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Central Asia Economic Outlook: May 2019 (1)

20 September 2019
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Kazakhstan

Macroeconomic

Kazakhstan attracts unprecedented amount of investments
Cost-effectiveness of Kazakhstan's businesses decreases
Voluntary super contributions in Kazakhstan decrease
Chinese company to invest $1.1 B in Kazakh car factory
Over half of direct investment profits fund Kazakh subsidiary companies
EBRD reveals forecasts for Kazakhstan's GDP growth
Kazakhstan's balance of payments becomes surplus in 1Q2019
Kazakhstan reduces exports
Kazakhstan, other EAEU states, Iran establish temporary free trade zone
EBRD talks on allocating loan to largest microfinance organization in Kazakhstan
Number of small enterprises increases in Kazakhstan
Prospects of Kazakh online trade outlined
GDP of Kazakhstan continues to increase
Trade turnover increases in Kazakhstan
Kazakh Ministry: Trade turnover of Turkic Council states must reach 10% of GDP
Kazakh people spend over $664M on communications

Finance & insurance

Kazakhstan banking sector's assets decrease
Kazakhstan's ForteBank to invest in local entrepreneurship
Paradox of dollar in Kazakhstan:it is leader in decline of purchases although most people buy it
Amount of average monthly salary in Kazakhstan increases by 10%
EBRD talks on allocating loan to largest microfinance organization in Kazakhstan
Net loss of Kazakh banks decreases
National currency deposits of Kazakhstan decrease
Kazakhstan received over million money transfers in 2019
Assets of Kazakh ForteBank increase
Income of insurance sector in Kazakhstan doubles
Average monthly nominal wage in Kazakhstan stands at $442
Kazakhstan spends a record breaking amount on defense
Over half of direct investment profits fund Kazakh subsidiary companies
Kazakh Deposit Insurance Fund to raise deposit rates
Kazakh real estate market prices for April 2019
Deposit rates increase in Kazakhstan
Managing Director of International Monetary Fund to visit Kazakhstan
Over 24,000 Kazakhs signed up for compulsory social health insurance
Kazakh people spend over $664M on communications
Kazakhstan's balance of payments becomes surplus in 1Q2019

Industry

Kazakhstan attracts over $5 billion into industrial development
Kazakhstan and Italy to cooperate in chemical industry
Kazakhstan plans to increase alumina export
Kazakhstan's first maritime feeder system launched on Caspian
Another factory to be built in Kazakhstan's Pavlodar
Kazakhstan looks to increase polyethylene recycling
Over $200M of construction materials manufactured in Kazakhstan
Uzbekistan invests in Kazakh plant
Kazakhstan to increase pasta manufacturing
Industrial production increases in Kazakhstan
Volume of ore extraction decreases in Kazakhstan

Foreign economic relations

Kazakhstan and Hungary look to modernize tax administration
Kazakhstan’s annual economy crediting exceed 10%
Kazakhstan to export locally manufactured toys
Kazakhstan and Italy to cooperate in chemical industry
What spheres of industry Kazakhstan and South Korea are to cooperate on?
China, Kazakhstan to increase trade turnover

Energy

Chinese Risen Energy talks benefits of financing new SPP in Kazakhstan with EBRD
Standard & Poor's releases report on KazTransGaz
Kazakhstan announces reasons for accident at oil-gas field in Mangistau region
Kazakhstan resumes transit of Turkmen gas to Russia
Kazakh oil decreases in price
Eni reveals equity output at Kazakhstan’s Karachaganak, Kashagan fields
Eni updates on construction of wind farm in Kazakhstan
Caspian Pipe Coatings increases oil transportation
Kazakhstan to develop alternative energy sources

Agriculture

Kazakhstan's BidaiCoin cryptocurrency - new solution for local farmers?
Kazakhstan increases volume of cereal cultivation
Kazakhstan to increase meat export to China
Four more Kazakh agricultural enterprises to supply products to China
International corporation to fund dev't Kazakhstan's fruit gardens

Transport

Cargo transportation decreases in Kazakhstan
Kazakhstan's first maritime feeder system launched on Caspian
Chinese company to invest $1.1 B in Kazakh car factory
KazTransCom, TransTelekom leaving TASIM project
A number of real estate transactions increases in Kazakhstan
Kazakh Ministry: Kazakh, Azerbaijani companies are key participants in Trans-Caspian corridor
Ministry: Trans-Caspian Corridor gives Kazakhstan access to European markets
Car manufacturing increases in Kazakhstan

Turkmenistan

Macroeconomic

Country director: ADB aims to contribute to increased exports in Turkmenistan (Exclusive)
Turkmenistan exploring Russia’s experience in creating e-gov’t
Turkmenistan renewing customs procedures for export-oriented goods
Turkmenistan holds briefing on 1st Caspian Economic Forum in Uzbekistan
WB reveals timeframe for closing technical assistance project in Turkmenistan
Turkmenistan's GDP significantly grows in early 2019
Turkmenistan holds briefing on 1st Caspian Economic Forum in Uzbekistan
Turkmenistan focuses on achievement of SDGs in economy, ecology and social sphere
Turkmenistan prepares draft state budget and investment programs
EBRD reveals Turkmen GDP forecast
EBRD honors greenhouse project in Turkmenistan with gold award
Kyrgyzstan ratifies agreement with Turkmenistan on elimination of double taxation

Industry

Turkmenistan masters production of electrical lighting appliances
Turkmenistan aims at industrial production of synthetic rubber
Uzbek company launches production of carbon steel wire with Chinese technology
Turkmenistan aims to increase exports of polymer products
Production of mineral fertilizers growing in Turkmenistan
Turkmenistan plans to export digital measuring equipment
Turkmenistan expands glass product range

