Following the announcement of its WTO accession in July, Kazakhstan is due to become an official WTO member in mid-December, a development that could significantly boost foreign investment and trade in the country. Within the energy sphere, Uzbekistan is set to invest $889 million in hydropower plants and Kazakhstan is planning to commission 106 energy facilities, both by 2020. In this week’s deals, East Kazakhstan and Chinese businesses sign agreements worth $1.7 billion and Putin travels to Tehran as Russia looks to secure $21 billion worth of export deals with Iran.

Kazakhstan has announced plans to sell off state-owned stakes in 43 large state firms during 2016-17 as part of President Nazarbayev's ambitious privatisation programme. Continuing the recent flurry of investment forums, Turkmenistan sought to attract foreign investment at its own forum last week, with representatives of the EBRD, IDB and Turkish-Turkmen Business Council in attendance.

Following last week’s Investment Forum in Tashkent, Uzbekistan has signed over 100 agreements and memorandums worth over $12 billion with foreign companies and banks, whilst the country’s president receives LUKOIL president Vagit Alekperov. In Kazakhstan, the government is looking to establish a special Islamic Finance company as the country also signs agreements with France’s Peugeot Citroën and EDF. Meanwhile in Iran, the country’s National Petrochemical Company and Mitsubishi discuss ventures, as Japanese firms aim to tap into the commercial potential of the Iranian market

In a week that has seen the announcement of billions of dollars’ worth of investment into the Central Asian region, China will invest $600 million in the infrastructure of an Uzbek special economic zone while the EBRD will provide €65 million for 200 modern buses for Astana.

Japanese PM Abe has been busy this week, signing billions of dollars’ worth of deals with Turkmenistan, Kyrgyzstan and Uzbekistan, as the Japanese Mitsubishi UFJ Financial Group also signs a $1.5 billion loan agreement with the Kazakh National Welfare Fund. Meanwhile, Kazakhstan is considering imposing a fine of up to $2 billion on the BG-Eni joint venture in view of the companies’ failure to fulfil contractual obligations.

World-renowned scientists attended the International Congress “Prospects of development of the countries of Central Asia in the XXI century” organized by the International Ataturk Alatoo University in Bishkek.

October is proving an active month for Turkmenistan, with the announcement of plans to commission 428 large industrial facilities in the country in 2016 as construction on the East-West gas pipeline approaches completion. In Kazakhstan, although OPEC has downgraded its forecast for Kazakhstan’s 2016 oil production since its September forecasts, KazAtomProm has signed a memorandum of cooperation with US company Centrus Energy in the area of nuclear energy.

This edition contains the latest news in mining sphere of Kyrgyzstan. Prepared by specialists of Kalikova & Associates law firm.

There was developed a brochure "The taxation in Eurasian Economic Union" within the "USAID Business Growth Initiative" project on assistance to the State Tax Agensy on improvement of value added tax (VAT) administration system.

Local companies presented their investment projects in agribusiness, mining, construction, logistics and trade, finance and tourism to potential investors at the Second Issyk-Kul 2015 Economic Forum. The event was organized by the Investment Promotion Agency under the Economy Ministry of Kyrgyzstan on August 26 at the Ruch Ordo Cultural Center in Cholpon-Ata, Issyk-Kul province.

"We must start not with the attraction of new investments, but with resolution of the problems of those investors who are already working in Kyrgyzstan. Every year, the number of lawsuits between the companies and public authorities are growing, and, unfortunately, most decisions are not in favor of Kyrgyz government."

Kyrgyzstan and Turkmenistan have great potential for development of bilateral cooperation in trade, economic and cultural spheres, said Deputy Prime Minister of Kyrgyzstan Valery Dill at Kyrgyz-Turkmen business forum held on August 4 in Bishkek.