Kazakhstan Chamber of Commerce in the USA

KazCham


Kazakhstan to stop regulating gasoline prices at the state level 0

Posted on December 11, 2016 by KazCham

Centil Law Firm BI@centil.law

The Kazakh government will terminate the state regulation of AI-80 gasoline prices starting from 2017, according to the Kazakh Energy Ministry. There are plans to lift the ban on the export of light oil products by 2019.

In August 2016, Kazakhstan stopped regulating diesel fuel prices, and stopped regulating AI-92/93 gasoline prices even earlier in September 2015. Due to the decision to deregulate the price of AI-92 gasoline and diesel fuel, the risk of the deficit of petroleum, oil and lubricants decreased to a minimum.

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Kazakhstan’s Zhambyl region plans to build a ski base to develop tourism 0

Posted on December 09, 2016 by KazCham

Centil Law Firm BI@centil.law

Kazakhstan’s southern Zhambyl region is planning to build a ski base and recreation centre. These projects will attract tourists to the region, said the Director of the Regional Chamber of Entrepreneurs Karlygash Aralbekova at the International Investment Forum “TARAZ INVEST-2016” on 25 November 2016.

Four tourism projects are included in the Regional Map of Business Development: the ‘Kazakh Auli Koksai’ recreational tourist base worth 935 million tenge, the ‘Apple Orchard’ recreational tourist centre worth 85 million tenge, as well as projects for the construction of roadside services in the Zhualynsk and Merke districts of the Zhambyl region, worth 402 and 700 million tenge respectively.

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Kazakh and Dutch companies to cooperate in agro production 0

Posted on December 08, 2016 by KazCham

Centil Law Firm BI@centil.law

Kazakhstan’s Holding Group Almex and the Netherlands’ Staay Food Group have signed a memorandum on developing projects in the agricultural and food industries and the joint venture Astana Fresh.

In the first phase, the parties will establish cooperation with local farmers by creating a distribution system of fresh fruit and vegetable products in Kazakhstan and neighbouring countries. This initiative will give further momentum to the existing support provided to local agricultural producers engaged in growing fruit and vegetables in greenhouses and on open ground. The parties hope that their joint company Astana Fresh will bridge the gap between farmers and the consumers of agricultural products.

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EIB provides €200m to support green projects in Kazakhstan 0

Posted on December 05, 2016 by KazCham

Centil Law Firm BI@centil.law

Long-term funding for SMEs in Kazakhstan and finance projects involving climate change adaptation and mitigation and environmental protection are set to be available as the European Investment Bank (EIB) signs two financing contracts for €150 million and €50 million.

The EIB funds will help to implement the “Concept for the Transition of the Republic of Kazakhstan to a Green Economy”, as climate action and environmental protection are Kazakhstan’s key policy objectives. This will contribute to the improvement of industrial competitiveness by fostering cleaner and greener production investments, renewable energy generation, resource efficiency and climate-resilient infrastructure projects.

The EIB is joining forces with a well-established partner, JSC DAMU Entrepreneurship Development Fund (DAMU), a state-owned development institution created by the government to support the development of Kazakhstan’s SME sector that will on-lend the EIB funds to selected financial intermediaries.

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Japanese steel plant launched in Kazakhstan 0

Posted on November 28, 2016 by KazCham

Centil Law Firm BI@centil.law

The Tokyo Rope Almaty plant launched in Almaty on 7 November 2016 will produce a variety of metal products, including heavy-duty grids for the further production of gabion systems used for the prevention and elimination of emergency situations.

The projected capacity of the plant is 5,000 tonnes of metal products per year during the first phase, a capacity that is set to increase. It is expected that the company’s output will not only be utilised in Kazakhstan, but will also be supplied to CIS states and other countries.

