Invest Kazakhstan by Embassy of Kazakhstan to the U.S.

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Meet Beibut, Rinat, Sasha, Nazym, Karina and Igor. They all have a stake in Kazakhmys because, like so many people in Kazakhstan, they benefit from our investment in the community. For example, their nursery in the city of Zhezkazgan is funded by Kazakhmys. We also finance the building of schools, hospitals and infrastructure: $88 million last year alone. Why? Because we believe in sharing our success with the nation that provides our resources. We are the world’s tenth largest producer of copper, and our processes are fully integrated from mining to finished metal. We also produce silver, gold and zinc. And with $2.7 billion worth of new finance in place, we’ve begun major growth projects to build on our success. Which is great news for Beibut and his friends. After all, what’s good for Kazakhmys is good for Kazakhstan. www.kazakhmys.com

Turning natural resources into national resources

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CONTENTS

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Overview

Banking and Core Services

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FOREWORD

6 7g^\]i ;jijgZ Nursultan Nazarbayev, President of the Republic of Kazakhstan

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FOREWORD

6 Higdc\ >ckZhibZci 8a^bViZ H.E. Erlan Idrissov, Ambassador of the Republic of Kazakhstan to the United States

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FOREWORD

Kazakhstanâ&#x20AC;&#x2122;s symbolic Baiterek Tower in Astana. At the top of the viewing tower is a gold plate with the imprint of the hand of President Nazarbayev

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FOREWORD

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CZl Deedgijcî^Zh H.E. Kairat Abusseitov Ambassador of the Republic of Kazakhstan to the U.K. 6 L6GB L:A8DB: id i]Z gZVYZgh d[ i]Z Ò[i] ZYî^dc d[ >ckZhi ^c @VoV`]hiVc ejWa^h]ZY Wn CZlhYZh` BZY^V <gdje# > ldjaY a^`Z id iV`Z i]^h deedgijcîn id cdiZ i]Z ^bedgiVci gdaZ i]^h ejWa^XVi^dc eaVnh ^c Vhh^hi^c\ ediZci^Va ^ckZhidgh id Y^hXdkZg cZl deedgijcî^Zh ^c i]Z GZejWa^X d[ @VoV`]hiVc# I]Z \adWVa ZXdcdb^X Xg^h^h ]Vh XZgiV^can V[[ZXiZY i]Z ZXdcdbnÉh \gdli] gViZh! Wji î ]Vh cdi ]VaiZY i]Z XdjcignÉh YZkZadebZci Ä ^c '%%. i]Z <9E \gdli] lVh &#& eZgXZci# Dc ?VcjVgn &! '%&%! Vc ^bedgiVci bâZhidcZ lVh gZVX]ZY Ä Vc ZhiVWa^h]bZci d[ i]Z 8jhidbh Jc^dc d[ @VoV`]hiVc! Gjhh^V VcY 7ZaVgjh# I]Z h^c\aZ bVg`Zi d[ i]ZhZ Xdjcig^Zh Xdbeg^hZh V idiVa d[ &+% bâa^dc eZdeaZ# I]Z \dkZgcbZci ^h VXi^kZan ^ckdakZY ^c cZ\di^Vi^c\ XdcYî^dch d[ i]Z XdjcignÉh VXXZhh^dc id i]Z LdgaY IgVYZ Dg\VcôVi^dc! l]^X] lâa Vahd hZgkZ WZcZÒX^Vaan id i]Z ZXdcdb^X YZkZadebZci d[ @VoV`]hiVc# >c i]Z egZh^YZciÉh VccjVa VYYgZhh id i]Z cVi^dc! ZciîaZY ÆCZl YZXVYZ Ä cZl ZXdcdb^X \gdli] Ä cZl deedgijcî^Zh [dg @VoV`]hiVc!Ç i]Z bV_dg Zbe]Vh^h lVh dc i]Z 9ZkZadebZci HigViZ\n jciâ '%'%! ^c eVgi^XjaVg [dXjh^c\ dc egZeVg^c\ i]Z ZXdcdbn [dg edhi"Xg^h^h YZkZadebZci VcY VX]^Zk^c\ hjhiV^cVWaZ ZXdcdb^X \gdli]# >c i]^h [gVbZldg` i]Z \dkZgcbZci [dgbjaViZY V HiViZ Egd\gVbbZ [dg >cYjhig^Va">ccdkVi^kZ 9ZkZadebZci '%&&"'%&* VcY V YZiVâZY >cYjhig^Va^hVi^dc BVe d[ i]Z Xdjcign# I]ZgZ VgZ

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OVERVIEW: INVESTING IN KAZAKHSTAN

AZVcZg! L^hZg! 7ZiiZg Kazakhstan has used the crisis to push forward ambitious reforms in banking and investments in infrastructure, writes Anthony Robinson @6O6@=HI6C =6H :B:G<:9 [gdb i]Z \adWVa ÒcVcX^Va Xg^h^h aZVcZg! l^hZg VcY h^\c^ÒXVcian WZiiZg"eaVXZY id Zmeadî Wdi] îh cVijgVa gZhdjgXZ lZVai] VcY îh g^h^c\ \Zd"edaî^XVa hiVijh# 6h dcZ d[ i]Z Òghi Xdjcig^Zh id WZ `cdX`ZY h^YZlVnh Wn i]Z \adWVa ÒcVcX^Va Xg^h^h! @VoV`]hiVc ]Vh ]VY adc\Zg i]Vc bdhi id \gVeeaZ lî] V \gdhhan dkZg"WdggdlZY VcY jcYZg"gZ\jaViZY WVc`^c\ hnhiZb hjYYZcan jcVWaZ id gZ" ÒcVcXZ )* Wâa^dc d[ [dgZ^\c Wdggdl^c\# I^bZ ]Vh cdi WZZc lVhiZY# I]Z Xg^h^h ]Vh WZZc jhZY id ejh] [dglVgY lî] higjXijgVa gZ[dgbh VcY VbWî^djh ^ckZhibZci egd\gVbh# 7Vc`h ]VkZ WZZc gZXVeîVaôZY VcY i]Z^g YZWih gZhigjXijgZY# =ZVkn ^ckZhibZci ^c \^Vci dâ VcY \Vh egd_ZXih Xdci^cjZY i]gdj\]dji i]Z Xg^h^h# Hd Y^Y i]Z WjâY^c\ d[ gdVYh! gVâlVnh! edlZg a^cZh! edgih VcY cZl eêZa^cZh [gdb i]Z dâ"g^X] LZhi id ZcZg\n"]jc\gn 8]^cV# 8dci^cj^c\ \gdli] ^c 8]^cV ]ZaeZY d[[hZi i]Z hiZZe YZXa^cZ ^c YZbVcY [gdb ZahZl]ZgZ [dg ZcZg\n VcY bZiVah! l]^X] hiâa [dgb bdgZ i]Vc ,* eZgXZci d[ Zmedgih# :Xdcdb^X \gdli] gZhjbZY ^c i]Z aVhi fjVgiZg d[ '%%. VcY ]Vh higZc\i]ZcZY h^cXZ lî] i]Z gZXdkZgn d[ dâ VcY XdbbdYîn eg^XZh VcY i]Z \adWVa ZXdcdbn \ZcZgVaan# @VoV`]hiVcÉh iZX]cdXgVi^X \dkZgcbZci! ]ZVYZY Wn Eg^bZ B^c^hiZg @Vg^b BVhh^bdk! l]d heZV`h BVcYVg^c VcY 6gVW^X! Vh lZaa Vh ÓjZci :c\a^h] VcY Gjhh^Vc! gZhedcYZY id i]Z Xg^h^h Wn YZkVaj^c\ i]Z iZc\Z ^c ;ZWgjVgn '%%.! YgVl^c\ &. Wâa^dc [gdb XZcigVa WVc` gZhZgkZh VcY i]Z CVi^dcVa dâ ;jcY id ÒcVcXZ hi^bjajh heZcY^c\ Ä VcY ijgc^c\ id 8]^cV! Hdji] @dgZV VcY i]Z <ja[ hiViZh [dg ^ckZhibZci [jcY^c\# EgZh^YZci CjghjaiVc CVoVgWVnZk Wgdj\]i WVX` <g^\dg^ BVgX]Zc`d! dcZ d[ i]Z bV^c VgX]îZXih d[ WVc`^c\ VcY eZch^dc [jcY gZ[dgbh! id ]ZVY i]Z XZcigVa WVc` VcY ejh] i]gdj\] V idj\] WVc` gZhigjXijg^c\# ;gZZ" aZcY^c\ [dgZ^\c XgZYîdgh lZgZ idaY i]Vi i]Z hiViZ ]VY cd ^ciZci^dc d[ WVâ^c\ i]Zb dji# 9ZWi gZhigjXijg^c\ ^bedhZY hjWhiVci^Va Æ]V^gXjihÇ dc XgZYîdgh l]âZ adXVaan"dlcZY ÆhnhiZb^XÇ WVc`h ]VkZ WZZc gZXVeîVaôZY lî] hiViZ [jcYh# Ild gZhigjXijgZY WVc`h `Zei Va^kZ i]gdj\] eVgi^Va gZXVeîVaôVi^dc Wn i]Z hiViZ! 7I6 VcY 6aa^VcXZ! VgZ cdl [dg hVaZ! l]âZ HVbgj`"@VoncV! i]Z hiViZ ]daY^c\ XdbeVcn X]Vg\ZY lî] [jcY^c\ i]Z WVc`h! ZmeZXih id WZ gZeV^Y WZ[dgZ adc\ Wn i]Z di]Zg ild W^\ eg^kViZ WVc`h! =Van` VcY @Vo`dbbZgio# I]Z idj\] a^cZ lî] XgZYîdgh gZÓZXih jcYZgan^c\ XdcÒYZcXZ i]Vi i]Z XdbW^cVi^dc d[ b^cZgVa lZVai]! V YZkZadeZY ÒcVcX^Va hnhiZb! VcY V gZaVi^kZan hiVWaZ edaî^XVa hnhiZb XdbbîiZY id ZXdcdb^X! hdX^Va VcY ^chiîji^dcVa gZ[dgb lâa Xdci^cjZ id ViigVXi [dgZ^\c

