03.02.2023, 14:23 86291
Kazakh PM suggests EAEU countries switching to cross-border e-document flow
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It is necessary to create all conditions to develop and disseminate cross-border electronic document flow within the Eurasian Economic Union (EAEU), Prime Minister Alikhan Smailov of Kazakhstan said Friday, Kazinform correspondent reports.
While addressing the Digital Almaty Forum, Prime Minister Smailov noted Kazakhstan is working to switch to e-transport documents in order to create favorable conditions for logistics companies.
He went on to propose to switch all permit approval documents to electronic format in the EAEU member states. In his words, it will help decrease the corruption risks, on the one hand, and increase the transparency of trade turnover, on the other hand. But most importantly, it will let businesses minimize their costs, the Kazakh Premier added.
According to Alikhan Smailov, electronic interaction between the EAEU member states in the sphere of mutual trade is quite relevant.
Smailov believes that switching to e-document flow will promote open and equal cooperation and help EAEU countries climb to a new level of economic, technological and social development.
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02.05.2024, 16:06 4636
Almaty's economy booms: record 10.1% growth in 2023 sets new milestone
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Akimat of Almaty city shared that in 2023, the gross regional product of the city of Almaty increased by an impressive 10.1%, reaching a record high of 24.8 trillion tenge. This figure was the highest in the last 10 years, reflecting the significant development of the metropolitan economy, Kazinform News Agency correspondent reports.
The dynamic development of the economy was supported by the growth of such industries as manufacturing (+17.5%), trade (+14.5%), financial and insurance activities (+12.0%), information and communications (+11.3%), real estate transactions (+6.9%) and transport and warehousing (+5.7%).
Investment and business activity also played a significant role in the development of the city's economy. In 2023, 1.8 trillion tenge of investment in fixed capital was attracted to Almaty, which is 25.3% more than in the previous year. Private investment increased by 35.5%, highlighting the city's attractive investment environment.
Small and medium-sized enterprises continued to actively contribute to the economy. Last year they produced products worth 19.3 trillion tenge, which means a real increase of 15.8%. The number of active business entities also increased by 16.2%, reaching 340.1 thousand units.
This growth in the city's economy was accompanied by a decrease in the unemployment rate from 5.0% in 2022 to 4.8% in 2023. In general, the contribution of the city of Almaty to the gross domestic product of Kazakhstan also increased significantly and amounted to 20.6%.
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29.04.2024, 17:20 25226
Kazakh deputy criticizes performance in mechanical engineering sector despite funding infusion
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Kazakhstan has been funneled 285 billion tenge in the mechanical engineering sector from the republican budget in the past three years, Kazinform News Agency correspondent reports.
285 billion tenge has been allocated to the mechanical engineering sector from different sources (the Development Bank, Industrial Development Fund, KazakhExport) over the past three years. In 2023, 13 thousand vehicles were made using the small node assembly method in 2023, which is a 9.7% of the overall vehicles produced last year. It is expected that the figure will rise to 64% by 2027, said Majilis deputy Nurtai Sabilyanov, while noting the low performance rate given the support provided by the state.
The deputy stated that many industrial companies acquire vehicles and equipment only (780 projects or 49.5%) with the support received from the Industrial Development Fund, which has nothing to do with the development of the industrial sector.
Moreover, according to the industry review of the National Bank, a weighted average capacity utilization in the manufacturing industry stood at a mere 51.1% in the fourth quarter of 2023. This raises a question of whether annual capital infusions in new projects are reasonable, said the deputy.
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29.04.2024, 15:23 24991
Kazakhstan recovers 40bln tenge of illegally acquired assets
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Today was held a regular meeting of the Commission on the return to the state of illegally acquired assets under the chairmanship of Prime Minister of the Republic of Kazakhstan Olzhas Bektenov, primeminister.kz reports.
The Commission approved agreements on the voluntary return of illegally acquired assets to the state for a total amount of more than 40 billion tenge, of which more than 38 billion is cash, as well as a business centre in Astana worth 2 billion tenge. The returned funds will be used for social purposes, including the elimination of the consequences of floods.
