Kazakhstan Chamber of Commerce in the USA


Hyatt Regency Hotel to be built in Almaty 0

Posted on May 25, 2014 by KazCham

The Wall Street Journal

Hyatt Hotel Corporation has entered into an agreement with Tavros Investment Holding to build a Hyatt Regency hotel in Almaty, Kazakhstan. Expected to open in 2017, Hyatt Regency Almaty will be located in the city center between Satpev Avenue and the Esentai River. The hotel will offer easy access to Almaty International Airport, the business district and the Kazakhstan Stock Exchange.

The 270-room hotel, which will include more than 40 suites, 3 restaurants, a spa, meeting facilities and a ballroom, is aimed to connect with both business and leisure travelers in the region.

Tayfun Doskaya, President and CEO of Tavros investment holding said in the announcement that, “Almaty’s growing economy provides an opportunity to introduce a globally recognized brand that will resonate with the burgeoning base of business and leisure travelers.”

The History of the Silk Road 0

Posted on March 14, 2011 by KazCham
Location Almaty, Kazakhstan
Dates June 3 – July 1
Credits Offered HIST 341.32 – 3 CREDITS (CUNY tuition is not included in program fee)
Application Deadline Students applying for STOCS: March 14.
Other applicants: March 25.
Financial Aid TAP, PELL, GILMAN, STOCS, student loans
Program Fee $835 (estimate) includes housing, cultural activities, field trips, some local transportation and health insurance. Airfare not included.
Payment Schedule $350 due with application. Remaining balance due by April 29. All payments by certified checks or money orders (no personal checks or credit cards).

Program Description
This course surveys the history of cultural and economic exchanges of the Silk Road with focus on the history of Central Asia. The Silk Road connected China with eastern and western Europe for nearly two millennia, as innumerable caravans moved goods, ideas, cultures, traders, explorers, scholars and adventurers  across the Eurasian land mass.

The course begins with a review of the formation of two distinct social and economic systems in the region – nomadic and settled – the context of debates on the nature of the nomadic world and its contribution into the interactions between the Central Asian region and outside world. Then, it discusses the emergence of local, regional and international exchanges and trades in the region. It also assesses the legacy of the nomadic world empires (Turkic and Mongol) and the history of trade, cultural and religious exchanges along the Great Silk Road and emergence of such trade centers as Kashgar, Otrar, Bukhara, and Samarkand. It continues with the discussions of the economic, political and military decline of the region and offers a comparative discussion of the marine and land routes between China and Western Europe.

Further, the course provides a careful examination of Tsarist Russia’s attempt to revive trade along some parts of the Silk Road and the controversial nature of the competition for influence in greater Central Asian between Russian and British empires. In the conclusion, it assesses numerous attempts to revive the trade along ancient Silk Road, which were frequently discussed since 1991.

The readings, excursions and discussions are designed to explore the mysteries of the Silk Road including: who were those traders and explorers? Why people used this Road? What was the role of the nomads and settlers of Central Asia in this early global trade?

Seminars and lectures will consist of the following and/or similar topics:
Land and economic development
Economy and education
Social structure
Traditional folk music
Change and continuity
Energy and international trade
International war on terrorism

Cultural, historical and social activities:
Sightseeing – KazNU campus and the immediate environs
Visit of the national Historical Museum
Trip to the medieval City of Turkistan
Visit of an oriental bazaar
National Philharmonic (TBC)
Visit of the Central Asian Geographic Society

NOTE: Before the program starts, students will have to prepare summaries of the following readings:

  • Marco Polo. The Travels of Marco Polo (any editions)
  • Abazov, Rafis. The Culture and Customs of the Central Asian Republics

These summaries must identify the most significant cultural, political, economic and technological forces that contributed to the rise of the Silk Road. They will be due May 15, 2011. The summaries should be 1000 words long.

