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As of April 1, 2024, Kazakhstan’s external debt amounted to $162.5 billion, $0.2 billion less than at the start of the year, according to the National Bank.

This overall figure includes $13.3 billion in public external debt, $15.5 billion in external debt of banks and organizations controlled by the government, $2.8 billion in government-guaranteed external debt and $133.7 billion in private sector external debt.

The Netherlands ($42.7 billion), Russia ($12.9 billion), the U.K. ($12.4 billion), the U.S. ($11.7 billion) and France ($11.1 billion) are the five largest investors in Kazakhstan, followed by China ($9.5 billion) and Bermuda ($9.3 billion).

President of Kazakhstan Kassym-Jomart Tokayev has signed a law to address problem gambling. The law, «On amending some legal acts related to gambling, lottery activities, healthcare, state labor inspection, state control and removing excessive regulation,» prohibits public servants, military personnel and debtors from gambling and bans selling energy drinks to those under 21.

What will change with the new law?

According to the press service of the Akorda (the official residence of the president of Kazakhstan in Astana), the document has expanded the list of people prohibited from gambling and betting. Individuals on the Unified Register of Debtors have been...

The Ministry of Energy of Kazakhstan has officially commented on breaching the oil production quota set under an agreement with OPEC+. The ministry said that Kazakhstan will gradually offset oil overproduction in the first half of the year by September 2025.

«Kazakhstan confirms its adherence to the OPEC+ Agreement and supports decisions made in conjunction with OPEC+ member states. After the 37th ministerial meeting of OPEC+, Kazakhstan prepared a detailed plan to gradually compensate for overproduction in the first half of the year by September 2025,» the ministry said in a statement.

The agency noted...

Leaders of EU member states have agreed to suspend Georgia’s accession to the EU due to its Law on Transparency of Foreign Influence, which resembles the Russian foreign agent law in many ways, according to SOVA, citing EU Ambassador to Georgia Pavel Gerchinsky.

As the ambassador reported, presidents and prime ministers of EU member states met in Brussels on June 27 to discuss several important matters related to the future agenda, future EU leaders and support for Ukraine.

«Unfortunately, and I am sorry about that, they have also agreed to stop the process of Georgia’s accession...

According to Marat Karabayev, Kazakhstan’s minister of transportation, the Vietnamese Sovico Group is buying Qazaq Air for $4.17 million.

«We expect the deal to be closed by the end of September. There are several conditions under the contract. First, the company’s debt of $79.1 million must be paid off within a certain period. Second, the investor is obliged to register at least 20 aircraft to serve routes both within the country and abroad,» the minister said.

He also pointed out that the investor plans to acquire not 20 but 50 Boeing and Airbus aircraft. Currently...

A Chinese company is planning to purchase approximately 20,000 tons of pork annually from Kazakhstan. This announcement was made during a visit by representatives of the China Meat Association to an industrial complex operated by EMC Agro, a company controlled by Kazakhstani millionaire Yerlan Baymuratov.

«Kazakhstan is a country of opportunities. Today, one of the China Meat Association members stated that it plans to acquire 20,000 tons of pork per year from a Kazakhstani meat producer. We are also interested in mutton and beef,» said Ma Guangsheng from the China Meat Association.

He also emphasized...

According to Prime Minister of Kazakhstan Olzhas Bektenov, his cabinet plans to work with the NDC Partnership (a global coalition of more than 120 countries to fight climate change) to analyze the energy consumption of economic sectors in Kazakhstan over the period from 2021 to 2023.

«We are negotiating with the NDC Partnership to analyze energy consumption across economic sectors from 2021 to 2023,» the prime minister said in response to an MP’s inquiry.

As the official explained, the last time the government analyzed energy consumption in various sectors was from 2014 to 2022. At...

Crystal Management, a company controlled by Timur Kulibayev, will supply geological information on several oil and gas projects to a Chinese company.

Crystal Management was allowed to export data related to exploration projects, the testing of oil fields and the results of geological and seismic surveys (texts and graphic data). On July 1, 2024, the company obtained a corresponding license from the Geology Committee under the Ministry of Industry and Construction, signed by Chair of the committee Yerlan Akbarov.

Among the potential buyers of the geological information on several oil and gas projects is an oil company from Daqing. The...