In addition, the signing of investment agreements worth 7 billion tenge was approved, under which two infrastructure facilities will be built in Astana and Shymkent by persons who fell under the Law of the Republic of Kazakhstan "On the return of illegally acquired assets to the state’" The realisation of these projects will create jobs and provide an additional inflow of tax revenues.
The work on the return of assets is a direct realisation of the policy of the Head of State on the restoration of social justice. All returned funds are used for the benefit of the people of Kazakhstan," Olzhas Bektenov emphasised.
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29.04.2024, 12:45 22836
Kazakhstan to ramp up metallurgical industry production
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Kazakh Industry and Construction Minister Kanat Sharlapaev reported the metallurgical industry output growth in the first quarter of 2024, Kazinform News Agency reports.
He said industrial output increased by 4.3% in the first quarter of 2024 and is expected to rise further due to the expansion of production at steel manufacturers including Qarmet, Steel KSP, Shymkent Temir, Ferrum Vtor, Kazferrostal, Forever Flourishing (Middle Asia), Pty Ltd from 3,923 million tons to 4 million tons. Flat-rolled product production will increase from 2,456 tons to 2,550 tons and cast-iron output from 2,865 to 2,950 million tons.
Kazzinc, Kazakhmys Corporation, and KazMinerals Group will increase copper production. Kazzinc, KEZ will ramp up zinc and aluminum production. Copper production will almost double by 2029 from 490,000 to 1 million tons due to the construction of a copper plant in Abai region. He stressed the project will help process all exported copper concentrate.
Steel production will rise to 10 million thanks to the expansion of Qarmet and the development of new projects.
Besides, ERG Company and BAOWU Steel will together put on stream advanced iron ore raw materials processing production.
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26.04.2024, 17:02 42601
Olzhas Saparbekov met with the representatives from the Anhui Province
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On April 26 of this year, a meeting took place between Olzhas Saparbekov, the Vice Minister of Industry and Construction of the Republic of Kazakhstan, and the Deputy Governor of the Anhui Province, Sun Yun. The delegation from the People's Government of Anhui Province included representatives from the fields of international trade, culture, tourism, and external relations of the Chinese province, press service of the Ministry of Industry and Construction reports.
The meeting aimed to strengthen bilateral relations and expand economic cooperation between the Republic of Kazakhstan and the People's Republic of China. Key aspects of industrial and construction development were discussed, as well as opportunities for deeper cooperation in other economic sectors. The Vice Minister noted that such meetings are of great significance for furthering the economic ties between the two countries.
During the meeting, the parties exchanged views on current projects and discussed the prospects for joint cooperation. The fruitful meeting underscores the mutual interest and readiness for further expansion of bilateral relations between Kazakhstan and China.
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24.04.2024, 19:13 44531
Kazakhstan confirms its commitment to OPEC+ Agreement, says energy ministry
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Kazakhstan confirms its commitment to the OPEC+ Agreement and supports all decisions taken together with the OPEC+ member countries, the Kazakh energy ministry said in a statement, Kazinform News Agency reports.
According to the ministry, following the decision of the 53rd meeting of the Joint Ministerial Monitoring Committee (JMMC), Kazakhstan prepared a detailed Compensation plan, according to which it will gradually compensate for the 1st quarter overproduction during 2024.
Kazakhstan will make every effort to comply with its obligations and compensate for overproduction according to the proposed Compensation plan. We understand the importance of conformity to the obligations by each country and maintaining cooperation in order to stabilize the oil market, reads the statement.
Earlier, Kazakhstan extended its current voluntary obligations until the end of June 2024.
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19.04.2024, 14:15 75826
Kyrgyzstan and World Bank reach agreement on Kambarata HPP-1 project
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Meetings between Chairman of the Cabinet of Ministers - Head of the Administration of the President of the Kyrgyz Republic Akylbek Zhaparov and the executives of the World Bank Group continue, Kabar reports.
Yesterday, on the sidelines of the spring meetings of the International Monetary Fund and the World Bank Group, meetings were held with the WB Regional Director for Economics and Finance Asad Alam, as well as with the WB Vice President for Human Development Mamta Murthy.
The main topic of negotiations with the WB Regional Director for Economics and Finance Asad Alam was the issue of discussing the draft country economic memorandum and the partnership framework strategy, and with the WB Vice President for Human Development Mamta Murthy, the head of the Cabinet discussed issues of cooperation in the social sphere, including education, healthcare and social protection.
