President Tokayev urges to tackle inflation, increase citizens’ income
"What we see is a protracted regional crisis. There are fears the situation will lead to a global crisis,"
The Government and the National Bank should prioritize stabilizing the inflation and increasing the income of citizens, Kazakhstan President Kassym-Jomart Tokayev said Thursday at the extended of the Government, Kazinform correspondent reports.
While speaking at the Government’s extended session, Head of State Kassym-Jomart Tokayev pointed out that international institutes warn of a global economic slowdown followed by a spurt in inflation.
What we see is a protracted regional crisis. There are fears the situation will lead to a global crisis," President Tokayev told participants of the session.
He went on to emphasize that the Government and the National Bank should prioritize stabilizing the inflation and increasing the income of citizens. New workplaces need to be created.
Earlier the Head of State revealed that inflation had accelerated to 14,5 percent, highest since 2015.
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Kazakhstan and Luxembourg Strengthen Political Dialogue and Economic Cooperation
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As part of a working visit to Luxembourg, Ambassador Roman Vassilenko held a number of meetings with representatives of the legislative and executive branches, the European Investment Bank (EIB), and the country’s business community, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
During a meeting with Veronique Dockendorf, Political Director of the Ministry of Foreign and European Affairs of Luxembourg, the parties discussed current issues on the bilateral agenda and cooperation between Kazakhstan and the European Union. They reviewed ways to intensify political and trade-economic cooperation, interaction and mutual support within international organizations and institutions, as well as plans to hold the next round of inter-ministerial consultations later this year. The parties also discussed the possibility of establishing a Kazakhstan-Luxembourg Business Council and organizing Kazakhstan Cultural Days in Luxembourg.
As part of the working program, the Ambassador also met with Yasuko Müller, Diplomatic Adviser to the Prime Minister of Luxembourg. The sides exchanged views on the current international situation and discussed energy issues and avenues for cooperation between the two countries in both bilateral and multilateral formats.
Prospects for expanding trade and economic cooperation were discussed during a meeting with Cindy Tereba, Director of the International Cooperation Department of the Luxembourg Chamber of Commerce. Particular attention was paid to developing partnerships in the fields of finance, logistics, innovation and the digital economy. Plans were also discussed to organize a trade mission of Luxembourg companies to Kazakhstan in October 2026.
A separate meeting was held with Thuraya Triki, Director of the International Cooperation Department of the European Investment Bank, and David Monguzzi, EIB Manager for Central Asia. The discussion focused on potential EIB financing for projects in Kazakhstan, including the construction of highways, development of transport infrastructure, projects in the field of rare earth metals, and practical coordination mechanisms to attract investment into these projects.
A meeting was also held with representatives of the international mining and metallurgical group Eurasian Resources Group, during which prospects for investment cooperation and the implementation of joint projects were discussed.
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Kazakhstan to build 160 MW combined cycle power plant in Aktau
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As part of implementing the instructions of President Kassym-Jomart Tokayev, the Government has approved the signing of an investment agreement for the construction of a 160 MW combined cycle power plant in the city of Aktau between the Ministry of Energy of Kazakhstan and Aktau Energy Company LLP, Qazinform News Agency reports.
The corresponding resolution was signed by Prime Minister Olzhas Bektenov.
According to the Government’s press service, Aktau Energy Company was established in 2024 jointly with China Huadian Corporation - a state corporation that ranks among China’s five national electricity producers.
The project is expected to attract around 108 billion tenge in investment, with 70% provided by the Chinese investor and 30% by the Kazakh side. The combined cycle power plant at the MAEK LLP site is scheduled to be commissioned in June 2027.
Under the terms of the agreement, the investor will create more than 300 new jobs for Kazakh specialists. The project also includes annual grants for employees to pursue master’s degrees in electric power engineering at specialized universities in China, along with the introduction of a continuous training system and professional development programs for Kazakh personnel.
At the end of the agreement term, the combined cycle power plant will be transferred to MAEK LLP free of charge.
It should be recalled that Aktau Energy Company had previously begun work to expand the existing capacities of MAEK LLP.