>CK:HI >C @6O6@=HI6C '%&%

Kazakhstan’s central bank chairman, Grigory Marchenko, was rehired by President Nazarbayev to push through tough bank restructuring

OVERVIEW: INVESTING IN KAZAKHSTAN

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OVERVIEW: INVESTING IN KAZAKHSTAN

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>CK:HI >C @6O6@=HI6C '%&%

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OVERVIEW: THE ECONOMY

7VX` id <gdli] As Kazakhstan emerges from the economic slowdown, the country is moving from strength to strength and is working to diversify and industrialize its economy. Clare Nuttall reports I=: JEIJGC >C XdbbdYîn eg^XZh ^c aViZ '%%. lVh V Xdch^YZgVWaZ Wddhi [dg i]Z @VoV`] ZXdcdbn! ^bbZY^ViZan XgZVi^c\ XdcÒYZcXZ i]Vi i]Z Xg^h^h lVh dkZg# Lî] i]Z gZhigjXijg^c\ d[ YZWi Vi ild ide WVc`h! i]Z [djcYVi^dch VgZ cdl WZ^c\ aV^Y [dg [jijgZ \gdli]# I]^h dei^b^hb lVh k^cY^XViZY ^c i]Z Òghi fjVgiZg d[ '%&%! l]Zc VXXdgY^c\ id \dkZgcbZci YViV! <9E \gZl Wn ,#& eZgXZci nZVg"dc"nZVg# ÆI]Z bV_dg ZXdcdb^X Ò\jgZh VgZ edhî^kZ!Ç hVnh <g^\dg^ BVgX]Zc`d! \dkZgcdg d[ i]Z CVi^dcVa 7Vc` d[ @VoV`]hiVc! i]Z XZcigVa WVc`# @VoV`]hiVc ]Vh bV^ciV^cZY V ]^\] aZkZa d[ gZhZgkZh i]Vc`h id i]Z g^hZ ^c dâ eg^XZh# 6h d[ ;ZWgjVgn '%&%! i]Z XZcigVa WVc`Éh cZi gZhZgkZh lZgZ bdgZ i]Vc ',#* Wâa^dc! VcY i]Z CVi^dcVa ;jcYÉh gZhZgkZh bdgZ i]Vc '*#' Wâa^dc Ä idiVa^c\ *'#, Wâa^dc# I]^h lVh hdbZl]Vi ]^\]Zg i]Vc i]Z egZ"Xg^h^h aZkZa d[ ), Wâa^dc YZheîZ i]Z jhZ d[ CVi^dcVa ;jcY bdcZn id hjeedgi i]Z ZXdcdbn Yjg^c\ aViZ '%%- VcY '%%.# >c VYYî^dc id ^c_ZXi^c\ a^fj^Yîn ^cid i]Z ide [djg WVc`h! i]Z @VoV`] \dkZgcbZci! i]gdj\] i]Z HVbgj`" @VoncV hiViZ lZa[VgZ [jcY! Vahd egdk^YZY V bjai^" Wâa^dc YdaaVg hjeedgi eVX`V\Z# 9^gZXiZY Vi hZXidgh ^cXajY^c\ gZVa ZhiViZ! V\g^XjaijgZ VcY ^c[gVhigjXijgZ!

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OVERVIEW: THE ECONOMY

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OVERVIEW: INTERVIEW WITH THE PRIME MINISTER

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The Triumph of Astana

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OVERVIEW: INTERVIEW WITH THE PRIME MINISTER

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OVERVIEW: INTERVIEW WITH THE PRIME MINISTER

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Chinese President Hu Jintao (right) with Kazakhstan Prime Minister Karim Massimov. Kazakh-Chinese relations are good. China and Kazakhstan have reached an agreement over the joint management of MangistauMunaiGas

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OVERVIEW: INTERNATIONAL RELATIONS

9^eadbVXnÉh 9Za^XViZ 7VaVcX^c\ 6Xi Kazakhstan’s foreign policy promotes mutually beneﬁcial economic and political cooperation with all its neighbors. Now, as chair of the OCSE, Kazakhstan’s international relations are being examined. Joanna Lillis reports

U.S. President Barack Obama holds a bilateral meeting with President Nursultan Nazarbayev of Kazakhstan at the Blair House, April 11, 2010 in Washington, D.C.

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OVERVIEW: INTERNATIONAL RELATIONS

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DRIVE FOR WORLD TRADE ORGANIZATION MEMBERSHIP Kazakhstan is well-advanced in its World Trade Organization (WTO) accession talks, which have been under way since 1996, and hopes to make further progress this year. Three core issues remain in Kazakhstan’s multilateral negotiations with the WTO: intellectual property; sanitary and phytosanitary standards; and technical barriers to trade. The WTO is also seeking more information from Kazakhstan on domestic subsidies to agriculture. In terms of the bilateral negotiations which are under way in parallel as part of the accession process, Kazakhstan has reached bilateral agreements with 22 member states and continues negotiations on access to markets with seven members: the United States, the European Union,

Ecuador, Mongolia, Taiwan, Saudi Arabia, and El Salvador. Plans for Kazakhstan to enter the WTO as a bloc inside its new Customs Union with Russia and Belarus have been shelved after indications that it would complicate the accession process. The states of the Customs Union – which came into force on January 1 and aims to introduce a Single Economic Space in 2012 – decided to continue separate WTO accession talks but to synchronize their positions throughout the process.

