Carnelutti Russia

Newsletter Central Asia and the Caucasus July 2023

Enterprise Armenia launches new website with EBRD and EU support. Enterprise Armenia serves as Armenia’s national Investment Promotion Agency, directly reporting to the Prime Minister, and is an integral part of the Investment Support Centre, which is responsible for export promotion. EA’s primary focus lies in providing comprehensive services to both existing and potential foreign investors. These encompass furnishing vital information on Armenia’s business climate, investment opportunities, and relevant legislation and regulations. Click here to discover interesting business opportunity.

Shipments of gas from Azerbaijan to Italy via TAP pipeline decrease 2.4% in 1H. Gas shipments from Azerbaijan to Italy via the Trans Adriatic Pipeline (TAP) in June 2023 totaled 784 mcm, 14.6% less than in June last year.

Pakistan signs LNG procurement agreement with Azerbaijan, bolstering energy cooperation. This agreement aims to bolster energy cooperation and foster economic growth between the two countries.
Russia and Georgia: The 2023/24 Trade and Investments Dynamics. Russia and Georgia have endured a troubled past, due in part because of the short war in 2008 and the ensuing intermittent political tensions. Nevertheless, the two countries have maintained a certain pragmatic stability in bilateral relations. The backbone of these developing relations is the growing pace of economic cooperation.
The Caspian Pipeline Consortium (CPC) is set to increase the volume of oil pumping up to 81.5 Mln Tons/year within the CPC Debottlenecking Program (DBNP), the CPC’s press service reported on July 25. The CPC pipeline system is one of the most significant investment projects in the energy sector, with the participation of foreign capital in the Commonwealth of Independent States. Over two-thirds of Kazakhstan’s total oil volume is exported along this route.

President Tokayev sets out priority areas for closer Interaction between Gulf Countries and Central Asia. The Gulf countries have invested about 3.6 Bln Usd in Kazakhstan’s economy. Tokayev said Kazakhstan is keen to build investment ties, carrying out large-scale reforms to diversify the economy and create favorable conditions for foreign investments.

Kyrgyzstan’s 20 Mln Usd hydropower crypto mining facility. The move is expected to drive economic growth and position the country as a key player in the global crypto space.
The Eurasian Development Bank (EDB) will increase its investment portfolio in Tajikistan up to 3% of the total investment portfolio of the bank by this year-end. This includes seven grant and concessional projects from the Eurasian Fund for Stability and Development amounting to 215 Mln Usd. and six projects financed directly by the bank, totaling 51.4 Mln Usd. These projects span various sectors of Tajikistan's economy and have contributed to its development.
Fitch Affirms Turkmenistan at 'B+': Outlook Positive.
Uzbekistan to build five new hydroelectric power plants based on PPP. Uzbekhydroenergo estimates the projects at almost 107 Mln Usd, and their total capacity is 46 MW. All interested investors, both local and foreign, are invited to submit a request for qualification (RFQ) to participate in the project. Tender bidding is scheduled to begin in August, at the same time their details will be published.