Kazakhstan economy news

25/06/2010
President Nursultan Nazarbayev who has arrived in Pavlodar oblast with a working visit today has surveyed Kazakhstan Electrolysis Plant JSC. After surveying the workshops N. Nazarbayev pressed start button and said "I have arrived in Pavlodar to rejoice over launch of this plant with you. The world demand for aluminum grows day by day therefore we need the third stage of the enterprise. Today our major challenge is industrialization of the country, establishment of new productions. This year Kazakhstan plans to implement 144 projects. By 2020 we must increase production by 30%-40% and raise our economy".

17/06/2010
Opening ceremony of the first direct flight of Iranian Air Company "Mahan Air" on rout Tehran - Almaty - Tehran was held in Almaty, the Kazakh Ministry of Transport and Communications reports. The Company plans to carry out the flight on Airbus-310 airliner three times a week - on Wednesday, Saturday and Sunday. The first flight #5027 departed from the airport of Tehran at 1 pm and laded in the international airport of Almaty at 6 pm local time.

9/06/2010
Formation of the Customs Union and expansion of the country's market from 16 million to 167,8 million people is expected to improve investment attractiveness of the Kazakhstan economy. Minister of Economic Development and Trade Zhanar Aitzhanova informed in Almaty. She said that economic growth of Kazakhstan depended mostly on commodities export. "In this view, the program on diversification of Kazakhstan economy remains a priority", the Minister noted.

25/05/2010
The Agency of the Republic of Kazakhstan on regulation of activities of the regional financial centre of Almaty city (ARA RFCA) has conducted series of informational stock market seminars for public servants of the city. Such detailed seminars allow to get full information on this agenda and to consult with specialists. "I think they are very interesting and useful", chief expert of the Department for Staff Management, Inspection and Control Work of Almaty Akimat Aygul Dyusenbayeva notices.

13/05/2010
Prime Minister of Kazakhstan Karim Massimov has met with Ross Mauri, General Manager for IBM Power Systems, in Ukimet Uyi. The current status and prospects of the company's work in Kazakhstan were discussed. R. Mauri informed about the plans to start joint realization of scientific-educational programs and education of IT specialists in Kazakhstan. He also noted the company's readiness to open a Linux Education Center and provide a supercomputer for educational process and scientific research planned to be held in the universities of Kazakhstan.

30/03/2010
As of March 26 5.5 mln tons of grain of the last year harvest were exported. Minister of Agriculture Akhylbek Kurishbayev has announced it at the Government's telephone conference on Monday, March 29.
It is necessary to note that owing to measures taken by the Government, Prodcorporation JSC procured about 5 mln tons of grain.

25/03/2010
President of the Kazakh National Bank Grigory Marchenko delivered a speech at the European Banking and Financial Forum on the future of world financial architecture and main world currencies held in Prague on March. This year Forum was opened by Prime Minister of Czech Jan Fischer. Heads of central banks of European countries, Federal Reserve System of the USA, representatives of the biggest transnational companies took part in the event.

13/03/2010
24 industrial facilities to the total amount of KZT 153 billion will be finished in Pavlodar region this year. Akim of the region Bakytzhan Sagintayev informed about it at the session on the issues of forced industrial and innovation development in Akorda.
"Within the framework of Forced Industrial-Innovative Development Program for 2010-2014 the region realizes 42 investment projects. Their implementation will enable to attract KZT 800-900 billion to the region's economy and create 12,000 jobs for the period of construction. After the facilities are launched about 8,000 permanent jobs are planned to be created", he noted.

25/02/2010
The third international research conference, titled "The Issues of Innovation Development of Oil-and-Gas Industry" has been opened today in Almaty. The conference was organized by Kazakh-British Technical University. The conference will last two days.

9/02/2010
Issues of countering money laundering and financial terrorism will be discussed at a seminar in Astana on February 9-11. In particular, issues on enactment of the Law "On countering money laundering and financial terrorism" and cooperation of the Committee with other state bodies and financial monitoring entities will be discussed at the seminar. The organizers of the seminar are the Kazakh Committee on Financial Monitoring and the World Bank and UNODC.

4/02/2010
"The Customs Control Committee needs to organize communication with the Customs Services of Russia and Belarus through the Operation Control Center in order to provide common customs processes", Kazakh Finance Minster Bolat Zhamishev said Thursday at the meeting of the board of the Ministry. According to the Minister, by the decision of the Commission of the Customs Union as of October 21, 2009, the Action plan on transfer of agreed types of state control to the external border of the Customs Union in the pat concerning the Kazakh-Russian border was approved. In this regard, the Customs Control Committee needs o adopt measures on realization of the action plan.

