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Central Asia Economic Outlook: August 2019 (2)

7 December 2019
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Kazakhstan

Macroeconomic

Kazakhstan increases trade with non-EAEU countries by nearly 30%
Kazakhstan sees GDP increase
Kazakhstan and Latvia significantly increase mutual trade
Ministry talks main activities to digitalize economy of Kazakhstan
Kazakhstan sees trade turnover decrease with EAEU partners
Projects worth over $900M to be implemented in Kazakhstan
Pension savings up in Kazakhstan
Kazakhstan increases retail trade by over 5%
Amendments to constitutional law made in Kazakhstan to attract investments
Measures to stabilize food products prices approved in Kazakhstan
Fitch Ratings assigns new rating to Kazakhstan's Samruk-Kazyna Construction JSC
Kazakhstan's trade turnover with EAEU countries decreases
Digital Silk Way is key to prompt digitalization of Kazakhstan’s economy
Kazakhstan bans export of timber
When tenge's devaluation may affect Kazakhstan's economy?
EDB and Kazakhstan Project Preparation Fund agree on implementation of joint projects
Kazakhstan to further develop artificial intelligence technologies
Investment projects for import substitution to be implemented in Kazakhstan
What measures by Kazakhstan's government will attract foreign investors?
Tax debts worth over $2M paid in Kazakhstan
Spheres of interest for cooperation of European business with Kazakhstan revealed
Azerbaijan invests over $70 million in West regions of Kazakhstan
Russia’s Research and Production Corporation to supply freight wagons to Kazakhstan
Kazakhstan approves action plan for creation of quality and safe products
Leading Kazakhstan region by investments attraction named
Nearly $80M to be allocated for entrepreneurship development in major Kazakh city

Finance & insurance

Kazakh tenge strengthens against US dollar following significant drop
Loans to physical persons increase in Kazakhstan
National Bank of Kazakhstan returns investments in International Bank of Azerbaijan's securities
Real amount of problem loans in Kazakhstan is no less than 20% of gross loans
Almaty leading by current accounts value in Kazakhstan
Deposits value slightly up in Kazakhstan
Reserve money of Kazakhstan up by over 10%
Kazakhstan to decrease budget deficit to 1.5 percent of GDP
Fines and penalties for loans on nearly two million borrowers written off in Kazakhstan
Money transfers from Kazakhstan increase by more than 17%
Interest rate on loans to be subsidized in Kazakhstan's Almaty

Industry

Kazakhstan significantly increases export of mineral products
Projects in mining-metallurgical complex discussed in Kazakhstan
Initiative to support resource-saving projects launched in Kazakhstan
Exploration work on gold underway in Kazakhstan
Kazakhstan to implement projects for further industrial and innovative development
Light industry manufacturing increases by nearly 15% in Kazakhstan
Kazakhstan to use coal in a new way
Value of chemical industry more than triples in Kazakhstan
New industrialization areas determined in Kazakhstan
One of Kazakhstan's industrial regions increases ore production
Major company of Kazakhstan to increase glass manufacturing
Nearly 30 industrialization projects to be implemented in Kazakhstan's Kyzylorda
Kazakhstan approves measures for light industry development