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Kazakhstan and Malaysia Strengthen Cooperation in Trade, Investment and Industry
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Ambassador of Kazakhstan to Malaysia Bulat Sugurbayev held a meeting with Malaysia’s Minister of Investment, Trade and Industry Johari bin Abdul Ghani. The meeting was also attended by Rustam Karagoyshin, Chairman of the Management Board of the National Managing Holding "Baiterek", as well as the leadership of the Damu Entrepreneurship Development Fund, the Industry Development Fund, and representatives of Allur Group, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
Ambassador B. Sugurbayev noted the significant growth in bilateral trade, which increased by 53% in 2025 to reach USD 221 million. A positive impetus to cooperation was provided by the visit of a Kazakh trade delegation led by the Minister of Trade and Integration of Kazakhstan Arman Shakkaliyev, as well as the signing of a Memorandum of Cooperation between QazTrade and its Malaysian partner MATRADE last year.
Johari bin Abdul Ghani noted that Malaysia views Kazakhstan as an important partner and a major regional hub for accessing the markets of Central Asia. The Minister expressed readiness to further strengthen trade, economic and investment cooperation. The parties also discussed the development of bilateral cooperation mechanisms, including the next meeting of the Joint Trade and Economic Committee and the activation of the Kazakhstan-Malaysia Business Council.
Particular attention was paid to transport and logistics cooperation. Ambassador Sugurbayev highlighted Kazakhstan’s strategic role as a transit hub between Asia and Europe, including within the framework of the development of the Trans-Caspian International Transport Route (TITR). It was noted that the expansion of railway connectivity between mainland Southeast Asia and China creates additional opportunities to integrate cargo flows with this route. The Ambassador expressed confidence that Kazakhstan could serve as an important platform for Malaysian companies seeking to enter not only the markets of Central Asia and the Eurasian Economic Union, but also Europe. He also proposed considering the establishment of a Malaysian Trade House at the Khorgos International Centre for Cross-Border Cooperation.
Rustam Karagoyshin, Chairman of the Management Board of Baiterek, informed about plans to involve the Malaysian company Proton in the development of the automotive industry in Kazakhstan. The joint production project is expected to create a multiplier effect in Kazakhstan’s economy through job creation and support for local entrepreneurship.
In addition to this investment and technology partnership project, the delegation of Baiterek also discussed expanding cooperation with Malaysia’s financial sector, development institutions and organizations supporting small and medium-sized enterprises.
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Kazakhstan launches extensive modernization of communal and energy infrastructures
President Kassym-Jomart Tokayev announced that the Government has begun large-scale modernization of communal and energy infrastructures at the III Republican Forum of Maslikhat Deputies of all levels, Qazinform News Agency reports, citing the Akorda press office.
Maintenance works in all operating 37 thermal power plants (TPP) have been completed or planned. The task has been set to build three new TPP plants in Kokshetau, Semey, and Oskemen regions without any delays. The start of new combined-cycle gas turbine (CCGT) plants in the Turkistan and Kyzylorda regions has been planned. This year, more than 440 electrical substations and over 17,000 km of power grids are scheduled for modernization. The development of nuclear power is seen as a key factor for securing Kazakhstan’s power self-sufficiency and diversification of our economy. At the 2024 referendum, our citizens made a strategic decision to build the first nuclear power plant in Kazakhstan," the President stated.
The Head of State also noted that peaceful nuclear development and clean carbon generation are fields that help form our country’s sovereignty.
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Kazakhstan modernizes and builds more than 220 water facilities in 2026
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The state takes systemic measures to develop the entire complex of water infrastructure. This is what President Kassym-Jomart Tokayev said, addressing the III Republican Forum of Maslikhat Deputies, Qazinform News Agency learned from the Akorda press service.
In his remarks, Kassym-Jomart Tokayev emphasized that the state had launched an unprecedented large-scale work to modernize critically important infrastructure.
He noted that despite its vast territory, Kazakhstan continues to face an acute shortage of water resources.
Ensuring access to quality drinking water for the population, as well as meeting the growing demands of the economy, remains an issue of strategic importance," Tokayev said.
The President reminded that last year, a desalination plant was commissioned in Kenderli, providing the city of Zhanaozen with a stable water supply. This autumn, the Shardara group water pipeline system is set to be launched, which will deliver drinking water to 30,000 residents.