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Alex Stewart International Corporation World Leaders in Inspection, Sampling and Analysis Metals

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Minerals

ASIC Operations

Argentina Australia Brazil Bulgaria Chile China Ecuador

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Commodities

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Agriculture

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Environmental

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Coal and Coke

Estonia/Finland India Indonesia Iran Iraq

TARGET MARKET Since being accredited in Kazakhstan and Central Asia, Alex Stewart International Corporation has gained signiﬁcant recognition and now co-operates successfully with leading domestic procedures, their trade intermediaries and ﬁnancial companies. At the present time representatives of ASIC are active in more than 20 cities of the Republic of Kazakhstan, as well as in the Republic of Uzbekistan, Tajikistan and Turkmenistan, where services provided by ASIC are in great demand from companies seeking to improve the reputation of their brands and enter the market with competitive products.

Japan Kazakhstan Korea Latvia Macedonia Malaysia Norway Peru Philippines

Solid Fuel

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Oil & Petrochemicals

ABOUT US Alex Stewart International Corporation Kazakhstan was formed 12 years ago and is part of the Alex Stewart International Group. During these past 12 years great strides have been made in establishing the business and our efforts have been rewarded with the opening of an independent laboratory in 2007 in Ust Kamenogorsk city. In addition, future expansion will move into the environmental businesses and laboratories will be opened in strategic locations. ASIC’s MISSION ASIC’s mission is to provide professional inspection services in quality control of products and conformance to international standards.This is achieved via comprehensive assistance to companies in the ﬁeld of development and implementation of advanced technologies and management techniques oriented towards assurance of quality and safety of product.

Egypt

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SERVICES Alex Stewart International Corporation (ASIC) bases its activity on the principles of responsibility, impartiality, professionalism and conﬁdentiality. MAIN ACTIVITIES £ Inspection services £ Company monitoring £ Radioactivity testing £ Sampling, sample preparation, analysis and product expertise £ Consultancy £ Certiﬁcation £ Training INSPECTION SERVICES ASIC provides independent inspection services,which include: £ Quantity and quality control of products £ Inspection of condition of transport and reservoirs £ Photo inspection £ General analysis of a company (production) £ Port and survey services £ CMA Control of Warehouses

Portugal Romania Rwanda Saudi Arabia Singapore Spain Syria Taiwan Thailand Turkey U.K. Ukraine United Arab Emirates USA Vietnam Zambia

LABORATORY SERVICES The Laboratory, Alex Stewart International Laboratory, in Ust-Kamenogorsk, Kazakhstan provides high quality analytical services for mining and geological companies and also for organisations on environmental protection. The Laboratory can offer the following services; £ Sample Preparation £ Geochemical Analysis £ Multi-Element Analysis £ Metallurgical Testing of Ore £ Environmental Analysis

Please visit the Alex Stewart International Network www.alexstewartinternational.com Alex Stewart International 42V Ivanilov St., 050059 Almaty, Kazakhstan Tel: s Fax: +7 (727) 2 717 127 Email: asakaz@rambler.ru s bmakanov@alexstewartinternational.com

Alex Stewart International Corporation Head Ofﬁce, 20 Sefton Business Park, Netherton, Liverpool L30 1RD, U.K. Tel: s Fax: +44 (0)151 523 3760 Email: alex.stewart@alexstewartinternational.com

OVERVIEW: INTERNATIONAL RELATIONS

Chinese Premier Wen Jiabao meets Kazakhstan’s Prime Minister Karim Massimov during a welcoming ceremony for the Shanghai Cooperation Organization Summit, October 2009, Beijing, China

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OVERVIEW: KAZAKH-U.S. RELATIONS

J#H# 8dbeVc^Zh Add` [dg i]Z CZmi 7^\ I]^c\ U.S. companies have stood by Kazakhstan through good times and bad. Peter Galuszka looks at the countries’ economic partnership and the role of U.S. investment

U.S. oil/gas production and reﬁnery engineers study a 3D map projection of oil reserves for an area near the Caspian Sea

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OVERVIEW: KAZAKH-U.S. RELATIONS

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WE HAVE THE ENERGY TO LEAD The RWE Group is one of Europe’s largest energy corporations and we continue to work hard on building still further on that position. Some 20 million electricity customers and 10 million gas customers across Europe already rely on the RWE Group. Our customers and partners benefit from our extensive experience, reliability and expertise in all activities related to energy. We firmly believe that Kazakhstan, Azerbaijan and Turkmenistan, indeed the whole Caspian Region, represent an attractive investment opportunity for RWE. Kazakhstan’s many years of experience in the gas industry make it an excellent prospect for a long-term business partnership and investment. Kazakhstan and its Caspian neighbours have vast energy resources and can make a significant contribution to Europe’s drive for energy security. The region will play a strategically important role, especially in the diversification of Europe’s gas supplies in the years to come. RWE’s expertise, investment capabilities and partnership values in the upstream, midstream and downstream energy business provide the essential ingredients for the development of a beneficial long-term energy partnership with Kazakhstan. One step in this direction is the memorandum of understanding with Kazakhstan’s state assets management holding company, Samruk, for a joint study into the use of coal gasification and synthetic natural gas in Kazakhstan. This example shows that together we can further strengthen the mutual benefits entailed in gas procurement activities. A successful study could provide Kazakhstan with an alternative usage of its vast coal resources and also provide RWE with opportunities for gas procurement in Kazakhstan in the long term.

OVERVIEW: KAZAKH-U.S. RELATIONS

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CHINESE INVESTMENT SURGES DURING CRISIS China is quietly investing more in Kazakhstan as it seeks energy, metals, cement, and transportation links to feed its hunger for resources at home. “China is growing very fast and is emerging as a very serious investor,” says Ambassador Erlan A. Idrissov. Chinese foreign direct investment from 1993 to 2008 totaled about $3 billion – roughly the same as Canada, South Korea and Russia. That’s about to change in a big way. The U.S. government reports that China agreed to $13 billion in new investments in Kazakhstan in 2009. The oldest major project – the Kazakhstan-China oil pipeline – was completed ahead of schedule. Commenced in 1997, the 1,384mile pipeline links Kazakhstan’s major hydrocarbon ﬁelds near Atyrau across Kazakhstan to the Chinese border. The last phase of the project, owned by China National Petroleum Corporation and KazMunaiGas, opened ahead of schedule in mid2009. The pipeline is producing 180,000 barrels per day and is expected to increase to 400,000. In a related development, China’s sovereign wealth fund, the China Investment Corporation, bought 11 percent of KazMunaiGas, worth $939 million, in September 2009. Keen interest is also evident in nuclear power. China has 20 new

nuclear units under construction. Kazatomprom, Kazakhstan’s chief uranium producer, has agreed to be China’s main supplier. Westinghouse, with its 10 percent ownership by Kazatomprom, is building four AP1000 reactors in China. Working with the Kazakh National Welfare Fund, China is providing technology and equity financing for modernizing the Atyrau Oil Refining Plant, equity financing for a cast iron production facility, plus $10 billion in export financing by the ExportImport Bank of China. And China is helping build the Zhetygen-Korgas railroad that will shorten the route between China and the Middle East, as well as construct the highway dubbed the “21st Century Silk Route” that will cut transport time from Europe to China from 45 to 11 days. As Kazakhstan develops, relations between Beijing and Astana are likely to mature, especially as China’s energy demands continue to grow dramatically.

