Kazakhstan recovers assets worth 610bln tenge
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Prime Minister Olzhas Bektenov has chaired today a meeting of the Commission on the Return of Illegally Acquired Assets, Kazinform News Agency reports.
The Commission heard a report on the work of the Returned Asset Management Company LLP.
According to the report, assets amounting to 610 billion tenge which include 506 billion tenge of cash and property worth over 103 billion tenge, have been returned to Kazakhstan. The Special State Fund has allocated funds for the implementation of 280 social projects in education, healthcare, sport, social protection spheres, as well as for the modernization of utilities infrastructure.
Following the regular meeting, the Commission approved the conclusion of a number of agreements on voluntary return of the illegally acquired assets. The Special State Fund will receive additional 150 billion tenge.
10.5 billion tenge will be invested in Kazakhstan’s economy.
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Olzhas Bektenov holds Interim Meeting of Foreign Investors Council
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Prime Minister of the Republic of Kazakhstan, Olzhas Bektenov, held an interim meeting of the Foreign Investors’ Council. The meeting addressed current issues related to investor activities in the country and their contribution to domestic value creation, primeminister.kz reports.
As instructed by the Head of State, the Government is implementing systemic measures to improve the business climate and accelerate economic diversification. These efforts aim to attract additional capital, expand the country’s resource potential, and launch new industrial enterprises.
The Prime Minister emphasized the government’s commitment to close cooperation with investors to implement new projects in priority sectors of the economy, ensure deep localization, and increase employment.
As the Head of State noted, under the current geopolitical and economic conditions, the top priority is to create a favorable environment for enhancing entrepreneurial activity through the attraction of private investment. We are interested in working with you to establish new production facilities in Kazakhstan, which will support job creation and deep localization. It is important to unlock the potential for new areas of cooperation and implement breakthrough projects in the priority sectors of the economy. We have created all the necessary conditions for this. The Government of Kazakhstan is open to constructive dialogue and ready to jointly find solutions that will contribute to our country’s development," Olzhas Bektenov stated.
During the meeting, joint working groups presented reports on the implementation of investment policy; healthcare and the development of the pharmaceutical industry; energy, ecology, and the oil and gas sector; labor legislation and human capital development; and digitalization.
Speakers included:
- Yerlan Dosymbekov, Chairman of the Board of the Association "Kazakhstan Foreign Investors’ Council" and Managing Partner at EY for Central Asia and the Caucasus,
- Cécile Rollin, Managing Director of ExxonMobil Kazakhstan Inc.,
- Dimitriy Propp, Director of Marketing and Sales in Kazakhstan, Kyrgyzstan, and Tajikistan at Knauf Gips Kapchagay LLP,
- Saken Zhumashev, Managing Partner and Executive Director at KPMG Caucasus and Central Asia,
- Adam Alekseyuk, CEO of JSC "Himpharm",
- Huseyin Ozhan, Managing Director at the European Bank for Reconstruction and Development.
The speakers highlighted that future efforts will focus on improving environmental regulations, developing cloud technologies and artificial intelligence, refining migration policies, digitalizing subsoil use processes, enhancing inter-agency coordination regarding the declining Caspian Sea level, and attracting investment and technology in the healthcare sector.
Representatives from the Ministries of National Economy, Energy, Labor and Social Protection, Digital Development, Innovation and Aerospace Industry, and Health provided comments on the issues raised by investors.
Kazakhstan is implementing a number of systemic measures to improve the business environment. The Law on Industrial Policy has been adopted, supporting local suppliers and integrating them into value chains. The Investment Policy Concept has been updated through 2029 to foster a sustainable business ecosystem. The National Digital Investment Platform has been launched to streamline project implementation processes. Infrastructure support is being provided, with ready-made industrial sites available in special economic, industrial, and small industrial zones. Work is underway to conclude long-term contracts and off-take agreements to load existing production capacities and attract new participants.
Following the meeting, the Prime Minister instructed government bodies and organizations to address the issues and recommendations raised.
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Kazakhstan starts implementing 2nd phase of North Aral Sea conservation project
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Kazakhstan and the World Bank have discussed the implementation of the second phase of the North Aral Sea preservation project, Kazinform News Agency reports.
The issue was discussed at a meeting between Nurzhan Nurzhigitov, Kazakhstan’s Minister of Water Resources and Irrigation, and Sameh Wahba, World Bank’s Regional Director for Europe and Central Asia, Kyzylorda region.