29/12/2009
"The Head of the State highly appraised the Road Map program", Kazakh Prime Minister Karim Massimov has said today at the session of the Government. According to K.Massimov, the Road Map became one of the successful programs of the year that helped to neutralize the impact of the world financial crisis. "It is obvious that we will continue the realization of the program nest year taking into consideration both positive ad negative experiences on 2009", the Premier said.

1/12/2009
Kazakh Prime Minister Karim Massimov urged Temir Zholy National Company JSC and Kaz Agro to work on the issue of purchase and production of grain carriers to Kazakhstan at the session of the Government. "It is necessary to work over the issue of purchase of grain carriers together with "Kaz Agro". The better way is not to buy but manufacture grain carriers at one of your facilities", the Prime Minister said addressing to the President of Kazakhstan Temir Zholy JSC.

13/11/2009
The Asian Institute of Technology (AIT) is planning to open its branch in Kazakhstan. It was announced at the press conference dedicated to the 50th anniversary of the AIT. According to the AIT President Said Irandoust, at present the institute carries out the work on attraction of the Central Asian states for active assistance in their higher education in the sphere of science and technique.

25/10/2009
"The interests of the domestic producers will be protected even after Kazakhstan joins the Customs Union with Russia and Belarus", Vice Minister of Industry and Trade Zhanar Aitzhanova said in Astana. According to the experts, the entry to the integration unions affects exporting enterprises. In this regard the competition ability of domestic producers can become a week point in the issue of the Customs Union accession. As the Vice Minister noted, Kazakhstan will enter the common customs area with Russia and Belarus. In this regard one of the main tasks is to support the Kazakh manufacturers.

13/10/2009
Kazakhstan Prime Minister Karim Massimov has signed the Kazakh Government's Resolution on amendments to the Resolution of the Government of the Republic of Kazakhstan as of September 7, 2009 "On introduction of temporary ban on export of petrol and diesel fuel".

25/08/2009
The highest financial supervision bodies of Kazakhstan and Ukraine recommend to raise the role of the interstate agreement on cooperation in emergency response. According to Kazakh Accounts Committee and Ukrainian Accounts Chamber equipment and other recourses of fire emergency, airmobile and rescue services is not effective that negatively influences on emergency response. Kazakh Accounts Committee and Ukrainian Accounts Chamber will continue joint holding of the parallel audit which is of great interest for both countries.

1/08/2009
President Nursultan Nazarbayev has heard a report of the National Bank's Chairman Grigory Marchenko in his Almaty residence. Significant slowdown of inflation rate is the main result of the first half of 2009, the Head of the Bank said.
According to him, inflation in Kazakhstan has lowered from to 7.6% over twelve months (July 2008-July 2009). By August 1 this figure fell below 7%. This is two times lower against the last year index, he stressed.

21/07/2009
"The Kazakh Ministry of Economy and Budget Planning proposes to establish a Committee on protection of entrepreneurs' rights, consisting of 20-25 people. It will provide institutionalization of the system of protection of entrepreneurs' rights", Head of the Ministry Bakhyt Sultanov has said Tuesday at the session of the Government. According to him, corresponding committees are functioning in developed countries and called the Office of the Ombudsman on entrepreneurs' rights. "We are ready to submit a draft address to the President's consideration", B.Sultanov said, addressing the Kazakh Prime Minister.

9/07/2009
A session devoted to the Day of Tax Service was held in the Kazakh Finance Ministry with participation of Finance Minister Bolat Zhamishev. The Kazakh tax service celebrates its 18th anniversary this year. During these years the structure was established, the goals and tasks were concretized, the legislative base was improved.

1/07/2009
The State Committee for Kazakhstan's Economic Modernization held a sitting under the chairmanship of PM Karim Massimov. The progress of Samruk-Kazyna investment projects implementation were reviewed at the meeting, particularly the projects in electric engineering, oil-&-gas, metallurgic, chemical and pharmaceutical industries.
Prime Minister Karim Massimov assigned the Samruk-Karyna fund administration and related public organs to ensure effective work in this direction.

1/06/2009
A Kazakh-Belarusian business forum has been held in Almaty under the aegis of the Chambers of Industry and Commerce of the two countries. The forum is called to create new business and trade contacts between Kazakhstani and Belarusian companies. The organizers expressed hope that the event will give a new impulse to the relations between the Chambers and will allow to find new reliable partners.

25/05/2009
200 participants have gathered for a National Business Forum-2009 spring that kicked off in Almaty today. The event is chaired by Vice Prime Minister Serik Akhmetov. The forum aims at discussion and determination of the basic elements and ideology of the Government’s short-term stabilization program and a short-term anti-crisis strategy, attraction and formation of a permanently functioning pool from the expert-leader core of the Kazakhstan business, public administration and humanitarian sphere for studying the issues of the agenda and enhancement of the work of the Government’s Anti-Crisis Council.