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OVERVIEW: KAZAKH-U.S. RELATIONS

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OVERVIEW: KAZAKH-U.S. RELATIONS

@VoV`]hiVc"J#H# >ckZhibZci ;dgjb November 2010 will witness the third Kazakhstan-U.S. Investment Forum, now an established part of the annual U.S. industrial investment event calendar I=: @6O6@=HI6C"J#H# >CK:HIB:CI ;dgjb ]Vh WZXdbZ V `Zn ZkZci egdbdi^c\ XadhZg igVYZ VcY ^ckZhibZci i^Zh WZilZZc i]Z ild Xdjcig^Zh# I]^h nZVg! i]Z <dkZgcbZci d[ i]Z GZejWa^X d[ @VoV`]hiVc lâa dcXZ V\V^c WZ hZcY^c\ V ]^\]"aZkZa YZaZ\Vi^dc! lî] Eg^bZ B^c^hiZg @Vg^b BVhh^bdk V\V^c YZa^kZg^c\ i]Z `ZncdiZ VYYgZhh# I]Z @VoV`]hiVc"J#H# >ckZhibZci ;dgjb '%&% lâa iV`Z eaVXZ dc CdkZbWZg -". Vi CZl Ndg`Éh egZhi^\^djh =VgkVgY 8ajW kZcjZ# I]^h nZVgÉh bV^c i]ZbZ lâa WZ i]Z \dkZgcbZciÉh Egd\gVb d[ 6XXZaZgViZY >cYjhig^Va >ccdkVi^kZ 9ZkZadebZci d[ @VoV`]hiVc# I]^h bV_dg ZXdcdb^X higViZ\n V^bh id jcYZge^c [jijgZ hjhiV^cVWaZ YZkZadebZci d[ @VoV`]hiVc Wn Y^kZgh^[n^c\ VcY [jgi]Zg bdYZgcô^c\ i]Z ZXdcdbn! ^cXajY^c\ ^c eVgi^XjaVg Wn ^ckZhibZci ^c jehigZVb egdXZhh^c\ VcY bVcj[VXijg^c\ ^cYjhig^Zh# 6i aVhi nZVgÉh ;dgjb! Eg^bZ B^c^hiZg BVhh^bdk djia^cZY i]Z Z[[ZXi^kZcZhh d[ i]Z ZXdcdb^X bZVhjgZh iV`Zc Wn ]^h \dkZgcbZci id ]Zae lZVi]Zg i]Z \adWVa ZXdcdb^X Xg^h^h! VcY ]^\]a^\]iZY i]Z ^bedgiVcXZ d[ WjâY^c\ adc\"iZgb ^ckZhibZci eVgicZgh]êh lî] @VoV`]hiVc# I]Z ;dgjb Ä l]^X] lVh ^cigdYjXZY VcY VYYgZhhZY Wn =#:# :gaVc 6# >Yg^hhdk! VbWVhhVYdg d[ i]Z GZejWa^X

Prime Minister Karim Massimov

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Bolat Zhamishev, minister of ﬁnance of Kazakhstan

H.E. Erlan A. Idrissov, ambassador of the Republic of Kazakhstan to the U.S.

H.E. Richard Hoagland, U.S. ambassador to the Republic of Kazakhstan

Dr. Kairat Umarov, deputy foreign minister of Kazakhstan

Olivier Sarkozy, managing director and head, Carlyle Global Financial Services

Ross A. Mauri, general manager, IBM

William Veale, executive director, U.S.-Kazakhstan Business Association

Daniyar Akishev, deputy chairman of the National Bank of Kazakhstan

David M. Rubenstein, co-founder and managing director, The Carlyle Group

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OVERVIEW: MAP OF THE REPUBLIC OF KAZAKHSTAN

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OVERVIEW: MAP OF THE REPUBLIC OF KAZAKHSTAN

INHABITED LOCALITIES Above 1,000,000 inhabitants From 100,000 to 1,000,000 From 10,000 to 100,000 Less than 10,000 inhabitants The capitals of the states Region centers Other towns Settlements Rural inhabited localities District centers COMMUNICATIONS Railways Republican automobile roads. Passes Other automobile roads Sea ports and piers. Lighthouses BORDERS State Region Scale 1: 3,000,000

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OVERVIEW: A TALE OF TWO CITIES

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OVERVIEW: A TALE OF TWO CITIES

With such a harsh climate to contend with, greening-up Astana takes careful planning. Alima Bissenova reports I=: HIDGN D; 6hiVcV ^h jhjVaan idaY Vh \gVcY^dhZ heZXiVXaZ Ä d[ bdYZgc \dkZgcbZci WjâY^c\h! h]dee^c\ bVaah! VcY ZciZgiV^cbZci XZciZgh YZh^\cZY Wn ede" hiVg VgX]îZXih VcY ZgZXiZY ^c gZXdgY i^bZ# DcZ d[ i]Z ÒcVa \gZVi aVcYbVg` WjâY^c\h! i]Z [VciVhi^XVa \aVhh"ZcXadhZY! igde^XVa \VgYZc VcY WZVX]! i]Z @]Vc H]Vingn YZh^\cZY Wn CdgbVc ;dhiZg! ^h dc XdjghZ [dg XdbeaZi^dc i]^h nZVg# =dlZkZg! ^[ lZ iV`Z djg ZnZh d[[ i]Z heZXiVXjaVg VgX]îZXijgZ VcY XdchigjXi^dc hîZh VcY add` Vi i]Z Zbein"add`^c\ heVXZh WZilZZc! lZ XVc hZZ cd"aZhh"\gVcY^dhZ ]VeeZc^c\h dc i]Z h^YZlVa`h! eVg`h VcY hfjVgZh! VcY dc i]Z djih`^gih d[ i]Z Xîn# >i ^h i]Z ldg` d[ bV`^c\ 6hiVcV V \gZZc Xîn lî] ediZci^Vaan bdgZ i]Vc ]Va[ îh iZggîdgn XdkZgZY Wn eVg`h! eaVciZY WdjaZkVgYh! VcY ]dgi^XjaijgVa Y^heaVnh# 8dch^YZg^c\ i]Vi 6hiVcV ^h ^c Vc ZmigZbZan ]Vgh]! Vg^Y hiZeeZ Xa^bViZ lî] V h]dgi kZ\ZiVi^dc eZg^dY l]ZgZ cdi bVcn igZZh VcY eaVcih \gdl cVijgVaan! ijgc^c\ 6hiVcV ^cid V \VgYZc Xîn gZfj^gZh h^\c^ÒXVci \dkZgcbZci ^ckZhibZci VcY! bdgZ ^bedgiVcian! V adc\"iZgb XdbbîbZci d[ YZh^\c! aVWdg! VcY XVgZ# ÆDjg eaVc ^h id XdkZg i]Z Xîn lî] igZZh VcY eaVci^c\h!Ç hVnh NZgaVc @do]V\VeVcdk! YZejin bVndg d[ 6hiVcV# Æ6 \gZZc XZciZg lâa egdk^YZ Xdda^c\ XdcYî^dch ^c hjbbZg VcY ^chjaVi^c\ XdcYî^dch ^c l^ciZg#Ç 6adc\ 6hiVcVÉh cZl g^c\ gdVY idlVgYh i]Z cdgi]lZhi VgZ gdlh d[ W^gX]Zh! edeaVgh! VcY bVeaZ igZZh hiVcY^c\ ild id i]gZZ bZiZgh ]^\]# I]^h ^h Vc VagZVYn k^h^WaZ gZhjai d[ 6hiVcVÉh Æ\gZZc WZaiÇ egd_ZXi hX]ZYjaZY i]gdj\] '%&*# Adc\Zg iZgb! ^c '% id (% nZVgh! i]Z eaVc ^h [dg i]Z Xîn id WZ ZckZadeZY ^c Vc Vgi^ÒX^Vaan XgZViZY [dgZhi _d^c^c\ i]Z cVijgVa e^cZ VcY W^gX] [dgZhi d[ 7dgdkdZ [jgi]Zg cdgi]# 6 Xdci^cjdjh! (%% bZiZg"l^YZ \gZZc Xdgg^Ydg ^h id higZiX] Vadc\ i]Z :hâ g^kZg VcY XdccZXi î lî] i]Z Æ\gZZc WZaiÇ [dgZhi id i]Z hdji]lZhi# Æ>i iV`Zh ild dg i]gZZ nZVgh id XdchigjXi V WjâY^c\! Wji î iV`Zh YZXVYZh id YZkZade cZl eVg`h VcY \VgYZch!Ç hVnh NVcc B^c\VgY! V Hl^hh aVcYhXVeZ VgX]îZXi VcY e]did\gVe]Zg ^begZhhZY Wn i]Z hXVaZ d[ i]Z ldg`# Æ>i ^h V bdgZ X]VaaZc\^c\ iVh` l]^X] gZVaan cZZYh k^h^dcVgn VcY i]dgdj\] eaVcc^c\#Ç 6aadXVi^c\ V g^kZg Vh V XZciZg d[ V gZXgZVi^dcVa \gZZc odcZ ]Vh V ]^hidgn ^c Hdk^Zi"ZgV eaVcc^c\# >c &.+&! i]Z Hdk^Zi BVhiZg EaVc d[ 6hiVcVÉh jgWVc egZYZXZhhdg! IhZa^cd\gVY! l]^X] lVh Vji]dgZY Wn V \gdje d[ AZc^c\gVY VgX]îZXih! YZh^\cViZY i]Z VgZV VgdjcY i]Z g^kZg Vh V gZXgZVi^dc odcZ odcV diYn]V Ä Vc deZc ejWa^X eaVXZ VcY cVijgVa eVg` dc l]Vi lVh i]Z ZY\Z d[ i]Z Xîn# >c i]Z '%%& cZl BVhiZg EaVc Wn i]Z [Vbdjh ?VeVcZhZ VgX]îZXi @^h]d @jgd`VlV! 6hiVcV lVh gZ"XdcXZeijVaôZY Vh V Æg^kZg"Xîn#Ç I]Z g^kZg :hâ lVh YZh^\cViZY id WZ V ÆXZciZg d[ a^[Z#Ç 6h i]Z aViZ @jgd`VlV hV^Y ^c V '%%( ^ciZgk^Zl/ ÆI]Z :hâ lâa jcîZ cVijgZ VcY X^kâôVi^dc! XgZVi^c\ V hnbW^dh^h WZilZZc i]Z Xîn VcY aVcYhXVeZ#Ç 8în eaVccZgh idYVn jcYZghiVcY i]Vi i]Z g^kZg h]djaY Vahd WZ egdiZXiZY [gdb edaaji^dc VcY aVg\Z"hXVaZ YZkZadebZci#