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Swiss businesspeople to invest in Kazakhstan 0

Posted on November 26, 2016 by KazCham

Centil Law Firm BI@centil.law

Swiss businesspeople have met with local counterparts in search of new cooperation options and discussed plans for expanding partnerships. In particular, foreign investors have proposed a number of interesting projects related to banking, transport logistics, construction, healthcare and tourism. They are interested in Kazakhstan because it provides them with a link to the Chinese market. From there, they are also ready to enter the Russian market.

One of the outcomes of these meetings has been the signing of a Memorandum of Understanding between the Kazakh Chamber of Commerce and the Chamber of Commerce Switzerland-Russia/CIS.

During the course of the negotiations, a Swiss construction company offered to build a brick factory in Kazakhstan. As noted by investors, a special combination of cement and wood will enable homes to retain heat better. One of the advantages of the project, according to business officials, is the low cost of products. In addition, there will be no need to import building materials from abroad.

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Saudi signs nuclear deal with Kazakhstan 0

Posted on November 24, 2016 by KazCham

Centil Law Firm BI@centil.law

Saudi Arabia and Kazakhstan have signed a nuclear deal as part of a new deal to improve bilateral relations between the two countries.

A cooperation agreement relating to the peaceful use of nuclear energy was signed by the president of King Abdullah City for Atomic and Renewable Energy, Dr Hashim Yamani, and Kazakhstan’s Minister for Energy, Kanat Bozumbayev.

Memorandums of understanding were also signed in the fields of agriculture, livestock, water, the extradition of wanted persons, and the transfer of prisoners.

Saudi Arabia is one of several Middle Eastern states looking into setting up a nuclear power programme. Although its nuclear programme is in its infancy, the Kingdom has plans to construct 16 nuclear power reactors over the next 20 years. A 2010 royal decree identified nuclear power as essential to help meet growing energy demand for both electricity generation and water desalination, while reducing reliance on depleting hydrocarbon resources.

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Kazakhstan to create a cargo airline 0

Posted on November 21, 2016 by KazCham

Centil Law Firm BI@centil.law

This task is assigned to the national carrier Air Astana together with the state logistics operator Kazakhstan Railway. According to the railway operator, the new cargo airline will begin flights in 2017, with China, Europe, Iran, Russia and Turkey among the first destinations.

Kazakhstan is now actively working on the development of freight hubs in the country’s airports. This year, the air hub of Karaganda was the first air harbour in Kazakhstan, which has been validated according to the requirements of European aviation authorities RA3.

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Kazakhstan opens first trade centre in Shanghai’s free trade zone 0

Posted on November 20, 2016 by KazCham

Centil Law Firm BI@centil.law

Kazakhstan’s first trade centre has opened in Shanghai’s free trade zone. The shopping centre will offer products manufactured in Kazakhstan only. This is a great opportunity for Kazakh entrepreneurs to enter the 30-million Shanghai market that is located next to the three provinces with a total population of 200 million people. For Chinese buyers, the centre provides better access to eco-friendly consumer products.

Kazakh producers are planning to sell fish, beef and mutton. China imports 7 million tonnes of meat every year, and Kazakhstan can meet some of this demand. The Chinese government will soon give permission for importing fish products from Kazakhstan and Kazakh producers will be assisted in selling their goods. Businesses will be assisted with paperwork and translations and will receive consultations.

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ADB to provide $200 million for SMEs in Kazakhstan 0

Posted on November 19, 2016 by KazCham

Centil Law Firm BI@centil.law

The Asian Development Bank (ADB) has approved a $200 million equivalent loan to provide much-needed financing in local currency to micro, small- and medium-sized enterprises (MSMEs) in Kazakhstan.

The loan will be channelled through the Damu Entrepreneurship Development Fund, a government-owned agency mandated to provide loans and guarantees to MSMEs through qualified microfinance organisations and local banks. The ADB loan will be provided in tenge to reduce currency-related risks for financial institutions and their borrowers.

In addition to the loan, the ADB will provide a technical assistance grant of $500,000, financed by the Government of Luxembourg through the Financial Sector Development Partnership Special Fund to help improve the credit risk management of selected financial institutions and expand financing opportunities for MSMEs.

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