The National Welfare Fund Samruk-Kazyna has revealed that it has acquired 50% stakes in three new thermal power plants (TPPs) in Kokshetau, Semey and Ust-Kamenogorsk via joint ventures specially established in conjunction with Samruk Energy. Although Samruk-Kazyna has not disclosed the other owner of the projects, some media outlets have previously reported that it might be Russian Inter RAO Export.

«The registered capital of the new companies was set at 400,000 tenge ($835), with 200,000 tenge from each side ($417). There are no special terms in the foundation agreements,» stated the press service of Samruk-Kazyna.

Kazakhstan plans to acquire advanced drones from Chinese company Suzhou Eavision Robotic Technologies Co. to protect crops. Kazakhstan’s authorities will also cooperate with the China Meat Association following the signing of two memorandums on agricultural cooperation. One of these memorandums is related to technical interaction between the country’s Ministry of Agriculture and Eavision, a Chinese drone manufacturer.

«The company is engaged in developing and manufacturing unmanned aerial vehicles and intelligent robots specially designed to operate outdoors. Intelligent machines and software by Eavision are used in many spheres, including agriculture. Under our agreement, we are going to...

Belarus has officially joined the Shanghai Cooperation Organization (SCO), becoming the tenth full-fledged member state of the organization.

«Belarus has become a member of the Shanghai Cooperation Organization. This decision was approved at the SCO Council of Heads of State,» the BELTA news agency reported on July 4.

Before that, President of Belarus Alexander Lukashenko revealed what kind of initiatives his country would promote if it obtained full-fledged membership in the SCO. He also thanked Kazakhstan for its cooperation and support of the Belarusian application.

According to Lukashenko, Belarus is interested in cooperation with all...

Iranian companies may engage in ambitious hydrotechnical projects in Kazakhstan. Minister of Water Resources and Irrigation of Kazakhstan Nurzhan Nurzhigitov and Energy Minister of Iran Ali Akbar Mehrabian discussed potential new projects on the sidelines of the SCO summit in Astana, the Ministry of Water Resources and Irrigation reported.

According to Nurzhigitov, Kazakhstan needs new dams after devastating floods this spring. This is why he invited Iranian investors to negotiate the issue. In turn, Iranian companies indicated that they could implement various hydro projects in Kazakhstan based on the design of the Bakhtiari Hydroelectric Plant in Iranian Lorestan, one of...

Zhaslan Madiyev, Minister of Digital Development, Innovations and Aerospace Industry, has announced that Kazakhstan has received a grant from China to develop its space industry. The two countries also signed a cooperation agreement in the space industry on the first day of the SCO summit.

As the minister wrote on a social network, Kazakhstan has received a 100-million-yuan grant to further develope its space industry. The funds are expected to be allocated according to specific goals outlined in a memorandum of understanding signed by both parties.

Madiyev also noted that several projects are under consideration. For instance, authorized agencies of...

President of Kazakhstan Kassym-Jomart Tokayev has proposed the preparation and adoption of a new agreement on trust in the military sphere. In his speech at the Shanghai Cooperation Organization (SCO), he primarily addressed security on the Eurasian continent, the president’s press service reported.

According to Tokayev, security is the top priority for the SCO:

«The current hurdles are the result of an acute crisis in the system of international relations. That is why the SCO should step forward and allocate more efforts to prevent further erosion of international law, new geopolitical rifts and, ultimately, to promote...

Chinese financial institutes will lend easy loans to the Development Bank of Kazakhstan (DBK) to implement several investment projects. The corresponding agreements were signed on July 2, on the sidelines of the Kazakh-Chinese Business Council meeting in Astana. It was held shortly before the Shanghai Cooperation Organization (SCO), the DBK’s press service reported.

Thus, the China Construction Bank in Astana will allocate $500 million in easy loans to the DBK. This money is expected to finance several investment projects, although neither side has revealed any details of the move.

Furthermore, the government-run China Development Bank will also lend $250 million...

The Global Tourism Perception Index (GTPI) in Almaty has risen by 9.8%, reaching 76.61. According to the Almaty mayor’s office, the main attractions for foreign tourists coming to the city are the mountains and nature.

«We analyzed the preferences of tourists visiting Almaty and have learned that most of them are coming for the mountains and nature (43%). Art takes second place (21%), followed by outdoor activities (17%), food (5%) and shopping (3%),» the Almaty authorities said in a statement.