Foreign economic relations

Prioritized areas of Latvian cooperation with Kazakhstan revealed
Kazakhstan interested in strengthening cooperation on artificial intelligence with Germany
Uzbekistan, Kazakhstan may create Central Asian Schengen
Issues on strengthening strategic cooperation with EU discussed in Kazakhstan
Kazakhstan slightly decreases export to non-EAEU countries
Turkey-Kazakhstan trade falls by almost $20M
Mutual trade between Kazakhstan, Germany exceeds $5B
Belarusian machinery assembling to be launched in Kazakhstan
Trade between US, Kazakhstan up by 31.8%
Spheres of interest for cooperation of European business with Kazakhstan revealed
Over 200 projects approved in Kazakhstan's Turkestan
Kazakhstan, Turkmenistan discuss co-op in wide range of spheres
Kazakhstan to not introduce complete ban on livestock export due to demand from Uzbekistan
Kazakhstan and Germany to develop a roadmap for expansion of investment cooperation
Kazakhstan and United Arab Emirates talk space exploration development
Russian online retailer to help Kazakh exporters enter international markets
Kazakhstan appoints ambassador to Turkmenistan
Slovakia interested in increasing number of JVs with Kazakhstan
German investments in Kazakhstan exceed $4B
About 50 Turkmen, Kazakh companies registered in Turkey in January-July
Saudi investment company interested in Kazakhstan's import
Estonian businessmen to implement a number of projects in Kazakhstan
Slovakia interested in increasing number of JVs with Kazakhstan
Slovakia to concentrate activities in Kazakhstan in ​​environmental protection
Sberbank Kazakhstan funds project for increase of furniture, trucks production

Energy

Major Kazakh oil and gas company approves roadmap for digital transformation
CPC to expand capacity to over 80 million tons of oil
JV of KazTransGas attracts loan from international banks
Oil extraction to decrease in Kazakhstan
Construction of pipeline to supply Kazakh regions with gas continues
Kazakhstan's regions leading by renewable energy production named
Main drivers for renewable energy development in Kazakhstan named
Oil refining increases in Kazakhstan
Kazakhstan's National Sea Carrier increases oil transportation by nearly 60%
Kazakhstan’s National Company's oil production down, sale up
Kazakhstan’s Pavlodar Oil Chemistry Refinery to expand production range
Main drivers for renewable energy development in Kazakhstan named
Work on development of Kalamkas "A" offshore field continues in Kazakhstan
Construction of large-scale pipeline to supply Kazakhstan with gas to be finished in fall
Kazakhstan’s JV CASPI BITUM to purchase oil filters and valves via tender
Work on development of Kalamkas "A" offshore field continues in Kazakhstan
Petrol products surplus reaches nearly 2M tons in Kazakhstan
Kazakhstan to increase trade turnover and oil extraction volumes
Total funding of renewable energy projects by Development Bank of Kazakhstan exceeds $140M
Construction of Kazakhstan’s Saryarka pipeline not be finished this year
New completion date of Kazakhstan's Saryarka pipeline revealed
Construction of Saryarka pipeline's gas distribution networks in Kazakhstan rescheduled
Renewable energy sources to produce over 50% of electricity in Kazakhstan

Agriculture

Major Kazakh company to increase fertilizers manufacturing
Kazakhstan to not introduce complete ban on livestock export due to demand from Uzbekistan
Agriculture lending increases in Kazakhstan
Kazakhstan’s Pavlodar region leads by volume of crops harvested
Kazakhstan initiates creation of fund to increase trade between IOFS member parties

Transport

Kazakhstan to launch manufacturing of unmanned aerial vehicles
Renovation of Kazakh Shymkent's international airport continues
Kazakhstan increases cars manufacturing by over 40%
Kazakhstan to complete reconstruction of highway to Turkmen border in 2019
Kazakhs purchase unprecedented amount of locally manufactured cars
Work to launch direct flights between Kazakhstan and major Chinese city underway
Kazakhstan's Air Astana to take measures to further improve the quality of service
Kazakhstan to launch assembling of Russian helicopters
Logistics centers of Russian online retailer to be constructed in Kazakhstan in two years
Russia’s Research and Production Corporation to supply freight wagons to Kazakhstan
Kazakhstan to be first importer of Russia's new MС-21 aircraft

Turkmenistan

Macroeconomic

Economic Cooperation Organization ready to expand co-op with Turkmenistan
Level of implementation of investment projects in Uzbekistan doesn’t meet plan
Amount of investments of Turkmen Union of Industrialists and Entrepreneurs disclosed
Turkmenistan sums up results of Caspian Economic Forum in Avaza tourist zone

