Tengri Bank, AsiaCredit Bank and Capital Bank Kazakhstan will merge into one bank
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Islamic Development Bank to invest $1.15bn in Kazakhstan's water sector
The Head of State has repeatedly emphasised the importance of attracting investment in the water sector. We are facing the task of modernising and adapting water infrastructure to the ongoing climatic changes. Financing by such a reputable institution as the Islamic Development Bank demonstrates the high confidence in our country, the investment policy and the ongoing socio-economic reforms," Nurlan Baibazarov noted.
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Olzhas Bektenov: Business needs to feel confident and able to expand and invest in tomorrow
The President has clearly stated that opening the way for domestic businesses and investors is one of the priority tasks of the Government and all state bodies. Our goal is to create an economy in which business will feel confident and will have the opportunity to realise their ideas, expand and invest in the future. For this purpose, it is important that every entrepreneur can count on open and prompt interaction with government agencies. In the context of global challenges and rapid technological progress, it is necessary not only to develop mechanisms to support entrepreneurs, but also to actively diversify the economy. And here the role of business is paramount," Olzhas Bektenov emphasised.
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Olzhas Bektenov meets leading Chinese companies in Shanghai: $2.5bn agreements signed
Today the cooperation between our countries is developing on an upward path. In accordance with the task set at the highest level, we intend to double our mutual trade indicators in the near future. Kazakhstan and China have huge potential for the realisation of joint investment projects. Together we can open new horizons for interaction and increase the effectiveness of cooperation. To this end, we should actively work to expand transit opportunities, strengthen industrial cooperation and build ties between our business communities. The Government of Kazakhstan is ready to expand partnerships and build strong bridges between our nations. We will provide support to investors, creating favourable conditions for business and contributing to the success of each project. I am convinced that thanks to our joint efforts, new investment initiatives will give a powerful impetus to the development of the real sector of the economy, its diversification and improvement of the quality of life of our citizens," Olzhas Bektenov said.
- Agreement on cooperation between Samruk-Kazyna Invest LLP, QAZAQGAZ AIMAQ JSC and Goldcard Smart Group Co., Ltd. in the field of implementation of smart systems for the amount of $8 million. The project involves small-node assembly of gas meters on the territory of FEZ PIT ‘Alatau’ in Almaty from components supplied by GoldCard, taking into account the localisation of components;
- Agreement between Qarmet JSC and Zhengzhou Coal Mining Machinery Group in the field of production of equipment for coal industry on purchase of mechanised complexes for mines of the coal department of Qarmet JSC for the amount of $70 mln;
- Memorandum of Understanding on establishing the framework for investment cooperation between the Ministry of National Economy of the Republic of Kazakhstan, China State Investment Fund Silk Road Fund Co.Ltd. and Kazakhstan Investment Development Fund (KIDF) Management Company Ltd. for the amount of $552 million;
- Agreement between Qarmet JSC and Xinxing Ductile Iron Pipes Co., LTD on construction of a plant for production of high-strength cast iron pipes with spheroidal graphite with a capacity of 200 thousand tonnes per year in the Republic of Kazakhstan for the amount of $161 million. The products are intended for projects on construction, modernisation, reconstruction, expansion and renovation of facilities of the housing and communal system of the Republic of Kazakhstan;
- Agreement between Qarmet JSC and China Metallurgical Group Corporation to establish long-term and comprehensive cooperation in the mining and metallurgical industries for the amount of $1 billion;
- Agreement between Qarmet JSC and ACRE Coking & Refractory Engineering Consulting Corporation on implementation of the strategic project on modernisation of coke-chemical production and development of coal chemistry for the amount of $649 mln;
- Agreement between Qarmet JSC and Nanjing Fiberglass Research & Design on construction of a factory for production of mineral insulation from blast furnace slag in Temirtau for the amount of $30 million, with a capacity of 100 thousand tonnes of finished products per year and creation of 200 new jobs;
- A package of agreements between Saran Machinery LLP and Sinotruk International on cooperation in distribution and assembly of KDs, technology licensing and use of trademarks for the amount of $70 million. Among them is a Memorandum on the implementation of a project in Saran for the production of cargo and special-purpose machinery, under which it is planned to create about 1,000 new jobs in the future.
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Olzhas Bektenov and Li Xuechun, Head of Fufeng Group, discuss new project on deep processing of Kazakhstani agricultural products
Kazakhstan seeks to increase the production of products with high added value, and the construction of complexes for deep processing of grain is a priority. This is a strategic direction that allows us to diversify the economy and expand export opportunities. We have everything we need for this: infrastructure, raw material resources and government support measures. The project will be a good example of value-added creation in the agro-industrial sector and introduction of advanced technologies. The Government will provide the necessary support," Olzhas Bektenov said.
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Olzhas Bektenov and GE HealthCare head discuss project implementation on creation of medical equipment production in Kazakhstan
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Olzhas Bektenov discusses plans for further localisation of railway engineering in Kazakhstan with CEOs of US and French companies Alstom and Wabtec
The Head of State in his speech at the meeting of the Foreign Investors Council noted Kazakhstan's focus on strengthening the country's position as a key Eurasian transit hub. Special attention is paid to the development of the transport and logistics sector, infrastructure renewal and localisation of machine building in our country. We highly appreciate business initiatives aimed at localising production and are ready to support such companies. The implementation of such projects will allow Kazakhstan to become a hub for the production and modernisation of locomotives and integrate into the global supply chain," Olzhas Bektenov said.
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Agricultural machinery production is forecast to grow to 300 billion tenge in 2025
Next year, it is planned to allocate 200 billion tenge for preferential leasing of agricultural machinery for farmers at 4-5%. If even half of the funds were allocated in Kazagrofinance JSC from January, before the beginning of sowing works, and the second half in June, before the beginning of harvesting works, then two industries in the country - agro-industrial complex and agricultural machinery - would be guaranteed to work for the development of the country's economy," Kairat Yelamanov said.
This year's amendments to the Tax Code on VAT allowed us to establish a clear procedure for the sale of products along the entire chain from the manufacturer to the end customer. We managed not only to attract the world's leading companies for production, but also to reduce the price for buyers of equipment. At the moment we have already mastered operations on moulding of plastic parts of TV sets and water heaters, billetting, welding, enamelling and painting of parts of ovens, washing machines, cookers and hoods, as well as manufacturing of packaging," Kairat Yelamanov said.
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Prime Minister instructs to strengthen domestic machine building support and increase shares of Kazakhstani products in EAEU market
We should adhere to economic patriotism to actively buy our Kazakhstani products, promote them in foreign markets," Olzhas Bektenov emphasised.
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