13/05/2009
President of Kazakhstan Nursultan Nazarbayev considers the negotiations with South Korea regarding construction of a petrochemical complex in Atyrau will be successful. The Head of the State has made it public at a press conference following the meeting with his South Korean counterpart. As is known, earlier South-Korean Company LG Chemical expressed interest in realization of this project. The capacity of the petrochemical complex will make 800 thousand tons of polyethylene and 400 thousand tons of polypropylene per annum. The complex is planned to be commissioned in 2014.

29/04/2009
President of the National Atomic Company Kazatomprom JSC M.Dzhakishev has called the discovery of a new uranium field an epochal event. The opening of the new mine Irkol was held the other day in Kyzylorda oblast. M.Dzhakishev noted that China is the largest and rapidly growing market for uranium products. As per the last programs of the Chinese atomic energy, it is planned to create over 100 atomic power stations. Now China Guangdong Nuclear Power Group (CGNPG) is building 16 atomic power stations. According to him, the discovery of the Irkol mine is the beginning of cooperation between the two countries in the atomic sphere.

13/04/2009
Kazakhstan Vice Prime Minister Serik Akhmetov will take part in two republican sittings tomorrow in Almaty. The first sitting will be devoted to the issue of promotion of Kazakhstan’s content. The meeting will be held with participation of the country’s subsoil managers and governors of five oblats – Atyrau, Aktobe, West Kazakhstan, Kyzylorda and Mangystau. At the second meeting the problems of small and medium businesses and reports by second-tier banks will be studied. Almaty Mayor Akhmetzhan Yessimov, Minister of Industry and Trade Vladimir Shkolnik, Minister of Energy and Mineral Resources Sauat Mynbayev, heads of national oil and gas companies, banks, business associations will participate in the meetings.

12/03/2009
Speaking at the II Astana Economic Forum “Economic Security of Eurasia in the System of Global Risks”, deputy of Kazakhstan Majilis academician Kenzhegali Sagadiyev proposed creating a new economic model.
He pointed out the disadvantages of the current financial and economic relations in the world, which lead to crises. “I propose a new model, a new economic paradigm. First of all, it is formation of new mechanisms and rules of international financial monetary and lending relations, and the international institutions which regulate these relations. Secondly, it is creation of a new world altertative currency which will be supranational and which our President have already spoken about. Thirdly, it is refusal from monetarism and optimal use of the two levers of economic regulation – market and government levers. Lastly, we need to refuse from the hedonic principles of life organization and social practice”, Sagadiyev said.

4/03/2009
Kazakhstan Minister of Industry and Trade Vladimir Shkolnik and Indian Minister of State for Commerce and Industry Ashwani Kumar discussed the issues of bilateral cooperation. According to Ashwani Kumar, in the course of a state visit to India President Nursultan Nazarbayev named the priority spheres of cooperation: coal industry, food, oil and gas, pharmacy and information technologies.

1/03/2009
The Kazakh government has invested 716 billion tenge ($4.76 billion) to prop up the banking system, two-thirds of a planned bailout, leaving $27 million in reserve.
The National Wellfare Fund Samruk-Kazyna, the primary conduit for the state’s economic anti-crisis program, has 364 billion tenge left to invest, of which 240 billion tenge will go into a real estate fund and 120 billion tenge for industrial and infrastructure projects, with 4 billion tenge left for “further measures the stabilize the financial sector.” Prime Minister Karim Massimov announced a $4 billion bank bailout in November, part of a planned 2.2 trillion tenge in state spending, almost a fifth of gross domestic product, to prevent the economy from contracting. The government will take $10 billion from the National Oil Fund, created to guard against a decline in crude oil prices.

25/02/2009
A workshop, organized with the support of the Kazakh Embassy and the International Financial Service of London (IFSL), aimed at discussing measures of the Kazakh Government on stabilization of the economy and “Path to Europe” Program was held in London on February 19. Representatives of the Lord Mayor of the London City, the UK Trade and Investment, the London Stock Exchange, the Confederation of British Industry, rating agencies, financial structures, and a range of other companies working with Kazakhstan took part in the workshop. Common opinion on the necessity of extension of trade-economic and investment-innovative cooperation between Kazakhstan and Britain that can contribute to successful realization of “Path to Europe” program was expressed during the talks.