Foreign economic relations

Turkmenistan, Tunisia expanding business partnership
Turkmenistan, Qatar mull prospects for trade & economic partnership
Turkmenistan notes potential for development of bilateral relations with Ukraine
Turkmenistan ready for further mutually beneficial cooperation with Japan
Turkmenistan, US mull joint efforts to resolve situation in Afghanistan
Turkmenistan approves its reps in economic intergovernmental commission with Russia
Turkmen-Russian high-level negotiations held in Ashgabat
Turkmenistan, Kyrgyzstan discuss expanding trade, economic and investment co-op
Turkmenistan, Romania mull business partnership prospects
Ashgabat, Moscow mull joint economic projects
Turkmenistan approves Turkmen membership of Turkmen-Japanese Committee
Turkmenistan appoints ambassadors to Greece and Croatia
Turkey-Turkmenistan trade turnover down

Energy

Kyrgyzstan counting on receiving Turkmen gas from future pipeline to China
Testing held at new gas chemical complex in Turkmenistan
Reports on TAPI gas pipeline project to be delivered at congress in Turkmenistan’s Avaza
Turkmenistan upgrading energy infrastructure of northern region
Japanese companies active in fuel and energy sector of Turkmenistan
Amount of Turkmenistan's exports of oil products disclosed
UAE, Singapore, Turkey buy oil and gas processing products from Turkmenistan

Agriculture

Turkmenistan, Russia to sign contract in agriculture
Turkmen president instructs to accelerate sowing of raw cotton
Turkmenistan discloses sugar beet harvest plans
Rice sowing begins in northern Turkmenistan

Transport

Turkmenistan presents potential of its Caspian port to Saudi Arabia
Georgia discusses transit project in Turkmenistan
ADB assists Turkmenistan to help develop sections of CAREC corridors: county director (Exclusive)
Turkmenistan Airlines to resume flights to EU in June
Turkmenistan modernizes "Balkan" dry cargo ship

Uzbekistan

Macroeconomic

Prices for fruits, vegetables in Uzbekistan increases by over 20.5%
Uzbekistan to start supplying fruits, vegetables to largest trade network in Russia
Uzbek, Russian Foreign Ministers exchange views on socio-economic rehabilitation of Afghanistan
Turkmenistan holds briefing on 1st Caspian Economic Forum in Uzbekistan
Green energy consumers in Uzbekistan to get tax privileges
Uzbekistan complies with 23 of 36 principles of IMF fiscal transparency
Uzbek authorities to enter into PPP agreements with investors for up to 49 years
Fergana region of Uzbekistan plans to use $2.5 B in direct investments
Uzbekistan implements 140 foreign projects worth $3.2B
Fitch affirms Uzbekistan at 'BB-'; Outlook Stable
EBRD to allocate Uzbekistan loan of $60 M
Number of enterprises with foreign capital in Uzbekistan almost doubles

Finance & insurance

S&P raises rating of Uzbek bank
Uzbekistan sells state-owned shares in industrial enterprises and financial structures
Uzbekistan introduces contactless payment card
Amount of transactions through clearing settlement in Uzbekistan increases by 1.7 times
Largest volume of exchange trades in Uzbekistan - in banking sector
IMF encourages Uzbekistan to contain credit growth
Largest volume of exchange trades in Uzbekistan - in banking sector
Visa company to contribute to introduction of new digital payment products in Uzbekistan
70 M outlets worldwide to start accepting Uzbek Humo International Card
ADB to allocate $200M to Uzbekistan to create long-term mortgage system

Industry

Japan Tobacco International opens third production line in Uzbekistan
Uzbek company launches production of carbon steel wire with Chinese technology
Uzbekistan, China implement project in coal industry
Uzbekistan to start treating jewelry industry seriously
Uzbekistan may cancel import benefits on cement
Italian textile company plans to launch its production in Uzbekistan
Malaysia company may manufacture electrical products in Uzbekistan
Chinese company to build cement plant in Uzbekistan
Uzbekistan to double production of building materials

Foreign economic relations

Uzbekistan to establish new plant in co-op with Belarus, Austria
Uzbekistan, France develop bilateral international communications
Malaysian company may import fruits, vegetables from Uzbekistan
Trade turnover of Uzbekistan, Russia increasing steadily
Uzbekistan, Italy to implement joint projects for $300 M

Energy

New gas chemical complex to appear in Uzbekistan
Stone City Energy to make large investments in Uzbekistan
Kyrgyzstan sells electricity to Uzbekistan cheaper than to its citizens
Uzbek Energy Ministry talks on Power Uzbekistan international forum with Azerbaijan’s participation (Exclusive)
Uzbekistan, UAE may implement projects for construction of chemical enterprises
Qatari company, Uzbekistan may co-op in creation of logistics centers in oil&gas sector
Uzbekneftegaz intends to find contractor for modernization of Bukhara refinery
First oil produced at Mingbulak field of Uzbekistan
Largest Italian oil, gas company intends to enter Uzbek market

Agriculture

Uzbekistan publishes data on fishing for 1Q2019
German company plans to import agricultural products from Uzbekistan
Uzbekistan expands co-op with US in agricultural sector
Uzbekistan to begin supplying agricultural products to China

Transport

Uzbek airline performs its first flight Tashkent-Jakarta
Uzbek Automobile Plant increases range of exported vehicles to Afghanistan
Uzbekistan, Hyundai to build plant with capacity of 10,000 electric vehicles per year
ADB allocates $170 M to Uzbekistan for purchase of locomotives
Uzbekistan to acquire two more high-speed Talgo trains
Uzbekistan began to use the Trans-Caspian route for export