According to Nurzhigitov, the Ministry has nearly completed the development of a feasibility study for the project’s second phase. In the second phase, the Ministry plans to reconstruct the Kokaral Dam and raise water level to 44 meters as per the Baltic Elevation System, as well as to build a hydraulic structure near Amanotkel village to stabilize water resources in lake systems of Akshatau and Kamystybas of Aral district.
As a result, the area of the water surface of the North Aral Sea will expand to 3,913 square kilometers, and the volume of water will reach 34 cubic kilometers. Experts say it will take from 4 to 5 years to replenish the sea with water.
This option of conserving the sea is based on the results of analysis and assessment of average annual volumes of water inflow along the Syr Darya River basin from 1913 to 2019 and physical parameters of water ponds.
We have reviewed various options of the project’s implementation. Since the year beginning, we have held several meetings with the regional authorities and administration of Aral district. During my working trip to the region, I met local public, deputies of the Parliament, designers, water sector veterans and other interested governmental agencies. The selected option seems to be the most optimal in terms of timing and also takes into account the real situation in the Syr Darya River basin," Minister Nurzhigitov says.
For his part, Sameh Wahba said that the World Bank is interested in further participation in the North Aral Sea conservation.
It should be reminded that the World Bank allocated a grant to Kazakhstan for the development of the project’s feasibility study.
Today we have visited the fish processing plant and saw how many jobs will be generated in the region after the project’s implementation. There will also be employment opportunities in other sectors, including agriculture, cattle-breeding and tourism. Thus, the project will let create new economic opportunities for the region. The North Aral Sea conservation project is very important, as it sets an example of restoration of the entire eco-system," he noted.
The expertise on the project’s feasibility study will be ready by December 2025.
The North Aral Sea conservation project sets a goal to increase the water volume and improve its quality in the sea, to restore the Syr Darya River delta, to decrease salt removal from the sea bottom, to improve the management of the North Aral Sea water resources, to develop fishery in Kyzylorda region and to improve the quality of the residents’ life.
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Kassym-Jomart Tokayev hands over Otan Order to public figure Kuanysh Sultanov
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Kassym-Jomart Tokayev congratulated public figure Kuanysh Sultanov on his 80th anniversary emphasizing his contribution to the development of Kazakhstan, Kazinform News Agency learned from the Akorda press service.
From the first days of Independence, you have actively participated in the country’s affairs, working tirelessly for the benefit of strengthening of our statehood. You have held the posts of the minister and deputy prime minister. As a diplomat, you have done enormous work to raise international authority of our country. You have served as the Ambassador Extraordinary and Plenipotentiary of Kazakhstan to the People’s Republic of China, and also contributed to the development of relations with Mongolia, Vietnam and North Korea. You have made a significant contribution to the development of domestic parliamentarism. Being a deputy, vice chairman of the Supreme Council, being elected to the Senate three times and to the Majilis twice, you have constantly raised important issues. Today you continue to be energetically involved in public activities. I am confident that your invaluable experience, patriotism, personal attributes will serve an example for the youth," said the President.
The Head of State also emphasized that Kuanysh Sultanov authored a number of books on social and political issues.
Kuanysh Sultanov thanked the President for the state award and high appreciation of his longstanding work for the country’s benefit.
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National Bank's report on Y2024 results presented in Akorda
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President Kassym-Jomart Tojayev has chaired today a session in Akorda devoted to the National Bank’s report on Y2024 results, Kazinform News Agency reports.
The Head of State was reported about the macro-economic situation, key results of monetary policy, state of financial system, international reserves, assets of the Unified Accumulative Pension Fund and the National Fund.
The meeting participants discussed the issues related to the activity of the National Fund, national budget utilization, decline in inflation, monetary policy, draft law "On banks and banking activity", crediting of real sector of economy, as well as gold and currency assets of the National Bank.
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Olzhas Bektenov holds meeting on large industrial projects in chemical and metallurgical industries
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Prime Minister Olzhas Bektenov held a meeting on the implementation of large industrial projects aimed at creating clusters of high conversion in the chemical and metallurgical industries. Work on the formation of export-oriented industries is carried out in accordance with the instruction of the Head of State Kassym-Jomart Tokayev, primeminister.kz reports.
Minister of Industry and Construction Yersaiyn Nagaspayev reported that 5 major initiatives with a total investment of about $10 billion and the creation of more than 8.7 thousand permanent jobs are currently being implemented.
A copper smelting plant with a capacity of up to 300,000 tonnes of copper cathode is under construction in Abay region. The plant is designed to process concentrates from the existing Bozshakol, Aktogay and Vostoktsvetmet deposits. It is envisaged to create over 1,000 permanent jobs. To date, the project has been included in the Unified Industrialisation Map, and measures are being taken to connect it to the infrastructure.