Academic Inquiries
Rafis Abazov, Dept. of History
E-mail: ra2044@columbia.edu

Administrative Inquiries
Education Abroad Office E1447
Monday – Friday 9:30 am – 5:30pm
Phone: (212) 772-4983
Fax: (212) 772-5005
E-Mail: edabroad@hunter.cuny.edu

Central Asia Mining Congress 0

Posted on April 27, 2010 by Sergey Sek

The new mining investment landscape – Where are the opportunities in Central Asia’s mining sector?
Central Asia Mining Congress is back for its third year as the only mining focused investment platform that congregates the major stakeholders in the region’s mining sector, covering all key countries in the Eurasia region including Kazakhstan, Kyrgyzstan, Uzbekistan, Tajikistan, Turkmenistan, Georgia and Mongolia.

With the global economy on its road to recovery and investors’ appetite returning, there has never been a better time for companies to seek out profitable mining assets in the region. In close proximity to China and India, Central Asia is a strategic hotspot where the needs of the world’s largest commodity buyers are met.

Do not miss this chance to gain access to a large gathering of major and junior miners, private and institutional investors, fund managers, financiers and policy regulators who have a stake in the region’s mining sector. With an impressive lineup of speakers in 2010 and a proven successful track record, Central Asia Mining Congress is the place you need to be at to secure new mining partnership and investment deals.

Please contact Marife Austria Agrimano for special discount for KazCham members and partners.

KazCham representatives on MINEX and KazRefinEx 0

Posted on April 03, 2010 by Sergey Sek

Sergey Sek, Business Development of KazCham attended Minex Central Asia 2010 in Astana, Republic of Kazakhstan on 16-18 March and KazRefinEx 5th Annual International Symposium and Exhibition on Refining and Petrochemistry on 25 – 26 March.

MINEX can be described as a post-crisis mining and exploration event for Central Asian Mining Industry. The forum’s main objective was to highlight current state and midterm perspectives for mining and exploration in Kazakhstan and Central Asian states recovering from the effects of the global economic crisis. According to the feedback received from the forum participants Minex Central Asia has become a significant international business, know-how and investment platform for Kazakhstan and Central Asia.

The three day agenda of the pre-forum master classes and the main forum featured over 60 speaker presentations of the leading mining companies, the Ministry of Industry and New Technologies of Kazakhstan, the National Welfare Fund “Samruk Kazyna”, The state geological and subsoil use Committee of Kazakhstan, international investment banks, Stock Exchanges, Mining and Financial consulting firms, etc. Despite turbulent weather conditions the forum brought together over 400 delegates from 150 companies and foreign missions from Kazakhstan, Kyrgyzstan, Uzbekistan, Mongolia, Japan, China, Russia, Ukraine, United Kingdom, USA, Canada, Australia, Germany, France, Switzerland, Belgium, India and the Netherland.

KazRefinEx gathered key branch experts from Kazakhstan, Europe and Central Asia in Almaty, to give the audience an opportunity to receive information about the prospects of deep processing of hydrocarbon raw materials and implementing specific breakthrough investment projects in the petrochemical industry at the level of the world economy for the coming year, as they say, “first hand”.

Today, the Kazakhstan oil and gas industry faces several key challenges in Kazakhstan, including the provision of deep processing of hydrocarbon raw materials, development of petrochemical industries. Currently, the Fund Samruk-Kazyna considered 31 projects in various spheres of the economy of the republic. The total cost of these projects amounts to more than $ 23 billion, of which the sphere of oil refining and petrochemicals will be about 11 billion U.S. dollars, including the reconstruction projects is upgrading three refineries of the country.

Foreign banks 0

Posted on March 22, 2010 by KazCham

WITH THE BENEFIT of hindsight, the timing of the  first major foray by foreign banks into the domestic  banking market could hardly have been worse. But  from a long-term perspective, the decision of Italy’s  UniCredit and South Korea’s Kookmin Bank to  pay $2.3 billion and $1 billion respectively for ATF  and BankCentreCredit (BCC) just before the global  financial crisis erupted in the summer of 2007 could h well turn out to be prescient once Kazakhstan and Central Asia return to the path of rapid growth.