Finance & insurance

Turkmenistan provides lending to SMEs
Turkmen President dissatisfied with weakening control over ATMs
EBRD allocated loan for private business project in Turkmenistan
Turkmen State Bank for Foreign Economic Affairs signs several int’l agreements
Number of bank card users growing in Turkmenistan

Industry

Turkmenistan studies project of int'l consortium on methanol production
Turkmenistan, India discuss joint projects in wool processing
US-based WTL launches needle coke production in Turkmenistan
Ceramic brick plant commissioned in Turkmenistan
Turkmenistan prepares textile industry development plan
Turkmenistan privatizes textile industry
Amount of investments of Turkmen Union of Industrialists and Entrepreneurs disclosed
Turkmenistan interested in cooperating with Singapore in textile industry
Turkmenistan privatizes textile industry
Turkmenistan eyes to implement projects in chemical industry

Foreign economic relations

Turkmenistan considers Japan a reliable strategic partner
Turkmenistan, Austria hold business negotiations
Turkmenistan concludes deals on sale of cotton fiber with Turkey, Switzerland
Turkmenistan, South Africa discuss trade cooperation prospects
Turkmenistan implements several environmental programs in Caspian Sea
Turkey-Turkmenistan trade slightly decreases
Belarusian auto industry representatives discuss new agreements with Turkmenistan
Turkmen FM meets outgoing Ukrainian envoy
Turkmenistan, UK discuss prospects for trade and economic cooperation
Belarus to increase food supplies to Turkmenistan
Turkmenistan, Japan mull joint business projects
Envoy: Turkmenistan - one of Ukraine’s most important trade partners in Central Asia
Turkmenistan, Singapore to hold joint business forum
Turkmenistan, Singapore ink series of economic agreements
Export value of products from Iran’s North Khorasan province to Turkmenistan declining
Turkmenistan, Singapore ink several agreements
Turkmenistan, Singapore interested in increasing, diversifying trade
Export value of products from Iran’s North Khorasan province to Turkmenistan declining
About 50 Turkmen, Kazakh companies registered in Turkey in January-July
Turkmenistan holds working group meeting on implementation of Sustainable Development Goals

Energy

Malaysian Petronas ready to expand activity in Turkmenistan
CNPC discloses amount of investments in Turkmen fuel and energy sector
Turkmenistan conducts exploration at oil-bearing structures near Caspian Sea
Dragon Oil talks investment in development of Turkmen shelf of Caspian Sea
Turkmenistan announces start of works for laying 4th branch of gas pipeline to China
Petronas, Dragon Oil negotiating with Turkmenistan to extend Caspian Sea fields' development agreements
Uzbek company delivers record amount of cement
Turkmenistan's Turkmengas State Concern to sign contract with Singapore’s company
Turkmen Seydi refinery fulfills plan for product export
TAPI project to allow for entering other growing markets in Asia-Pacific region
Afghanistan buys oil&gas products in Turkmenistan
Turkmenistan implementing preventive work on gas pipelines
Turkmenistan may increase natural gas supplies to China, Russia, Iran
Wood Mackenzie talks on further progress for Trans-Caspian Gas Pipeline
Kyrgyzstan holding talks with Turkmenistan on electricity import
International expert in oil and gas issues appointed in Turkmenistan
ARETI interested in implementation of joint projects in Turkmen fuel and energy complex

Agriculture

Turkmenistan receives orders for export of its agricultural products
Russia's Tatarstan to supply Turkmenistan with agricultural aircraft
Turkmenistan prepares to pick cotton
Turkmenistan develops banana production
Turkmenistan optimizes use of agricultural land
Turkmenistan about to complete potato harvesting
Turkmenistan to increase acreage for cotton
Private fishing developing in Turkmenistan’s northern region

Transport

Turkmenistan, Uzbekistan mull visa issues, restoring direct flights
Russia to supply helicopters to Turkmenistan
Uzbekistan to supply Isuzu buses to transport oilmen of Turkmenistan
Spanish company to provide technical assistance to Turkmen railway industry
Turkmenistan's transport and logistics company enters European market
OSCE advises Turkmenistan on airport security
Ukrainian company offers Turkmenistan to build metro in Ashgabat

