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Central Asia Economic Outlook: October 2019 (1)

9 December 2019
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Kazakhstan

Macroeconomic

Kazakhstan to launch over 200 projects for import substitution
Kazakhstan’s atomic company attracts over $180M
Food products prices up by over 6% in Kazakhstan
Revenues to Kazakh budget go be up by nearly $250M
Kazakhstan to launch over 200 projects for import substitution
Small business - key to boosting Kazakhstan's trade, service sectors
Over 8,000 companies eliminated in Kazakhstan
Fitch affirms new rating to Kazakhstan Mortgage Company
Kazakhstan identifies prospective areas for export increase
GDP growth observed in Kazakhstan
Funding of more investment projects being considered in Kazakhstan
External debt of Kazakhstan nearly equals 90% of GDP
Kazakhstan improving conditions for investors in Almaty
Agreements on projects worth over $850M signed in Kazakhstan
French investments into Kazakh economy exceed $15B
Border regions of Russia, Kazakhstan to have their own economic zone
Kazakh tenge breaks historical anti-record yet again
Vegetable products cost up by over 20% in Kazakhstan
Subsidiary of Russia's Sberbank funded over 2,000 projects in Kazakhstan
Int'l forecast: Kazakhstan’s economic activity likely to slow down
WB talks growth of Kazakhstan's GDP
Re-sale of housing prices up by over 5% in Kazakhstan
Kazakh international reserves slightly down
Kazakhstan improves positions in Global Competitiveness Report
Housing transactions up by nearly 70% in Kazakhstan's Kyzylorda
EU to remain committed in helping Kazakhstan switch to 'green' economy
Tourism sector of Kazakhstan: average 7% growth in last 10 years
Retail trade value exceeds $20B in Kazakhstan
Uzbekistan to develop financial sector with German KfW bank
Ministry of National Economy talks Kazakhstan's modern economic model
Kazakh budget revenues exceed expectations

Finance & insurance

Money transfers from Russia to Kazakhstan down by over 20%
Kazakhstan's reserve money slightly down
WB considers funding projects in Kazakh national currency
ALMEX decreases its share in Kazakhstan's Halyk Bank
S&P talks results of Kazakh banking system recapitalization

Industry

Kazakhstan’s largest pharmaceutical company talks digitalization projects
Over 6% of Kazakh uranium producer's stock may be sold
Kazakh industrial companies to launch over 200 digitalization projects
Kazakhstan names industries for injection of digitalization projects
Expansion of ore production underway in Kazakhstan
Kazakhstan sees almost 10% decrease in coal transportation
EAEU countries may establish joint industrial infrastructure
Mongolia to establish gold, silver refinery in Kazakhstan
Kazakhstan among leaders by growth of manufactured goods pricing

Foreign economic relations

Number of companies with Kazakh capital down in Turkey
Kazakhstan appoints new ambassador to Azerbaijan
Saudi multi-million company interested in projects in Kazakhstan
Kazakhstan abolishes visa regime with more countries
Russia’s largest geological holding establishes subsidiary in Kazakhstan
Kazakhstan, Russia to increase flights between countries' capitals
Kazakhstan, France mull joint projects
Kazakhstan, Oman talk introduction of visa-free regime
Kazakhstan, Uzbekistan working on creation of international trade center
Number of tourists from Kazakhstan and Kyrgyzstan up in Turkey in August 2019
Kazakhstan aims to develop investment co-op with Germany
Kazakhstan identifies four main areas for tourism development
Kazakhstan, Germany sign agreements worth nearly $700M
Signing of Azerbaijan-Kazakhstan co-op deal in migration planned - minister
Minister: Azerbaijan-Kazakhstan trade turnover up by over 11% in Jan.-Aug. 2019
EU talks priority areas for future projects in Kazakhstan
Kazakhstan, Mongolia may work out plan for economic co-op development
Turkmenistan, Kazakhstan to expand business partnership
Kazakhstan-Turkmenistan trade turnover up in Jan.-Aug. 2019
Kazakhstan proposes introduction of visa-free regime with CIS
Georgia, Kazakhstan eye to improve economic ties through business
Volumes of Kazakhstan wheat export to Georgia increase
Azerbaijan, Kazakhstan ink protocol on amending agreement on mutual visa-free trips