The Almaty government also said that over the period from January to April, the number...

China supports Kazakhstan in its intention to join BRICS, an intergovernmental organization of Brazil. Russia, India, China and South Africa, the Kazinform News Agency reported, citing President of China Xi Jinping.

«China supports Kazakhstan’s joining BRICS. We are supporting Kazakhstan as one of the middle powers in the world,» said Xi Jinping during a press briefing after negotiations with President Kassym-Jomart Tokayev.

The Chinese president expressed his gratitude to the president of Kazakhstan for the warm welcome and assured him that China will always be a pillar of support for Kazakhstan.

President of China Xi Jinping is one of the high-ranking guests at the Shanghai Cooperation Organization (SCO) summit in Astana. Shortly before his travel to Kazakhstan, Xi wrote an article about the country, commenting on bilateral trade, the advantages of a visa-free regime and his commitment to defending Kazakhstan’s independence. Kursiv.media has gathered the most interesting quotes from President Xi’s article published by Kazinform.kz.

On the friendship between China and Kazakhstan

«Eleven years ago, I was in Kazakhstan when I announced the Belt and Road Initiative, which was hailed by many people in your country. Since...

The profitability of Kazakhstani banks’ capital reached a multi-year high of 34.8% in April 2024. This growth was driven by high real lending rates and rising net interest margins [the difference between the average lending rate and liabilities], according to the World Bank survey for June 2024.

«Banks in Kazakhstan have long enjoyed some of the highest profitability rates among similar resource-rich countries,» the WB said in the document.

Bank real lending to the economy increased by 14% in May compared to the same period last year, driven by consumer loans, which contributed...

According to Deputy Energy Minister Yerlan Akkenzhenov, Kazakhstan plans to gradually increase its oil exports to China.

«Currently, we export about one million tons of oil to China annually. We plan to gradually boost this export. Kazakhstan is also interested in this and we will try to meet this demand,» he said on the sidelines of the Kazakh-Chinese Business Council meeting.

Akkenzhenov told Kursiv that Chinese oil companies operating in Kazakhstan would like to increase their oil exports to China. Since Kazakhstani refineries buy oil at a price much lower than the export price, almost...

Alarko, a Turkish group of companies, is going to allocate $150 million for the construction of a greenhouse park with a floor size of 200 hectares in Shymkent. The company is already preparing for building and assembling work, Kazakh Invest reported.

The project commissioning is scheduled for 2026. Investors expect that once the construction of the greenhouse complex is completed, it will have a capacity of 50,000 tons of tomatoes per year, providing jobs for 1,750 people.

«Our company has been operating in Kazakhstan for the past 32 years. Kazakhstan has everything necessary – massive territory...

QazaqGaz will rely on Chevron’s assistance in its geological exploration of the Zhalibek gas and gas condensate field in the Aktobe region, the company’s press service announced.

The two sides have signed a cooperation agreement after close negotiations throughout the past twelve months. Given the high stakes of the deal, the signing ceremony was attended by Nurlan Zhakupov, CEO of the Samruk-Kazyna Fund (the parent company of QazaqGaz).

At the initial stage, Chevron is expected to thoroughly review existing seismic data to prepare technical interpretations. Both companies view the agreement as the first step towards potential broader cooperation.

President of Azerbaijan Ilham Aliyev has dissolved the country’s parliament, setting snap parliamentary elections for September 1.

«Subject to part 1 of article 981 and clause 1 of article 109 of the constitution of the Republic of Azerbaijan, I have decided to dissolve Milli Majlis [the parliament] of the sixth convocation,» the press service of the president reported, citing the president’s edict.

The context. Azerbaijan’s parliament of the sixth convocation was elected in 2020. In February 2024, there were snap presidential elections in the country, conducted due to the self-dissolution of the unrecognized Republic of...

In an interview with the Xinhua news agency, President Kassym-Jomart Tokayev revealed that he regularly reads in Chinese and speaks this language every time he meets with Chinese leader Xi Jinping.

«I always remember our meetings with President Xi Jinping with great fondness. We are used to discussing current issues and perspectives of strategic cooperation between Kazakhstan and China and sharing our opinions on the international agenda in a warm and trust-based environment. When I want to communicate important nuances or discuss interesting themes from day-to-day life, I switch to the Chinese language,» Tokayev highlighted.