Law Firms in Central Asia and the Caucasus

For all of the talk of how the Caspian region is booming – at least in some sectors – it should come as no surprise that law firms both international and domestic are part of the boom.  Below is a brief overview of the firms operating in the five Central Asian and three Caucasian republics, culled in part from a recent tour of the region.

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For Sale

The following description of the exchange and the procedures for becoming a broker on the Turkmenistan State Commodity and Raw Materials Exchange are provided by CBJ contributor and longtime author of the Turkmenistan Weekly Energy Review, Dowran Orazgylyjow.  Keep Reading »

Jonathan Aitken’s slanted take on Nursultan Nazarbayev is far from a probing, nuanced analysis of the Kazakh leader’s rise and reign, but he does spin some funny stories.

A fiery and determined orator, the young Nursultan Nazarbayev was never afraid to speak out against the stultified communist bureaucracy within which he worked. In 1972, the future president became secretary of the party committee at the dilapidated Karaganda steel plant. Technical problems and construction failures meant dreadful conditions for workers, and a steady decline in output – difficulties which were glossed over by party members anxious to protect their cushy positions. Nazarbayev was less willing to turn a blind eye, and embarked on a two-man crusade with the help of the Pravda newspaper journalist Mikhail Poltaranin. Keep Reading »

Tajikistan has some of the greatest hydropower potential of any country in the world, although this potential is largely untapped.  Tajikistan has tapped only approximately three percent of its hydropower capacity, which is estimated to be 527 billion kilowatt-hours (kWh) annually.[1] The potential lies in the Amudarya watershed with the Vakhsh River as its most important tributary.  The Tajikistan government seeks to exploit this natural resource not only to support its own domestic economy but also as a major export to its neighbors in Central and South Asia. Keep Reading »

In November 2009, a new mobile service provider officially launched its services in Armenia.  That new provider, France-Telecom’s Orange, had, just a year prior, won the bid to become Armenia’s third wireless service provider.  At the time of the bid tender, many analysts held two views: First, the Armenian telecommunications market was saturated.  Second, an overhaul of the market’s dynamics and competitiveness was long overdue.  The addition of Orange is proving both of those views to be technically accurate, although a deeper analysis is necessary to understand what the introduction of Orange really means for Armenia and what it says about opportunities for investors in the telecommunications market.

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Kenyon S. Weaver talks to GRATA Law Firm’s U.S. Representative Arlan Yerzhanov about what foreign investors need to look out for in the year ahead in Kazakhstan.

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When the Chagala Group, Ltd. (“Chagala”)’s financials for the first half of 2009 came out, they raised a few eyebrows.  It would have raised more, but the news was all but lost in the midst of articles on BTA Bank’s spectacular implosion, the intervention by the Kazakh Government, and the inevitable lawsuits brought by foreign investors for sums in the billions.  But for the first half of 2009, Chagala Group quietly posted a $3.4 million profit.  Although the real estate sector has suffered in Kazakhstan, as reported in these pages and elsewhere, Chagala managed to make it through one of the most volatile 6-month periods in the black. Keep Reading »

While the old centralized system in post-Soviet Kyrgyzstan disintegrated and factories and farms closed their doors, bazaars defied the economic collapse to quadruple in number between 1989 and 2005. Anders Conway takes a look at the important role that bazaars play in Kyrgyz economic life, and highlights how the country is becoming an important center for regional trade between Russia, China and Central Asia. Keep Reading »

In Turkmen, the word arzuw means “wish” or “dream.”  For Batyr Niyazberdyyev, a Turkmen national living in New York City and the businessman behind Arzuw.com (“Arzuw”), it is an opportunity and a beachhead of eCommerce in Turkmenistan.  In developing and running Arzuw, Niyazberdyyev is fulfilling a personal wish while placing himself at the forefront of bringing ecommerce to a country that is just now experiencing the first tantalizing commercial possibilities of the internet.

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Countries in the Caspian region are beginning to embrace public private partnerships with a new found enthusiasm, and no longer just in the power sector. Brien Desilets reveals some of the important principles of PPP, and takes a look at how the exciting trend has been picking up steam[1].Globally, public private partnerships (PPP) have expanded beyond their origins in the power sector to encompass projects in nearly every sector, from transportation to housing and even schools and hospitals. The Caspian region has begun to embrace this trend and has had some experience with PPP in sectors beyond the power sector, most notably in transportation. More importantly, the countries of the region are beginning to develop PPP programs like those found in the UK, Australia, India and South Africa.

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The “emerging market” trend in wines shows no sign of waning, and Georgian wine is a re-emerging market as its vineyards have been prized for centuries. Today, the small Caucasian republic’s dry red and white varietals can be found across Europe and up and down the United States’ East Coast.  So, what can one expect for Georgian wines in the future? It is time for a sober assessment.

