OPEC+ to ramp up oil output in November

As part of his visit to Austria, Minister of Foreign Affairs of the Republic of Kazakhstan Yermek Kosherbayev held a meeting with representatives of leading Austrian industrial and investment companies. The event brought together key firms operating in machinery manufacturing, green metallurgy, transport development, innovation and high-tech sectors, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.

Representatives of ÖBB, Lasselsberger Group, Primetals Technologies Austria GmbH, AVL List GmbH, Steyr Automotive, Rosenbauer International, Magnatech GmbH and other companies shaping Austria’s industrial and technological profile, attended the meeting.

Minister Kosherbayev briefed investors on Kazakhstan’s current economic dynamics and highlighted Austria’s role as a reliable European partner. Around 170 companies with Austrian capital operate successfully in Kazakhstan, including such well-known brands as Lasselsberger Group, Liebherr, Andritz Hydro and Swarovski. Kazakhstan also remains one of Austria’s main crude suppliers, accounting for more than 40% of the country’s oil imports.

During the roundtable, the participants reviewed opportunities for new joint projects in machinery manufacturing, green metallurgy, transport system modernization, raw materials processing and the introduction of intelligent technologies. Special attention was paid to enhancing Kazakhstan’s export potential, including agricultural products, metallurgy, chemical industry goods, engineering solutions and IT services.

In addition, Austrian businesses were also presented with new opportunities for establishing production facilities, localizing technologies, and expanding their presence in Central Asian markets.

The Kazakh Foreign Minister emphasized that Kazakhstan remains the regional leader in attracting foreign direct investment. Since independence, the country has received over 470 billion US dollars, reflecting sustained international interest and a high level of confidence in Kazakhstan’s economy.

The sides agreed to continue detailed work on investment and industrial projects and to intensify cooperation between the relevant government agencies and the business communities of the two countries.

 

Taking the floor at the awards ceremony for the winners of the Altyn Sapa, Paryz prizes and The Best Goods of Kazakhstan competition, Head of State Kassym-Jomart Tokayev said that digitalization and AI tools introduction can add from 14 to 20 billion US dollars to Kazakhstan’s GDP, Qazinform News Agency reports citing the Akorda press service.

The President said that due to rapid development of AI technologies, the global economy stands at the threshold of fundamental changes.

The Head of State prioritized the need to create a comfortable digital ecosystem of business support.

He commended the launch of eGovBusiness platform, which contributed to increasing the availability of public services, with a total number of services exceeding 4.6 million this year, and paperwork reduced.

He stressed the need to integrate this platform with the Digital Business Map.

 

As part of the official visit of Minister of Foreign Affairs of the Republic of Kazakhstan Yermek Kosherbayev to Austria, Gabidulla Ospankulov, Chairman of the Investment Committee of the Ministry of Foreign Affairs, held a series of bilateral meetings with Austrian industrial and technology companies to discuss potential investment projects in Kazakhstan, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.

During the meetings, negotiations were held with Primetals Technologies Austria GmbH, the largest division of the international Primetals Technologies group, specializing in environmentally friendly steel production technologies, digitalization, and automation of metallurgical processes. The company is one of Austria’s leading engineering enterprises, with an annual turnover exceeding 750 million euro, and possesses advanced expertise in engineering, rolling technologies, and intelligent industrial systems. Previously, the company signed an agreement with ERG to implement a major metallurgical project in Kazakhstan. Continuing this cooperation, the parties discussed additional opportunities for Primetals Technologies to participate in Kazakhstan’s industrial initiatives, including potential collaboration with Qarmet and other local partners on new production facilities.

Chairman of the Investment Committee Ospankulov also met with the management of Magnatech GmbH, a company with over 30 years of experience in metallurgy and mining industries. Company specializes in acid regeneration technologies, energy-efficient solutions, industrial equipment supply, and full-cycle engineering. The company has implemented projects in the USA, Germany, Brazil, Austria, India, Türkiye, and several CIS countries, including construction of industrial plants and deployment of green energy technologies. During the meeting, the sides discussed prospects for localization of technological solutions in Kazakhstan, introduction of eco-efficient and resource-saving technologies in metallurgy, and creation of joint projects in industrial modernization and service support.

Additional meetings were held with Austrian companies interested in entering the Kazakh market, expanding production cooperation, and developing logistics potential along the Trans-Caspian "Middle Corridor."