Energy

Analysis: Kazakhstan to fail deliver promised gas amount to China
Kazakh Samruk-Kazyna aims to acquire stake of Russian company in major power station
Kazakhstan extracts over 65 million tons of oil
Kazakhstan exports over 30,000 tons of petrol
Turkey reveals volume of petroleum products exports to Central Asia
Kazakh electric energy sector requires rapid development
Kazakhstan's regions leading by renewable energy production named
Kazakhstan to expand use of gas in electricity generation
Kazakhstan to launch new electric buses in Nur-Sultan
New solar park to be built in Kazakhstan's Turkestan
Kazakhstan to decrease import of jet fuel
Kazakhstan sees significant growth of electricity produced via renewable energy
Azerbaijan, Kazakhstan aim to increase efficiency of intergovernmental commission work
Kazakhstan, France agree on technical gas export
Oil output down by over 100,000 barrels in Kazakhstan
Kazakhstan reaches important milestone regarding Saryarka pipeline
No more coal: Kazakhstan to introduce green energy in its railway network
Oil and gas equipment manufacturing capacities increase in Kazakhstan
Kazakhstan to launch associated gas processing at major oil field
Kazakhstan reveals maintenance results of one of its biggest oil fields

Agriculture

Digital dairy farm launched in northern Kazakhstan
Harvested area increases by nearly 9% in Kazakhstan's Pavlodar
Kazakh export of agricultural goods to Russia up by nearly 5%
Kazakhstan to improve agriculture productivity via US technology

Transport

ADB to support Kazakhstan to improve its connectivity, trade activities, road safety
Introduction of latest technology underway in Kazakhstan
Kazakh Samruk-Kazyna aims to acquire stake of Russian company in major power station
Passenger traffic up by over 20% in Kazakh airports
Kazakhstan, Russia to increase flights between countries' capitals
Kazakhstan to start purchasing railway trains in Russia
Kazakhstan Railways to undertake over 30 activities for services digitalization
Kazakhstan sees revenue increase from passenger transportation
Over 10 aerodromes to be constructed in Kazakhstan
Kazakhstan sees increase in air passenger transportation
Kazakhstan's only lowcoster transports over 360,000 passengers
Kazakh president urges to increase international flights from Nur-Sultan
Kazakhstan, Oman to be linked by direct air flights
Kazakhstan interested in using Russia's building materials in road construction
Kazakhstan Railways, Spain's Talgo reconsider previous agreements
Countries of Turkic Council need to develop co-op in transport sector

Turkmenistan

Macroeconomic

Turkish city where most of Turkmen companies operate named
Turkmenistan aims to intensify int’l co-op in industry, energy & transport
OECD explores Turkmen market
Draft declaration on strategic economic co-op of CIS countries to be mulled in Ashgabat
Turkmenistan's GDP grows greatly since early 2019
EBRD consulting Turkmenistan in promoting export of goods
Declaration on strategic economic co-op of CIS countries signed in Ashgabat
EU ready to support Turkmenistan in modernization & reform processes
CIS FMs agree on number of documents in Ashgabat

Industry

Kyrgyzstan interested in import of Turkmen textiles
Turkmen parliament adopts new version of bill on Union of Industrialists and Entrepreneurs

Foreign economic relations

Turkey's fruit exports to Turkmenistan increase
Turkmenistan mulls co-op with UAE, Oman & Bahrain
Turkmenistan, Austria to hold joint business forum
China remains Turkmenistan’s biggest trade partner
Georgia ready to develop co-op with Turkmenistan - PM
Ashgabat and Tehran hold business negotiations
Ukraine-Turkmenistan trade decreases
Iran aims to expand co-op with Turkmenistan in various areas - president
Turkmen-Uzbek trade growing
Trump: US hopes to expand economic ties with Turkmenistan
French-based Bouygues constructing buildings in business center of Ashgabat
Turkey-Turkmenistan trade grows by over $50M
Turkey increases citrus exports to Turkmenistan
Belarus exploring prospects of co-op with Turkmenistan in tourism
Turkey increases citrus exports to Turkmenistan
Belarus ambassador takes up his duties in Turkmenistan
Ashgabat, Minsk mull prospects for co-op
Turkmenistan, Russia aim at effective co-op in Caspian Sea
Kazakhstan-Turkmenistan trade turnover up in Jan.-Aug. 2019
Ashgabat, Dushanbe ready to step up trade & economic partnership
Turkmenistan, Belarus mull business partnership prospects
Turkmenistan, Russia to hold talks at highest level
Turkmenistan, Uzbekistan agree on diversification of co-op