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Wealth management at UBS. It’s all about being well connected, with you.

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Wealth Management

Global Asset Management

Investment Bank

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OVERVIEW: A TALE OF TWO CITIES

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Anthony Robinson looks at what the government’s new tax laws, plans to modify production-sharing agreements, and higher oil prices mean for Kazakhstan’s oil industry =><=:G D>A EG>8:H ]VkZ XdbZ Vh V gZa^Z[ id @VoV`]hiVcÉh [Vhi"\gdl^c\ dâ VcY \Vh hZXidg! l]^X] Xdci^cjZY id ^ckZhi ]ZVkân ^c bV_dg ÒZaY YZkZadebZci VcY ^c[gVhigjXijgZ# :medgih! l]dhZ kVajZ YgdeeZY h]Vgean Vh dâ eg^XZh [Zaa [gdb V '%%- eZV` d[ &),$WVggZa! VgZ Vahd g^h^c\ Ä \^k^c\ V Wddhi id iVm gZkZcjZh VcY ZcVWa^c\ i]Z \dkZgcbZci id gZeaZc^h] i]Z CVi^dcVa dâ ;jcY VcY gZWjâY XZcigVa WVc` gZhZgkZh# 9ZheîZ XjiWVX`h Vi hdbZ d[ i]Z ]^\]Zg Xdhi! daYZg ÒZaYh! dkZgVaa dâ VcY XdcYZchViZ egdYjXi^dc ^h WZ^c\ WddhiZY Wn i]Z \^Vci dc"h]dgZ ÒZaYh d[ IZc\ô VcY @VgVX]V\VcV`# DkZgVaa egdYjXi^dc gdhZ cZVgan , eZgXZci id ,+#* bâa^dc bZig^X idch aVhi nZVg! d[ l]^X] +- bâa^dc bZig^X idch lZgZ ZmedgiZY! VXXdgY^c\ id HVjVi BncWVZk! i]Z b^c^hiZg d[ dâ VcY \Vh# =Z [dgZXVhih djieji d[ -% bâa^dc bZig^X idch i]^h nZVg# 7ji V gZijgc id ]^\]Zg eg^XZh ^h cdi Zcdj\] id VaaVn i]Z XdcXZgch d[ i]Z ^ciZgcVi^dcVa dâ XdbeVc^Zh VWdji i]Z cZl iVm XdYZ ^cigdYjXZY ^c '%%. Ä VcY

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INDUSTRIAL DEVELOPMENT

Multinational oil companies, such as Italy’s ENI and the UK’s BG, have shares in the Karachaganak ﬁeld

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Central Asia North Africa Middle East North Sea

Over the next decade Kazakhstan will become one of the world’s largest hydrocarbon producers and exporters, allowing the country to expand and diversify its economy, stimulating growth and driving the continued prosperity of the country. Canamens believes it has a role to play in Kazakhstan’s future by applying leading-edge technology and operational expertise to Kazakhstan's vast hydrocarbon resources. Having acquired an initial asset base and commenced activity to develop these assets, Canamens is keen to expand its involvement in Kazakhstan. Along with our local team based in Almaty, we will continue to build relationships with local operators, contractors and service providers as we unlock the value of our assets and expand our portfolio.

Local partners. Local knowledge.

Operational success.

About Canamens Canamens is a private equity funded upstream oil and gas company. Its aim is to acquire assets with existing or near-term production opportunities, field developments with related exploration potential and to build a small, but focused, exploration portfolio. Sector Asset Management and Goldman Sachs are its two principal investors.

For further information: info.kazakhstan@canamens.com www.canamens.com

Canamens Energy Central Asia Limited Kazakhstan Branch Қазақ стан Республикасы 050012, Алматы қ . Əл-Фараби даң ғылы 13 «Нұрлы Тау» Бизнес-орталығы 1В блогы, 601 офис Телефоны: +7 727 311 1050/1051 Факсы: +7 727 311 1049

Canamens Energy Central Asia Limited Kazakhstan Branch Республика Казахстан 050012, г. Алматы пр. Аль-Фараби 13 Бизнес-Центр «Нурлы Тау» блок 1В, офис 601 Телефон: +7 727 311 1050/1051 Факс: +7 727 311 1049

Canamens Energy Central Asia Limited Kazakhstan Branch Suite 601, Block 1V Nurly Tau Business Center Al-Farabi Avenue 13 050012 Almaty, Kazakhstan Phone: +7 727 311 1050/1051 Fax: +7 727 311 1049

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INDUSTRIAL DEVELOPMENT

As economic growth resumes in Kazakhstan, the demand for electricity is rapidly increasing

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The KazMunaiGas headquarters in Astana

