Kazakhstan and other OPEC+ members to cut oil production

Images | Ant Group

Inbound tourism to China is experiencing a robust recovery, driven by a combination of government policies and private-sector initiatives like the International Consumer Friendly Zones program. These efforts have significantly alleviated challenges such as visa requirements, payment accessibility, and transportation capacity, making it easier for people to explore China," says Liu Yufeng, Deputy Secretary-General, World Tourism Alliance, a China-based international tourism organization that currently has 253 members from 45 countries and regions.

OCBC was the first Singaporean bank to offer global cross-border payment services through our own app via Alipay+, enabling our Singaporean customers to make payments easily at millions of merchants within Alipay+'s global ecosystem, including those in the Chinese mainland. As Alipay+ continues to expand its global services, we will keep improving our products and enhancing user experience, striving to gain recognition in even broader markets," says Ang Eng Siong, Chief Executive Officer, OCBC China.

We've been encouraged by the substantial growth in mobile payment adoption among international visitors and the resulting boost in transactions for our merchant partners, especially since the launch of the International Consumer Friendly Zones program. Ant Group is committed to further elevating inbound travel experience through technological innovation and partnerships," says, Cyril Han Xinyi, President and CFO, Ant Group.

Images | primeminister.kz

On the instructions of the Head of State, we are developing a national commodity distribution system with an appropriate infrastructure for storage and distribution of agricultural products. This will create the necessary conditions for the formation of an agro-food hub in our country. Deepening cooperation between Kazakhstan and Thailand in this matter is mutually beneficial and promising," Olzhas Bektenov stressed, noting the wide opportunities of Kazakhstan and Thailand in the implementation of relevant investment projects.

This morning we signed an agreement on economic interaction. I believe that this document contributes to the expansion of co-operation in various fields, including trade, economy and investment," Phumtham Wechayachai said.

When purchasing medicines, preferences for domestic manufacturers are actively used. With the use of this mechanism in the current year, the supply of 196 items of medicines in the amount of 29.5 billion tenge is carried out. TOP-10 manufacturers in the first half of this year increased the output of finished products under the purchase of the Unified Distributor. The total growth was 21%," Alnazarova said.

• To resume the financial leasing mechanism on the basis of KazMedTech JSC with priority purchase of domestically produced medical equipment.
• To increase the competitiveness of domestic pharmaceutical products, to exempt them from excise duties on ethyl alcohol used for the production of pharmaceutical products.

• use of the mechanism of conditional discount for domestic pharmaceutical companies with a higher share of local content when procuring by "tender" method;
• determination of the terms of validity of long-term contracts depending on the depth of localisation.

In the first 7 months of this year, 34,805 contracts were concluded with domestic producers, which is 58.1 per cent more than in the same period last year. The rules of cameral control of the Ministry of Finance are supplemented with a new risk profile. Now the results of purchases in which foreign goods are purchased instead of domestic ones are cancelled by the state audit bodies. In total, since April this year cancelled 8 purchases worth 25 million tenge," Takiyev reported.

• priority purchase of goods, works and services from suppliers who are in the register of domestic producers of goods;
• mandatory advance payment to domestic producers of goods in the amount of 30%, which allows suppliers to fulfil their contractual obligations in a timely and proper manner;
• exemption of domestic producers of goods from all types of collateral (security for advance payment, contract and anti-dumping measures);
• reduction of penalties (fines, penalties) for domestic producers of goods from 10 per cent to 3 per cent, which is also a significant support measure;
• procurement of goods subject to offtake contracts by single-source method in quasi-public sector procurement.

Within the framework of the new Law "On public procurement", adopted on 1 July 2024, there are additional measures aimed at supporting domestic producers of goods, works and services. Among them there is a further expansion of the list of exemptions from national treatment. As practice has shown, this mechanism of support for domestic producers is effective. In this regard, sectoral state bodies are invited to make more active use of the tool of establishing exemptions," the Minister of Finance said, stressing that the purchase of goods, works and services from SMEs in the order and volumes approved by the Ministry of Finance will support domestic small and medium-sized businesses and provide them with volumes of purchases.