kazakh Trade and Integration Ministry.

Japan is experiencing the growing demand for Kazakh flaxseed oil hailing its high quality and health-boosting properties, according to Jateko’s director Anton...

Japan’s Jateko hopes to increase its import of flaxseed oil from Kazakhstan to 3,000 tons to meet the country’s increasing demand, according to the Kazakh Trade and Integration Ministry.

Japan is experiencing the growing demand for Kazakh flaxseed oil hailing its high quality and health-boosting properties, according to Jateko’s director Anton...

Communications and Transportation

01.11.2024

Head of State discussed digital development of Kazakhstan with regional head of Microsoft

Head of State Kassym-Jomart Tokayev received Microsoft President in Central Europe and Central Asia Michelle Simmons.

During the meeting, the prospects for cooperation between Kazakhstan and Microsoft in developing the IT industry and creating a full-fledged ecosystem for startups were discussed.

Kassym-Jomart Tokayev was informed that the Microsoft office in Kazakhstan has...

Head of State Kassym-Jomart Tokayev received Microsoft President in Central Europe and Central Asia Michelle Simmons.

During the meeting, the prospects for cooperation between Kazakhstan and Microsoft in developing the IT industry and creating a full-fledged ecosystem for startups were discussed.

Kassym-Jomart Tokayev was informed that the Microsoft office in Kazakhstan has...

01.11.2024

Turkish owner develops Almaty Airport by increasing tariffs

The Investment plan in Almaty is being prepared by TAV Airports Holding, the owner of Almaty airport. The amount of investment depends on the results of negotiations on tariff increases at Almaty International Airport. 

"The investment plan of Almaty will amount from 150 to 300 million euro over 3-4 years from...

The Investment plan in Almaty is being prepared by TAV Airports Holding, the owner of Almaty airport. The amount of investment depends on the results of negotiations on tariff increases at Almaty International Airport. 

"The investment plan of Almaty will amount from 150 to 300 million euro over 3-4 years from...

01.11.2024

Kazakhstan's roads ready for winter

To date, the network of public roads of national importance is 25,000 km. Of these, 3,600 km are under reconstruction and major repairs, and 21,400 km are under maintenance, including 3,200 km of toll roads. Darkhan Imanashev, Chairman of the Board of KazAvtoZhol, spoke about the current readiness of roads...

To date, the network of public roads of national importance is 25,000 km. Of these, 3,600 km are under reconstruction and major repairs, and 21,400 km are under maintenance, including 3,200 km of toll roads. Darkhan Imanashev, Chairman of the Board of KazAvtoZhol, spoke about the current readiness of roads...

01.11.2024

Car prices change in Kazakhstan

Car production in Kazakhstan continues to decline. According to the Bureau of National Statistics, there is a noticeable decrease in vehicle production in Kazakhstan. Including 82.8 thousand passenger cars (-16.7%), 5.9 thousand trucks (-15.2%), 1.8 thousand buses, trolleybuses and other large-sized cars (-7.5%), 821 combine harvesters (-19%), 1.2 thousand trailers...

Car production in Kazakhstan continues to decline. According to the Bureau of National Statistics, there is a noticeable decrease in vehicle production in Kazakhstan. Including 82.8 thousand passenger cars (-16.7%), 5.9 thousand trucks (-15.2%), 1.8 thousand buses, trolleybuses and other large-sized cars (-7.5%), 821 combine harvesters (-19%), 1.2 thousand trailers...

01.11.2024

Kazakhstan approves agreement on joint use of +7 telephone code with Russia

The Government of Kazakhstan has approved an agreement on the joint use of the +7 telephone code with Russia. Earlier, Astana intended to change its code to +997, but changed its mind due to potential financial and technological difficulties.

"To approve the attached draft agreement between the Government of Kazakhstan and...

The Government of Kazakhstan has approved an agreement on the joint use of the +7 telephone code with Russia. Earlier, Astana intended to change its code to +997, but changed its mind due to potential financial and technological difficulties.

"To approve the attached draft agreement between the Government of Kazakhstan and...

