KAZ Minerals decreased copper output by 2.3% last year
However, the company has gone beyond the production target
Central Asia
Bankrupt people won’t be able to leave Kazakhstan for three years
Those people who have been determined by the court as bankrupt people will be not able to leave the country over the three years after that procedure. They will also be severed from loans throughout five years, according to the draft law on reestablishing debtor solvency and bankruptcy of citizens…
People ask new social fund in Kazakhstan to buy them apartments and cars
The new fund Kazakhstan Halkyna has received more than 13,000 requests. People want the fund to buy them housing and vehicles, pay for wedding banquets and other family events, and even repay loans, said the fund press service.
Foreign investors won’t be required to have employment quotas in Kazakhstan
The Ministry of Labor and Social Protection of the Population suggests changing rules regulating quotas for the foreign workforce. The government is planning for foreigners with investor visas to not be required to get permission for work in Kazakhstan as the authorities don’t want the investment attractiveness of the country…
Kazakhstan’s GDP demonstrates steady growth
In 2021 the country’s GDP grew by 4%. The real sector of the economy was the main driver of that steady economic growth. According to Prime Minister Alikhan Smailov, industrial output increased 3.8% last year.
Ministry of Energy denies plans to nationalize oilfield service companies
KazMunayGaz, the national oil and gas company in Kazakhstan won’t acquire oilfield service companies, according to the country's Ministry of Energy.
President Tokayev wants to set limits for landlords
President Kassym-Jomart Tokayev has ordered the government to determine the maximum area of land a person can own. A special team of experts has to get this task done by May 1.
National Fund of Kazakhstan loses money
In 2021, the National Fund of Kazakhstan’s assets decreased to $55.3 billion as the authorities withdrew $10.4 billion and put back just $6.2 billion, according to Galymzhan Pirmatov, the new head of the National Bank.
Samruk-Kazyna is going to save $232 million by staff reduction
According to Almasadam Satkaliyev, head of Samruk-Kazyna, the national wealth fund in Kazakhstan, the holding plans to cut staff in its companies and save about $232 million by the end of the year.
Kazakhstan’s banks report decreasing assets
Since the beginning of 2022, assets of Kazakhstan’s bank sector have decreased by $2 billion or 2.3% due to repurchase agreement operations. The loan portfolio of the sector has downsized by $1.151 billion or 2.5% which is also linked to repo transactions for $1.105 billion.
Kazakhstan adopts index of children’s well-being
Prime Minister Alikhan Smailov has approved the new index of children’s well-being. He’s ordered the Ministry of Education and Science to monitor the index throughout the year and add the index’s results to the national status report on children.
New mayor of Almaty does not mind a meeting against his appointment
The new mayor of Almary Erbolat Dosaev, who was appointed to the position on January 31, has authorized a rally that some residents of the city are going to organize on February 5. The only slogan of the rally is a demand to discharge the new mayor.
Kazakhstan may impose luxury tax
The country is considering an option of imposing a new tax on luxury, the Ministry of Finance’s press service reported.
Law enforcement officers arrest deputy head of Mangystau region
Galymzhan Niyazov, deputy head of the Mangystau region has been arrested by a local court for two months, according to the Interfax-Kazakhstan news agency.
Shymkent airport to be sold
The city of Shymkent that owns the Shymkent International Airport is going to sell 100% of the asset for $13.1 million. The bidding is scheduled for February 9; it’s going to be a transfer to discretionary management without a purchase option.
Ministry of Energy wants no intermediate sellers to take part in trading with fuel in Kazakhstan
According to Minister of Energy Bolat Akchulakov suppliers with no oil storage facilities aren’t reliable intermediate sellers.
Ex-executive of Kazatomprom becomes chairman of Kazakhstan’s National Bank
Galymzhan Pirmatov has been appointed to the position of chairman of the National Bank of Kazakhstan. His predecessor Erbolat Dosaev is now the new mayor of Almaty.
Tokayev believes that corruption is guilty in gap between Kazakhstan and Chinese statistics
There is a big difference between the statistical data of Kazakhstan and China over their mutual trade. President Kassym-Jomart Tokayev believes that the difference may reach billions of dollars even though no one can explain how this could have happened. The president addressed the issue at a meeting devoted to…
Dumping companies won’t participate in state procurements in Kazakhstan
Companies that rely on predatory pricing have to be cut from state procurements. President Tokayev made this statement at the meeting on fighting against corruption.
Americans to lead university in Kazakhstan
The country’s Ministry of Education and Science has published a draft rule of the government about passing over the North Kazakhstan University (NKU) named after Kozybayev under the governance of the University of Arizona (UA) as its subsidiary. The NKU is going to be under discretionary management for ten years…
Income duty may be removed for low-income citizens in Kazakhstan
Nur Otan deputies have suggested removing individual income tax for those who earn less than $276 a month. The request has already been sent to Eraly Tugzhanov, deputy prime minister of the country.
Staff changes continue in Kazakhstan’s parliament
At the extraordinary meeting of Mazhilis of Kazakhstan, Erlan Koshanov has been elected as a new chairman of the lower chamber of the country’s parliament. Nurlan Nigmatulin, a former chairman has voluntarily left the parliament.
How national currencies in Central Asia changed in January
In January 2022 the US dollar become a bit cheaper in Uzbekistan and more expensive in Kazakhstan and Turkmenistan. In Kyrgyzstan and Tajikistan, there were no changes in the exchange rates.
Almaty embraces new mayor
The new mayor of Almaty is Erbolat Dosaev, according to the Almaty Tragedy Telegram channel.