Uzbekistan

Macroeconomic

Uzbekistan to introduce new Customs Code
Uzbek stock market on the rise
Uzbekistan announces record share of investment in GDP
Head of Central Bank: Devaluation of soum to not prevent servicing of external debt
Goods occupy lion’s share in Uzbek export structure
Uzbekistan's foreign trade turnover increases by almost 40%
Uzbekistan, China expect to bring trade turnover to $8 B by end of year
Uzbekistan to monitor fiscal spending to prevent sharp fluctuations of currency rate
Uzbek Central Bank refuses currency denomination
Uzbek Central Bank to no longer regulate exchange rates
WB reveals loan amounts of 4 most recent projects in Uzbekistan
Investments in Uzbekistan to reach $8.2B by end of 2019
World Bank: Uzbekistan’s national debt to increase to around 25% of GDP in 2020
European Commission: Uzbekistan to become one of most attractive investment destinations in Central Asia
European Commission to allocate 60M euros to Uzbekistan for 4 projects
AIIB implements 2 multi-million dollar projects in Uzbekistan
Two-thirds of all enterprises in Uzbekistan account for service sector
Uzbekistan signs agreements worth $1.1 billion at investment forum in Jizzakh
Uzbekistan to monitor prices for 106 types of goods, services
Uzbekistan's external debt makes up almost quarter of GDP
Chinese companies to assist Uzbekistan in modernizing tax system

Finance & insurance

Number of transactions on Uzbek stock exchange nearly triples
Uzbek banks raise dollar rate again
Fitch assigns rating to National Bank of Uzbekistan
Gazprombank presents new business tools to Uzbek firms
Uzbekistan begins selling foreign currency in exchangers
Uzbekistan Central Bank doesn’t expect large loss on deposits due to currency devaluation
Demand for Uzbek currency up by 34%
Situation with Uzbek currency to normalize by 2020
Uzbek banks start selling Russian rubles, Kazakh tenge
Uzbek Bank signs $16M agreements with IsDB Units
Uzbek Commodity Exchange publishes last week's trading data
China Development Bank to finance upgrading Uzbek aircraft fleet
CDB allocates first loan in RMB to Uzbekistan
Eximbank of China allocates loan to Uzbek bank to modernize HPP
Rate of Uzbek currency begins to fall again after brief growth
Uzbek bank to issue insurance policy with China’s Sinosure
Uzbek Central Bank publishes draft law prepared with help of WB, IMF

Industry

Polyethylene accounts for 90% of Uzbek Commodity Exchange exports
Uzbekistan increases cotton exports despite cutting production
Uzbekistan may start deliveries of textile products to US
Construction of only mineral wool plant in Central Asia begins in Uzbekistan
Uzbekistan to supply cement to Afghanistan
Uzbekistan increases gold exports 2.2 times
New Uzbek complex to mine 33M tons of ore
Foreign enterprises manufacture products worth $5.5B in Uzbekistan
Uzbek company delivers record amount of cement
Chinese company completes construction of tire factory in Uzbekistan
Uzbekistan launches enterprise that has no analogues in world
Uzbekistan to start rare medicines production
Uzbekistan actively engages in development of shoe industry
Construction work on Uzbek cement plant completed by over 90%
Uzbekistan increased cement imports by 32%

