Uzbekistan's trade turnover volume with US grows in 1Q2024

14.06.2024, 15:10 3801

Brand new car sales in Kazakhstan decline in May

Images | Depositphotos

According to the Kazakhstan Automobile Union (KAU), in May 2024, official dealers sold 12,032 units of cars and light commercial vehicles, as well as 781 trucks and buses in May 2024. This represents a 13.2% decrease compared to May last year, Kazinform News Agency reports.

A total of 66,457 vehicles were sold in the first five months of 2024, which is 0.1% more than in the same period in the previous year.

The 2024 sales figures were on par with those of the previous year, but the figures continued declining in May. The market is getting back to a normal, as it should be. We forecast sales at the level of 160,000 to 165,000 new cars this year. In turn, official dealers are continuing promotions and lucrative offers in order to encourage people to purchase new vehicles. However, the illegal importation of the older vehicles continues to grow," Anar Makasheva, KAU president, stated.

Hyundai maintains the top position in the top 10 bestselling cars with 2,424 units sold, representing a 44% decrease compared to May last year. Kia continues to hold the second position with 1,903 cars sold, a 13.4% decline. Chevrolet is third with 1,345 units sold, a 59.2% decrease. For the first time this year, Jac has secured the fourth position with 1,028 units sold, representing a 396.6% increase. Chery was fifth in May with 929 cars sold, a 39.7% increase. The next items on the list are Changan (679; +31.3%), Jetour (664), Haval (592; -5.4%), Toyota (571; +14.2%), and Geely (450; +74.4%).

After five months, Hyundai (14,760; -15%) leads the brand standings, with Kia in the second place with 8,541 cars sold (-13.4%) and Chevrolet in the third place with 6,159 cars sold (-65.1%). Chery dealers sold 5,428 cars, representing a 60.9% increase. In fifth place is Jac, which sold 4,022 units, an increase of 165.8%.

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13.06.2024, 13:47 3961

State fulfills all its social obligations in 2023 - Finance Minister

By providing sufficient amount of funding in 2023, the state managed to fulfill all its social obligations, said Minister of Finance Madi Takiyev at the Senate’s plenary session on June 13, Kazinform News Agency reports.

Budget deficit made 3.1 trillion tenge or 2.6% against GDP (119 251.1657 billion tenge). As of January 1, 2024, state debt totaled 27.2 trillion tenge or 22.8% of GDP," Madi Takiyev said, reporting on utilization of the national budget in 2023.

The minister said that the annual plan for the national budget revenues was fulfilled by 99.9%, with 19 trillion tenge received (against 19.1 trillion tenge of the planned amount)

Of this volume, budget income (excluding transfers) accounted for 14.5 trillion tenge (99.3% against planned 14.6 trillion tenge). The plan was not fulfilled by 101 billion tenge.

In general, compared to 2022, incomes increased by 4 trillion tenge (+138.8%, from 10.5 trillion in 2022 to 14.5 trillion in 2023). 2.9 trillion tenge of this amount was secured by tax revenues which rose by 29% (from 10 trillion tenge in 2022 to 12.9 trillion tenge in 2023)," Madi Takiyev added.

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11.06.2024, 17:45 4566

Costs for 271 mln tenge were reimbursed to enterprises

In the first five months of this year (January-May), the state reimbursed 271.1 million tenge to domestic enterprises. This is part of the costs they spend on increasing labor productivity or promoting products to the domestic market, press service of the Ministry of Industry and Construction reports.

During this period, QazIndustry received 311 applications from enterprises for government incentives. 254.5 million tenge was allocated for reimbursement of expenses aimed at increasing labor productivity, 16.6 million tenge - for reimbursement of funds spent on product promotion.

The most applications in the first direction were received from enterprises of Karaganda, Akmola regions and Almaty. In the second direction, the production of the West Kazakhstan region showed the greatest activity.

In the sectoral section, in two directions, enterprises of mechanical engineering and agriculture (food and beverage production) applied for state support the most.

During the reporting period, QazIndustry conducted over 200 telephone consultations to clarify the conditions and mechanisms for reimbursement of part of the costs. KCE representatives advise during Open Days and at personal meetings at enterprises, as well as during various forums, conferences and exhibitions.

You can get a free consultation on MGS issues on Open Days every Thursday at the QazIndustry office at 17 Kabanbai Batyr Avenue, Block E, 4th floor, Astana city.

Applications to QazIndustry for the provision of government incentives for business are accepted only online - through the corporate website qazindustry.gov.kz - and without intermediaries.

