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Business & Economics


Turkmenistan has begun this year's harvest campaign in Balkan, Akhal, Mary and Lebap provinces of the country. According to the forecast, not less than 1.6 million tons of grain will be harvested from 760,000 hectares of winter crops. Of this volume, it is planned to harvest 450,000 tons in Akhal Province, 380,000 tons in Mary Province, 350,000 tons in Lebap Province, 300,000 tons in Dashoguz Province and 120,000 tons in Balkan Province.



Kazakhstan and China plan to jointly implement 22 investment projects, the total cost of which is about $7 billion. The Kazakh mass media reported the news following the results of the fourth meeting of the Sino-Kazakhstan Business Council on June 8. The main projects include the framework agreement on the provision of a credit line of up to $3 billion by the State Development Bank of China to the company Samruk-Kazyna on preferential terms. These funds will be used mainly to refinance previous loans and to finance the working capital of the Kazakh concern.



Russian “Sberbank” has signed an agreement with the Kazakh company “NeftPromSnab” on the opening of a credit line in the amount of KZT95 million. These funds will be used to purchase the equipment necessary for the production of fiberglass pipes that are used in the engineering, construction and oil and gas industries. After the launch of the enterprise, its annual design capacity will be 120,000 linear meters of pipes. This project will also create new jobs, which will have a positive impact on the social and economic development of the region.



On June 3-4, the Turkmen capital hosted the international exhibition “Turkmen Textile 2017.” It included 56 expositions of various types of textile products. This event was timed to coincide with the Day of Textile Industry Workers of Turkmenistan. Its participants were 26 enterprises that are part of the structure of the Ministry of Textile Industry. In addition, 67 foreign companies represented their expositions, including such well-known ones as Thies, Trützschler and Saurer Schlafhorst (Germany), Bezema and Rieter (Switzerland), Savio and Marzoli (Italy).


At the beginning of June, the National Bank of Kazakhstan published another forecast for development of the republic's economy in the medium-term period: Q2 2017 – Q4 2018. According to experts of the country's main financial structure, the inflation will continue the downward trend in annual terms until the end of 2018. “This will be contributed to by the stabilization of inflationary expectations and the predictable situation in the domestic monetary markets,” the National Bank's forecast reads.



Kazakhstan and China have reached an agreement on the supply of 5 billion cubic meters of Kazakh gas to China in 2017 and 2018. The press service of the joint-stock company “KazTransGas” reported the news on June 7. The parties signed the agreement during the Astana-based meeting of the leaders of the Kazakh national company “KazMunayGas” and the state Chinese company CNPC. The meeting participants also discussed the issues related to the interaction of the main oil and gas companies of the two countries in the sphere of exports of Kazakh gas.



A new innovative technopark “Yashnabad” will be created in the capital of Uzbekistan, in accordance with the decree of President Shavkat Mirziyoyev. According to the press service of the head of state, the objectives of this technology park are to form a favorable environment for development of high technology, to ensure the sustainable development of innovative, scientific and technological entrepreneurship, and to establish innovative small-scale enterprises.


President Shavkat Mirziyoyev has approved the program for development of Uzbekistan's automobile industry in the period 2017-2021. As reported by the local mass media, the relevant resolution envisages that the production of cars in the country will increase threefold in five years, and the share of imports will decrease by 12.5 percent. In addition, the number of employees at automotive enterprises will grow by 1.2 times. Within the framework of the program, several dozens of new investment projects will be implemented. Their total value will exceed $800 million.



On June 6, the meeting of the Government of Kazakhstan discussed the issues related to the current state and prospects for the further development of special industrial and economic zones located in the territory of the republic. According to the report of Minister for Investments and Development Zhenis Kasymbek, the concept of a new unified law of Kazakhstan on special industrial and economic zones has already been developed. Currently, it's undergoing the procedure of preliminary approval by state bodies. By the end of June, the concept will be agreed by the Ministry of Justice.


In 2017-2025, the government of Uzbekistan intends to attract foreign loans totaling over one billion dollars for development of the national hydropower industry. The relevant presidential decree of Shavkat Mirziyoyev approves the program of measures for development of hydropower in the republic for the period 2017-2025. In accordance with this document, it is planned to build a total of 18 hydroelectric power stations, and to modernize 14 such stations. The total cost of all these works will be $2.65 billion.