Next, a meeting was held between Deputy Chairman of the Cabinet of Ministers Bakyt Torobaev and World Bank Regional Director for Europe and Central Asia Sameh Wahba, where the main topic of negotiations was the issue of interaction in the field of agriculture and water management.
The parties mutually noted the importance of discussing these issues in the context of climate change and natural disasters around the world.
As a result of these meetings, an agreement was reached to practically strengthen the partnership between Kyrgyzstan and the World Bank, in particular, the parties agreed to develop a financial model of cooperation within the framework of the construction of Kambarata HPP-1.
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19.04.2024, 12:26 83166
Kazakhstan turns to high-value added manufacturing with building polyethylene plant it Atyrau region
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Prime Minister of the Republic of Kazakhstan Olzhas Bektenov met with the heads of the world's largest oil and gas chemical companies – President of China Petrochemical Corporation (SINOPEC) Zhao Dong and Chairman of the Board of SIBUR LLC Mikhail Karisalovб primeminister.kz reports.
The key issue is the joint construction of the first integrated gas chemical complex for polyethylene production at a cost of about $7.7 billion and a capacity of 1.25 million tonnes per year, which will account for 1% of the world's total capacity.
A tripartite protocol was signed during the meeting, officially finalising SINOPEC's entry into the project. The ownership structure of the plant is as follows: KazMunayGas 40%, SINOPEC 30%, SIBUR 30%.
Head of the Government emphasised the importance of the project due to its focus on the production of high value-added products.
A gas separation complex (GSC) will be built at the Tengiz field to supply the "Polyethylene" project with feedstock (ethane). The capacity of the GSC is 9.1 billion m3 of dry gas processing per year, of which 1.6 million tonnes of ethane is expected to be produced.
Ethane will be sent through the main pipeline from Tengiz to the Karabatan site (territory of FEZ NINT, Atyrau region), where the polyethylene plant will operate.
It is planned to produce about 22 grades of polyethylene using American licence technologies of Chevron Phillips and Univation, 40% of which will be premium grade. A wide range of applications for both industrial and household purposes makes polyethylene the most popular polymer in the world.
Polyethylene is used in the fields of medicine, prosthetics, defence, food industry, construction, space industry and others. This polymer is used in the production of a wide range of goods: from plastic wear-resistant pipes, construction materials, medicines, syringes, prostheses to bulletproof vests, clothing for astronauts and car parts. Target markets include Kazakhstan, CIS countries, China, Turkey and European countries. At the same time, for domestic consumption, the realisation price will be lower than the import price.
The Head of State has identified deep processing of hydrocarbons as one of the key areas of development of the oil and gas sector. The priority for our economy is high conversion production producing products with a rapid increase in added value in the technological chain with an export orientation. The added value between the initial feedstock ethane and the third conversion product polyethylene increases 20 times, from $80-90 to $1600-1800 per tonne. The Polyethylene project will certainly give a serious impetus to the development of both the manufacturing industry and the country's economy as a whole. According to experts' calculations, the contribution to the country's GDP by 2030 from the implementation of the project is estimated at approximately 1.2%," Olzhas Bektenov said.
The construction of the plant is planned to be completed by 2029. During the construction period more than 8 thousand jobs will be created, during the operation period about 850 jobs will be created.
It was noted that the project is realised with the support of the Government. The plant will be built on the territory of a special economic zone with the provision of appropriate infrastructure and special tax regime. In this regard, Prime Minister emphasised the attention of the project participants to the need to maximise the use of local potential.
We on the part of the state provide comprehensive support in the implementation of projects important for the country's economy. At the same time, we expect you to increase the share of local content. For this purpose, it is necessary to determine the list of goods and equipment that will be mandatorily purchased from domestic producers. Special attention should be paid to training of Kazakhstani specialists and transfer of competences. It is important for us to maximise the attraction of local personnel, including for management positions in the project. We count on a similar approach in the implementation of other joint projects," Prime Minister emphasised.
Thus, in addition to the plant "Polyethylene" it is planned to build a gas separation complex and a trunk pipeline.
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