@VoBjcV^<Vh/ Bdk^c\ Je i]Z GVc`h With its strategic investment plans and reﬁnery modernization programs, KazMunaiGas is set to become one of the world’s major oil industry players. Birgit Brauer reports

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An off-shore oil platform under construction in the Kashagan ďŹ eld in the North Caspian sea. The discovery of Kashaganâ&#x20AC;&#x2122;s commercial reserve of around 13 billion barrels of oil in 2000 was one of the largest ďŹ nds in decades

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SPONSOREDXXXXXXXX FEATURE

Dow Looks to Kazakhstan

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DOW has been operating in Eastern Europe for 50 years. That is a key component of the company’s business strategy and a significant contributor to Dow’s corporate growth and profitability. Dow operates nine commercial offices and eight production sites in the region and employs about 600 people in different businesses and functions across the region. Dow offers its customers in the region a variety of plastics and chemicals sold to a wide range of downstream industries. These include automotive, oil and gas, packaging, building and construction, furniture, wire and cable, large appliances, water treatment and agricultural products. Sales in 2009 were about USD 2.4 billion, growing to USD 3.2 billion by 2015 and to USD 5.5 billion by 2015. General Manager for Dow in Russia and the CIS Marko Blagovic discusses the company’s activities in Kazakhstan and its future prospects. What is Dow’s strategy in Kazakhstan? Kazakhstan is of strategic importance for Dow’s diversified businesses and, specifically, it is a key growth market for Dow AgroSciences, Dow Oil & Gas and Dow Water & Process Solutions. What is Dow Water & Process Solutions’ contribution to the 2009 boom in the Kazakh mining industry? Dow Water & Process Solutions is one of the leading suppliers in Kazakhstan of ion exchange resins for the mining industry. Since 2004, uranium-mining industry in Kazakhstan has been constantly developing and demonstrating growth potential for the local players, as well as for international companies like Dow. And we have secured our stable position in the local market, becoming the key supplier of ion-exchange resins developed by Dow Water & Process Solutions for subsidiaries of the state corporation Kazatomprom, which is one of the leading uranium production companies in the world. Today, Dow accounts for a relevant market share of resins supplied to mining and energy companies in Kazakhstan. Mining and chemical industries are facing a series of issues when recovering valuable and precious

metals such as decreasing ore quality, environmental and health and safety concerns, as well as fire issues linked to solvent extraction. Ion exchange technology can purify, concentrate and recover a great variety of precious and valuable metals such as gold, uranium, nickel and cobalt from leach liquors, electrolytes, wastes or solvent extraction raffinates. Among the benefits of ion exchange resins are substantial waste volume reduction, minimal space, and easy recovery of process water. In addition, this technology is easily adapted to a great variety of processes including moving packed beds or resin-in-pulp, the latter process driving significant capital expenditure reduction. What are your plans for the future? We will continue to invest in innovative solutions, world-class resources and – most importantly - people. In 2009 Dow invested $1.6 billion globally. On April 1 we acquired Rohm and Haas which has allowed us to combine two best-in-class technologies, strengthen and broaden our market base and accelerate Dow’s transformation into the world’s leading specialty chemicals and advanced materials company. The challenging times have not affected our plans for the Former Soviet Union. On the contrary the Dow Izolan joint venture’s state-of-the-art polyurethane manufacturing facility in Vladimir (Russia) opened on schedule in 2009 and is supplying the fast expanding Russian and CIS market. In Kazakhstan as in the rest of Dow’s East Europe Growth Region, we focus on offering high quality services and building long term relationships with our customers, local communities and other national stakeholders, addressing their needs in a timely, innovative way with ecologically-friendly products manufactured in strict adherence to the criteria of sustainable development.

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For leading oil and gas producers, Cameron is the Surface Systems wellhead and tree expert that helps you continuously raise performance through our proven technical expertise, comprehensive solutions, and global manufacturing and service network.

SURFACE SYSTEMS

Performance MEANS LOCAL COMMITMENT

For 30 years Cameron has maintained an established presence in With facilities located inanAstana, Almaty, Aktobe, ForKazakhstan. 30 years Cameron has maintained established presence Tengiz, Uralsk/Aksai Atyrau, we provide a full range Aktobe, of field in Kazakhstan. With and facilities located in Astana, Almaty, service, engineering, storage, repair and maintenance service for our customers. Russia

Expanding on this successful operation, Cameron has commenced building a new CAMSERV™ aftermarket facility 2010 will enhance in Atyrau. The facility, due to open in late 2009,

Astana

Uralsk/Aksai Aktobe Atyrau

our abilities and increase our capacity both for support of the

Kazakhstan

product and the customer. The facility will also provide a step

Tengiz

change in the training of our local Kazakhstan staff.

Almaty Aktau

Cameron is committed to providing the highest quality China

products and services using the latest technology increasing the local Kazakhstan content – in both personnel and manufacturing – and continually raising performance. Together. www.c-a-m.com

RAISING PERFORMANCE. TOGETHER™ ©Cameron , TC9724

INDUSTRIAL DEVELOPMENT

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INDUSTRIAL DEVELOPMENT

As well as new pipes and pumping stations, cross-Caspian Sea oil tankers will be needed to cope with the sharply rising volumes of oil and gas from Kashagan

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Mubadala Oil & Gas is a company with big ambitions

! " # $

realizing opportunity !!! Algeria

Bahrain

Indonesia

Kazakhstan

Libya

Malaysia

Oman

Philippines

Qatar

Thailand

UAE

Vietnam

INDUSTRIAL DEVELOPMENT

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The Caspian Sea, with its ﬂuctuating sea levels and winter ice, can be hazardous for the off-shore oil industry

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INDUSTRIAL DEVELOPMENT

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INDUSTRIAL DEVELOPMENT

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INDUSTRIAL DEVELOPMENT

With the world’s second largest deposits of Uranium, Kazakhstan’s nuclear potential is clear. Opportunities abound for foreign investors. Sheridan Prasso reports

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Kazakhstan has been increasing the number of uranium mines as well as developing its existing mines

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Uranium pellets ﬁll fuel rods in this display of a nuclear fuel assembly at the Ulba Metallurgical Plant in Ust-Kamenogorsk, Kazakhstan

World energy demand is increasing. Greenhouse gas emissions must be curbed. To meet this dual challenge, AREVA is innovating. As world leader in the nuclear energy business and as a group committed to the development of renewable energies, AREVA offers its customers solutions for producing electricity, while protecting the planet. www.areva.com

- Illustration: H5

Our energies have a future. A future without CO2.

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Sulfur pellets for export to China to be used, primarily, as fertilizer. Large amounts of sulfur are being produced by the oil and gas operators in the Caspian Sea area of western Kazakhstan as a by-product of the oil they extract

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Solutions from Materials Technology

INDUSTRIAL DEVELOPMENT

Kazakhstan has some of the world’s richest mining resources. Anthony Robinson looks at how the industry is faring in the current economic climate

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A partner of choice in metals and minerals

Rio Tinto is a leading international business involved in each stage of metal and mineral production. From operations in more than 50 countries, we produce aluminium, copper*, diamonds, coal, iron ore, uranium, gold and industrial minerals (borates, titanium dioxide, salt, talc, zircon). Our diverse portfolio, high quality assets and expertise in technology and marketing give us the capability to supply a wide spectrum of customers and markets. Safe working and sustainable development are at the heart of everything we do. Our worldwide operations provide long term local benefits, including employment and training opportunities for our neighbouring communities. We are already in Kazakhstan, having been working in mineral exploration and business development here for more than 12 years. Weâ&#x20AC;&#x2122;re committed to growing our business in the region and seeking large, long life mining projects at various stages of development. Weâ&#x20AC;&#x2122;re looking forward to a long and successful relationship with Kazakhstan and to continuing to be a partner of choice in the metals and minerals business. & ' * !($# & $( #($ $" # & !()& # & $( #($ $" - ( # - (& ( - # -.$$& !" (+ , '( # - - - -