For UniCredit, the move into Central Asia’s richest h and most dynamic economy was an extension of its  previous foray into Central Europe as the acquisitive  Italian bank looked to diversify beyond slow-growing western European markets. For Kookmin, expansion  into resource-rich Kazakhstan reflected both  expectations of faster growth than Korea itself and  a chance to position itself for an expected influx of  South Korean investment in energy and commodity projects – including nuclear. In May 2009, Kookmin’s  chairman was a prominent member of a South Korean business delegation which earmarked projects worth $5 billion for investment by Korean companies  and banks.

“We strongly believe that a strategic partnership  will bring us competitive advantages and make it  easier to deal with any financial wobbles,” says Timur  Ishmuratov, managing director of BCC’s international  department. “Kookmin, like our bank, has a focus  on the retail and SME [small- and medium-sized  enterprises] market. It offers some very good products,  based on sophisticated IT infrastructure, which could  potentially be very good for our clients, too.”

Kazakh banks grew by focusing on corporate  finance and the construction sector. In both cases,  personal contacts were often key to business. While  local banks were active in the corporate market, their  understanding and penetration of the retail market,  especially mortgage lending, was low. Just as they  were developing expertise in these areas, retail and  mortgage lending became the first casualties of the  sub-prime crisis.

Some foreign banks spotted the opportunity to  expand, while local banks pulled back to focus on  repaying debts. HSBC, for example, one of several  foreign banks working in Kazakhastan for more  than a decade, recently decided to open several  new branches and make an additional $100 million  available for mortgage finances

Before the entry of UniCredit and Kookmin into  mainstream banking, most foreign banks, including Citibank and ABN-Ambro, concentrated on servicing the Kazakh subsidiaries of international companies  and expats and facilitating foreign borrowing for  Kazakh banks and companies. ABN was acquired  by Royal Bank of Scotland and its former Kazakh  subsidiary is now looking for a new owner following the virtual nationalisation of RBS itself in the UK  banking meltdown.

Before the global crisis brought banking back  to Earth, dozens of foreign banks were seeking to  get a foothold in the market by buying a Kazakh  bank. But prices were sky high and several potential  foreign buyers, such as Austria’s Raiffeisen, which  first sought to buy BTA several years ago, were unable to find suitable acquisition targets at an acceptable  price. “We observed the market but the prices did  not reflect the environment and potential risks, so  we decided to start from scratch,” a bank spokesman  said. The alternative plan to start a greenfleld bank is  currently on hold.

Now may be a good time for potential buyers  to look again, however. While the government is  focused on finding a new foreign owner for BTA, new  regulations setting a tenge 5 billion ($3.5 million)  minimum capital requirement for Kazakh banks  come into force in July, putting pressure on smaller  banks to consolidate or put themselves up for sale.  International Bank of Alma ty, with a capital of just  tenge 1.5 billion, was recently taken over, for example,  and is now being re-branded as Home Credit.

Ironically, just as Kazakh banks have become open  to takeover and more attractively priced, most foreign banks have drastically scaled back their expansion  plans. “Without the international crisis I would say  that we could expect more investment in Kazakhstan, h because prices are now optimal,” says Alexander  Picker, the Austrian president of ATF Bank. “But,  while any bank not looking to expand in Central and  Eastern Europe used to get a bad mark from analysts,  now it’s the opposite. I don’t know how many banks  will be brave enough to see the potential and act. It  depends very much on the bravery and anti-cyclical  ideas of boardrooms – many of which are in survival  mode at present.”

Several investment banks, including JP Morgan,  which has an important advisory role with Kazakhmys h and other big corporates, and Deutsche Bank, have  recently set up representative offices in Almaty,  to show the flag and be ready for more ambitious  moves, when the time is right. There is currently high  demand for advisory services – with UBS and Goldman h Sachs, for example, recently taken on as advisers to the government on settling the future of BTA.