01.11.2024

Kazakhstan plans to import 500 thousand tonnes of bitumen from Russia in 2024

Kazakhstan plans to import 500 thousand tonnes of bitumen from Russia this year and negotiate supplies for 2025, the Ministry of Energy of the republic told Interfax-Kazakhstan.

"The Ministries of Energy of Russia and Kazakhstan have reached an agreement on the import of Russian bitumen in the amount of 500 thousand...

Kazakhstan plans to import 500 thousand tonnes of bitumen from Russia this year and negotiate supplies for 2025, the Ministry of Energy of the republic told Interfax-Kazakhstan.

"The Ministries of Energy of Russia and Kazakhstan have reached an agreement on the import of Russian bitumen in the amount of 500 thousand...

01.11.2024

Kazakhstan seeks to construct over 5,000km of new railway lines

Development of the Trans-Caspian International Transport Route (TITR) is a key priority for Kazakhstan, President Kassym-Jomart Tokayev stated.

The Kazakh leader noted that the present geological situation requires from Kazakhstan to enhance its stand as a key Eurasian transit hub.

Kazakhstan seeks to reconstruct 11,000 milometers of old railways and to construct...

Development of the Trans-Caspian International Transport Route (TITR) is a key priority for Kazakhstan, President Kassym-Jomart Tokayev stated.

The Kazakh leader noted that the present geological situation requires from Kazakhstan to enhance its stand as a key Eurasian transit hub.

Kazakhstan seeks to reconstruct 11,000 milometers of old railways and to construct...

01.11.2024

ADB invests in Kazakhstan’s road safety and regional connectivity

The Asian Development Bank (ADB) will provide National Company KazAvtoZhol JSC with a loan of $291.49 million for the reconstruction of 208 km of highways in the central part of the country.

The ADB project will modernize the existing two-lane highway connecting Kyzylorda to Zhezkazgan, the administrative center of the Ulytau...

The Asian Development Bank (ADB) will provide National Company KazAvtoZhol JSC with a loan of $291.49 million for the reconstruction of 208 km of highways in the central part of the country.

The ADB project will modernize the existing two-lane highway connecting Kyzylorda to Zhezkazgan, the administrative center of the Ulytau...

Real Estate and Construction

01.11.2024

Kazakhstan builds twice as many retail facilities

In the first nine months of this year, about 2.3 thousand non-residential facilities were put into operation in Kazakhstan various enterprises, shops, logistics and infrastructure buildings and structures, schools, hospitals, etc. Almost 1.9 trillion tenge was spent on the construction of all these facilities, according to the reports of the...

In the first nine months of this year, about 2.3 thousand non-residential facilities were put into operation in Kazakhstan various enterprises, shops, logistics and infrastructure buildings and structures, schools, hospitals, etc. Almost 1.9 trillion tenge was spent on the construction of all these facilities, according to the reports of the...

01.11.2024

Investors find themselves in difficult situation in field of housing and communal services of Kazakhstan

In the field of Housing and communal services, domestic investors could not start implementing projects due to barriers from government agencies. The regional prosecutor's office told the details.

In response to the editorial board's request, the agency reported that since the beginning of this year, 10 cases have been resolved, and...

In the field of Housing and communal services, domestic investors could not start implementing projects due to barriers from government agencies. The regional prosecutor's office told the details.

In response to the editorial board's request, the agency reported that since the beginning of this year, 10 cases have been resolved, and...

Pharmaceutical and Healthcare News

01.11.2024

Activities of foreign pharmaceutical company in Kazakhstan discussed at meeting with president

The head of state received the chairman of the supervisory board of Polpharma Jerzy Starak.

On the sidelines of the Foreign Investors Council meeting, the President met with Polpharma Supervisory Board Chairman Jerzy Starak. During the conversation, issues of expanding the presence of the leading pharmaceutical company in Kazakhstan and Central...

The head of state received the chairman of the supervisory board of Polpharma Jerzy Starak.

On the sidelines of the Foreign Investors Council meeting, the President met with Polpharma Supervisory Board Chairman Jerzy Starak. During the conversation, issues of expanding the presence of the leading pharmaceutical company in Kazakhstan and Central...

