print logo

Eurasian Business Briefingpublic sector investment

Beijing authorises $15bn investment in Chinese transport infrastructure

Beijing- Hangzhou Grand CanalChinese transport infrastructure:  China’s National Development and Reform Commission (NDRC) yesterday gave the green light to eight infrastructure projects, with a combined value of around $15bn as Beijing (more…)

xinhuanet Read More»

Moscow increases subsidies for Russian auto industry

Russian auto industryMoscow is to increased subsidies for the beleaguered Russian auto industry from RUB10bn to RUB15bn, it announced on Friday, after year-on-year sales of passenger and light commercial cars fell by 37.7% in May. The government also continues to support the industry through subsidies for interest rates on car loans. 

The Moscow Times Read More»

Russian Railways promised $1.2bn for major infrastructure projects

Baikal to Amur railway

The Baikal to Amur spur of the Trans-Siberian railway

Russia’s government has pledged to increase the charter capital of state railroad monopoly Russian Railways by $1.2bn to help the giant corporation carry out a series of investment projects – including the modernization of the 100-year-old Trans-Siberian Railroad and of its Baikal-Amur spur; and (more…)

The Moscow Times Read More»

Subsidies for Russian car industry announced as high interest rates cripple sales

Car Factory RussiaSubsidies for Russian car industry: Russia’s Ministry for Trade and Industry today announced that it was to allocate RUB1.5 bn ($26m) to support the struggling domestic car industry, including subsidies aimed at countering the effect of high interest rates that have virtually brought the auto loan market to a halt. Last month, annualised sales fell by 38% (more…)

The Moscow Times Read More»

United Aircraft Corporation promised $1.7bn cash injection

United Aircraft CorporationRussia’s largest aircraft manufacturer, the United Aircraft Corporation is to be given an RUB 100bn ($1.7 billion) capital boost from the government to stimulate production of passenger airliners, President Vladimir Putin announced on Friday. The move comes as Russia looks to reduce tits dependence on imported aircraft and (more…)

The Moscow Times Read More»

Tajikistan builds new town in the desert in northern Sughd province

Tajik President inspects plans for Saikhun new town

Tajik President inspects plans for Saikhun new town

Tajikistan builds new town in the desert: Tajik President Emomali Rakhmon yesterday attended a ceremony to mark the start of construction of Saikhun, a new town in a desert area close to Khujand in the country’s northern Sughd province.The new town (more…)

Times of Central Asia Read More»

199 Russian companies listed for state aid

MegaFon Alrosa Dixy Group Uralkali Lukoil Rosseti

199 Russian companies listed for state aid: Russia’s Ministry for Economic Development yesterday published a list of 199 major companies that it considers of strategic importance and therefore eligible for state aid. The list includes

  • Aerospace: United Rocket and Space Corporation (URSC)
  • Agribusiness & Fertilisers: Rusagro, Uralkali and Acron 
  • Airlines: Siberia Airlines, Ural Airlines, UTAir, Aeroflot and Transaero
  • Airports: Domodedovo, Pulkovo and Sheremetyevo
  • Automotive: KamAZ, Renault and Sollers
  • Construction & Real Estate: Inteko, SU 155
  • Energy: Rosatom, Rossetti, Gazprom, Lukoil, Rosneft, Novatek and Transneft
  • Metals & Mining: Severstal, Evraz, Alrosa, Mechel, Rusal and Norilsk Nickel
  • Retail: X5, Auchan, 36.6, Protec, Dixy Group, M. Video, and Metro Cash & Carry
  • Telecoms: Vimpelcom and MegaFon
  • Transport: Russian Railways

The multi-sectoral AFK Sistema holding company and the Mail of Russia postal services are also on the list.The profits from these 199 firms accounted for 70% percent of the country’s gross national income and employed over 20% of the country’s workforce, the ministry said. They would therefore be given priority in seeking state aid, although it is not yet clear under what criteria. The Moscow Times, Rosbalt

Read More»

$21bn Russian anti-crisis plan prioritises mono-towns and banks

Russia's Deputy Prime Minister Igor ShuvalovRussian anti-crisis plan: Russia’s First Deputy Prime Minister Igor Shuvalov this week outlined details of the government’s multi-billion dollar plan to revive the country’s flagging economy. Top priority – and around $4.55bn – is to be given to revitalising and restructuring those ailing enterprises and industries which are the only source of employment in the so-called mono-towns that have grown up around their operations such as Togliatti (automotive) and Astrakhan (fisheries); (more…) Read More»

Uzbekistan announces $48bn investment programme

Map of Uzbekistan Uzbekistan announces $48bn investment programme: Uzbekistan’s Cabinet of Ministers today (January 27) unveiled plans to invest $38bn over the next five years in a total of 870 projects and a further $10bn in transport infrastructure. The investment program includes the creation of 415 new high-tech enterprises, as well as the modernisation, technical and technological renovation of 455 existing industrial enterprises dedicated to the production of export-oriented goods including textiles, polymers, hydrocarbons, (more…) Read More»