9/02/2009
Kazakh Prime Minister Karim Massimov has set Minister of Energy and Mineral Resources Sauat Mynbaeyv the task on sustaining the prices for fuel and lubricants until special order at the telephone conference of the Government.
"It is necessary to sustain the prices for fuel and lubricants through the system of "KazMunaiGaz" until the special order. We have such opportunity. Besides, it is necessary to provide preparation for spring field operations", K.Massimov said. As S.Mynbayev noted, the prices for fuel and lubricants are steady in the country.

5/02/2009
The Kazakh Senate has adopted a Law "On ratification of the Agreement between the Government of the Republic of Kazakhstan and the Government of the People’s Republic of China on customs control over energy resources transported through the Kazakh-Chinese customs border by a pipeline". The draft law is elaborated for execution of cooperation of the customs services of the states on issues of customs clearance and control over energy resources transported through the Kazakh-Chinese customs border by a pipeline and etc.

22/01/2009
Russian consumers owe about USD 6 bln to the Kazakhstan coal suppliers, Minister of Energy and Mineral Resources Sauat Mynbayev said at the sitting of the board. In this view he noted that "the volume of export supplies will depend on consumers’ financial solvency". As is known, the Government of Kazakhstan approved a 2020 Concept of Kazakhstan coal industry development. In order to improve reliability of coal supply "SamrukKazyna" National Welfare Fund has purchased 50% of shares of the country’s largest company "Bogatyr Access Komir" LLP.

14/01/2009
Kazakh Prime Minister Karim Massimov has got acquainted with informational system of electronic public purchases and work of web-portal of the Financial Accounts Depository. The main purpose of the electronic public purchases is transparency of biddings, simplification of purchase procedure and minimization of human factor in selection of supplier. Beginning from 2010 all public purchases by method of pricing facilities will be obligatory conducted in electronic way.

6/01/2009
Kazakhstan’s President Nursultan Nazarbayev has visited Information Technologies Park “Alatau IT City” and exhibition “Science and innovations” in Almaty. The exhibition is dedicated to development of the innovation system and interaction between participants of the process of innovative development in Kazakhstan. 50 exhibitors – universities and industrial parks, state structures, venture funds, which finance research and development activities, companies, which implement innovations to production – from six regions of the country took part in it. Over 120 scientific elaborations and innovative projects were introduced. Organizer is “National Innovation Fund” JSC, which enters the structure of the National Welfare Fund “SamrukKazyna”.

2/01/2009
Business Council is to hold its fourth sitting in Delhi within an official visit of Kazakh President Nursultan Nazarbayev to India on Jan 23-27, 2009. Businessmen of the two friendly countries are to hold negotiations within the frame of the event. India was one of the first countries which had recognized Kazakhstan’s independence. The diplomatic relationships between the two states were established in the beginning of 1992.

5/12/2008
“Development of Kazakhstan’s participation in investment projects” is the theme of the 20th plenary session of the Council of Foreign Investors kicked off in Almaty. The sitting was opened by President Nursultan Nazarbayev. The agenda of the session includes a number of issues. Thus, Minister of Industry and Trade Vladimir Shkolnik will make a report on execution of the Protocol of the 19th plenary session of the Council held in June of the current year.

21/11/2008
“Kazakhstan exported 25 thousand tons of fish and fish products during nine months of 2008, that is 1 thousand tons more than for the corresponding period of 2007”, Chairman of the Fisheries ‘ Committee of Kazakh Ministry of Agriculture Kanat Suleymenov said at the Board sitting. “In value terms the indexes of 2007 and 2008 amounted to USD 52 and 58 mln. respectively. The bulk of imports is canned fish, frozen ocean fish and salmon roe”, K.Suleymenov said.

9/11/2008
Ukraine and Kazakhstan seek to jointly increase exports of Kazakh crude oil to Europe by building an oil terminal facility and an oil refinery near Odessa, the Ukrainian Energy and Fuel Ministry reported.
Naftogaz Ukrayiny, the national oil and gas company, and Kazmunaigaz, the Kazakh state oil and gas giant, on Thursday created a joint team to discuss these issues, the ministry said.
The companies had a meeting in Astana aimed at boosting cooperation in the energy sector in line with earlier agreements between President Viktor Yushchenko of Ukraine and President Nursultan Nazarbayev of Kazakhstan.

1/11/2008
“Prices for fuel are expected to go down”, Kazakh Minister of Energy and Mineral Resources has said at the Government’s sitting.“The Ministry of Energy and Mineral Resources, Government and subsoil users signed a memorandum ensuring significant decline in fuel prices in the domestic market. Today the cost of a liter of Ai-80 gasoline is 84.5 tenges, a liter of Ai-92 averages 96.1 tenges (in about several weeks its price will not exceed 87 tenges). Ai-95 gasoline will lower in price from 109 to 100 tenges per liter”, S. Mynbayev said.
The price of fuel oil will drop by 40 per cent. It will be KZT 27 thousand per ton while it amounted to KZT 48 thousand this summer.