Russian banks are also stepping up their presence. Sberbank, currently eyeing up BTA, leads the pack  while VTB, Russia’s former foreign trade bank, has  pared down its expansion plans for the CIS generally to concentrate on what it sees as the most attractive  markets – Kazakhstan and Azerbaijani

On the investment banking side, Russia’s Troika  followed Renaissance Capital into Kazakhstan  last year through the acquisition of local asset  management house Almex, and there is also  interest from further afield. Israel’s Bank Hapoalim,  for example, completed its acquisition of Demir Kazakhstan Bank (since re-branded Bank Pozitiv) in  November 2007, and Bank of Tokyo Mitsubishi is due -to set up a representative office in early 2009, with  the initial aim of serving Japanese companies.

Invest in Kazakhstan An official publication of the Government of the Republic of Kazakhstan, 2009. Page: 84-86.

KazRefinEx 2010 0

Posted on February 22, 2010 by Sergey Sek

The 5th Annual International Symposium and Exhibition on Refining and Petrochemistry
25 – 26 March 2010 | Rixos Almaty Hotel | Almaty | Kazakhstan
I would like to take this opportunity to invite oil and gas processing suppliers to participate at KazRefinEx 2010: 5th International Symposium, Exhibition and Award for the refining and petrochemical industry in Kazakhstan, under a new format and new brand, ‘KazRefinEx’ which will be held on the 25 – 26 March 2010 in Almaty.

The latest Kazakhstan Oil & Gas Report from BMI forecasts that the country will account for 4.75% of Central and Eastern European (CEE) regional oil demand by 2014, while providing 16.18% of supply.

Caspian Business Events are currently offering a special 20% discounted rate on a place at KazRefinEx 2010 for Kazakhstan Chamber of Commerce members. There are a limited number of spaces available so make sure you act today to secure your place.

KazRefinEx 2010 in Almaty provides you with an ideal opportunity to increase your company’s profile within the market as well as providing you with the opportunity to network with a highly focused audience. As an attendee your company brand and profile will be associated with the some of the largest refining and petrochemistry community gatherings in the Kazakhstan.

If you would like to find out more about presenting a paper or information how to register as delegate, please contact us by email: enquiry@caspian-events.com quoting reference ‘KRE10KAZCHAM’ to take advantage of this special offer. Please note this offer is only available until the 24th February. For more information, please visit www.caspian-events.com

Chamber of Commerce and Industry of the Republic of Kazakhstan in the USA 9

Posted on January 05, 2010 by Sergey Sek

We are proud to announce the opening of an official representative office of the Chamber of Commerce and Industry of the Republic of Kazakhstan in the USA (“KazCham”).

Chambers of commerce have traditionally been the associations of enterprises engaged in trade, manufacturing and services. The predecessors of the medieval guild houses were merchants and artisans. The overall objective of the chambers around the world – protecting the interests of business and promoting their development.

Kazakhstan Chamber of Commerce and Industry (“Chamber”) was established in 1959 by decree of the Council of Ministers of the Kazakh Soviet Republic.

The Chamber represents interests of the Kazakhstani business community and provides a set of essential business services. The Chamber serves as the social and economic partner for small and medium-sized businesses in the dialogue with government, big business, as well as partners in foreign trade activities. The Chamber has signed over 70 cooperation agreements with foreign countries: Italy, UAE, Russian Federation, India, Turkey, Jordan, Syria, South Africa, Egypt, etc.

Each year, the Chamber, which has 16 regional chambers, provides 70 thousand services. Included are a number of expert and inspection services, consultations on foreign trade activities, assessment services for the customs value of goods, confirmation of documents on foreign trade transactions, the consideration of disputes arising between the partners.

When conducting business forums in Kazakhstan and abroad, visiting foreign markets as part of trade missions is a proven and cost-effective way to grow your business. A business visit, professionally planned and managed by Chamber specialists, allows one to achieve results much more efficiently than a few self-organized trips.

The practice shows that the majority of business contacts, organized and implemented by the Chamber, are effective.

Membership in the Chamber is voluntary.

After decades of hard work, the Chamber gained tremendous experience and serves for the benefits of your business.

In 2009 the Chamber of Commerce of the Republic of Kazakhstan celebrates its 50th anniversary.

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