Recall that QazIndustry is the operator of the Ministry of Industry and Construction of the Republic of Kazakhstan to provide support measures aimed at stimulating the increase in labor productivity of industrial enterprises and product promotion.

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05.06.2024, 11:05 20721

Kazakhstan starts developing Kalamkas-Sea and Khazar oil fields

Kazakhstan has proceeded to the development of the Kalamkas-Sea and Khazar oil fields, Kazinform News Agency learned from the press service of the Ministry of Energy.

The project participants are JSC NC KazMunayGas (50%) and PJSC LUKOIL (50%). The agreements on their development have already been signed. A joint venture LLP Kalamkas-Khazar Operating has been established.

The construction of offshore platforms on Kazakhstani yards will begin in 2026 to ensure speedy oil extraction on Kalamkas-Sea deposit.

The project is reported to receive over $6 billion of direct investments.

Up to 2,000 jobs will be created at the project’s arrangement stage, and 300 people are reported to be employed at the operation stage.

The arrangement will begin with the installation of offshore platforms made of steel constructions on the Kalamkas-Sea oil field.

This large-scale project will contribute to the country’s economic potential growth. The project will also enable to train professionals meeting global standards, create new jobs and have a favorable multiplicative effect on socio-economic development," says the Ministry of Energy.

The Kalamkas-Sea oil field is located in the central area of the north-eastern sector of the Caspian Sea, 64 kilometers away from the coast. The depth of the sea here is 6-7 meters.

The Khazar oil field is located 30 kilometers southwest of the Kalamkas-Sea deposit and 65 kilometers northwest of Buzachi peninsula.

The Kalamkas-Sea and Khazar fields are the only fields in the Kazakhstan sector of the Caspian Sea with confirmed reserves on the Republic of Kazakhstan balance.

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03.06.2024, 18:33 21761

Deflation on food products recorded in Kazakhstan for first time in 4 years

In May 2024, the prices of food products, which include 19 types of social foodstuffs, decreased by 0.2%. In general, deflation on food products is observed for the first time in the last 4 years, primeminister.kz reports.

The current price situation was considered at a regular meeting in the Government on Saturday, 1 June, chaired by Deputy Prime Minister Serik Zhumangarin.

Every week at these meetings there is a detailed analysis of the weekly price index in the country. By analysing price increases or decreases, each of the 19 types of social food products in 20 regions of Kazakhstan is examined. The reasons are identified and, if necessary, orders are immediately given to stabilise the cost.

So this time: First Deputy Minister of Trade and Integration Aizhan Bizhanova presented a weekly picture of food prices in the country. 10 regions went into minus (Abay, East Kazakhstan region, Pavlodar, Karaganda, Aktobe, Turkestan, Zhambyl, Kyzylorda, Atyrau, Astana), five kept zero price growth (East Kazakhstan region, Almaty, Almaty, Kostanay, Zhetisu, Almaty), another five regions recorded an increase in the social group of products at the level of 0.1-0.6% (Akmola, Mangystau, West Kazakhstan region, Ulytau, Shymkent).

During the week the prices for cabbage (-7.2%), buckwheat groats (-1.7%), rice (-0.1%), sunflower oil (-0.5%), chicken meat (-0.2%), milk of 2.5% fat content (-0.2%), chicken eggs of C1 category (-0.6%) decreased. At the same time there is an increase in prices for potatoes, carrots and onions. In the three southern regions of Kazakhstan recorded an increase in prices for kefir cumulatively by 0.3%. According to MTI, the prices for sour-milk products were raised by a local large producer. Serik Zhumangarin instructed the Agency to analyse this market for the reasonableness of the increase.

The meeting also discussed the draft indicative prices for vegetables for June this year. To exclude the possibility of inflated prices by unproductive intermediaries, Serik Zhumangarin instructed the Ministry of Trade together with the Agency to calculate economically justified profitability of prices and determine fair indicative prices for vegetables at the end of the spring off-season.

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03.06.2024, 17:30 21956

Locust control measures to be intensified in Aktobe and Kostanay regions

Equipment and the necessary stock of pesticides are already ready for the start of large-scale land treatment in the regions with the largest predicted volumes of locust spread. Temporary labourers are being attracted en masse, primeminister.kz reports.

The current situation in the fight against insect pests was discussed in the Government session on 1 June at the third meeting of the republican operational headquarters to coordinate protective measures against locusts. Agriculture Minister Aidarbek Saparov chaired the meeting.

As of 31 May, Turkestan region conducted treatment against Moroccan locust larvae on an area of 259.3 thousand hectares. This is 95.5% of the projected volume. In Zhambyl oblast, protective measures are fully completed: 9.8 thousand hectares or 100% have been treated.

