Kazakhstan Chamber of Commerce in the USA

KazCham


Delhi to host East Kazakhstan investment roadshow 0

Posted on February 06, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

The signature business-to-business event, which is expected to take India-Kazakhstan commercial ties forward, will be held next week at the Shangri-La Hotel. It is being organised by the Embassy of Kazakhstan and the government of the East Kazakhstan region in partnership with the Associated Chambers of Commerce and Industry of India.

The roadshow will feature presentations on East Kazakhstan, its potential investment climate and its most attractive business projects.

The Kazakh side will be represented by the Ambassador of Kazakhstan to India, Bulat Sarsenbayev, the first deputy governor of the East Kazakhstan region, Narymbet Saktaganov, the mayor of Semeysity, Salimov Yermak, and government and business representatives of East Kazakhstan.

In terms of industry and investment potential, East Kazakhstan provides a unique combination of industry and agriculture, thus ensuring food security and a significant contribution to the Kazakh economy. This agricultural industry is spread over six of the seven soil-climatic zones available.

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Kazakhstan may stop importing oil products 0

Posted on February 05, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

The President of Kazakhstan Nursultan Nazarbayev, speaking on 29 January at the XVII Extraordinary Congress of the Nur Otan Party, has announced the aim to fully meet the internal market’s demand for domestic oil products, including gasoline, diesel fuel, jet fuel and gas, by 2018.

Nazarbayev also said that oil production volumes in Kazakhstan will reach 92 million tonnes per year by 2021, with the figure currently standing at 79.5 million tonnes in 2015.

Kazakhstan has three major oil refineries – Atyrau, Shymkent and Pavlodar. All three plants are being modernized, which will provide the country’s domestic market with its own fuel and lubricants.

 

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Chinese companies to invest $1.74 billion in Kazakhstan’s organic foods industry 0

Posted on February 04, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

Chinese companies have agreed to invest $1.74 billion in Kazakhstan’s organic foods industry for products earmarked for export to China, according to the Kazakh Deputy Agriculture Minister Gulmira Isayeva.

“Today we start 19 agricultural projects with a total investment of $1.74 billion. Most of the projects are located in eastern Kazakhstan and the Almaty region,” said Isayeva after the signing of the so-called “Cooperation Plan” between Kazakh and Chinese companies.

Following the signing ceremony in Astana, the Kazakh Agriculture Minister Asylzhan Mamytbekov said that COFCO plans to build three plants for the processing of tomatoes and tomato paste, the Rifa Holding Group plans to build a meat processing plant with an annual capacity of 17 thousand tonnes of lamb and beef in the East Kazakhstan region, as well as to export meat to China and the Arab countries.

“We have a large and growing demand for organic agricultural products. Kazakhstan and China have a strong strategic partnership in this regard,” said China’s ambassador to Kazakhstan, Zhang Hanhuey.

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Kazakhstan-Iran business forum 0

Posted on February 01, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

The first major business event between Kazakhstan and Iran since the lifting of the sanctions against Iran is to be held between 6th and 8th February 2016. A Kazakh delegation headed by the Minister for Investment and Development, Asset Issekeshev, will visit Tehran for the meeting, which will focus on the development of Kazakhstan’s exports to Iran.

The sides will discuss the export of Kazakh-made products such as metal products, construction materials, pellets and corn to Iran.

Tehran will also host a trade mission, with meetings between buyers and sellers, according to the ministry. Representatives of more than 40 Kazakh enterprises and Iran’s 150 largest corporations will participate in the business forum.

During the visit, Issekeshev will also hold a number of meetings with officials, including the ministers of transport and agriculture, as well as with representatives of the business circles of Iran.

The development of Kazakh-Iranian cooperation in the transportation and logistics sector is predicted to be “the start of a new era” for the region, as the resulting rail routes will connect with other nations such as Iraq and Azerbaijan, enabling Kazakhstan to use Iranian territory to transport goods to other countries. Furthermore, the essence of this project is that Kazakhstan will be connected with the regions of the Caucasus and the Middle East.

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Kazakhstan’s Gambling Regions Add a Touch of Vegas to the Steppe 0

Posted on January 31, 2016 by KazCham

Astana Times

Kazakhstan has its own Las Vegas and Atlantic City for people who want to try their luck, spend an unusual weekend or just observe the dynamic world of casinos. The country’s two main gaming areas, Borovoe (in the Akmola region) and Kapchagai (in the Almaty region), may be far from their American counterparts geographically, but they promise to provide visitors with a high level of service.

“I really like spending one or two weekends a year in Borovoe playing in casinos. Of course, you have to think sensibly and rationally. For me, it is just a possibility to have a good time with my friends and sometimes a way to test my luck. I never spend more money than I can afford. And I feel like I am somewhere abroad, not in Kazakhstan. I have been in casinos in a few countries. I think the level here is quite good. Maybe it is not Las Vegas, but it is still okay,” said businessman Aslan Rakhimbayev in a recent interview for this story.

Gambling has been a topic of discussion for a long time. Casinos were formerly in cities, but have since been banned by law and moved to two specially-designated resort areas.

Cash Ville Casino is located in Borovoe’s Rixos Hotel. It is operated by East Casino Management Company, which also owns Astoria and Bombay casinos in Kapchagai. Cash Ville is one of the biggest and most luxurious casinos in Central Asia, according to boora.info, promising to Еprovide European-level service. It has 50 gaming tables, where visitors can play American roulette, black jack, baccarat and the most popular forms of poker. The hotel provides discounts for casino visitors.