Energy

UAE business circles show interest in TAPI gas pipeline construction project
Turkey, UAE buy liquefied gas from Turkmenistan
Takhiatash TPP of Uzbekistan to increase electricity generation to nearly 4 B kW/h
Russia to supply pipes to Turkmenistan for TAPI gas pipeline
S. Korean company implements major projects in oil & gas sector in Turkmenistan
Turkey reveals volume of petroleum products exports to Central Asia
Turkmenistan, Pakistan to negotiate TAPI gas pipeline project
Turkmen gas company extends tender to prepare feasibility study for railway project
Dragon Oil strengthening business partnership with Turkmenistan
Ukraine interested in resuming Turkmen gas supplies
US WTL conducting operations at Turkmen oil refinery
Afghanistan, UAE buy oil & gas products from Turkmenistan
EIA: Turkmenistan’s oil output to drop in 2020
Turkmenistan, Afghanistan mull TAPI gas pipeline project
Turkmenistan implementing technical modernization of gas processing unit at Nayip field
Bulgaria agrees to co-op with Turkmenistan in IT sector
UAE, Afganistan buy LNG in Turkmenistan
Russia, Uzbekistan may sign new NPP documents by end of 2019

Agriculture

Turkmenistan increases cultivation of Dutch roses
Turkmen president instructs to take cotton campaign under special control
Major poultry farm being built in northern region of Turkmenistan
Uzbekistan supplies agricultural machinery to Turkmenistan
Over 425,000 tons of cotton harvested in Turkmenistan to date
Rice harvesting starts in Turkmenistan
Turkmenistan's Agriculture Ministry extends tender to buy veterinary medicine

Transport

Turkmenistan Airlines to launch flights to Kuala Lumpur and Jeddah
Turkmenistan, Russia mull co-op prospects in shipbuilding
Caspian ports of Russia, Turkmenistan mull resuming ferry service
Russia’s Vnesheconombank to finance car supplies to Turkmenistan

Uzbekistan

Macroeconomic

Uzbek Commodity Exchange publishes last week's trading results
EBRD official: 50M-euro project in Uzbekistan is being implemented
EBRD plans to boost green energy financing in Uzbekistan
Project worth $30 M to be implemented in Uzbekistan
Benefits for Uzbek companies at Astana International Exchange
WB to allocate $50M for science commercialization projects in Uzbekistan
Uzbekistan to host Turkic business, investment forum
Food products in Uzbekistan become more expensive by 17.5% for year
Uzbekistan's State Statistics Committee talks price increases in September 2019
IFC to consult Uzbekistan on construction of combined cycle plant
Uzbekistan intends to sign new agreement with EU in 2020
EBRD plans to boost green energy financing in Uzbekistan
Uzbekistan reduces taxes for NGOs
Belgian credit agency: Uzbekistan's economy "highly liquid"
Uzbekistan moves to green economy
Uzbekistan may become observer in EAEU in 2020
EIB, Uzbekistan plan for two-part investment program for Aral Sea
Uzbekistan intends to boost share of securities in GDP to 15%
Uzbekistan intends to boost GDP per capita by 2.1 times
Uzbekistan picks products for development as part of new localization program
Uzbekistan to conclude agreement on free trade zone with EAEU
Uzbekistan to export porcelain to Azerbaijan
Uzbekistan’s Uzmetkombinat plans to export copper products to Azerbaijan
Uzbekistan establishes duty on import of 300 goods
AIIB names 4 proposed projects in Uzbekistan
Number of enterprises with foreign capital in Uzbekistan nearing 10,000
Uzbekistan among TOP-20 countries with most gold reserves
Fitch affirms Uzbekistan at 'BB-' with Stable Outlook

Finance & insurance

Uzbek Central Bank talks restrictions on currency conversion
S&P revises Uzbek Hamrokbank’s outlook to positive
Uzbek Bank establishes co-op with New York Mellon Bank
Authorized capital of Uzbek Central Bank to soar
AIIB allocates $156M loan to Uzbekistan
Financing of road construction projects discussed in Uzbekistan
Volume of export sales on Uzbek Commodity Exchange grows 4.5 times
Uzbekistan to issue Islamic bonds sukuk
Uzbekistan’s Central Bank: No sharp changes in exchange rate dynamics expected
Uzbeks acquire $1 B in country's banks in 2019
ADB may provide Uzbekistan with $200 M loan
Uzbekistan sets minimum authorized capital of banks
Uzbekistan’s banking sector again leads in volume of transactions on stock exchange
Uzbekistan plans to attract investments, loans worth $11 B
Fitch affirms Uzbekistan Insurance Company's rating at 'BB-'

Industry

Uzbekistan's new cement plant to become largest in Central Asia
Uzbekistan plans new contracts with Japan for supply of uranium
Japan's Kuraray Co. Ltd company interested in manufacturing textile products in Uzbekistan
Uzbekistan to boost textile export to $8 B
Russian company: Construction of plant in Uzbekistan is geographically and strategically beneficial
Uzbekistan to establish agency for improving water industry
Modern jewelry factories to open in Uzbekistan
Egypt plans to invest in Uzbekistan’s footwear industry
Italian company intends to enter Uzbek textile market

