This week in Central Asia, notable developments include the opening of a new technology center by Wabtec in Kazakhstan, the debut of a Kazakh film at the Locarno Film Festival, and significant investment news from Uzbekistan's TBC Bank. Read on for more updates on trade, technology, and cultural advancements in the region.
Kazakhstan
American logistics leader Wabtec opens Technology and Engineering Center in Kazakhstan
Wabtec, a leading American logistics company, is opening a Technology and Engineering Center in Kazakhstan. This new center will contribute to the development of locomotive technologies and reduce response times. A team of 50 design engineers and technologists, supported by global experts, will work on this project. The team will lead the development of next-generation eco-friendly technological products, ensuring future regional growth while reducing carbon emissions.
Source: tengrinews.kz
Kazakh film Joqtau selected for Locarno Film Festival Competition
The debut film of Kazakh director Aruan Anartay, Joqtau, has been selected for the competition program of the Locarno Film Festival. The Swiss film festival is one of the largest and ranks among the top five venues in the global film industry.
Source: inform.kz
Kazakhstan and Uzbekistan aim to boost mutual trade volume to $10 billion
Kazakhstan and Uzbekistan account for 57% of all trade in Central Asia. Last year, trade turnover between the two countries reached $4.5 billion, and in the first four months of 2024, the volume exceeded $1.2 billion.
Source: zakon.kz
Uzbekistan
TBC Bank Uzbekistan attracts record $38.2 million in investments
TBC Bank Uzbekistan has secured a record $38.2 million in investments. Of this, $23 million will be provided by its parent company, TBC Bank Group, with an additional $7.6 million each from the International Finance Corporation and the European Bank for Reconstruction and Development. The neobank plans to use the funds to expand its loan portfolio and launch new products and services, including for micro and small businesses.
Source: tbcbank.uz
Yandex Uzbekistan to open office in Tashkent
Yandex Uzbekistan has announced plans to open an office in Tashkent this fall. This will allow the company to expand its staff, accelerate the launch of new services, and enhance existing ones. Following the office opening, Yandex plans to start internships to train young IT specialists.
Source: gazeta.uz
Expansion of Kokand Free Economic Zone
The territory of the Kokand Free Economic Zone will be expanded by 210.4 hectares through the inclusion of lands from the city of Kuvasay. The new lands will be used for infrastructure development to attract investments and create new jobs. This project aims to attract investments of at least $1 billion by the end of 2026, create over 11,700 new jobs, and launch production capacities worth $965 million annually.
Source: spot.uz
Sojitz Corporation opens office in Tashkent
Sojitz Corporation, a major Japanese trading and investment company, has opened an office in Tashkent. The company operates in more than 50 countries, engaging in energy, infrastructure, transportation, real estate, and chemical industries. In Uzbekistan, Sojitz plans to establish a multipurpose medical center with 800 beds based on a public-private partnership. The construction of the $300 million clinic is scheduled to begin in 2025.
Source: spot.uz
Tourist ring planned in Fergana region
A tourist ring is being planned in the Fergana region to extend the stay of tourists from three to seven days and double the number of tourist sites. The route will include attractions in the Fergana, Altyaryk, Kuva, and Uchkuprik districts, offering 50 types of services at 577 points. Additionally, plans include an international research center named after Burkhanuddin Marghilani, a theater of makom art, a legal institute, and a poets' and artists' alley. The project will also feature four hotels, shopping complexes, and a park.
Source: spot.uz
Kyrgyzstan
Renovated domestic flights departure hall opens at Manas airport
The renovated domestic flights departure hall at Manas International Airport has opened following major renovations. The new hall includes spacious and comfortable rest areas and a mother-and-child room.
Source: 24.kg
Uzbek-Kyrgyz development fund capital increase discussed
During an official meeting, officials discussed the current state and future directions of Uzbek-Kyrgyz cooperation in trade and economic spheres. They exchanged views on developing new promising joint industrial cooperation projects and other areas of mutual interest. They also reviewed the activities of the Uzbek-Kyrgyz Development Fund and the implementation of current projects, as well as the possibility of increasing the fund's capital to $200 million.
Source: 24.kg
Tajikistan
World Bank group opens permanent office in Tajikistan
The permanent office of the World Bank Group has opened in Tajikistan. The office head will oversee programs of the International Bank for Reconstruction and Development/International Development Association, International Finance Corporation, and Multilateral Investment Guarantee Agency in Tajikistan, providing a single contact point for access to the full range of World Bank Group products and services.
Source: asiaplustj.info
Tajikistan allows entry through e-gates without document stamps
Citizens of Tajikistan, foreign nationals, and stateless persons can now pass border control using electronic gates. When entering with this system, no corresponding stamps are placed in the documents granting the right to cross the state border.
Source: avesta.tj