25/10/2008
The Trade Committee of the Kazakh Ministry of Industry and Trade organized a business seminar “Promotion of export production of the Kazakh enterprises to the Ukrainian market” in Kiev yesterday. Chairman of the Committee Aidar Kazybayev, the representative of the Ukrainian Ministry of Economy and Kazakh Honorary Consul to West Ukraine Galina Maslyuk attend it.
The Ukrainian entrepreneurs got acquainted with a presentation of the Kazakh companies – “Tobol” SEC, “KazNex”, “KazAgro”, Trade-Industrial Chamber and others.
According to First Secretary of the Kazakh Embassy in Ukraine Islambek Arystanbekov, the event was held in the Ukrainian Ministry of Economy. The trade-economic mission aimed at support of the exporters and expansion of export of non-primary goods to the Ukrainian market, establishment of partnership relations between enterprises of the two countries, studying of international experience on using of measures on tariff and non-tariff regulations.
Following up the results of the seminar constructive business negotiations were held and a number of contracts and memorandums of further cooperation were signed.

9/10/2008
Kazakhstan plans to double its natural gas production to 61.5 billion cubic meters in 2015 compared with 2007, Deputy Energy Minister Lyazzat Kiinov said.
The Central Asian country aims to pump 100 million metric tons of crude oil in 2015, up from an estimated 70 million tons this year, Kiinov said at a conference in Almaty.

1/10/2008
“Oil consumption in the developed countries and oil prices will come down”, Prime Minister of Kazakhstan Karim Massimov has said answering the deputies’ questions at the Governmental Hour in the Majilis. According to Mr. Massimov, it is necessary to keep the oil price forecast in the republican budget for 2009-2011 at the level of 60 dollars per barrel.
“It is impossible to tell how the situation will work out. But oil consumption in the US and Europe will come down indeed”, K. Massimov stated taking into account the world economic crisis. “Thus we should get ready for reduction of prices for oil and basic metals”, he added.

9/09/2008
Central Asian region takes a special place in the system of the Eurasian economic relations. Kazakh Prime Minister Karim Massimov has made it public opening a conference Central Asia. Investment opportunities. A New Silk Road in Almaty.
“For the previous five years aggregate economic growth in Central Asian countries made up about 10 per cent. The previous year the total volume of the region’s GDP reached USD 160 billion. We possess large energy resources, ore and metallurgic raw materials, developed transport infrastructure and significant potential of human resources”, K. Massimov said.

29/08/2008
Today Prime Minister of Kazakhstan Karim Massimov has had a meeting with Senate Chairman Kassym-Zhomart Tokayev.
The parties focused on core tasks of the House’s law-making work in the light of President Nazarbayev’s instructions sounded in his annual Message to the Nation as of Feb 6, 2008.
K. Massimov handed over the country’s main draft financial documents – Fiscal and Tax Codes and a Three-year budget for 2009-2011 – to the Speaker.

21/08/2008
"In accordance with the oblast akimats, forecast figures of current year harvest are about between 16.5 and 17.5 mln tons of grain," representative of THE Agriculture Ministry Anna Buts has told today at a conference on organization of grain transportation.
“Taking into account internal consumption, forecast for export may comprise 5-5.5 mln tons of grain. As for the ban for grain export, its supply will not be limited. The Government takes certain measures on provision of food security in the country”, A. Buts noted.
"KTZ expects to deliver 700-800 thousand tons of grain in Sep, including over 500 thousand tons for export and 180 thousand tons – for internal market. At present the company has 5229 wagons for grain shipment," KTZ Managing Director Kanat Almagambetov said.

29/07/2008
Prime Minister of Kazakhstan Karim Massimov has urged to create a working group on the issues of light industry development in Kazakhstan at the Government’s. Industry and Trade Minister was instructed to head the group. Vice Minister of Industry and Trade Almas Kossunov made a report on state and prospects of development of the light industry. According to him, Kazakhstan has an opportunity to recover production and raise its level. The country has favorable conditions for it: production of natural raw material, cotton, wool, hide.
He also noted that the Ministry, “Atameken” Union and Agro Industrial Complex would elaborate a number of measures for light industry development.

9/07/2008
Today “Kazakhstan Temir Zholy” (KTZ) president Askar Mamin summarised results of the company’s work for the last half year at a widened sitting in Astana.
“The company has achieved all targeted production and financial indices. The income for the first six months of 2008 has made KZT 208.6 bln which is 16% higher than the last year index. Cargo turnover for the first half-year has increased 10.2%, transit indication has reached 18% and volume of container transportation has been raised by 23% including 37% of transit container transportation”, A. Mamin announced.
By the end of 2008 the company plans to increase cargo turnover index up to 211.9 bln tons, passenger traffic up to 9.4 bln people and container transportation up to 200 thousand tons.