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=VgkZhi^c\ EdiZci^Va Kazakhstan’s agriculture sector is seeing record harvests. Clare Nuttall and Serik Jaxylyk look at the government’s plans to increase the country’s farming, processing, and exporting productivity

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INDUSTRIAL DEVELOPMENT

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INDUSTRIAL DEVELOPMENT

Grape harvesting: southern Kazakhstan has good conditions for vineyards and orchards

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The Largest Development Project of the Central Asia region

Establishing itself as a leader in the social and economic development among the countries of the region and possessing considerable territorial advantage, Kazakhstan can play a key role in the Central Asia region, converting itself into an attractive region of the civilized and secured world, representing itself as a motive power, by making itself a place of interest for world investors in development of all regions of Central Asia Dmitriy Pak The General Director of G4 City LPP

G4 City LLP is the initiator of the «Construction of four satellite cities of Almaty» project, the largest project in Kazakhstan and the Central Asia region. This project has been considered and was approved by the President of the Republic of Kazakhstan in 2007 and registered in the StateRun Program of Housing Construction in the Republic of Kazakhstan, 2008-2010. The Master plans that have been realized within the framework of the «Construction of four satellite cities of Almaty» project were unanimously ratified by the Cabinet members voting at the Government session of the Republic of Kazakhstan. The Operator of this project is the Akimat of Almaty region, the project monitor is the Ministry of Industry and Trade.

The «Construction of four satellite cities of Almaty» project has strong potential for private and institutional investors. The project has high investment appeal, as it solves problems of state significance effectively and by means of a comprehensive approach. The G4 City project involves the creation of four unique cities under the names of Gate City, Golden City, Growing City and Green City. The total area of the project is 8006.7 ha. Four satellite cities will be located along the Republican Highway that links the City of Almaty with the lakeside town of Kapchagai and then continues north further into the Almaty region. This large project, unprecedented in size in Central Asia, plans for the construction of satellite cities that will possess

great potential and will provide economic and social benefits both for the state and participants of the project, and for the final consumer. The project corresponds to world standards in its technical and economic features. Furthermore, the development area, building volumes, population and GDP of the cities were planned in accordance to those standards. “Kojankus” residential area is the first complex of the satellite city Gate City and is independently considered as a separate project. The conceptual basis of the project, to develop 181 hectares, lies in the north and is defined by a suburban part of Almaty. The area is located in the environmentally friendly city district. The idea of the “Kojankus” project harmoniously combines urban and rural elements located in an ecologically advantaged district. Considering that convenient public transportation connects “Kojankus” with the city of Almaty, many of the future inhabitants of the area could conveniently work in Almaty. Kazakhstan has established itself as a leader in social, cultural and economic development among the countries of the region, and possesses a considerable territorial advantage, thus Kazakhstan can and does play a key role in the Central Asia region. Recently, foreign investors have had a considerable interest in the Kazakhstan market. By expert estimations, more than eighty percent of all direct investments to Central Asia have been received by the Kazakhstan economy during recent years. Our country has been included in a list of twenty of the most attractive countries in the world, in terms of investments, by the World Bank. The investment mode of Kazakhstan can be characterized as liberal, providing access for foreign investors practically in all branches of the economy. The World Bank says Kazakhstan is one of the most attractive countries for investment. The unprecedented size of this development project, in Central Asia, of the satellite cities provides great potential and economic and social benefits both for the state and project participants, and for the final consumer. This unique largescale project is especially interesting because the building of the infrastructure and social objects is partially financed by the Government, providing proof of the project’s soundness and profitability. Thus, within the State-Run Program of Housing Construction, 2008-2010, in Kazakhstan the funds of 13.49 milliard tenge ($89.9 million) were allocated to the satellite cities project. Besides, one of the most crucial trends in the state project is an innovative industrial policy and development of energy sources for 2003-2015. The project aims to develop industries and science potential in the Republic of Kazakhstan which would allow production of new hi-tech products for internal markets as well as for export, and provide an import substitution policy, which in general will help Kazakhstan to be

one of the fifty most competitive countries of the world. First of all, this will motivate a reconstruction of current production powers and a transfer of large production enterprises of Almaty into the industrial satellite city area. This will also facilitate establishment of new science-cum-education and science-cum-production complexes. A lot of attention has been given to developing inter-regional and international relations in the framework of the industrial satellite city. This is being done in order to support competitive industries and exploit a transit potential of the region, as well as developing education and a highly-skilled personnel re-training system for industry on the basis of higher and secondary educational institutions located in satellite cities in the framework of the project. Investing in this project will be profitable and investments

will have a high rate of return. Co-development and mutual participation in the project will establish a joint venture in Kazakhstan with equal shares. In addition, the project covers a number of directions in which the development of the economy of the region can go: rental housing construction, building and transferring of the industrial enterprises from Almaty to the territory of the Growing City, and tourism development in the Green City. Thus, the consumer base will be created, and its maximum concentration will be in the Almaty region at all stages of the project’s implementation. Great attention is being given to creating an appealing investment climate by the development of the financial structure, systems of investing formation of satellite cities on the basis of mechanisms of concession, public-private partnership, private investment and business development.

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New buildings mark the Astana waterfront. The government is seeking to create housing for Kazakhstan’s aspiring middle class

The government’s “Road Map” program has made some valuable steps forward, but there is still room for improvement in Kazakhstan’s construction industry, says Alima Bissenova

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New houses in Astana: the construction of residential buildings is on the rise again and slowly recovering from the ﬁnancial crisis

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Welcome to the new world of concrete construction www.paschalinternational.com The PASCHAL Group is a leading international company in the area of formwork and shoring. We offer solutions around the globe with service, formwork and shoring systems, as well as software. We support our customers with our experience and our know-how in more than 60 countries.

PASCHAL-Werk G. Maier GmbH · Representative Ofﬁce Dostyk av. 114, ofﬁce 38 · 050051 ALMATY · Republik Kasachstan Phone: 007-72 7 328 33 38 · Fax: 007-72 7 262 11 10 service@paschal.kz · www.paschal.kz

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BANKING AND CORE SERVICES

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ISLAMIC BANKING In another development, the government also adopted new legislation in 2009 aimed at creating a market for Islamic financial services in Kazakhstan. It is the first CIS country to do so, and the project has strong support from President Nursultan Nazarbayev and other top officials. When it obtains its banking licence, the United Arab Emirate’s Al Hilal bank is set to become the newest player on the Kazakh market. Al Hilal planned to invest $1 billion within its first four years in Kazakhstan, bank CEO Mohamed Jamil Berro announced in March. “There are strong ties at all levels between Abu Dhabi and Kazakhstan, vast investment opportunities in Kazakhstan, and an opportunity for us to contribute to the growth and prosperity of this country,” he said. The Kazakh government is also planning to launch its first sovereign sukuk – or Islamic bond – in 2010 for the amount of up to $500 million.

