Forecast of oil prices announced in Kazakh Ministry of National Economy
The macroeconomic forecast will be clarified. The last year was better, inflation was lower, world prices were higher, the industry grew stronger and more diverse." In general, forecasts will be faster, higher, stronger for this year. We are preparing the relevant proposal," Dalenov said.
The price for oil was set at 45 dollars per barrel for this year, and today the price varies slightly above 60 dollars per barrel. The consensus forecast of the UN, the World Bank, and the IMF varies around 58 dollars. We now choose for the forecast price to put in the budget for this year," the First Vice Minister said.
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Asian region has good potential to continue stimulating global growth and development in upcoming years - Tokayev
Asia is expected to ensure 60% of global GDP growth this year. The continent accounts for 53% of global trade and is home to some of the world's largest and most dynamic economies. Foreign direct investment in Asia has increased significantly in recent years. This region is also home to the world's leading technology centers which ensure 70% of patent developments. The continent has significant human resources, with 21 of the world's 30 largest cities located in Asia. Out of $30 trillion of middle class consumption growth by 2030, only $1 trillion is expected to come from Western economies. As a whole, all these factors point to the so-called "Asian Renaissance," he said.
In this regard, the Boao Forum for Asia became the embodiment of the Asian innovative approach to achieving universal economic progress. It has also proved to be an exceptional symbol of China's commitment to global development," he stressed.
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Olzhas Bektenov discussed with ENI Upstream Director Luca Vignati the implementation of joint projects and increasing Kazakh content at Karachaganak and Kashagan
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Olzhas Bektenov and representatives of Société Générale Bank discuss attracting private capital to Kazakhstan
As the Head of State Kassym-Jomart Tokayev noted, it is necessary to actively involve international banks to attract foreign investment in Kazakhstan. In this direction, the Government is ready for mutually beneficial partnership and will assist in the implementation of projects important for the country," Olzhas Bektenov emphasised.
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Kazakhstan set to reduce crop areas
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Kazakhstan-Qatar relations at new level: Governments on behalf of heads of state launched investment projects worth $17.6bn
Qatar is an important economic partner of Kazakhstan in the Arab world. The agreements reached during the visit of the Head of State Kassym-Jomart Tokayev to Qatar bring our investment co-operation to a qualitatively new level. We are on the threshold of implementation of large-scale and strategically important investment projects for an unprecedented amount of $17.6 billion," Olzhas Bektenov stressed.
There is a good political basis for strengthening co-operation between our countries. Earlier during the visit, our heads of state expressed readiness to bring cooperation to a higher level and implement a number of joint projects. Our today's meeting will make it possible to realise the agreements reached at the highest level. For our part, we are ready to explore new avenues to broaden and deepen cooperation," Sheikh Mohammed bin Abdulrahman Al Thani said.
- projects for the construction of gas processing plants totalling about $5.7 billion. Implementation of the projects will saturate the domestic market and increase export volumes of marketable gas;
- projects for the construction of the Aktobe-Kostanai and Beineu-Bozoi-Shymkent trunk gas pipelines totalling about $7.7 billion aimed at developing gas supply to Kazakhstan's regions, ensuring natural gas supplies to backbone enterprises and the population of northern regions, and expanding the country's export opportunities;
- projects to build a power plant based on a combined cycle gas turbine with a capacity of 1100 MW and a hydroelectric power plant with a capacity of 350 MW for a total of about $2.7 billion, aimed at ensuring Kazakhstan's long-term energy security;
- projects to build plants for deep processing of wheat, peas and milk.
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Kaizen helps save raw materials and water in production
Last year, the plant underwent training on the implementation of the Kaizen lean production system," says Daniyar Kakimov, director of Ferrum Contract LLP. - We invited a trainer who taught employees the principles of Kaizen, introduced them to eight types of losses in production, and taught them how to find problem areas and quickly eliminate them. The training gave a positive result: employees learned to save raw materials, especially PET containers, glue and labels, and most importantly, water and electricity costs decreased. This saves money."
We plan to use part of the costs that QazIndustry reimbursed us for further improvement of production and technological processes, as well as for training workers and improving their competencies," shared D. Kakimov.
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Turkestan region has become the leader in investment in the furniture industry
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Ministry of Industry and Construction of the Republic of Kazakhstan supports the proposals of Kazakhstan designers for new approaches in the construction industry
These proposals are supported by the authorized body. Moreover, work on the first two proposals is already underway actively. We consider these proposals to be radical, timely, and well-founded" Timur Karagoyshin stated.
We support this initiative because, currently, these services not only duplicate each other but also dilute responsibility and act as a catalyst for the development of a corrupt environment" Timur Karagoyshin highlighted.
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