Protective measures against Italian pruce have been started. Of the 2.2 million hectares treated 144.1 thousand hectares in Aktobe, Almaty, Atyrau, Zhambyl, West Kazakhstan, Kostanay, Kyzylorda regions and Zhetisu region. In other regions, chemical treatment against Italian pruce will begin as larvae hatching sites are identified. Pesticides have already been delivered to all regions in the required volume.

Chemical treatment against Asian locust has been started in Zhetisu region. Here 200 hectares out of 950 hectares have already been treated.

The largest areas to be treated against locusts are located in Aktobe region (784.4 thousand hectares) and Kostanay region (775.6 thousand hectares). According to akimats, it is now the phase of active hatching of Italian pruce larvae in the southern areas of these regions. However, the regions are ready for it. For example, in Kostanay region treatment will be carried out in 15 districts out of 17. For this purpose 72 units of machinery will be used. Monitoring activities to determine the exact places of hatching are planned on the territory of almost 5 million hectares. 129 surveyors will be involved in this work. In addition, each rural district is recruiting and training temporary workers for chemical treatment. 326 people have already been involved.

At the end of the meeting Aidarbek Saparov instructed the regional headquarters to inform the territorial subdivisions of the State Inspection Committee on a daily basis about the current state of the ongoing work. Where it is necessary to immediately move additional equipment and involve as many temporary workers as possible. In Turkestan region to carry out additional clean-up.

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03.06.2024, 09:32 27551

Agreement for construction of $1.5bn copper smelter signed in Kazakhstan Government

Images | primeminister.kz

Prime Minister of the Republic of Kazakhstan Olzhas Bektenov and Chairman of the Board of Directors of China Nonferrous Metal Mining Co. Ltd. Xi Zhengping discussed cooperation in the copper industry, primeminister.kz reports.

The result of the meeting was the signing in the presence of the Prime Minister of Kazakhstan Olzhas Bektenov agreement on the construction of a smelter with a capacity of 300 thousand tonnes of copper per year. The agreement was signed between KAZ Minerals Smelting LLP, which acts as the customer, China Nonferrous Metal Industry's Foreign Engineering and Construction Co., Ltd. (NFC) as the supplier of design services and procurement of process equipment, and NFC Kazakhstan LLP as the construction and commissioning contractor.

The plant will be built near the village of Aktogay in the Abay region. The source of raw materials will be copper concentrate from Bozshakol and Aktogay mining and processing plants of Vostoktsvetmet LLP. The construction of the plant will create a cluster combining one of the world's largest copper mines and a modern copper smelting facility. The project, with a preliminary cost of $1.5bn, will create over 1,000 new jobs. It is scheduled to be commissioned by the end of 2028.

The high-tech enterprise will be the largest in the country for the production of high-value-added products. The applied technologies in the field of copper smelting correspond to the world environmental standards.

The enterprise will meet the domestic market demand for processing of copper-containing raw materials and copper cathode. It should be noted that cathode copper is widely used in the power industry, machine building and other industrial sectors. In addition, the new plant plans to produce refined gold, silver and sulphuric acid.

The Head of State has set the task of sustainable economic growth. The construction of the new copper smelter is a major industrial project that will increase the processing of copper raw materials mined in the country and will make a great contribution to the economy of our country. Copper industry is one of the priority sectors of our industry and its dynamic development is very important for us," Olzhas Bektenov emphasised.

For reference: China Nonferrous Metal Industry's Foreign Engineering and Construction Company Ltd (Non Ferrous China) is a state-controlled company listed on the Shenzhen Stock Exchange. It is involved in international project contracting and non-ferrous metal resource development. NFC was the first Chinese company to invest in non-ferrous metal mining and processing assets outside of China, and also owns mining projects in the PRC itself. It has business operations in more than 20 countries. NFC was the lead contractor on KAZ Minerals' Bozshakol, Aktogay and Bozymchak projects.

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30.05.2024, 09:06 36406

Volume of investment in the furniture industry increased 11-fold

For January-March 2024 in the furniture industry of Kazakhstan attracted 1 173.4 million tenge of investment. Compared to the same period of 2023, it is 11 times more. This was reported by the Directorate for the development of light, woodworking, furniture industry and production of building materials QazIndustry, press service of the Ministry of Industry and Construction reports.

The leader among the regions in terms of investment in this sector was Turkestan region. In the first three months of this year, 645.1 million tenge, or 55% of the national level, was attracted here in the furniture industry. Such a high result was possible due to increased investment in the production of chairs and other furniture for sitting (645.1 million tenge).

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Uzbekistan's trade turnover volume with US grows in 1Q2024

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