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Business & Economics, Kazakhstan


The capital of Kazakhstan has hosted a meeting of representatives of the National Managing Company “KazAgro” and ADB (Asian Development Bank). The parties expressed their readiness to expand cooperation in developing the agro-industrial complex of the republic. According to the press service of KazAgro, the meeting was attended by the Chairman of the Board of KazAgro, Nurlybek Malelov, and ADB Deputy President Divakar Gupta.


On June 23, the EBRD (European Bank for Reconstruction and Development) signed two agreements providing for loans to one of the commercial banks of Kazakhstan, KassaNova, and for micro-financing of the KMF organization, in the amount of $11 million each. These documents were signed by President of the EBRD Suma Chakrabarti; the Kazakh signatories were chairman of the board of KMF Shalkar Zhusupov and chairperson of the board of KassaNova Sholpan Nurumbetova.


Kazakhstan intends to build a gas power plant of a new type. This opportunity is currently being studied by the Eurasian Resource Group (ERG). The news was reported during a meeting of the Council of Foreign Investors by the chairman of the board of managers of this structure, Alexander Mashkevich, on June 22. “In terms of the prospects for waste-less production, we are currently conducting a research regarding the construction of an electric power station that uses ferro-alloy gas as a fuel, which is a by-product of the production of ferro-alloys,” he said.



President of Kazakhstan Nursultan Nazarbayev appealed to foreign investors with a proposal to consider the possibilities of investing in the exploration of lithium reserves in the territory of the republic and subsequent organization of its extraction. He voiced this while delivering a speech at the 30th regular plenary meeting of the Council of Foreign Investors. “Today, the world is actively developing technologies that use rare earth metals. As follows from the experts' assessment,, by 2025 the demand for lithium can grow threefold, or up to 550,000 tons per year.


By 2020, Kazakhstan plans to establish a facility for production of soda ash, which will ensure the supply of glass of Kazakhstan's own production. The project will be implemented in the territory of Kyzylorda Province within the framework of the second five-year period of industrial and innovative development (2015-2019).


The Ministry of Energy of Kazakhstan signed a memorandum of cooperation with the European Bank for Reconstruction and Development (EBRD), which provides support for the development of renewable energy sources (RES) in the country. This was reported by the press service of the ministry on June 21. According to this document, the EBRD plans to allocate up to $250 million for RES projects, with an additional attraction of $480 million from other international financial organizations.


In 2016, the total volume of electronic purchases in Kazakhstan was 98 percent, which exceeded the 2015 indicator by 26 percent. As a result, the conditional savings reached about KZT130 billion, which is significantly more that the 2015 savings (KZT43 billion). Finance Minister Bakhyt Sultanov voiced these figures during the regular meeting of the Government of Kazakhstan on June 20.



In 2016, the revenue part of the republican budget of Kazakhstan was KZT7.7 trillion, which exceeded the 2015 indicator by 24 percent. About KZT2.31 trillion (30 percent) of this amount accounted for the share of transfers. Finance Minister Bakhyt Sultanov voiced these figures while delivering a speech at the joint session of the chambers of the Kazakh parliament on June 19. According to him, the expenditure part of the 2016 budget was approximately KZT8.5 trillion.



On June 11-14, two events took place within the framework of the international exhibition EXPO 2017 held in Astana: the eighth international energy forum: “Pursuing the interests of sustainable development” and the ministerial conference “Ensuring Sustainable Energy Development.” They were participated by a total of over 1,000 experts representing over 50 countries of the world.


In the coming months, the issue of gasification of the city of Astana will be resolved. Mayor of the capital of Kazakhstan Aset Isekeshev gave this promise while delivering a speech at the session of the Astana Economic Forum titled “Sustainable and smart cities of the future.” The head of the city said, “We have come very close to making a decision regarding the gasification of Astana. Many economic issues have already been worked out, including logistics. The decision will be made in the near future, and we are expecting a positive result.