29/04/2008
The Kazakh government will seek investors to build or maintain 1,000 kilometers (620 miles) of roads at a projected cost of 541 billion tenge ($4.5 billion) in exchange for operating concessions. Construction of five toll roads may begin as early as Jan. 1, the Transportation Ministry said today.
Kazakhstan, which borders Russia, China and the Caspian Sea, is the world's ninth-biggest country by territory, covering 2.7 million square kilometers (about 1 million square miles). Its $100 billion economy has grown an average of 10 percent a year since 2000, driven by high oil and metals prices.
The government also plans to upgrade 2,552 kilometers of roads at a cost of 900 billion tenge to create a highway that would allow freight from Chinese manufacturers to be delivered directly to European markets. The first phase of the upgrade will cost 789.3 billion tenge and is scheduled for completion by 2013. A second phase will be done by 2016.

25/04/2008
Delegates of the National Economic Chamber “Atameken” headed by its chairman Azat Peruashev paid a visit to Vienna on April 19-22 on invitation of the Austrian Economic Chamber with the assistance of Kazakhstan’s Embassy in Austria.
From their Austrian colleagues the Kazakhstani businessmen drew necessary experience in establishment of the sectorial and regional entrepreneurial unions and their know-how in foreign trade promotion.
The Vice President of the Austrian Economic Chamber introduced the representatives of “Atameneken” Chamber to the structure and principles of its work during their visit.
In addition, Kazakhstan’s National Economic Chamber “Atameken” and Austria’s Economic Chamber reached an agreement of further interaction and cooperation while preparing for the Days of Kazakhstan’s Economy in Austria.

11/04/2008
Kazakhstan intends to invest about $10 billion to create a Caspian oil and gas industry center in the country's west.
"The Caspian energy hub will be created in the city of Aktau on the coast of the Caspian Sea. The project aims to develop Kazakhstan's human capital and the economy as a whole through the establishment of an oil and gas industry center in the Caspian region," said a statement released after a meeting between the Kazakh President Nursultan Nazarbayev and the management of investor companies Gulf Finance House and PFC Energy International.
The project, to be implemented in the next three to five years, will be financed both by the government of Kazakhstan and foreign investors.

29/03/2008
Bilateral talks between Kazakhstan and European Union on the access to the services market took place on March 25-26 in Brussels within the framework of the negotiation process on Kazakhstan’s entry to the World Trade Organization. The delegations of Kazakhstan and European Union reached significant progress in the majority of issues of the access to the Kazakhstan services market. Some other key issues including the access to the markets of telecommunication, financial and energy services are expected to be settled in the first half of the current year.
Upon the results of the conference the international experts stressed that Kazakhstan’s participation in the world trade system through the entry to the World Trade Organization would promote diversification of the state’s economy by means of attraction of the direct investments and advanced technologies for the development of the non-primary sectors.

21/03/2008
A scientific-practical conference Energy-saving policy in the Republic of Kazakhstan is being held in the Senate of the Kazakh Parliament.
Opening the conference, chairman of the Senate of the Kazakh Parliament Kassym-Zhomart Tokayev noted that the country’s economy competitiveness is evaluated by energy consumption level and degree of production’s energy intensity.
“It is necessary to implement the innovation technologies in the process of energy-saving, alternative energy sources' utilization in conditions of growing energy deficit and resources’ appreciation,” he highlighted.

17/03/2008
A working group has formed a draft budget of Astana for 2009-2011.
First deputy akim of Kazakhstan’s capital Yerik Sultanov has maid it public today in the Astana akimat. “The working group was formed in connection with transition to a three-year budget financing. This group held an analytical work on districts’ projecting and capital’s development within a month. As the result, 51 priority districts were defined and a preliminary draft budget of Astana for 2009-2011 was formed,” Yerik Sultanov said.

11/03/2008
Prime Minister of Kazakhstan approved Strategic Plans of Development for the years of 2008-2010 of three ministries.
Justice, Finance and Economy Ministries introduced the 2008-2010 Strategic Development Plans at the regular governmental session in Astana on March 11, 2008.
The head of the Government charged Economy and Justice Ministries to introduce passports of the 2008 budget programs based on three-year strategic plans to the Economy Ministry within a week.