Foreign economic relations

Number of newly registered Uzbek companies decreasing in Turkey
Italian, Uzbek cities sign memorandum of cooperation in tourism
Uzbekistan, Turkey establish new JV
Russian company plans to build plant in Uzbekistan
Uzbekistan, Russia sign ICT development agreement
Chairman of Federation Council of Russia: Uzbekistan assessing joining EAEU
Uzbekistan signs 24 agreements with foreign companies for over $300M
Ukraine's sugar supplies to Uzbekistan down by almost 120,000 tons
Which benefits Uzbekistan to receive from co-op with Russian GLONASS?
Uzbekistan, Russia plan to boost trade by 5 times in 5 years
Japan to support Uzbekistan in development of IT
Japan interested in importing Uzbekistan's fruits, vegetables
Uzbekistan to co-op with Toyota Tsusho Corp. in ICT field
Russian ambassador talks on geopolitical role of Belarus, Azerbaijan, Uzbekistan
Uzbekistan, Huawei preparing new project
Russia's factories aim to increase supplies, start JVs in Uzbekistan
Turkey-Uzbekistan trade turnover up in August 2019
Uzbekistan joins two int-l agreements
Uzbekistan, Turkmenistan to prepare final docs on border demarcation
Malaysian company may introduce green technology system in Uzbekistan
Uzbekistan on top among countries visited by Russian tourists
Uzbekistan establishes diplomatic relations with Grenada
Foreign Ministries of Uzbekistan, Hungary meet in Baku at CCTS Summit

Energy

European Commission calls on European companies to invest in Uzbek energy sector
Kyrgyzstan to suspend supplying electricity to Uzbekistan
ADB allocates loan to Uzbekistan for construction of HPPs
Joint project of Uzbekistan, French Orano to need $170M in FDI
Fuel prices in Uzbekistan up by over 30%
Turkey reveals volume of petroleum products exports to Central Asia
Thai Helios Energy welcomes future partnerships with rapidly developing market of Uzbekistan
Winner of int-l tender for construction of photovoltaic station in Uzbekistan announced
IAEA talks about Uzbekistan's nuclear energy program
Russia interested in implementing electric grid projects with Uzbekistan
Uzbeknefteqaz Board Chairman: SOCAR provides a lot of technical support for us
Mitsubishi may take part in construction of solar power plants in Uzbekistan
Epsilon announces results of gas production in Uzbekistan
Uzbekistan plans to double capacity of HPP till 2030
Exchange prices for liquefied gas down in Uzbekistan
Toyota Tsusho interested in construction of solar power plants in Uzbek regions
Russian State Oil Company preparing joint projects with Uzbekistan
Russian ERIELL Group to do multi-stage fracturing in Uzbekistan for first time
IAEA talks about Uzbekistan's nuclear energy program
US Epsilon receives inflow of 150,000 cubic meters of gas per day in Uzbek field
Uzbek company signs agreement with Shell

Agriculture

Uzbekistan grows its first organic cotton
Largest meat, dairy cluster in Uzbekistan being built in Jizzakh
Uzbekistan to increase supplies of fruits, vegetables to Russia
Uzbekistan supplies agricultural machinery to Turkmenistan
Uzbekistan establishes new enterprise in agricultural sector
WB eyes to allocate $500M for development of agriculture in Uzbekistan
Uzbekistan accelerates export of fruits, vegetables to Russia
Uzbek agriculture to benefit from Russian NEO Center’s development strategy

Transport

Chinese company intends to launch charter flights to Uzbek cities
"Open sky" mode launched at 4 airports in Uzbekistan
Uzbekistan receives 5 new trains from Russian Transmashholding
Indian airline intends to enter Uzbek air market
Uzbekistan, Japanese Itochu may expand manufacturing of new cars
Uzbekistan intends to boost number of internatonal flights to Samarkand
Uzbekistan lowers train ticket prices
Uzbekistan plans to renew its passenger railcars by 2025
Uzbekistan, Kyrgyzstan open new bus route
Uzbekistan, Japan may launch production of electric buses
Time set for first Tashkent-Istanbul charter flight
Uzbekistan abolishes privileges on import of expensive cars
Uzbekistan tests, commissions Belarusian Vitovt electric bus
How many passengers Uzbekistan Airways transported in 2019?
Uzbekistan to open regular flights to Munich