The state takes systemic measures to develop the entire complex of water infrastructure, said the President.
In particular, the reconstruction of the Koksaray Water Reservoir in Turkistan region was launched; water reservoirs are being built in Kyzylorda and Zhambyl regions.
These projects are crucial for agriculture and improving well-being of the population and will be completed next year. In general, more than 220 projects are being implemented this year to modernize and build new water facilities," said the President.
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Prospects for Cooperation between Kazakhstan and the World Bank Group were Discussed at the Ministry of Foreign Affairs of Kazakhstan
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First Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Yerzhan Ashikbayev held a meeting with Andrei Mikhnev, Regional Director for Central Asia of the World Bank, and Zafar Khashimov, Country Manager of the International Finance Corporation in the Republic of Kazakhstan, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
During the meeting, the parties discussed the current state and prospects of cooperation between Kazakhstan and the World Bank Group, including the preparation of a new Country Partnership Framework with Kazakhstan for 2026-2031.
First Deputy Minister Ashikbayev emphasized the strategic nature of Kazakhstan’s cooperation with the World Bank Group, which has remained one of the country’s key international partners for many years, supporting the implementation of infrastructure projects and socio-economic reforms. It was noted that under the Country Partnership Framework for 2020-2025, 14 projects totaling approximately 4.2 billion US dollars were implemented in Kazakhstan.
Regional Director Mikhnev briefed the Kazakh side on the preparation of the new World Bank Country Partnership Framework, the Bank’s current program in Kazakhstan, as well as prospective projects in transport infrastructure, modernization of the municipal and energy sectors, water resource management, and support for structural reforms.
Country Manager Khashimov presented an overview of the International Finance Corporation’s current activities in Kazakhstan, including projects in transport infrastructure, the financial sector, and microfinance, as well as consulting initiatives aimed at developing the mortgage market and promoting electromobility programs.
The parties also discussed promising areas of cooperation, including digital transformation of the economy, development of transport and railway infrastructure, modernization of municipal services, water resource management, and expansion of public-private partnership mechanisms.
At the end of the meeting, the parties reaffirmed their mutual interest in further strengthening the partnership and developing constructive dialogue between the Government of the Republic of Kazakhstan and the World Bank Group.
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Kazakhstan and Switzerland are Strengthening Cooperation in Nuclear and Renewable Energy
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Ambassador of Kazakhstan to Switzerland Kairat Sarzhanov met with the Director of the Swiss Federal Office of Energy Benoît Revaz, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
The parties discussed the current state and future prospects of Kazakhstan-Switzerland cooperation in the energy sector, including the development of nuclear and renewable energy, improving energy efficiency, and coordination of positions on international platforms. The successful partnership between the company "Kazatomprom" and the Swiss energy concern "Axpo Power", as well as the collaboration between the National Nuclear Center of Kazakhstan and the Swiss organization NAGRA in the field of radioactive waste management, was highlighted. These projects serve as clear examples of a high level of trust and stability in bilateral relations.
Ambassador of Kazakhstan informed the Swiss side about the implementation of Kazakhstan’s national nuclear energy development program and confirmed Astana’s interest in expanding cooperation in the peaceful use of nuclear energy.
The discussion also covered potential collaboration in renewable energy, including the modernization of hydroelectric infrastructure. Key priority areas identified include improving energy efficiency, introducing advanced waste processing technologies, and developing circular economy principles.
Following the meeting, the parties agreed to strengthen contacts between the sectoral organizations of the two countries to fully realize the potential for cooperation and exchange best practices in nuclear and "green" energy.
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Kazakh Energy Ministry says Tengiz oilfield resumes output
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Kazakhstan's Tengiz oilfield has resumed crude oil production, the country’s Energy Minister Yerlan Akkenzhenov said on Wednesday, Qazinform News Agency correspondent reports.
The Tengiz restarted production with output at up to 120,000 tons per day", - said the minister.
Akkenzhenov added the Commission’s work to identify the causes of the fire is nearing completion, and that the result is to be announced soon.
To note, a fire broke out at the Tengiz oilfield, leading to the evacuation of over 450 employees, earlier this year.
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