27/02/2008
Today in Astana Energy and Mineral Resources Minister of Kazakhstan Sauat Mynbayev and president of KazMunaiGas JSC Uzakbai Karabalin signed a contract on prospecting the Zhambyl segment on the Caspian Sea shelf.
As stated there, this segment was picked up in September 2004 within the Caspian Sea shelf development program as the most promising one. Its total square makes 1935 sq m, water depth is 4-9 m. Its predicted recoverable resources are believed to amount to 120-170 mln tons of oil.

25/02/2008
A sitting of the Kazakh Government will takes place on tomorrow in Astana. Energy and Mineral Resources Minister Sauat Mynbayev and President of KazMunaiGaz JSC Uzakbai Karabalin will make report on the project of construction of the “Beineu-Bozoi-Shalkar-Akbulak” gas pipeline. In addition the participants will consider the project of reconstruction of the international transport corridor Western Europe – Western China.

9/02/2008
Kazakhstan said it will increase its oil output by 3.7 percent during 2008.
The country expects to produce between 69 million and 70 million tons of oil this year, the country's Energy Minister Sauat Mynbayev was quoted as saying. It produced 67.5 million tons of oil and gas condensate in 2007. Kazakhstan aims to double oil output by 2015 as it boosts production at fields run by international companies such as Chevron Corp. and Eni SpA. The nation has 3.3 percent of the world's proven oil reserves and 1.7 percent of its gas.

3/02/2008
The first international conference on Extractive Industries Transparency Initiative (EITI) in Kazakhstan will be held in Astan.
It will be organized by the EITI National Council of the interested parties.
The conference’s theme is “Realization results and development perspectives of extractive industries transparency initiative”.
The representatives of the Kazakh public bodies, deputies of the Senate and Parliament of Kazakhstan, heads of the gas and oil producing and mining companies, spokesmen of the international, financial, research institutes, non-governmental organizations and mass media take part in it.

8/11/2007
A plan of measures on realization of the economic cooperation program is expected to be approved at the forthcoming sitting of the intergovernmental commission on cooperation between Kazakhstan and Russia; Kazinform refers to the Economy and Budget Planning Ministry.
As is known, a number of bilateral documents directed to the expansion of trade-economic collaboration including the program of economic cooperation between the governments of Kazakhstan and Russia for 2008-2011 was signed during the Forum of near border regions’ heads in Novosibirsk on October 5, 2007.
Actual component of a new plan of measures is creation of the Kazakh-Russian innovative space, development of cooperation in the fuel-energy complex and promotion of industry, transport, agro industrial complex and space activity. 10/11/2007

19/10/2007
The Senate of the Parliament of Kazakhstan has adopted a law On amendments to the law of the Republic of Kazakhstan "On Republican Budget for 2007”. The Senators underlined that the Government accepts the adequate measures for provision of the stability of the socio-economic development of Kazakhstan. The amendments to the 2007 republican budget foresee the increase of the republican budget revenue by KZT 175.1 bln in connection with the specification of the economic indicators and reconsideration of the forecast of the non-tax revenues.

25/09/2007
Germany's Allianz S.E. is entering the Kazakhstan market by acquiring ATF-Polis, one of the country's leading insurance companies, the Munich-based insurer announced.
ATF-Polis is among the top five insurance companies in Kazakhstan, with gross premiums written of USD42 million in 2006, according to an Allianz press release. ATF-Polis is active in property/casualty lines and has a well-developed sales network in both urban and regional areas.
"By entering Kazakhstan now we will ensure our position in this interesting market," commented Werner Zedelius, an Allianz board member who is responsible for growth markets.

15/09/2007
Prime Minister of Kazakhstan Karim Massimov has received today chairman of the board of JSC Holding Samruk Richard Evans and its CEO Kanat Bozumbayev.
The premier assigned the directorship of the holding with a task to form more effective national asset management system and enhance the level of corporate governance of the company.
"The head of the Government set up the problem aimed at development of the Holding Samruk and we will do our best to solve it", Mr. Bozumbayev said. 17/09/2007

7/06/2007
Belarus and Kazakhstan decided to increase trade turnover to one billion dollars in 2008, thus trebling it from the 2006 level. This task was set forth during the 4th meeting of the Belarusian-Kazakhstani inter-governmental commission on trade and economic cooperation in Minsk on Wednesday. It is planned that this aim will be reached, first of all, by expanding and developing bilateral contacts, Belarusian co-chairman of the commission, Deputy Prime Minister Ivan Bambiza said.

