Kazakhstan

Strategically located between Europe, Russia, and China, Kazakhstan serves as an important cross-continental transit route. Rich in hydrocarbon and mineral reserves, this country of approximately 20 million has embraced free-market economy principles since gaining independence from the Soviet Union. Bilateral treaties and trade agreements, including membership in the Eurasian Economic Union (EAEU) and China’s Belt and Road Initiative (BRI), contribute to Kazakhstan’s economic appeal.

In recent years, the country’s business climate has further improved through increased privatization efforts, anti-corruption policies, and measures aimed at reducing the outsized role of monopolies and oligopolies in the economy. Supported by its healthy finance and significant foreign exchange reserves, Kazakhstan has also pushed diversification efforts, targeting sectors such as transport, pharmaceuticals and telecommunications. However, weaknesses persist, including regulatory complexities and workforce limitations, dependence on Russia and China for trade and security, as well as poorly developed infrastructure hindering economic growth.