Gabidulla Ospankulov emphasized that Kazakhstan is interested in expanding the presence of Austrian companies and technology partners in key sectoral projects: "Austrian companies possess strong engineering expertise and long-standing experience in implementing industrial projects. Kazakhstan offers substantial opportunities for partnership - from metallurgy and mechanical engineering to green technologies and industrial modernization. We stand ready to provide comprehensive support to investors and accompany joint initiatives at every stage," he underlined.

The parties identified specific areas for further work and agreed to move forward with practical steps to prepare joint projects. In the near future, additional consultations with companies and sectoral agencies are planned to accelerate the development of initiatives in industry and metallurgy.

 

President Kassym-Jomart Tokayev addressed the awarding ceremony for the laureates of the "Altyn Sapa" and "Paryz" Prizes, as well as the winners of the national contest "Best Product of Kazakhstan", Qazinform News Agency reports referring to the Akorda press service.

The Head of State stressed competitive business is the backbone of any state. It is expected that this year Kazakhstan’s economic growth will exceed 6%, the highest indicator in the last decade. Moreover, GDP is forecasted to surpass $300 billion for the first time.

The President emphasized that the country prioritizes infrastructure development and economic diversification.

The Head of State said the Government must actively work to increase exports of finished products since Kazakhstan has already achieved certain successes in this area.

 

To ensure the efficient distribution of irrigation water in the Turkistan region, limits on planting water-intensive crops have been revised based on projected water availability during the upcoming growing season, primeminister.kz reports.

Deputy Prime Minister Kanat Bozumbaev chaired a meeting in Turkistan on preparations for the 2026 vegetation period. The meeting was attended by Minister of Water Resources and Irrigation Nurzhan Nurzhigitov, Minister of Agriculture Aydarbek Saparov, representatives of water management organizations, local executive and law enforcement bodies, as well as local farming enterprises.

Participants discussed forecasts for transboundary water inflows for next year and measures to ensure the efficient use of water resources during the upcoming irrigation season. Farmers were informed about the need to adopt water-saving irrigation technologies and further reduce the planting of water-intensive crops to avoid the risk of water shortages.

According to Kanat Bozumbayev, the recent session of the International Coordination Water Commission of Central Asian countries in Ashgabat presented a forecast indicating a reduction in water inflows next year. There is a risk that the Toktogul Reservoir could reach record-low levels. Southern Kazakhstan has also seen an absence of rainfall since spring. He noted that this is a natural process affecting all countries in the region, making it necessary to actively scale up water-saving measures and revise limits for water-intensive crops. The new limits are based on the expected water volume for the 2026 growing season, estimated at around 10 billion cubic meters. Strict monitoring of compliance with the limits will be ensured. Violators must understand the consequences and refrain from demanding outcomes that exceed state capacity.

According to the Ministry of Agriculture, the rice planting plan in the Turkistan region for the upcoming vegetation period must not exceed 3,500 hectares.

The Deputy Prime Minister instructed the Ministries of Agriculture and Water Resources and Irrigation, together with the administrations of Turkistan and Kyzylorda regions, to establish a working group and determine water consumption limits within two weeks. They must also approve crop area plans strictly aligned with these limits.

Kanat Bozumbaev supported the Ministry’s proposal to prohibit rice cultivation along the interstate Dostyk Canal. Rice cultivation will be permitted only along the Kyzylkum Canal, limited to 3,500 hectares and strictly using water-saving technologies.

Farmers were encouraged to diversify crops and adopt drought-resistant varieties that require significantly less water. This approach will help increase agricultural productivity, strengthen food security, and ensure sustainable development of rural areas under conditions of limited water resources.

To prevent water shortages and encourage the adoption of modern irrigation systems, cost reimbursement for well drilling, infrastructure installation, and water-saving equipment has been increased from 50 percent to 80 percent. A differentiated tariff for irrigation water has been introduced: for those implementing water-saving technologies, the subsidy on irrigation water costs is raised from 60 percent to 85 percent; for those who do not adopt such systems, subsidy rates will be reduced by 10 percent annually.

For 2026-2028, general transfers for supporting water-saving technologies and subsidizing irrigation water costs will be four times larger than in the previous three-year period.

Currently, water-saving technologies in the Turkistan region cover 82 thousand hectares, including 18.7 thousand hectares under sprinkler systems and 63.3 thousand hectares under drip irrigation. According to the Kazakh Research Institute of Water Management, these technologies ensure water savings of 20-30 percent.

In line with the President’s instructions, the Auyil Amanaty program aimed at improving the quality of life in rural areas through budget microloans is being implemented. Between 2026 and 2028, 450 billion tenge will be allocated for rural development, including 68.7 billion tenge designated for the Turkistan region to expand rural entrepreneurship and cooperatives.