01.11.2024

Poland’s Polpharma Group seeks to open quality and innovation centre in Kazakhstan

First Deputy Prime Minister of Kazakhstan Roman Sklyar held a meeting with Chairman of the Supervisory Board of Polpharma Group Jerzy Starak. Polpharma Group is the largest pharmaceutical company operating in Kazakh and Polish markets.

During the meeting, the sides discussed implementation of the ongoing pharmaceutical projects and the company’s intent...

First Deputy Prime Minister of Kazakhstan Roman Sklyar held a meeting with Chairman of the Supervisory Board of Polpharma Group Jerzy Starak. Polpharma Group is the largest pharmaceutical company operating in Kazakh and Polish markets.

During the meeting, the sides discussed implementation of the ongoing pharmaceutical projects and the company’s intent...

Regional News

01.11.2024

Experts count 2.7 million vacancies in Russian labour market

In the sectors of the Russian economy in which the so-called blue-collar workers (manual workers employed in industry) are concentrated, the number of unfilled vacancies is growing especially noticeably, experts from the Institute for Statistical Research and the Economics of Knowledge (ISREK) note HSE in an overview of the human...

In the sectors of the Russian economy in which the so-called blue-collar workers (manual workers employed in industry) are concentrated, the number of unfilled vacancies is growing especially noticeably, experts from the Institute for Statistical Research and the Economics of Knowledge (ISREK) note HSE in an overview of the human...

01.11.2024

Bears take over Russian market

The recent attempt by Russian indices to return to growth was not successful, the bears took over the market. Market sentiment worsened last night due to increased expectations of a rate hike by the Central Bank of Russia in December after the release of Rosstat inflation data. By 14:10 Moscow...

The recent attempt by Russian indices to return to growth was not successful, the bears took over the market. Market sentiment worsened last night due to increased expectations of a rate hike by the Central Bank of Russia in December after the release of Rosstat inflation data. By 14:10 Moscow...

01.11.2024

New issues of floaters in Russia contribute to diversification in large portfolios

The main issue that worries the market this week is the consequences of the accomplished increase in the key rate to 21%. This outcome was somewhat unexpected for market participants, who expected an increase of only up to 20%, and provoked a correction in both the stock and debt markets.

The...

The main issue that worries the market this week is the consequences of the accomplished increase in the key rate to 21%. This outcome was somewhat unexpected for market participants, who expected an increase of only up to 20%, and provoked a correction in both the stock and debt markets.

The...

01.11.2024

Russia reports on development of agro-industrial municipalities

The Government presented to the President the interim results of the implementation of the program Integrated Rural Development (KRST). 263 billion rouble were allocated for its financing in 2020-2024, and 108 billion rouble are planned to be provided in 2025. In general, the authorities consider the program effective: it allowed...

The Government presented to the President the interim results of the implementation of the program Integrated Rural Development (KRST). 263 billion rouble were allocated for its financing in 2020-2024, and 108 billion rouble are planned to be provided in 2025. In general, the authorities consider the program effective: it allowed...

01.11.2024

FESCO increases container traffic with India

FESCO Transport Group (parent company Far Eastern Shipping Company (Far Eastern Shipping Company) transported more than 11.5 thousand TEU between the ports of India and Novorossiysk in the first nine months of 2024 as part of the Fesco Indian Line West marine line, German Maslov, Vice President for the line...

FESCO Transport Group (parent company Far Eastern Shipping Company (Far Eastern Shipping Company) transported more than 11.5 thousand TEU between the ports of India and Novorossiysk in the first nine months of 2024 as part of the Fesco Indian Line West marine line, German Maslov, Vice President for the line...

01.11.2024

Humanitarian exchanges help Chinese residents to better understand Russia

This year marks the 75th anniversary of the establishment of diplomatic relations between China and Russia, with 2024-2025 also being declared the Years of Culture of China and Russia. As an important component of Sino-Russian relations, humanitarian exchanges continue to play an indispensable role in promoting mutual understanding between the...

