(MENAFN- Trend News Agency)
ALMATY, Kazakhstan, July 7. Kazakhstan
possesses a number of advantages that can contribute to
transforming it into a transportation regional hub, Almas
Abaideldinov, General Director of Eastcomtrans LLP, told Trend on
the sidelines of the Annual meeting & Business Forum of the
Eurasian Development bank (EDB) in Almaty, Kazakhstan.
"Kazakhstan has several advantages that can help it become a
regional transportation hub. The first is its geographical
location. Kazakhstan is situated between Europe and Asia, making it
a crucial transit corridor for trade between these regions. The
second advantage is infrastructure development," Abaideldinov
said.
He noted that in recent years, Kazakhstan has been actively
investing in transport infrastructure, including railroads,
highways, airports, and seaports.
"For instance, the project to build a bypass railway line around
the Almaty station will redirect cargo traffic to the new
Zhetygen-Kazybek railroad. Additionally, the construction of a new
railway line from Bakhty to Ayagoz and the opening of the third
border crossing with China at Bakhty-Chuguchak, along with the
modernization of Caspian Sea ports, are all aimed at enhancing
transport corridors," he said.
Abaideldinov emphasized that the government is also providing
substantial support.
"The government of Kazakhstan develops and implements strategies
and programs to enhance the country's transport and logistics
potential. Notably, the Nurly Zhol program and other initiatives
aim to develop the transport network. Additionally, Kazakhstan is a
member of various international agreements and organizations, such
as the Eurasian Economic Union (EAEU) and China's One Belt, One
Road initiative, which create additional opportunities for
international trade and transit," he said.
The official cited competition and other factors as challenges
facing the country's transportation sector.
"Other countries in the region are also actively developing
their transportation corridors and infrastructure, which creates
competition. Significant investments are needed to implement large
infrastructure projects. Kazakhstan must continue to attract
external investment and effectively utilize domestic resources.
Additionally, long-term projects require stability and
predictability in the political and economic spheres," he said.
He noted that the timeline for achieving the goal will depend on
many factors, including those mentioned above.
"If current strategies and projects are successfully
implemented, significant improvements can be expected within the
next 5–10 years. The full establishment of Kazakhstan as a regional
transportation hub may take longer, perhaps 15-20 years, given the
scale and complexity of the tasks," he added.
The Eurasian Development Bank 2024 Annual Meeting and Business
Forum features a series of sessions on the topics of Islamic
finance, transport, ecology, energy, and digital technologies.
The Eurasian Development Bank is a multilateral development bank
carrying out investment activities in the Eurasian region.
The EDB's authorized capital is $7 billion. The main share in
the EDB portfolio is occupied by projects with an integration
effect in the areas of transport infrastructure, digital systems,
green energy, agriculture, industry and mechanical engineering.
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