Russian banking system promised $15bn safety net by Medvedev

Dmitry Medvedev Russian Prime Minister

Russian Prime Minister Dmitry Medvedev

Shutterstock

Russian banking system:  Russia’s Prime Minister Dmitri Medvedev has pledged to give the country’s banks RUB1 trillion (almost $15bn) to help them cope with the fallout from the substantial drop in oil prices and the resulting decline of the rouble. The funds are to be channelled through the Contribution Insurance Agency that guarantees returns to deposit holders, and will only be made available to banks with a minimum capital of RUB2bn. rbth Read More»

Kazakh mining industry to enjoy KTZ 1.3tr investment in 31 projects

Iron Ore mine KazakhstanThe Kazakh mining industry is to benefit from KTZ1.3 trillion worth of investment over the next three years, the chairman of the country’s ERG Research Engineering Centre said today. The money is to be channelled into 31 projects. Speaking at the CIS Sustainable Mining Forum in Astana, he added that Kazakhstan had the 13th largest mining sector in the world and the sector contributed around 12% to the country’s GDP he added. Kapital.kz   Read More»

Kazakh energy sector earmarked for $42bn investment

Bakhytzhan Zhaksaliyev Vicemin energy kazakhstaKazakh energy sector : Some $42.2bn is to be invested in Kazakhstan’s energy sector between 2016 to 2030,the country’s Vice Minister of Energy Bakhytzhan Zhaksaliyev said last week.”Our plan include the reduction in the number of deteriorated electric power equipment in Kazakhstan… and ensuring the independence and self-sufficiency of the unified energy system of Kazakhstan by 2030,” he told the Innovations in Energy – Kazakhstan 2050 forum on Friday. akipress   Read More»

Kazakh single-industry towns to get government help

Petra Wijnesma

Petra Wijnesma

Zhanatas Single Industry Town urban desolation

Kazakh single-industry towns: Kazakhstan’s  Interdepartmental Commission for Regional Policy yesterday approved a three-year plan focussing on the sustainable development of the country’s so called “monotowns”- towns that have grown up around a single industry or company but which have now sunk into economic decline. (more…) Read More»

Nazarbayev announces investment in schools, utilities and SMEs

Nazarbayev economic plan: Kazakhstan’s President Nursultan Nazarbayev plans to channel $3bn each year for the next three years from the country’s National Oil Fund into the country’s education, utilities and SME sectors. Nazarbayev usually publicises his economic intentions at the turn of the year, but has bought this forward due to the “ongoing geopolitical crisis and sanction politics of the world powers.” $386m is to go towards the repair of the country’s secondary schools; $110m to increase the number of kindergartens; $1.1bn towards the modernisation of the utilities infrastructure each year; and $552m to low-interest loans to both SMEs and larger enterprises. Times of Central Asia     Read More»

Russian-Kyrgyz Development Fund to be established

Russian-Kyrgyz Development Fund: The Russian and Kyrgyz governments have agreed to establish a Development Fund to promote economic cooperation between the two countries. The fund will focus on modernising and developing Kyrgyzstan’s economy, and to maximise opportunities arising from Eurasian economic integration. Rosbalt

    Read More»

Crimean railways investment plans increased by $3bn

Crimean railways investment: The Russian Ministry of Transport is proposing to invest a further RUB135bn in Crimea over the next 5 years putting yet further pressure on Russia’s already strained federal budget. The majority of the funds would go toward developing Crimea’s railroad, particularly the reconstruction and modernization of 629 kilometers of existing track. The Moscow Times     Read More»

Azeri high-tech sector to develop cutting-edge chip production

Azeri high-tech sector: Azerbaijan’s government has announced that it is to allocate $7m to its ICT sector for the development of state-of-the-art chip production facilities. The initiative will be spearheaded by the Advanced Technology Research Centre of the Communications and High Technologies Ministry which is is now investing its training capacity. The aim is to free Azerbaijan’s ICT sector from the need to import chips for the production of telephone handsets, LED light sources, micro and nano-electronic devices, biological systems, and certain defence projects. Overall investment in the development of the ICT sector in Azerbaijan is expected to rise to $4 billion by 2020. Azernews   Read More»

Kazakh light industrial sector in modernisation drive

Kazakh light industrial sector The Kazakh government is embarking on a 5-year plan to modernise the country’s light industrial sector. Its principle focus will be on the improvement of local content, public procurement and the availability of skilled workers as well as on encouraging innovative and scientific development and taking measures to ensure the financial rehabilitation and recovery of the industry. Astana Times “   Read More»

Crimean Special Economic Zone approved to attract investment

Crimean Special Economic Zone: The Russian Cabinet yesterday approved the establishment of a free economic zone in Crimea to attract investors who will be eligible for tax breaks lasting up to 10 years. Administrative barriers are also to be lowered for business start-ups and the government is planning to pump around $1.6bn plus a further $1.2bn on an annual basis to develop its energy and transport infrastructures and its healthcare and educational systems, making Crimea Russia’s most highly subsidised region. The Moscow Times Read More»

Azerbaijan wine industry gets government funding

Azerbaijan wine industry: The government in Azerbaijan is to put funds into the development of the country’s winemaking industry, its Economy and Industry Minister Shahin Mustafayev announced earlier this week. The investment will be directed towards the grape-growing regions around Aghsu, Goychay and Shamakhi in the foothills of the Caucasus mountain range. Azernews     Read More»