This year marks the 75th anniversary of the establishment of diplomatic relations between China and Russia, with 2024-2025 also being declared the Years of Culture of China and Russia. As an important component of Sino-Russian relations, humanitarian exchanges continue to play an indispensable role in promoting mutual understanding between the...

01.11.2024

Trading on Chinese stock exchanges end with increase in quotations

Trading on Chinese stock exchanges ended today with an increase in quotations. The Shanghai Composite index, reflecting the situation on the Shanghai Stock Exchange, increased by 0.42%. compared with the results of the previous trading day, it amounted to 3279.82 points.

The Shenzhen Component indicator, which is an indicator of business...

Trading on Chinese stock exchanges ended today with an increase in quotations. The Shanghai Composite index, reflecting the situation on the Shanghai Stock Exchange, increased by 0.42%. compared with the results of the previous trading day, it amounted to 3279.82 points.

The Shenzhen Component indicator, which is an indicator of business...

01.11.2024

Purchasing Managers' Index in Chinese manufacturing sector returns to expansion range in October

The Purchasing Managers' Index (PMI) in China's manufacturing sector returned to the expansion range in October 2024 after declining for five consecutive months.

The purchasing managers' index in China's manufacturing sector in October amounted to 50.1, an increase from the September figure of 49.8, according to data published on Thursday by...

The Purchasing Managers' Index (PMI) in China's manufacturing sector returned to the expansion range in October 2024 after declining for five consecutive months.

The purchasing managers' index in China's manufacturing sector in October amounted to 50.1, an increase from the September figure of 49.8, according to data published on Thursday by...

01.11.2024

Purchasing Managers' Index in China's non-manufacturing sector reaches 50.2 in October

The Purchasing Managers' Index /PMI/ in China's non-manufacturing sector was 50.2 in October 2024, up from 50 in September. This is evidenced by official data published on Thursday.

Recall that the PMI index reflects the level of business activity of enterprises. An indicator above 50 indicates the expansion of the sector,...

The Purchasing Managers' Index /PMI/ in China's non-manufacturing sector was 50.2 in October 2024, up from 50 in September. This is evidenced by official data published on Thursday.

Recall that the PMI index reflects the level of business activity of enterprises. An indicator above 50 indicates the expansion of the sector,...

01.11.2024

More than 90% of companies with foreign capital in China satisfied with country's business environment

More than 90% of enterprises with foreign capital in China are satisfied with the country's business climate, according to the survey results published on Thursday.

A survey conducted in the third quarter of this year among more than 400 companies with foreign capital also shows that about 50% of respondents consider...

More than 90% of enterprises with foreign capital in China are satisfied with the country's business climate, according to the survey results published on Thursday.

A survey conducted in the third quarter of this year among more than 400 companies with foreign capital also shows that about 50% of respondents consider...

Prices and Statistics

01.11.2024

Commodities

Date: November 01, 2024; Source: Bloomberg.com

...

Date: November 01, 2024; Source: Bloomberg.com

...
01.11.2024

Exchange Rates

Date: November 01, 2024; Source: the National Bank of Kazakhstan
1 US DOLLAR USD / KZT 488.26
1 EURO EUR / KZT 530.54
1 RUSSIAN ROUBLE RUB / KZT 5.03
1 CHINESE YUAN CNY / KZT 68.59
1 KYRGYZIAN SOM KGS / KZT 5.69
1 GREAT BRITAIN POUND GBP / KZT 633.96
1 CANADIAN DOLLAR CAD / KZT 350.69
1 AUSTRALIAN DOLLAR AUD / KZT 320.49
...

Date: November 01, 2024; Source: the National Bank of Kazakhstan

1 US DOLLAR

USD / KZT

488.26

1 EURO

EUR / KZT

530.54

1 RUSSIAN ROUBLE

RUB / KZT

5.03

1 CHINESE YUAN

CNY / KZT

68.59

1 KYRGYZIAN SOM

KGS / KZT

5.69

1 GREAT BRITAIN POUND

GBP / KZT

633.96

1 CANADIAN DOLLAR

CAD / KZT

350.69

1 AUSTRALIAN DOLLAR

AUD / KZT

320.49