Kazakhstan citizens transfer most money to Russia
113.4 billion tenge was transferred abroad via money transfer systems over the three months.
The volume of transfers increased by 30%. And, the money transferred from Russia to Kazakhstan is by 11% lower than in the previous year.
So, according to RANKING.KZ over the period of January-March 2018, 113.4 billion tenge was sent to abroad via money transfer systems that is by 36.4% higher that in the same period of 2017. At the same time, the volume of the money received from abroad increased by 5.9% and was 59.6 billion tenge.
Russia leads among the countries where money was transferred, it is almost 50 billion tenge, that is by 30.1% higher that in January-March of 2017. And, the share of Russia decreased from 46.2% to 44.1%. Turkey is the second, the volume of transfers of which increased almost twice to 12.9 billion tenge. The share of the country increased from 7.8% to 11.4%. The third place was occupied by Uzbekistan (12.4 billion tenge) and Kyrgyzstan (12.3 billion tenge) with inconsiderable difference.
Russia also leads in the volume of money transfers received by Kazakhstan citizens from abroad – 26.4 billion tenge, that is by 10.7% less than in the previous year. The share decreased from 52.7% to 44.4%.
The second place occupied by the Republic of Korea, which transferred 8.7 billion tenge to Kazakhstan, that is by 2.3 times higher. The share of the country increased from 6.7% to 14.6%.
The third if Kyrgyzstan – 6.1 billion tenge, the annual growth of 74.5%. The share increased from 6.2% to 10.3%.
Source: BNews.kz
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Kazakh deputy criticizes performance in mechanical engineering sector despite funding infusion
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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.
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Kazakhstan recovers 40bln tenge of illegally acquired assets
Images | primeminister.kz
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.
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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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Kazakhstan turns to high-value added manufacturing with building polyethylene plant it Atyrau region
Images | primeminister.kz
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.
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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%.
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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.
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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.
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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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