Foreign economic relations

Kyrgyz money transfer system starts working in Uzbekistan
Turkey, Uzbekistan increase trade turnover
Uzbekistan, Belarus set up JV
Uzbekistan, South Korea sign about 10 memorandums
Japan intends to expand investment co-op with Uzbekistan
Uzbek volume of imports from Singapore up 10 times
Dutch company may co-op with Uzbekistan in meat production
Russian company to assemble equipment in Uzbekistan for export to Central Asia
Kazakhstan to not introduce complete ban on livestock export due to demand from Uzbekistan
Uzbek, Russian currency exchanges sign memorandum of co-op
Russia, Uzbekistan signed contracts for almost $30 M
Russian companies working on projects worth $200M in Uzbek region
Italian companies implementing projects in Syrdarya region of Uzbekistan
Agreement between Uzbekistan, UAE on visa exemption entered into force
Afghanistan is important for Uzbekistan to enter new markets
Uzbekistan, India enter new level of economic co-op
Uzbekistan to bring number of countries with visa-free regime to 85
New Uzbek-Chinese plant launched in Namangan
Uzbekistan, China set up $1 B investment fund
Singapore company plans to introduce plasma technologies in Uzbekistan
India intends to invest in number of industries in Uzbekistan
Russia to help Uzbekistan to introduce product labeling
Indian company invests $500 M in Uzbekistan
Uzbekistan to attract Russian companies to implement project worth $407 M
Number of Uzbek companies slightly down in Turkey
Uzbekistan, China set up $1 B investment fund
Uzbekistan increases turnover with Kyrgyzstan by almost 3 times

Energy

Almost 250 tons of gasoline svold at Uzbek Commodity Exchange
Uzbekistan produces over half-million tons of gasoline
Uzbek Ministry of Energy talks on joint project with Gazprom
Russian company talks supplies of equipment to Uzbek plant
Uzbekistan may start producing electricity from exhaust gases
Uzbek Ministry of Energy signs agreement with ADB
Uzbekistan to modernize Bukhara oil refinery in three stages
Over 100 tons of gasoline sold at Uzbek Commodity Exchange
Uzbekistan plans to introduce three different electricity tariffs
Uzbekistan may build radioactive waste storage facility
IAEA to send mission to test nuclear infrastructure of Uzbekistan
New JSC in oil, gas sector of Uzbekistan to address energy needs
Uzbekistan bans import of energy-intensive equipment
Uzbekistan plans to boost share of renewable energy sources to over 25%
Uzbekistan may build gas-chemical complex to develop new gas field
New JSC in oil, gas sector of Uzbekistan to address energy needs
Entire volume of gasoline put at Uzbek Commodity Exchange sold
LUKOIL increases gas production in Uzbekistan by almost 20%
IFC talks modernization of Uzbek TPP
Japanese JOGMEC plans to co-op with Uzbekistan in hydrocarbon production
US company discovers new gas condensate field in Uzbekistan

Agriculture

Russian Kamchatka shows interest in import of Uzbek fruits, vegetables
Uzbek Samarkand region to implement 22 projects in agricultural sector
Official talks Belarus-Uzbekistan agricultural co-op benefits
Uzbekistan to significantly increase agricultural land, production by 2021
Uzbekistan provides financial carte blanche to agricultural, food sectors
Germany to introduce its technologies in Uzbek agriculture
Official talks Belarus-Uzbekistan agricultural co-op benefits
How Uzbek agriculture will benefit from co-op with ICBA?
Uzbek Ministry of Agriculture to purchase over 10,000 units of agricultural machinery

Transport

Uzbekistan almost doubles car production
Uzbekistan starts selling Chevrolet Malibu 1.5 Turbo
Russia to supply more electric locomotives to Uzbekistan
Uzbekistan becomes leader in importing cars from Russia
Uzbek truckers entitled rights to reload goods in Turkish ports
UzAuto Motors publishes Ravon auto prices in Russia
Uzbekistan plans to supply two KamAZ truck models to Afghanistan
Chinese Changan plans to introduce electric vehicle car to Uzbekistan
China-Kyrgyzstan-Uzbekistan railway to provide access to 23 deposits
Uzbek Airlines launch direct flights to Thailand
Freight flow of Uzbekistan-Afghanistan-Iran railway corridor to have annual increase of 20%
Ministry of Transport: Uzbekistan-Tajikistan-China corridor to increase export of Uzbek goods to China