28/05/2007
A presentation of Ashgabad-Almaty flight was held in Almaty. Vice Minister of Transport and Communications of Kazakhstan Azat Bekturov and heads of the Almaty international airport JSC participated in the presentation, the MinistryТs press service reports. The Turkmen side was headed by the deputy director of the Turkmenkhovayollary (Turkmenistani Airlines) National State Service.
Turkmenistan became the initiator of the air communicationТs renewal, which was interrupted ten years ago. The request and foundation on renewal of the air service were made in accordance with requirements of the air transport agreement between Kazakhstan and Turkmenistan. 30/05/2007

14/05/2007
Russia, Kazakhstan and Turkmenistan agreed to build a gas pipeline along the Caspian coast and will sign the deal by September 1, a joint declaration of the three presidents said Saturday. The pipeline will run from Turkmenistan along the Caspian coast of Kazakhstan and on to Russia, the sole re-exporter of the Turkmen gas. It is a rival project to a U.S.-sponsored Trans-Caspian pipeline across the Caspian Sea to carry Turkmen gas to southern Europe bypassing Russia.

28/04/2007
Prime Minister of Kazakhstan Karim Massimov has surveyed the construction progress of the ever-first autobahn of Kazakhstan, Astana-Shchuchinsk, bridging the capital and Borovoye resort area. The estimated carrying capacity of the new road will amount to 40 000 cars per day.

18/04/2007
President of Kazakhstan Nursultan Nazarbayev is expected to receive the heads of the governments of the EurAsEC member countries today in Akorda residence.The EurAsEC is an international economic organization.

16/03/2007
Kazakhstan's state-run company "Kazaeronavigatsia" has chosen software productions of an Azerbaijani scientific and production company, R.I.S.K. Kazakhstan became the fourth country in the world after Latvia, Azerbaijan and Estonia successfully implementing PANDA software solutions. The software innovations, R.I.S.K. Company introduces, aims to provide effective realization of aeronautical tasks of the "Kazaeronavigatsia" State Enterprise.

4/03/2007
The last year export of the Kazakh farm products and food commodity for the first time hit USD 1.3 bln, Agriculture Minister Akhmetzhan Yessimov told at republican session in the Ukimet Uyi. Kazakhstan becomes the world's seventh grain exporter with 6.2 mln tons of import figures and ranks the third in flour exports.

10/02/2007
Kazakh Minister of Justice Zagipa Baliyeva informed of the course of property legalization in the state. According to the Minister, about 800 thousand applications for property legalization have already been handled. About 500 thousand of the real estate objects were legalized. Total sum of the legalized property amounted to KZT 71.8 billion. Earnings to the budget made up KZT 518.1 million. Currently the Ministry is holding the explanatory work on the problems of the property legalization.

1/02/2007
The 37th annual summit of the World Economic Summit took place January 24 - 28 in Davos, Switzerland. The subject of the forum is the "misplaced balance of forces". Such issues as the global warming, the Asian economic forum, the transformation of the Islamic community in South East Asia, the automation of the industry and the business development in the Internet, as well as the situation in Iraq and the Middle East. 2,400 from 20 world countries participated in the summit. The Kazakhstani delegation was headed by Vladimir Shkolnik, deputy head of the presidential administration of RK. Bahtikoja Izmuhambetov, Minister of Energy and Mineral Resources of RK, and Zhanar Aitzhanova, deputy minister of industry and trade, made part of the delegation.

18/01/2007
The volume of investments into the extraction of minerals has grown 17.5% in Kazakhstan in 2006 and amounted to $14.8 billion. The share of the foreign investments remained at the level of 80%. 83% of the total volume of investments into the extraction were made into the production of minerals.

7/01/2007
The Head of State received Board Chairman Gregory Marchenko of the People’s Bank of Kazakhstan.
Situation in the financial sector of the country, outcomes of the last year for People’s Bank and for the country’s financial sector were discussed during the meeting.
The Head of State congratulated the collective of People’s Bank on the successful Initial Public Offer performed by the Bank on the London Stock Exchange. 7/01/2007

21/12/2006
The commodity circulation between Kazakhstan and China will double in 2015, President of Kazakhstan Nursultan Nazarbayev made it public during his speech at the Academy of the Social Sciences in Beijing.
The volume of the two-way trade between the countries is expected to hit USD 8 billion by the end of 2006. - Our main target is to enhance this rate up to USD 15 billion in 2015, Nazarbayev said.
- Though it is not a big deal for China, Kazakhstan makes a point of these figures since 10 years ago trade indexes between the states amounted to nothing, the Kazakh leader added.

15/12/2006
December 14, 2006 -- Kazakhstan and Ukraine today said they were interested in developing joint nuclear projects.
Those could include Ukraine's participation in the construction of nuclear power plants in Kazakhstan.
The plans are outlined in a joint statement signed in Astana today by Kazakh Prime Minister Daniyal Akhmetov and his Ukrainian counterpart, Viktor Yanukovych.

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