Doing business in Kazakhstan
Kazakhstan is the second largest member state of the Commonwealth of Independent States with a population of around 18.1 mn people. Major cities are Almaty (2 mn inhabitants), Nur-Sultan (Kazakhstan’s capital with over 1 mn inhabitants), and Karagandy.
Since ancient times, the Silk Road running through Kazakhstan fostered the exchange of goods, products, culture, and knowledge between Asia and Europe.
Echoing the past, Kazakhstan is currently positioning itself as a logistics hub between the producing markets in Asia and the primary consuming markets in Europe. Its unique geographic location guarantees huge traffic through the country from the significant markets. Furthermore, Kazakhstan is among the world leaders in total natural resource reserves. It is the largest and strongest performing economy in Central Asia and one of the founding members of the Eurasian Economic Union. GDP growth in 2018 was 4.1%.
As a result of a political strategy to provide equal rights and equal opportunities regardless of nationality, Kazakhstan has managed to provide political stability and create clear and transparent conditions for foreign investment. The improved political and economic climate is a big reason why Kazakhstan ranks 28th in the 2019 World Bank “Ease of Doing Business Report”, after being ranked 51st in 2016. This is higher than a number of European countries, such as France (32nd), The Netherlands (36th), and Switzerland (38th).