Kanat Bozumbayev emphasized that the Auyil Amanaty project is not only a financial support mechanism but also a key instrument for economic modernization in rural areas. Beginning next year, funding for rural infrastructure will be provided through general transfers. All infrastructure initiatives under the Auyil - El Besigi program must be clearly reflected in regional and district development plans. When planning local budgets for 2026-2028, akimats must allocate funds for rural infrastructure to prevent a decline in the indicators of the Regional Standards System.

 

Permanent Mission of the Republic of Kazakhstan to the World Trade Organization participated in the opening of the two-day Trade in Services for Development Conference, which commenced today at the WTO headquarters in Geneva, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.

The event was officially opened by WTO Director-General Ngozi Okonjo-Iweala, who emphasized that trade in services is one of the key drivers of global economic growth and requires special attention to enhance the participation of developing countries.

The Trade in Services for Development initiative, launched at the WTO Public Forum in September 2024, is a joint programme of the WTO and the World Bank aimed at building capacity and providing technical assistance to developing economies to strengthen their ability to benefit from trade in services.

Trade in services is currently one of the most dynamically growing segments of the global economy. Services account for around 65% of global GDP and more than 50% of worldwide employment. According to the WTO, global trade in commercial services exceeded USD 7.5 trillion in 2024, making services the largest and fastest-growing component of world trade. These trends underscore the importance of supporting countries seeking to increase their participation in global value chains in the services sector.

During the conference on 3-4 December 2025, the WTO Secretariat and the World Bank are presenting new tools, analytical materials, and programmes developed or updated under the initiative. Participants are discussing their practical applications, the needs of developing countries, optimal support mechanisms, and prospects for enhanced cooperation.

The event brings together government officials, international organizations, the private sector, and expert communities to exchange experiences, discuss best practices, and explore ways to strengthen joint efforts.

 

Kazakhstan’s probable uranium reserves exceed 2 million tons, Energy Vice Minister Yerlan Akbarov revealed at today’s plenary session of the Kazakh Senate, Qazinform News Agency reports.

He announced Kazakhstan’s prospective uranium reserves surpass more than 2 million tons. There are nine uranium provinces in Kazakhstan, including the Shu–Sarysu and Syrdarya basins, which are mainly represented by hydrogenic deposits. The remaining provinces are ore-based, which means they contain solid minerals.

Today’s plenary session of the Senate reviews in its first reading amendments to Kazakhstan’s Code on Subsoil and Subsoil Use aimed at improving regulations in the field of hydrocarbons and uranium.

Earlier, it was reported that the deputies’ initiative is focused on attracting investment in the exploration and production of hydrocarbons, as well as protecting the state’s interests in the uranium industry.

 

The Academy of the Eurasian Development Bank and the Academy of Public Administration under the President of the Republic of Kazakhstan held a three-day workshop titled Project Management and Project Finance for Public Officials of the Republic of Kazakhstan, EDB reports.

The workshop took place on 24-26 November in Astana and brought together 20 representatives of Kazakhstan’s ministries and government agencies responsible for economic policy, investment, infrastructure development, budgeting, digital solutions and risk management.

The event marked another step in strengthening cooperation between the EDB and government institutions and contributed to building a shared understanding of project finance opportunities in Kazakhstan. This, in turn, is expected to enhance the effectiveness of national development projects.

The workshop focused on strengthening the practical skills of public officials in project management and project finance. The programme combined substantive thematic sessions with hands-on exercises and case studies.

Speakers included representatives of Kazakhstan’s government agencies, faculty of the Academy of Public Administration, international consultants and senior EDB experts.

Azamat Tyuleubai, Senior Managing Director and Head of the EDB Project Unit, emphasised the importance of partnership between state bodies and financial institutions: "Project finance is an important mechanism for attracting investment to Kazakhstan. Thanks to the active engagement of government agencies, project finance in the country is gaining institutional stability: the state provides regulatory support, risk-sharing mechanisms and participation through development institutions. The EDB Academy can serve as a platform for exchanging views and studying international experience in major project-finance and PPP initiatives."

Participants explored the architecture of project management and the evolution of project finance in Kazakhstan, as well as the specifics of project structuring by international financial institutions. Particular attention was given to practical tools such as responsibility and risk matrices, project readiness checklists, credit quality analysis, performance evaluation, and monitoring mechanisms.

During the programme, participants examined real cases of sectoral and infrastructure projects, reviewed common mistakes in project preparation and gained access to research materials from the EDB and other multilateral development banks.