Imperial-M, which opened in Borovoe in 2009, provides more than 20 gambling tables including American roulette, black jack and five types of poker. It also has in excess of 50 slot machines including electronic roulette and the latest games. The casino has the first and only license in Central and Northern Kazakhstan to operate a slot machine hall.

Lafayette, with its different types of gambling tables, is another destination for people who sometimes like to try their luck. According to boora.info, “Casino Lafayette is an atmospheric place with excellent background music, bar and restaurant. Refreshing or hot drinks, light cocktails or heavy alcohol will help you relax and relieve the tension of the game. It provides an opportunity to rest and the restaurant offers Japanese and Kazakh cuisine.”

There are several other casinos on the resort territory. Eurasia and Diamond may not be as large, but promise to provide good service and a good time.

Kapchagai resort has its own gaming activities, such as Bombay Casino. “This modern entertainment complex in the southern playing area of Kazakhstan meets all modern trends of comfort and quality. Impeccable service, reliability, comfort and individual approach to each guest is guaranteed in Bombay Casino. The Victorian-style unique interior creates an atmosphere of comfort and luxury,” its website says.

The Bellagio invites visitors “to plunge into the world of excitement, fun and passions in one of the most respected casinos in Kazakhstan.” According to its website, the casino “guarantees each visitor impeccable service and reliability, as well as an unforgettable stay in an atmosphere of luxury and comfort. Each room in the hotel is designed in classic style and has everything you need for a comfortable stay.”

The resort has many other casinos, such as Astoria, Macao, Monaco and Ritz Palace.

Kazakhstan has a special law “On gambling business” signed in April 2007. Online casinos are prohibited and the law restricts the amount of gaming equipment in casinos, which must have at least 20 tables and not less than 50 machines. Citizens under the age of 21 are not permitted in the casinos and the taxes for gambling places are high.

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Kazakhstan ratifies Asian Infrastructure Investment Bank agreement securing $729.3 million share 0

Posted on January 22, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

Kazakhstan’s senate has approved the Asian Infrastructure Investment Bank agreement that defines the country’s $729.3 million share in the bank’s capital, as many anticipate the AIIB becoming a rival to the World Bank and Asian Development Bank within the region. In Uzbekistan, $843.8 million from its Fund for Reconstruction and Development is set to be allocated to the implementation of 27 projects included in the 2016 state investment programme, and the country is also set to use over $4 billion in foreign investments in 2016, with the lion’s share of these funds allocated to the fuel and energy sector. Meanwhile in Iran, electricity generation projects worth $30 billion are due to the opened up to foreign investors.

 

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$30 billion expansion of oil production at Kazakhstan’s Tengiz field 0

Posted on January 19, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

The Kazakh Minister for the Economy, Yerbolat Dosayev, said on Monday that the preliminary cost of the expansion of oil production at the Tengiz field (second stage), a project that would increase the recoverable amount of hydrocarbons to 38 million tonnes per year by 2021, is estimated at $30 billion.

“There is a direct assignment of the head of state to accelerate the process of project implementation. That’s why we start the project in the spring of next year,” Dosayev said.

The Kazakh Minister for Energy, Vladimir Shkolnik, had earlier reported that a decision on the project to expand oil production at Tengiz would be made before the end of 2015. He stated that the basic requirement for the expansion project is to reduce the cost of its implementation.

Currently, the project partners are Chevron (50%), KazMunayGas (20%), ExxonMobil (25%), and LukArco (5%).

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Kazakhstan announces plans for two oil and gas fields 0

Posted on January 17, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

According to the Kazakh Ministry of Energy, Kazakhstan expects Russia to grant the subsoil use rights for the Caspian “Central” field in 2016, under previously established agreements.

The Central field is located within the Russian territory of the Caspian Sea, but its development must be conducted with the participation of Kazakh partners. It is estimated that reserves at the field total 169.1 million tonnes of equivalent fuel.

In October 2015, the presidents of Russia and Kazakhstan signed a protocol allowing the Russian government to issue a license for the geologic exploration and production of oil and gas at the Central field.

After obtaining the rights for subsoil use, Kazakhstan plans to carry out the design and survey work, as well as to assess the damage done to aquatic bio resources by engineering research at the field.

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Kazakhstan approves list of state companies offered for privatisation 0

Posted on January 14, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

The government of Kazakhstan has approved a list of state companies to be offered for privatisation as part of its long-term privatisation plan for 2016-2020.

The plan approves a list of large state-owned companies and organisations that will be privatised, and includes the pharmaceutical company SK-Pharmacy, national space company Kazakhstan Garysh Sapary, state road enterprise Kazakhavtodor, Khorgos international centre of cross-border cooperation, the airport of Astana, the Almaty sanatorium, the Kazakh national film studio, the airports of Kostanai and Petropavlovsk, the Korkyt Ata airport in Kyzylorda, and the Duman entertainment centre in Astana.

The list for priority privatisation also includes the national railway company Kazakhstan Temir Zholy (through IPO), national oil and gas company KazMunayGas (IPO), national atomic company Kazatomprom (IPO), national post service Kazpost (IPO), airlines Air Astana (IPO) and Qazaq Air, national telecommunications operator Kazakhtelecom, the airports of Aktobe, Atyrau and Pavlodar, the Aktau international seaport, and the national agricultural holding KazAgro.

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Kazakhstan to fund 2016 budget gap with $2 billion in ADB and World Bank loans 0

Posted on January 07, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

Kazakhstan plans to borrow $1 billion each from the Asian Development Bank (ADB) and the World Bank in order to finance its 2016 state budget deficit.

Kazakhstan’s parliament passed the budget last month, with an estimated deficit of 723.4 billion tenge ($2.2 billion).

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