In the Karaganda region, Qarmet JSC is implementing a large-scale modernisation programme to increase production volumes and produce new types of products for machine-building and automotive enterprises. The investment volume is $3.5 billion. By 2028 it is planned to produce up to 9 million tonnes of coal, iron ore concentrate and steel 5 million tonnes annually. 2 thousand new jobs will be created. Earlier, as a result of the works carried out in 2024, production activity has been fully restored, overhauls of equipment have been completed, coal mining is carried out at 7 mines out of 8, which allowed to increase its volume by 7%.
In the Kostanay region on the basis of SSGPO JSC, it is planned to build a plant for the production of hot-briquetted iron with a capacity of 2 million tonnes per year with an iron content of more than 90%. The plant will become a reference facility for the introduction of environmentally friendly technologies in metallurgy. At present, the issues of gas supply, connection to infrastructure and sources of financing are being worked out with the participation of international financial institutions. The total volume of investments is up to $1.2bn. The project will create 1,000 permanent jobs.
In the West Kazakhstan region, a project is being implemented to build an enrichment and production complex to produce potassium chloride on the basis of the Satimola deposit. The enterprise is planned to be put into operation in four stages with a gradual increase in capacity to 12 million tonnes of potassium chloride per year. Currently, drilling works are underway at the project, land plots have been obtained, rock freezing processes have been launched, and external infrastructure is being formed. The total cost of the project exceeds $2.4 billion. It is planned to create more than 4 thousand jobs.
Prime Minister was also informed about construction of ammonia and urea complex of KazAzot Prime LLP in Mangistau region. The project will allow to meet the needs of the domestic market in mineral fertilisers. The project will create 700 jobs. Commissioning is expected in 2029. The volume of investments is about $1.5 billion.
The meeting noted the need for an integrated approach to the formation of modern industrial clusters.
New projects in these sectors should become anchor points of industrial growth aimed at the production of high value-added products, introduction of modern technologies and formation of competitive clusters. Small and medium-sized businesses, service companies, logistics centres and modern infrastructure should actively develop around them. We expect a powerful multiplier effect, which will create thousands of new jobs, revitalise the economy of entire regions," Olzhas Bektenov stressed.
State bodies have been instructed to provide quality support for the implementation of projects. The Ministries of Industry and Construction, National Economy to take measures to ensure the timely launch of all projects.
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President Tokayev congratulates Kazakhstanis on Victory Day
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President of Kazakhstan Kassym-Jomart Tokayev on Friday extended congratulations to Kazakhstanis on the occasion of the 80th anniversary of the Great Victory, Kazinform News Agency cites Akorda.
The Kazakh President said: "Each Kazakhstani celebrates this remarkable anniversary with a feeling of great gratitude to the generation of the victors".
The bloodiest war against fascism left an indelible mark on the history of the people. Our noble soldiers demonstrated courage and bravery, fighting for freedom and justice. Hundreds of thousands of them died in fierce battles. Kazakhstanis’ enormous efforts and severe hardships on the home front helped bring the Victory closer, as they worked in the fields, plants and factories, said Tokayev.
The Head of State noted that Kazakhstan cherishes the memory of the military valor and selfless labor, honoring its heroes, who demonstrate true determination and courage, delivering care and support to veterans.
Kazakhstan unveiled extensive events marking 80 years since the Great Victory, hosing the large-scale military parade in the capital, naming around 500 streets after war heroes, to ensure the harsh lessons of the war are never forgotten.
The Victory Day reminds us of the importance of preserving peace and friendship in the world, said the President, noting their role in the well-being of the people and progressive progress of Kazakhstan.
As earlier reported, Kazakhstan marks the 80th anniversary of the
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Kapshagai reservoir 100% full for second year in a row, Kazakh Water Ministry
For the second year in a row, the Kapshagai reservoir in Almaty region is 100% full. It has collected 18.5 billion cubic meters of water, Kazinform News Agency cites the Kazakh Water Resources and Irrigation Ministry.
A year ago, it reached its full capacity of 100% full for the first time in the past 10 years. Its water will provide Akdala and Shengeldy woods in Almaty region with irrigation water.
Since the beginning of the year Lake Balkhash has received 3.8 billion cubic meters of water from the Kapshagai reservoir, compared to 2.9 billion sent last year. The water level in Lake Balkhash grew by 2 billion cubic meters from 341.52 meters to 341.64 meters.
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