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When the Chagala Group, Ltd. (“Chagala”)’s financials for the first half of 2009 came out, they raised a few eyebrows.  It would have raised more, but the news was all but lost in the midst of articles on BTA Bank’s spectacular implosion, the intervention by the Kazakh Government, and the inevitable lawsuits brought by foreign investors for sums in the billions.  But for the first half of 2009, Chagala Group quietly posted a $3.4 million profit.  Although the real estate sector has suffered in Kazakhstan, as reported in this pages and elsewhere, Chagala managed to make it through one of the most volatile 6-month periods in the black.

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This month, we review of some of the new legal analysis available online and a brief tour of arbitration cases at ICSID, or the International Center for the Settlement of Investment Disputes, a branch of the World Bank where alleged violations of bilateral investment treaties (BITs) are often settled.

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What Foreign Investors in Kazakhstan Should Know:

Interview with Arlan Yerzhanov of the GRATA Law Firm (Part II)

In December, I sat down with Arlan Yerzhanov, a Partner and the Representative in the United States for GRATA Law Firm.  GRATA, a Kazakh law firm, is not only the largest law firm in Central Asia (and an office in Baku, too) but is unique in its Western reach, with lawyers in London and New York City.  In January, my column published the first part of the interview, discussing the dynamics of foreign participation in Kazakhstan in 2010 and what foreign investors need to know.  This is the continuation of our interview, focusing on what employers need to know about hiring and terminating workers in Kazakhstan.   Keep Reading »

In November 2009, a new mobile service provider officially launched its services in Armenia.  That new provider, France-Telecom’s Orange, had, just a year prior, won the bid to become Armenia’s third wireless service provider.  At the time of the bid tender, many analysts held two views: First, the Armenian telecommunications market was saturated.  Second, an overhaul of the market’s dynamics and competitiveness was long overdue.  The addition of Orange is proving both of those views to be technically accurate, although a deeper analysis is necessary to understand what the introduction of Orange really means for Armenia and what it says about opportunities for investors in the telecommunications market. Keep Reading »

Tajikistan has some of the greatest hydropower potential of any country in the world, although this potential is largely untapped.  Tajikistan has tapped only approximately three percent of its hydropower capacity, which is estimated to be 527 billion kilowatt-hours (kWh) annually.[1] The potential lies in the Amudarya watershed with the Vakhsh River as its most important tributary.  The Tajikistan government seeks to exploit this natural resource not only to support its own domestic economy but also as a major export to its neighbors in Central and South Asia.  Keep Reading »

The Caspian Business Journal and Claret Consulting present “Macroviews” of the economic growth, currency fluctuations and construction index for countries in the Caspian region. PDF downloads: Keep Reading »

In this month’s legal column, Kenyon S. Weaver talks to GRATA Law Firm’s U.S. Representative Arlan Yerzhanov about what foreign investors need to look out for in the year ahead in Kazakhstan. He also takes a closer look at what those looking to ship freight from the U.S. to Central Asia can learn from Ace Motors v. Total Transport, Inc. Keep Reading »

Some of the winners in Turkmenistan’s energy diversification are often overlooked. Michael Druckman takes a look at the unexpected opportunities that have emerged alongside the new gas pipelines for small and medium size businesses. Keep Reading »

Every year a significant percentage of Tajikistan’s fruit and vegetable harvest goes to waste. Kathryn Critchell takes a look at the progress that is being made to bring this produce to external markets. Keep Reading »

The introduction of new regulations by the Obama Administration now means that businesses in Central Asia can bid for military contracts. Michael Druckman takes a look at how entrepreneurs are set to benefit from the move. Keep Reading »

Mamuka Tsereteli,  professor of International Affairs at American University in Washington D.C., and executive director of the America-Georgia Business Council has been working to encourage cooperation between Washington and Tblisi for over a decade. He talks to John Mackedon about the path his projects have taken and what he has learned along the way. Keep Reading »

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Despite ongoing political unrest and a debilitating economic embargo by Russia in the four years that followed the Rose Revolution, Georgia somehow remained a regional economic dynamo. John Mackedon asks whether the recent double impact of the global financial crisis and a crushing defeat in a brief war with Russia may finally have seized this once resilient economic engine? Keep Reading »

While the old centralized system in post-Soviet Kyrgyzstan disintegrated and factories and farms closed their doors, bazaars defied the economic collapse to quadruple in number between 1989 and 2005. Anders Conway takes a look at the important role that bazaars play in Kyrgyz economic life, and highlights how the country is becoming an important center for regional trade between Russia, China and Central Asia. Keep Reading »

Countries in the Caspian region are beginning to embrace public private partnerships with a new found enthusiasm, and no longer just in the power sector. Brien Desilets reveals some of the important principles of PPP, and takes a look at how the exciting trend has been picking up steam[1]. Keep Reading »

With the introduction of a new taxation regime and the revision of a number of contracts, foreign investors in the Kazakhstan’s oil and gas sector have been feeling a bit uneasy. Aziz Burkhanov explains the motivation behind recent changes, and suggests that in reality investors have nothing to fear. Keep Reading »

Kenyon S. Weaver explains the hurdles Ashgabat may face in its quest for an ICA ruling on the disputed sections of the Caspian Sea, and  why foreign investors really should take note of the recent Frontera judgment. Keep Reading »