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BANKING AND CORE SERVICES

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BANKING AND CORE SERVICES

EBRD GROWS ITS ROLE IN KAZAKHSTAN BY CLARE NUTTALL The European Bank for Reconstruction and Development (EBRD), the largest investor in Kazakhstan outside the oil and gas sector, plans to invest around $1 billion into projects furthering the diversification of the Kazakh economy. The EBRD adopted a new strategy for Kazakhstan in February 2010, setting out the priorities for its work in the next three years. The bank aims to help the country to emerge from the crisis with a diversified economy and a more sustainable financial model. “Helping the Kazakhstan economy to diversify is a priority for us,” says Michael Weinstein, the EBRD’s country director for Kazakhstan. It plans to support the government’s economic diversification program though equity and debt

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investments, as well as help identify technical assistance. Projects will be identiﬁed in collaboration with the Ministry of Industry and Trade and the Samruk-Kazyna National Welfare Fund. “Momentum is building, and there is a window of opportunity post-crisis but before oil prices go through the roof again,” says Weinstein. “We are proactively looking for new projects in Kazakhstan.” The EBRD has also shown its support for Kazakhstan by planning to hold its 2011 Annual General Meeting in Astana. To date, the EBRD has invested more than €2.4 billion in 108 projects, mobilizing additional investment of more than €5.4 billion.

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Our positive experience in Kazakhstan’s booming Market

ince its formation almost 60 years ago, Energoprojekt has developed into a complex business system operating today in 22 countries. Founded as a consulting company for the design of hydro and thermal power plants, through decades of business activities, Energoprojekt entered many different fields and obtained a strong and respectable position in the fields of: Contracting, Industrial Engineering & Infrastructure including projects of administrative, commercial, public, apartment and other type of buildings, hotels, hospitals, industrial solutions, oil and gas processing and transportation; irrigation systems, water and sewage systems, highways, roads, subway stations, railway stations, tunnels etc. and Power, Ecology and Water Treatment including projects of power generation (Thermal & Hydro Power Plants), power transmission & distribution (transmission lines, substation, distribution systems & networks) telecommunication systems and networks, power control centers & SCADA systems, potable and waste water treatment plants . Today, Energoprojekt can be found on the lists of Top International Design firms and International Contractors published every year by the renowned American magazine “Engineering News Record”.

Experience in Kazakhstan A geographically and business diversified portfolio has enabled Energoprojekt to avoid oscillations of the business cycle. Following this approach to business activities and anticipating promising Kazakhstan market possibilities, at the beginning of the new millennium Energoprojekt opened two branch offices in Kazakhstan – Energoprojekt Visokogradnja Branch Office in Aktau and Energoprojekt Niskogradnja Branch Office in Almaty, and at the beginning of 2010 we opened TOO Energo Kaz company based in Aktau. “As many times before, this move proved to be the right choice,” said Mr.

Vladan Pirivatrić, CEO of the Company. “Through highly professional and efficient execution of projects, Energoprojekt established good business relationships with major Kazakhstan Investors. We also obtained a strong market position, especially in the field of General Contracting with main sectors of activities in this area being the construction of hotels, office buildings, shopping malls, retail and commercial centers and infrastructure projects, such as roads and underground structures.” In the last couple of years in Kazakhstan we executed projects

including design, project planning and project management, followed by construction, supervision, commissioning, training of client’s personnel, maintenance and other postconstruction services. Always maintaining the highest standards of technology and quality, Energoprojekt constructed the Commercial and Business Centre in Aktau (50.000 m2), the Commercial and Residential Building in Uralsk (16.200 m2), the Residential Building (35.000 m2) – an 18 storey building and Business and Commercial Centre (16.000 m2), both

CASE STUDY

Almaty and Abay Metro Stations Client: AO “ALMATIMETROKURILIS”, Almaty Contract period: 2006-07; 08-09 Almaly and Abay metro stations are underground structures within the first subway line of the city of Almaty in the Republic of Kazakhstan. They were constructed at the depth of 30 – 70 m in the city centre. The project included the construction of three tunnel tubes, (diameter cca 90-100 m2) 815m long, mutually connected by crossings with platform constructions and slopesided passenger tunnels. The project organization was very complex due to limited access through

the transport tunnels, as the works on the other 5 stations have been executed simultaneously. Beside applying the latest know-how and technology for the construction of underground structure, a significant number of experts were trained for this kind of structures. Energoprojekt Niskogradnja Branch office 144, Tchaykovskogo str. off. 253 050000 Almaty Republic of Kazakhstan Phone: 7 727 250 81 21 Fax: 7 727 250 23 96 E-mail: ep-niskogradnja@ducatmail.kz

www.energoprojekt.rs

Your reliable partner

CASE STUDY

in Atirau, and Almaly and Abay metro stations within the first subway line of the Metropolitan city of Almaty. Kazakhstan, with its vast natural resources, current development of energy sectors as well as the potential of becoming one of the world’s major producers of hydrocarbons, metals and minerals, puts Kazakhstan into a position of becoming a profitable growth engine in the Region. As an international company, Energoprojekt is here to stay and contribute significantly with its vast professional experience and know-how.

Retail / Entertainment Complex,Aktau Client: TOO “Oil Real Estate” LLC, Almaty Contract period: 2006-09 This Retail / Entertainment Complex of 50.000 m2 built area, consists of a basement and three floors and is situated at the north boundaries of the city of Aktau. Energoprojekt Visokogradnja Branch Office Mikrodistrict 29a, ex “Vahtovaja avtostancia” 13 000 Aktau Republic of Kazakhstan

Energoprojekt Bulevar Mihaila Pupina 12 11070 Belgrade, Serbia Phone: + 381 11 310 10 10 Fax: + 381 11 311 42 00

CEO Vladan Pirivatric

In its architectural form this Complex is a modern composition with elements of traditional Kazakh architecture. A modern fountain has been designed and constructed on the square emphasizing the main entrance of the Complex. The complex integrates areas of various activities, such as sport, leisure and retail. It has a covered ice-skating rink, indoor recreation facilities for various types of exercise, such as aerobics, martial arts,

boxing, billiards, bowling, multifunctional sports hall, indoor swimming pools – one for public use and one for competitions – a SPA center etc. It also has a multiplex cinema, retail areas, various cafeterias, bars and restaurants, a central bakery and supermarket, significant office space, as well as all necessary storage and technical service areas. The complex also has underground as well as open-air parking and open-air sport facilities. Phone: 8 (77292) 20 07 57 8 (77292) 20 07 56 Fax: 8 (77292) 20 33 70 E-mail: epvgaktau@mail.ru

BANKING AND CORE SERVICES

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BANKING AND CORE SERVICES

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Train carriages transport oil in the Caspian Sea region of west Kazakhstan. Ambitious railway upgrades will ensure quicker transit times for bulk transportation

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BANKING AND CORE SERVICES

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BANKING AND CORE SERVICES

GZVX]^c\ CZl =Z^\]ih Christopher Pala looks at the improvements being made to Kazakhstan’s air transport sector, and how it emerged relatively unscathed from the recession

Astana International Airport’s modern terminal. Air transport continues to grow, with many airlines expanding routes into Kazakhstan

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Inside Astana International Airport’s modern terminal

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A true love affair. True love can be hard to ﬁnd. At Tele2, we had to travel all the way from our homeland Sweden to Kazakhstan to ﬁnd Neo. Fortunately, feelings were mutual and we bought 51% of the shares in Neo. Just as in any good relationship, the one between Tele2 and Neo is based upon common interest: We have the same vision of providing customers with affordable telecom services. With the power of marketing knowledge together with a low cost strategy, we intend to position the new Neo as the price leader in Kazakhstan. Our main offers in Kazakhstan will be within the mobile voice market. Our primary focus will be to expand our network and increase capacity mainly in urban, but also in rural areas. In spite of our cost consciousness that

means considerable investments in Kazakhstan the years to come. We hope all of this will make the people of Kazakhstan love Neo just as much as Tele2 does. With 27 million customers in 11 countries, Tele2 is one of Europe’s leading telecom operators. We always provide our customers the best deal. Tele2 has been listed on the OMX Nordic Exchange since 1996. In 2009, we had net sales of SEK 39.3 billion and reported an operating proﬁt of SEK 9.2 billion.

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